Toronto property owners are praying Madonna can boost condo sales as the Queen of Pope prepares to open her latest fitness club in the one of the city’s many high-rise developments trolling for buyers.
Madonna does have a stake in the event and the property. Her Hard Candy Fitness franchise is located in the luxury condo complex Aura and will be one of the biggest clubs in the city at 42,000 square feet.
According to the report filed by Canadian Real Estate Magazine, Toronto real estate developers are hoping that the star attraction will draw in more buyers.
"Celebrity presence is a brand and people follow brands, whether that is Prada handbags or Madonna opening a gym,” Erica Smith of Condo Chicks 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.”
But other factors are just – maybe more – important.
“Location and quality of projects are what sells it,” Smith says.
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