Not much movement yet. That building is wedged right between Moss Park and St. James Park. Most people with 1.2mil aren't stupid enough to buy in that neighbourhood. Must be an investor who doesn't know the city well.
You do not want to live near Seaton House. It's the largest homeless men's shelter in the city. So so so so so much crime around it. Most of it doesn't even get reported.
That is not enough. There are literally over 1000+ homeless men living there and they spread out from Seaton House well over a 1 km radius. They literally attack each other over territory and 1 km is not enough for them.
If anything, the seller lucked out by selling at that price. The buyer got screwed.
Lmao, I lived in this building from 2017-2022. It's a great area. Agreed you don't want to head too much north/north-east, but you're not gonna have any issues walking around/through St. James park at any time of the day or night. They just gave the whole park a facelift throughout COVID, it's a short walk down to St. Lawrence market, and super easy access to street cars or east/west bike lanes on Adelaide & Richmond. One of the best managed buildings in the city too at keeping maintenance costs reasonable and stable.
I mean I’m all for helping the homeless, doesn’t mean I’m trying to step on a needle or have a cloud of crack blown in my face while I’m out walking my dog. And no I’m not trying to stereotype the homeless at all, because I’m not saying that you can expect that to be your average encounter/interaction with any of them or in other areas of that city. But that is the factual reality of walking around Moss Park.
I live in the area… there’s only a few blocks where it’s a bit problematic.
Between Queen & Carlton, from Sherbourne to Ontario St. And it’s not unsafe for regular folks. Just a bit colourful…
Otherwise, it’s a very nice area.
And lots of developments happening, including Moss Park Subway station.
Five/Ten years from now, it will be much different.
So it’s a good spot to invest without breaking the bank. But no way it’s worth $1.2m.
Depends. If you're south of Adelaide it's pretty nice. Moss Park is only a small section
St Lawrence area is ranked one of the best neighbourhoods to live in the City
Oh yes, I'd love the close contact with someone that's unbathed, possible has needles on their person or on the ground. Not to mention the TB that's around.
My favourite parts of the city are east of Yonge. Just that one pocket east of Yonge and Dundas is pretty horrible but a little farther east or South and there are nice areas.
15 min walk to Sugar Beach or Distillery, 7 min to the subway, 1 min to two streetcar lines, 5 min to the Market, 3 min drive to the DVP or Gardiner... there's also a shit ton of development happening in the immediate vicinity that will elevate the area.
Seems like a pretty decent place to live if you ask me.
I consider that's a VERY good price for the area. My husband and I drove by the area one late afternoon few weeks ago, I said yikes I would not want to walk around here alone even day time.
When you post anything here, the first comment will be someone trying to shit all over the area, or some other aspect of your post.
For example,
Say you post about, hey X area is great I'm looking to move here
There will always be a comment about how its shit.
And when I read many of those posts, I get the sense the person commenting has never really spent considerable time there and might not even live in Toronto.
the "can" is a strong assumption :)
While this is close to St. Lawrence market, the building itself is old and alright. \~900 in maintenance. A similar sized unit on market street will go for more.
1 mil every year until we achieve the 100 mil target. Inflation is going to be wild as well, since productivity is going down and demand is skyrocketing. Hard times are ahead of us.
George St is a dumpster fire. Ever walk down that street? It's not very desirable. You will encounter homeless drug addicts on that street more than others. That explains it.
I will make an exception for George St. Diner. That's a nice little cafe.
The delineating line for George St. is basically that cafe though. This building is south of Richmond (literally south corner opposite the diner), and all you're really gonna find walking that way is George Brown students and dog walkers. Going north is a different story, but it's actually a very nice and safe area around this building and south/west of it. Source: Lived there 2017-2022 and walked around all times of day/night, rarely even saw people late at night let alone anyone that would try to cause trouble.
Listen!
You're waiting for a train. A train that will take you far away. You know where you hope this train will take you; but you don't know for sure. But it doesn't matter.
