What Else Can $10 Per Sq Ft Get You Downtown

The Star reported on Saturday that "an in-camera meeting that was held by city council to reduce the lease rate for the two floors of space at the DaimlerChrysler building was held in July. The issue of real estate commissions for the agents who have listed the property was dealt with at an in-camera meeting a few weeks ago." I believe the commission issue was brought forward in a public Council meeting

Wow, reduce the price dramatically in July, change the commissions AND " the new lease rate isn't written in stone and sections of the two floors -- like the back half facing Pitt Street -- could go for less than $10, while the section facing the river could go for more....The city, [City solicitor George Wilkki said] is willing to look at "anything reasonable.... Any offer that would come in the door we would take to council and see what council wants to do with it."

Just curious to see what $10 per square foot could get me in the downtown core, I found the property shown above. (I am not making a true comparison since one has to add in the maintenance costs too and it is a "storefront" rather than a Triple A office tower). Interestingly, it is part of the Mady parking garage in which the City is involved and which is now in receivership.