The big news in Toronto real estate today is that Streetcar Developments has picked up the Broadview Hotel at the northwest corner of Queen Street East and Broadview Avenue in the city’s east end. The building is best known for housing Jilly’s–the finest in adult entertainment.
I don’t know what it sold for, but the twittersphere seems to think it went for somewhere between $4 and $6 million. My guess is that it’s on the higher end of that range.
The deal is interesting because there have been rumors circulating for years about its future. At one point there were rumblings that it was going to become a Drake Hotel on the east side–which does seem like a natural fit, and would be exciting for the Riverside area.
And while we still don’t know what it’s going to be, Streetcar–which is a condo and loft developer–has said