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Is Mirvish Village Worth $100 Million Dollars?

The asking price for Honest Ed's and Mirvish Village was a rumoured $100 million dollars. Given that 1 Bloor Street East originally sold to the Bazis Group in 2007 for $67 million dollars , one could argue that the price seems reasonable given Mirvish Village is almost four times bigger than that site.

On the other hand, RioCan, Canada's largest real estate investment firm, purchased Kromer Radio and surrounding properties near Bathurst and Dundas Street, with the intention of bringing a Walmart to the Kensington Market neighbourhood. The Kromer site sold for only $8 million dollars which seems like a bargain in comparison to the Mirvish property. While, Mirvish Village is located on the Bloor subway line, and takes up more than a city block, it sits on a corner more famous for its cheap sushi and Korean food than the chic retailers of Yorkville. Do you think Mirvish Village is worth $100 million dollars?

UPDATE: As an additional property for comparison, we learned the Toronto Catholic School Board sold the property across from Honest Ed's, now the B.Streets Condos, for $6.97 million in 2011.

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