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A third of the newly renovated luxury suites at the former Trump International Hotel and Tower have been sold. The parties behind the rebranded St. Regis Residences Toronto held a news conference Thursday heralding the sales launch.
The 65-storey Bay/Adelaide building, purchased by JCF Capital in March, features 118 residential suites (73 up for sale). The 211 hotel suites currently operate under the name of the Adelaide Hotel.
That name is scheduled to change to the St. Regis Toronto in early 2019 following $20M in renovations and improvements. The building is the first St. Regis residential property in Canada.
“We took a hard look into the market and it became obvious one luxury brand was absent,” JCF Chief Operating Officer Kate Hay said. “The St. Regis brand stands alone on the world stage.”
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The one- to three-bedroom condos redesigned by Ann Johnston vary wildly in size from 1,310 SF to 11,750 SF and range from $1.6M to $23M.
“We were thrilled to acquire the signature property,” JCF Capital President Jay Wolf said.
“The opportunity to own this iconic, landmark building, to re-envision and reinvest in the residential offering, and to establish a new standard for luxury in the Canadian residential market, was one we couldn’t pass up.”
Donald Trump broke ground on the building in 2007 with his joint venture partner, Russian-Canadian developer Alexander Schnaider. It opened in 2012.
JCF Capital broke its contract with The Trump Organization in a buyout deal earlier this year, allowing it to rebrand the property.
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