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Ellie Condos 
5220 Yonge Street, Toronto
Developer: G Group Development

Ellie Condos (G Group) - Real Estate -

Discussion in 'Real Estate - Individual Project Threads' started by Anthony, Sep 6, 2009.

  1. Anthony

    Anthony New Member

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    I have the floorplans for this condo. I'm taking reservations but they are not selling at this point. Price per square foot is $450-480 and that includes parking and locker so it is much cheaper than the Gibson Square. It's a 40k difference for a 2 bedroom. The only thing is it doesn't have the direct subway access but still a quick walk to the subway.
     
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  2. argos

    argos Active Member

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    Any progress with the construction of the Sales Office? When will they start accepting worksheets?
     
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  3. Anthony

    Anthony New Member

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    Hi, there are no dates for either. Email me at anthonynguyen11@gmail.com if you wish to discuss this condo. I can certainly secure a unit for you. Thanks
     
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  4. Anthony

    Anthony New Member

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    What I like about this condo is that the one bedroom and den has two bathrooms and some are full baths so you get a shower and a bathtub.

    The price of this condo is set at the same price as the resale condos around the area. I find that really attractive.

    So probably the 1+Den is about $290,000 with parking and locker.

    2 bedroom is about $370,000 or so.

    We will have to wait to see the pricelist.

    Here's a picture of some of the layouts

    [​IMG]

    [​IMG]
     
    Last edited: Sep 6, 2009
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  5. argos

    argos Active Member

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    what's the highest floor in this building? and what is the payment structure like?

    who's the builder? are they Canadian or is it some foreign developer like Bazis?
     
    Last edited: Sep 6, 2009
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  6. Anthony

    Anthony New Member

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    The deposit structure hasn't been released since there's not price list yet. Looks to be 24 floors and about 240 units in total. So it's a small condo compared to some of the massive projects like Gibson Square. This one should sell out within a month at this price. I am taking reservations for the units right now. Thanks
     
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  7. luxome

    luxome Active Member

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    hmm...i wonder what the maintenace fee will be like since it is a relatively small building.
     
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  8. MadMax

    MadMax Active Member

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    Impressive....never seen a 1 bedroom + den with two bathrooms in it - and full ones at that!
     
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  9. simuls

    simuls Senior Member

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    Why would somebody pay $450-$480/ft for North York? You can get that downtown. I'm not trying to be mean here, I really want to know as I don't know the area.
     
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  10. Anthony

    Anthony New Member

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    You can't get a new consturction downtown for $450/sf next to a subway station. It doesn't exist. If you go west towards Spadina or into Liberty Villiage then it's in this range but not along the Yonge Subway line.

    And generally North York appreciates around 4-5% a year which is the same as downtown. Some pockets in downtown like Bay and Bloor and the waterfront can appreciate in value more than the rest of downtown. There's more of a demand for condos in North York than the supply can keep up with. Resales in North York sell at a fast clip than downtown. Don't under estimate North York for investment.

    There's two groups of people that want to be in North York.
    1. Asians - Koreans, Chinese etc. Their restaurants, supermarkets are in the area. Asian parents with deep pockets often buy these condos for their kids while they are in university. It's just a short ride to downtown. But also caucasians love this area too so it's a mixed area.

    2. The second group of people are those that can not afford the higher prices downtown and so North York is a cheaper alternative, while commuting into the city is a snap by subway. As long as North York is a bit cheaper it will draw in buyers. All of the amenities are there and there's less congestion.

    These are the two main driving forces for condos in North York and the reason why the demand will never diminish.

    The Centrium's pricing is just about the same as resale value, which is unlike most new constructions in the city.
     
    Last edited: Sep 7, 2009
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  11. Solaris

    Solaris Senior Member

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    Thanks for sharing info on Centrium ... I didn't even realize they were begining the marketing for this condo already ~ who is the builder ??

    with respect to pricing ... $450-$480 is pretty high for NYCC being that this is a 'stand alone' condo (unlike the Hullmark Centre complex with retail + offices below, which equals convenience) ... while I agree Gibson Square is a large building and more expensive, it is also better designed IMO, has direct subway access underground and by a very reputable builder (Menkes) unlike this particular project ~ reputation means a lot in the development industry, and on that basis alone I'm quite certain this project will not exactly 'sell out' in a month ... no need to create a 'BUY NOW' rush LOL :D

    No offence to NYCC owners, but between NYCC, I think King/Spadina and Liberty Village is a better choice ~

    From my understanding, NYCC has not been a super popular location for Chinese population given the lack of Chinese restaurants+shops, which is why Markham, Scarborough, Richmond Hill has been so popular ... however this area is well received by the Korean population, Yonge+Finch / Yonge+Sheppard is sometimes referred to as the Korean Town Annex ... I agree with you in that I personally would not be living in this area unless I work downtown and depend on the subway, but I cannot afford a condo in the core :)

    my 2 cents worth ~
     
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  12. luxome

    luxome Active Member

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    It's Centrust Development (according to the brochure)
     
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  13. Anthony

    Anthony New Member

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    Hi Solaris,

    everyone has a preference to where they want to live. I have a caucasian couple who is ready to retire and they are adamant they want to be at Yonge and Empress. I know many people love this area so it depends who you talk to. It's more convenient that Liberty Villiage for travelling. There you got to stand your butt out in the cold in the winter to catch a street car, while direct subway access is the big selling point of any condos.

    There is no comparision between The Gibson Square and Centrium in terms of finish and design. Gibson is better. And it has direct access to the subway and Empress Walk. Hence the price difference.

    I will predict that Centrium sells out in under 2 months.
     
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  14. cdr108

    cdr108 Senior Member

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    sold out in 2 months ... how many units are in this building?
    unless it's only 100 units, it's not going to happen that quickly.

    personally, i find the 2nd full bathroom a waste in the 1 bed + den unit(645SF 1BD@S1) and they're trying to squeeze a den in a unit that doesn't even have dining space !?!?!
     
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  15. iSlutsky

    iSlutsky Chit-Chatter

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    I don't get it.

    Here are my issues:
    (i) Why is there a second FULL bathroom in a 1BD+D? I could understand this IF the DEN was big enough for someone to sleep in. But at 6 by 6, it is more of a nook. Therefore, that second full bathroom will never get used; and,
    (ii) That den is tiny. It is more of a nook. That said, wouldn't it have been better to try and increase the size of the living room area, and give potential for some room to eat (as opposed to having to eat in the living room);

    Anyone have any other takes on this?

    M.
     
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