I wouldn't do it. A lot of foot traffic and the constant noise. Don't listen to anyone that says the soundproofing was bumped up to block the noise. Whether that's true or not, you still hear a lot of noise from the gym. Even at Loblaws at Maple Leaf Gardens, I can hear weights hit the ground. This is in a commercial building that's huge. I hear this over all the people in the store. Vibrates right through the concrete. Buildings have so much trouble with this. I'd stay away if I were you, but if you're curious, you should test it out yourself. As far as parties, the rules may say one thing, but some buildings have a lot of parties. Even though there's a security guard, things can still get pretty loud. One thing to remember is people will be in the hallway talking, shouting and you will hear everything. Sound will easily go through your front door since new condos don't have any kind of soundproofing between the suite entry door and the jam.
Think about it. There's a reason why that unit is so heavily iscounted. This will also be a problem when you sell. Think about it.