One of the older condo buildings in Toronto (built in the eighties), is 23 stories and has 336 units. These units have 8 ft. ceilings and no balconies. These are not features that appeal to young buyers. What it does have is a superb location near universities and hospitals and sits just south of Yorkville. Are there any deals to be found in older condo buildings?
We looked at four one-bedroom units that sold in January, February and the first week of March in 2021. They ranged in size from 550 -700 sf. Sale prices ranged from $900 -$1,000 psf. The interesting point is that the cheapest price was in January and the most expensive was in March. Over 10 weeks, prices in this building have risen by about 10% on a psf basis. There currently is nothing for sale.
Image source: polo1condo.ca
Image source: polo1condo.ca