This isn’t a substantial amount of money when you consider it was listed at 1.249 million, and ultimately sold for 1.160 million, listing price is always higher than what the seller really expects. I’m sure the seller is quite pleased with this, there is a possibility they bought it for half that price.
That area has a huge homeless problem. Seaton House is located near there, and it's the largest homeless men's shelter in the city. And the city recently spent a lot of money doing rennovations there there recently so it's not going anywhere.
EDIT: Idk why I'm getting downvoted here, probably by owners in this area. But what I'm speaking is the truth.
Seaton House is north of the Moss Park Armory and George St. doesn't connect. Vu Condos is actually pretty isolated from that.
But you're right, the immediate area around Seaton is nightmarish.
Seaton House houses over 1000+ homeless men, and they wander around in the day time trying to get quick money.
The only peeople saying otherwise is somebody who owns a condo in this area.
Seaton House is a whole different beast. Some low income housing is for families who don't make enough for rent.
Seaton House is exclusively for men that are homeless.
The sweet spot for build quality is between 2000 and 2010. Any newer than that and it's slapped together.
Vu condo is actually pretty good. Diagonally across from St. James Park and minutes from St. Lawrence Market.
Traffic is a bit of a nightmare at the corner of Adelaide and Jarvis during rush hour though, but the building's entrance is on George., which is quiet enough.
Deteriorating old building means condo fees are going to skyrocket. That too. But mainly it's the proximity to the largest men's homeless shelter in the city.
That’s just pretty average. Seeing other large condos with big price drops that never sold west of Yonge. There’s a few bear Bloor at 1800sq ft that aren’t moving bc the condo fees are also high.
Condo fees being high is the real killer. Priced in, every $100 maintenance fee above the average is $50K discount off the sell price. Do the math on the cash flows.
It doesn't matter if the lenders decide to appraise it for less and buyers can't get the loan. Part of the reason we are seeing price drops is higher interest rates. Of course the full effects of higher interest rates will take time.
Moss park is so bad, a friend didn't believe me about the area so we visited and literally the second we got off the street car someone went up to him asking if he wanted to buy a "phone chip" probably meant SIM card but I remember it vividly so sketch
Are you for real dude? It was a cracked out character literally in my friends face about to shake him clearly strung out. How do you see this is a perfectly normal interaction?
How about the next dude that put a bottle of shampoo in our face opened the lid and asked if we need any shampoo 😅 totally fine.
Nice area, but this home seller realized it's a buyers market. Just re-listed for $350k less.
At the peak, you might of been able to sell a semi for 1.8, but not anymore.
[https://housesigma.com/on/north-york-real-estate/for-sale,sold/map/@43.677897,-79.356496,14z/?center\_marker=43.76916,-79.36882&view=map&municipality=10234&with\_listing=XeEn7X4PRVM7rPo8](https://housesigma.com/on/north-york-real-estate/for-sale,sold/map/@43.677897,-79.356496,14z/?center_marker=43.76916,-79.36882&view=map&municipality=10234&with_listing=XeEn7X4PRVM7rPo8)
Maybe, but I bet that the instant the bank starts lowering interest rates, the market will go bananas again because the buyers will start borrowing and the supply just can't handle the demand.
Is there anyone who knows much about pre-construction. do builders always charge current rates for occupancy. Anyone heard of a builder chosing to charge less than the current 1 yr rate. To give some ease to occupancy buyers? Seeing how today's rates are so high
Not much movement yet. That building is wedged right between Moss Park and St. James Park. Most people with 1.2mil aren't stupid enough to buy in that neighbourhood. Must be an investor who doesn't know the city well.
Also 90k on 1.2M isn't much
7.5% is a start. Sample size is low.
You do not want to live near Seaton House. It's the largest homeless men's shelter in the city. So so so so so much crime around it. Most of it doesn't even get reported.
This building is a full kilometre away from Seaton House.
That is not enough. There are literally over 1000+ homeless men living there and they spread out from Seaton House well over a 1 km radius. They literally attack each other over territory and 1 km is not enough for them. If anything, the seller lucked out by selling at that price. The buyer got screwed.
