For more than a decade, Sam Mizrahi has been one of the major players in Toronto real estate, setting high standards for quality and innovation in luxury downtown living. With Mizrahi Developments, he approaches each new project with a fresh perspective, aiming to create integrated, timeless communities for long-term residents. Mizrahi has steadily increased the net worth of his company by building meaningful partnerships with owners, ensuring their lifestyles and desires are represented in the design.
Q: The Toronto real estate market is still facing challenges following nearly a year of record-high interest rates and inflated supply. As a leader in luxury development, how do you navigate these downturns?
SAM MIZRAHI: The current market conditions are certainly challenging, especially in the condominium sector. But challenges like these reinforce the importance of staying true to your core principles. For Mizrahi Developments, that means prioritizing quality craftsmanship and timeless design. These values have been the foundation of our success. As for the market, lower interest rates and reduced prices are starting to draw buyers back, and the high level of inventory gives them significant negotiating power. Many are waiting for mortgage rules to be relaxed near the end of the year before making final decisions, so the market is a bit of standstill. But that will start to change as we enter 2025.
Q: You mentioned staying true to your principles. Can you elaborate on how Mizrahi Developments integrates these values into its projects?
SAM MIZRAHI: When I founded Mizrahi Developments in 2008, my vision was to bring the same expectations of quality and luxury that you’d find in Toronto’s most affluent suburban neighborhoods—like Forest Hill or Richmond Hill—into downtown condominiums and townhomes. That vision hasn’t changed. Every project we undertake is built with the buyer in mind. We also invest heavily in understanding the communities where we build. We don’t just drop a new development into a neighborhood and hope it works. We engage with residents, learn about the area’s history and character, and design our buildings to complement and enhance the local landscape.
Q: The downturn has hit luxury condos as well. How do you maintain your commitment to craftsmanship when the market is slow?
SAM MIZRAHI: It’s challenging, but it’s also an opportunity to reinforce what makes us unique. For us, luxury isn’t just about high-end finishes or amenities. It’s about creating spaces that stand the test of time. We don’t cut corners, even when the market is slow. In fact, staying committed to our principles during downturns is what sets us up for success when the market rebounds. Real estate is a resilient industry. Markets ebb and flow, but quality endures. By focusing on quality, we ensure that our developments remain desirable long after they’re built.
Q: The condo market is often criticized for being impersonal, attracting investors more than families looking to put down roots. How do you address this in your developments?
SAM MIZRAHI: That’s a fair criticism, and it’s something we’re mindful of. We aim to create homes, not just investments. This means designing spaces that are livable and welcoming, with layouts that cater to families and professionals who want to build their lives here. We also work closely with buyers to customize their units. This personal touch makes a big difference. It creates a sense of ownership and connection that you don’t often see in the broader condo market.
Q: Looking ahead, what are your expectations for the Toronto real estate market?
SAM MIZRAHI: The market is in a period of adjustment. The days of frenzied buying are behind us, and both buyers and sellers need to adapt to this new reality. While we expect some seasonal trends to return, broader economic factors—like interest rates and inflation—will continue to play a significant role. That said, I’m optimistic for the long term. Toronto is a growing city with strong fundamentals. As the market stabilizes, we’ll see more buyers returning, especially in segments that offer true value. For Mizrahi Developments, that means continuing to deliver timeless designs that resonate with buyers who prioritize craftsmanship.
