toronto-property

Views (mostly) on Toronto Real Estate, Homebuilding and Investing from a long time participant as a real estate broker, licenced builder, lender, investor and journalist.

Thursday, July 27, 2006

Canadian Billionaire Moving on Up

Alexander and Simona Shnaider will likely be on the move in a year or so. The Russian born Shnaider, with an estimated worth nearing C$2 billion, closed last May on a C$4.3 million 2.3 acre lot at 10 High Point Road.

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Starter Home
The Schnaider home on Old Colony may be on the market again. Last year, it was listed for $10.9 million but there were no takers. "Try an offer. Seller has bought firm!" (Be sure to put aside a bit extra for the more than $50,000 in yearly property taxes.)

The Shnaider's current mansion, a spectacular but relatively low-key French-style stone country home on Old Colony, is on a puny lot of less than 4/5 of an acre backing onto a public elementary school. I guess sometime soon they'll retry flogging the old dump to mere multi-millionaires.

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