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Can Madonna help Toronto condo sales?

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Guest | 13 Jan 2014, 03:48 PM Agree 0

If it is good enough for Madonna, then it is good enough for all condo buyers. That is the hope of developers who are hosting the pop superstar next month at Canada’s tallest and largest residential complex.
The global superstar will attend a special fitness event at the new Aura complex in downtown Toronto. Aura is home to the U.S. star’s Hard Candy Fitness franchise. It is only the second North American branch and the biggest, at 42,000 square-feet. The 78-story luxury condo tower boasts 985 units and a five-bedroom penthouse priced at $18.4 million.
While Toronto is abuzz with the news, many investors are working if the Material Girl’s presence will really ignite more interest in condo living? Erica Smith, co-owner of Condo Chicks real estate services, says celebrity presence draws more attention to projects.
"Celebrity presence is a brand and people follow brands, whether that is Prada handbags or Madonna opening a gym,” she says. “People naturally gravitate towards ‘Hollywood’ and ‘Stars.’ Star presence can attract a crowd and media attention which could, in turn, attract potential international buyers for penthouse units, however, location and quality of projects is what sells it.”
  • SED WIM | 14 Jan 2014, 04:43 PM Agree 0
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