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Gibson Square Condominiums
Yonge and Park Home, Toronto
Developer: Menkes Developments
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Thread: Gibson Square Condos (Menkes) - Real Estate -

  1. #1

    Default Gibson Square Condos (Menkes) - Real Estate -

    Here is some more info with a price list...

    First of all, the obligatory off-focus shot. (Sorry for the bad pictures, was shot handheld with a 50mm in low light...)




    The snazzy brochure.


    The pricelist.


    The small print.




    Details here:
    http://www.torontocondocorp.com/gibs...onbrochure.pdf
    Last edited by ultran00b; 2009-Nov-21 at 19:04.


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    Thanks, ultran00b!

    Any info about floors 37+? Penthouse floor plans+prices, namely?

    thanks

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    Those prices are crazy high for North York. Even their parking is asking a bit much.

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    Maybe they'll drop the prices if they see people aren't buying?

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    so for 581 sq ft (The Spire unit), it's $331k +$30k for parking which comes to $361k ...... , at yonge & sheppard. With all due respect, this could be the biggest flop in the history of condo selling.

  6. #6
    Join Date
    Apr 2008
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    Default

    Quote Originally Posted by MBS-Guru View Post
    so for 581 sq ft (The Spire unit), it's $331k +$30k for parking which comes to $361k ...... , at yonge & sheppard. With all due respect, this could be the biggest flop in the history of condo selling.

    that's starting at $622 PSF for the 6th floor !

    i'm not getting the appeal of NYCC that justifies this kind of pricing ...
    is it b/c buyers tend to be older and possibly have more money?
    Last edited by cdr108; 2009-Dec-22 at 15:47.

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    As mentioned that pricing is insane. Most of the buildings in the area are going for $400-450 (parking included) which is more in line of values.

    You can get a 1 bedroom + den for about $285K around finch right now.

    Direct access to the subway can't possibly push values up THAT much.

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    What people aren't realizing is that there is a market for this type of building and in this type of area....the people that are going to buy into this project are going to look for the convenience of the subway, the amazing amenities, their first choice in location, etc.etc. They have the desire, the willingness, and disposable income and then some, to not have to worry about whether the purchase price is 400/sq.ft or 650/sq.ft. I just don't see this as an issue for the said demographic, but we'll just have to wait and see...

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    Any folks who were really interested in this bldg missed the boat, as their recent offer included free parking.

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    Bought a starview unit on Nov, 2008 during the Vip Previews. It was exactly $400,000 at that time. This price was including a free locker($3,000) + a free parking($30,000). Looks like it will cost an extra $70,000 to get the same unit now.

    According to my real estate agent, menkes is planning to raise the price again when they start selling phase 2 (north building).

    Also, their recent letter to the buyers included info on new sales office +model house that will get built near nycc.

  11. #11

    Default

    Wow those prices seem really high to me. I bought a Menkes condo back in 2002 at Yonge/Sheppard from plans (1 bedroom on the 10th floor) for $158,490 including parking. At the time I thought this was a lot of money! If I were to sell today I'd make a lot of money but hey I love my condo and the location. I couldn't even afford to live where I do if I had to purchase now.

    I know prices have risen a lot but this seems high. I know people will buy like crazy though and it never ceases to amaze me. Even Menkes new project the Savvy is not as expensive as Gibson but then Savvy is off Yonge and Gibson is right on Yonge so I guess there's the difference. That being said the Gibson looks really nice.

  12. #12
    Join Date
    Apr 2008
    Location
    Toronto
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    Default

    Quote Originally Posted by cdr108 View Post
    that's starting at $622 PSF for the 6th floor !

    i'm not getting the appeal of NYCC that justifies this kind of pricing ...
    is it b/c buyers tend to be older and possibly have more money?

    forgive my ignorance since i don't live around that area, but IIRC aren't there power line towers running through this property, or is that further up ?

  13. Default

    Quote Originally Posted by cdr108 View Post
    forgive my ignorance since i don't live around that area, but IIRC aren't there power line towers running through this property, or is that further up ?
    I believe it's just a parking lot. Gibson House is set maybe a block west of the parking lot.

  14. Default

    Quote Originally Posted by cdr108 View Post
    that's starting at $622 PSF for the 6th floor !

    i'm not getting the appeal of NYCC that justifies this kind of pricing ...
    is it b/c buyers tend to be older and possibly have more money?
    The prices are totally insane for the area. Theres plenty of places in the downtown core that are even cheaper than that. But if any of you were paying attention to Arc condos at bayview and sheppard, the prices for those, and the Merci condos seemed to be going just as high. apparently this is what people want?!?!

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    I haven't seen a price list for Bravo Condo which is just up the street from Gibson Square but their eblast said units starting in the 300s.

    I don't think these prices are reasonable at all, it just seems like all the developers trying to cash in when they can.

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