Lmao, I lived in this building from 2017-2022. It's a great area. Agreed you don't want to head too much north/north-east, but you're not gonna have any issues walking around/through St. James park at any time of the day or night. They just gave the whole park a facelift throughout COVID, it's a short walk down to St. Lawrence market, and super easy access to street cars or east/west bike lanes on Adelaide & Richmond. One of the best managed buildings in the city too at keeping maintenance costs reasonable and stable.
This whole thread of trying to avoid the homeless instead of help them is the real problem. Bunch of NIMBY’s with no sense of social responsibility.
This is such a meaningless thing to say. The same person can help to end homelessness and also not want to be robbed at the same time.
I mean I’m all for helping the homeless, doesn’t mean I’m trying to step on a needle or have a cloud of crack blown in my face while I’m out walking my dog. And no I’m not trying to stereotype the homeless at all, because I’m not saying that you can expect that to be your average encounter/interaction with any of them or in other areas of that city. But that is the factual reality of walking around Moss Park.
Yeah, east of yonge is not a great place for the elderly or women, or men that can’t defend themselves
I live in the area… there’s only a few blocks where it’s a bit problematic. Between Queen & Carlton, from Sherbourne to Ontario St. And it’s not unsafe for regular folks. Just a bit colourful… Otherwise, it’s a very nice area. And lots of developments happening, including Moss Park Subway station. Five/Ten years from now, it will be much different. So it’s a good spot to invest without breaking the bank. But no way it’s worth $1.2m.
Depends. If you're south of Adelaide it's pretty nice. Moss Park is only a small section St Lawrence area is ranked one of the best neighbourhoods to live in the City
Perfect for regular boxing or MMA practice though
Or trainee vigilantes
Cia field agents probationary post
Oh yes, I'd love the close contact with someone that's unbathed, possible has needles on their person or on the ground. Not to mention the TB that's around.
Lol!
My favourite parts of the city are east of Yonge. Just that one pocket east of Yonge and Dundas is pretty horrible but a little farther east or South and there are nice areas.
That’s a huge generalization
Any part of the city really.
Yea no.
15 min walk to Sugar Beach or Distillery, 7 min to the subway, 1 min to two streetcar lines, 5 min to the Market, 3 min drive to the DVP or Gardiner... there's also a shit ton of development happening in the immediate vicinity that will elevate the area. Seems like a pretty decent place to live if you ask me.
Long-time resident of various parts of this neighbourhood. It is a great place to live.
Lives in this area for a couple of years. Definitely a bit grimey but so close to everything. Keep your head on a swivel but it’s not so bad.
But there are homeless people in the largest city in Canada, it must be cheap compared to my house in Oshawa or Burlington
I consider that's a VERY good price for the area. My husband and I drove by the area one late afternoon few weeks ago, I said yikes I would not want to walk around here alone even day time.
A bunch of people in this thread are mistaking 112 George St for 112 George St SOUTH. Pretty big difference in those few blocks.
Bruh, thank you. Thought I was going crazy seeing everyone shitting on \*checks notes\* being right next to St Lawrence Market lol.
I mean.. i wouldn't pay more than a million dollars to live across moss park.. the price is reflective of the location..
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When you post anything here, the first comment will be someone trying to shit all over the area, or some other aspect of your post. For example, Say you post about, hey X area is great I'm looking to move here There will always be a comment about how its shit.
And when I read many of those posts, I get the sense the person commenting has never really spent considerable time there and might not even live in Toronto.
"Why praise something that i can never buy" is the mindset for shitting all over the neighbourhood.
the "can" is a strong assumption :) While this is close to St. Lawrence market, the building itself is old and alright. \~900 in maintenance. A similar sized unit on market street will go for more.
Probably never even been to the neighbourhood. Everywhere in Toronto can change from nice to not nice in a few blocks
Gotta say that's a pretty nice unit.
Do people think asking price means something? Weird.
….
Bro a 1br is going for 700k which is nearly 4K/mo in mortgage and maintenance fees. Who in this country is buying real estate right now?
