You might be accustomed to seeing eyebrow-raising luxury condo prices in downtown Toronto, but in Mississauga’s City Centre, a newly-unveiled penthouse has shattered the city’s new construction market prices.
Today, Camrost Felcorp Inc. released details of their 10,000 square-foot upper penthouse suite in the third phase of the Exchange District Condos — known as EX3 — which could be yours for the cool asking price of $15 million.
According to Christopher Castellano, Camrost Felcorp’s vice president of sales and marketing, the penthouse establishes a new record-setting price for a pre-construction condo unit in the City of Mississauga.
“With today’s penthouse release, Camrost has boldly demonstrated to purchasers, brokers and our development sector colleagues that luxury living has a new home in the GTA, and it can be found in downtown Mississauga,” he said in a press release.
Encompassing the entirety of EX3’s 66th floor, the penthouse includes 8,000 square feet of interior living space with more than 2,000 square feet of balconies which are said to offer 360-degree views of downtown Mississauga, Lake Ontario and Toronto.
The suite has all of the high-end fixings one could expect in a penthouse with an eight-digit price tag. The layout includes five large bedrooms with staff quarters, “spa-inspired” ensuites, two laundry rooms and two large walk-in closets for storing all of your designer wares.
A fitness space and fully-equipped gym will also let you work out from the comfort of home. An elevator connected to the suite will transport the future residents to a private, below-grade garage where they can park five of their cars.
Castellano stated that the purchaser of the penthouse won’t “likely be motivated by the comparative pricing value of the Mississauga location.”
“Instead, for the purchaser of this penthouse suite it will be about just one thing — luxury,” he added.
The penthouse’s release follows the sold-out launch of the non-penthouse units at EX3 that occurred in the fall, when 505 residences were sold starting from $550,000. Since the start of sales between the other two phases of Exchange District, 1,500 condos have been sold in the master-planned community.
The Exchange District, located at City Centre Drive and Kariya Gate in Mississauga, spans 3.5-acres of mixed-use development across from Square One, inclusive of three condo towers, a rental residence, retail space, parkland and a boutique hotel.
“Since the sale of our first unit at the Exchange District in 2019, through the recent release of units at EX3, buyers have recognized the unique opportunity for urban living in this pocket of the GTA, and more importantly, the value it offers on a price per square foot, compared to downtown Toronto,” said Castellano.
