There’s a 1960’s-era $30 million apartment atop a Bloor Street office building.

Thanks to stable prices and a low vacancy rate, TORONTO’s real estate market is booming.  But the sale of a multi-million dollar penthouse is a novelty, and still makes big news.

One such apartment  (953 square metres, 30 foot ceilings, four bedrooms, reputedly designed by American architect PHILIP JOHNSON) rests 13 storeys above Bloor Street West on top of the old CIL office building.  It was put there by businessman NOAH TORNO and his wife ROSE, who thought that living above an office building was a cool idea.  They were encouraged by friends who had an apartment above Bergdorf-Goodman in NEW YORK.

CIL1<Bloor Street West in 1960, CIL Building with apartment on top, behind streetcar>

The building’s present owner, JON LOVE, estimates there are probably fewer than 100 people in TORONTO who could buy the landmark condo.  But foreign buyers – mostly from Russia, the Middle East and South America – are willing and able.  Last year, the new Four Seasons penthouse on Bay Street sold for $28 million to a foreign buyer – a Canadian record.

CIL2The World’s Richest Cities/2012, according to KNIGHT FRANK.  List of inhabitants with at least $30 million in net assets.
1.  New York City – 7,580
2.  London – 6,015
3.  Tokyo – 5,440
4.  San Francisco – 4,590
5.  Los Angeles – 4,520
6.  Hong Kong – 3,205
7.  Osaka – 2,970
8.  Paris – 2,860
9.  Chicago – 2,615
10.  Mexico City – 2,585
11.  Washington – 2,395
12.  Houston – 2,295
13.  Beijing – 2,285
14.  Mumbai – 2,105
15.   Dallas – 2,020
16.  Delhi -1,945
17.  Sao Paulo -1,880
18.  Toronto -1,765
19.  Rio de Janeiro -1,740
20.  Shanghai -1,415

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