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Gibson Square Condominiums 
Yonge and Park Home, Toronto
Developer: Menkes Developments

Gibson Square Condos (Menkes) - Real Estate -

Discussion in 'Real Estate - Individual Project Threads' started by ultran00b, Nov 21, 2009.

  1. ultran00b

    ultran00b New Member

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    Last edited: Nov 21, 2009
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  2. mihaelb

    mihaelb New Member

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    Thanks, ultran00b!

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

    thanks
     
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  3. EXgeMMy

    EXgeMMy Active Member

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

    mihaelb New Member

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    Maybe they'll drop the prices if they see people aren't buying?
     
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  5. MBS-Guru

    MBS-Guru Active Member

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    so for 581 sq ft (The Spire unit), it's $331k +$30k for parking which comes to $361k ......:D , at yonge & sheppard. With all due respect, this could be the biggest flop in the history of condo selling.
     
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  6. cdr108

    cdr108 Senior Member

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    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: Dec 22, 2009
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  7. EXgeMMy

    EXgeMMy Active Member

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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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  8. MadMax

    MadMax Active Member

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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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  9. adeel

    adeel Active Member

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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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  10. cy8bu

    cy8bu New Member

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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.
     
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  11. BlueCat

    BlueCat New Member

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    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. :eek:

    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.
     
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  12. cdr108

    cdr108 Senior Member

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    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 ?
     
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  13. EXgeMMy

    EXgeMMy Active Member

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    I believe it's just a parking lot. Gibson House is set maybe a block west of the parking lot.
     
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  14. dc01231

    dc01231 Active Member

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    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?!?! :confused:
     
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  15. EXgeMMy

    EXgeMMy Active Member

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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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