The CEO of GMP Capital is selling his incredible Yorkville condo
GMP Capital, one of Bay Street’s most storied independent investment firms, announced at the beginning of 2016 that it would be cutting about 25 per cent of its worldwide workforce and streamlining its Canadian operations amid ongoing economic contractions that had forced many other companies of its ilk out of business over the previous few years. Coincidentally or not, Harris Fricker, the CEO of GMP, has just put his Yorkville condo on the market for $7.25 million.
The suite is located at 155 Cumberland Street, on the 12th floor. It’s a 4,000-square-foot luxury home with three bedrooms and four bathrooms. The kitchen comes equipped with a full-height wine fridge, the master bedroom has a generously sized dressing room, and the 600-square-foot terrace is roomy enough for full-sized couches. The unit has views to the south, toward the downtown core.
Fricker, who didn’t return emailed inquiries about the property, made his name locally as a financier for the steel industry. He was appointed CEO of GMP in 2010 after eight years with the company, including two as president of GMP Securities. He closed on this condo in 2010, shortly before he was elevated to the top job. The price he paid at the time was $4.5 million, before taxes.
The building is a boutique condo tower built atop an existing office and residential building between 2008 and 2010. Allan Slaight has a unit on the 20th floor. But Fricker’s next-door neighbour, the inhabitant of the only other unit on floor 12, is a little less august: he’s Alan Saskin, CEO of Urbancorp, the residential developer that shocked the industry when it filed for bankruptcy protection in the spring.