Sorry Shakyamuni but it's not false. I know exactly what the condo's in my building rent for (mine is 630 sq ft/1bed -$1650) and how much many of my friends all over downtown get for their's and it's all pretty much the same regardless of area with the exception being east of Yonge (cheaper) and the odd unit in Yorkville (higher).
You're right that west of Bathurst (notably the King/Strachan area) is the fringe of downtown but it's not the fringe of nightlife or "hipster cool". West Queen West/Ossington has King b/t Spadina and Bathurst beat hands down for that and is a 5 min walk. Not everybody wants to be in the middle of all the action and noise. Some like to be able to walk to/from it, and sleep when they get home.
I also own at the ICON II and that condo has appreciated more slowly, is worth less, and generates less rent than West of Spadina OR Bathurst because it IS in the middle of everything. Always something going on, which is fun, but you can't get away from it. Always party people puking, screaming, fighting, cars making noise, etc. Fun for a couple months and you learn to live with it, but conversely, you have to charge less rent to get it occupied.