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A blog reader who calls himself ‘Winston’ made the following comment on this blog in reference to 45 Province Street which stated:

Looks like 901 closed for .14M

Three units in total have closed this year, 901, 1106, and 1207, for an average psf around 0.

In total, 19 units have sold for M, leaving about 120 units vacant.

The Landesbank that provided the construction loan has the right to send this to auction in November 2010 and I would expect that to happen ASAP as the bank is eating the operating expenses. That’s when I recommend you, Laura, and any real estate brokers prepare by picking the units you want and assessing their value in advance.

I would like to respond to this comment. First, I spoke with a “source from 45 Province St” who informed me that this comment written by “Winston” regarding the bank fianancing issues on 45 Province Street is incorrect. I was also told that a representative from 45 Province Street in the next few days will release a statement to the press that they have secured bank fianancing, and that this real estate development is on solid ground. I’ll keep you posted if I hear anything new.

What are you hearing about 45 Province Street?

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