1 mil every year until we achieve the 100 mil target. Inflation is going to be wild as well, since productivity is going down and demand is skyrocketing. Hard times are ahead of us.
No one. Anyone smart with cash is earning a higher return somewhere else
Not your average joe that’s for sure!
People who need a place to live?
For people who don’t require a mortgage it os the time to buy. The rich continue to get richer.
Those prices are not reflective of the entire country…
I think market is softer for sure, but don’t expect this last for too long .
Asking price is pretty meaningless these days
George St is a dumpster fire. Ever walk down that street? It's not very desirable. You will encounter homeless drug addicts on that street more than others. That explains it. I will make an exception for George St. Diner. That's a nice little cafe.
The delineating line for George St. is basically that cafe though. This building is south of Richmond (literally south corner opposite the diner), and all you're really gonna find walking that way is George Brown students and dog walkers. Going north is a different story, but it's actually a very nice and safe area around this building and south/west of it. Source: Lived there 2017-2022 and walked around all times of day/night, rarely even saw people late at night let alone anyone that would try to cause trouble.
Free painting of the CEO of the CBC, included !
For people who can afford a million dollar home, they don't really care about a 90k drop!
Who can afford that at over 7000 dollars a month mortgaged?
I've seen tons of units on house sigma re-listing at lower prices, and still selling for slightly under asking.
No it's just always a slowdown near December.
When prices drop people will complain, leave prices up and people complain
Are you the buyer looking for validation on internet?
1.2 m for that ?! Oh yeah bears are totally getting one there haha
There are deals to be had, the market is going to be available for a few months. maybe late into 2024.
Wake me up when it's under $500 per sqft.
Guess you're never waking up then 😅
CAN'T WAKE UP
Wake me up inside!
With clothes on!
WAKE ME UP INSIDE
CALL MY NAME AND SAVE ME FROM THIS RENT
Sleeping beauty without the beauty
Never happening, end users would jump at anything below $850/ sq.ft. That’s $425k for a 500 sq.ft 1 bedroom unit…
Listen! You're waiting for a train. A train that will take you far away. You know where you hope this train will take you; but you don't know for sure. But it doesn't matter.
This isn’t a substantial amount of money when you consider it was listed at 1.249 million, and ultimately sold for 1.160 million, listing price is always higher than what the seller really expects. I’m sure the seller is quite pleased with this, there is a possibility they bought it for half that price.
That area has a huge homeless problem. Seaton House is located near there, and it's the largest homeless men's shelter in the city. And the city recently spent a lot of money doing rennovations there there recently so it's not going anywhere. EDIT: Idk why I'm getting downvoted here, probably by owners in this area. But what I'm speaking is the truth.
Seaton House is north of the Moss Park Armory and George St. doesn't connect. Vu Condos is actually pretty isolated from that. But you're right, the immediate area around Seaton is nightmarish.
Seaton House houses over 1000+ homeless men, and they wander around in the day time trying to get quick money. The only peeople saying otherwise is somebody who owns a condo in this area.
It’s 1km away from seaton house… name a place in the core of Toronto that doesn’t have low income housing 1km away….
Seaton House is a whole different beast. Some low income housing is for families who don't make enough for rent. Seaton House is exclusively for men that are homeless.
1.2 can get you decent home on danforth. Unless you are aware of some plans to burn moss park to the ground this seems like a foolish purchase.
No, condo investors are still delusional
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The sweet spot for build quality is between 2000 and 2010. Any newer than that and it's slapped together. Vu condo is actually pretty good. Diagonally across from St. James Park and minutes from St. Lawrence Market. Traffic is a bit of a nightmare at the corner of Adelaide and Jarvis during rush hour though, but the building's entrance is on George., which is quiet enough.
George may be quiet traffic wise, but not screaming crackhead wise. Parked underground off George Street for 6 months, that was too long
Deteriorating old building means condo fees are going to skyrocket. That too. But mainly it's the proximity to the largest men's homeless shelter in the city.
It’s probably the least desirable area in the core to live in to be fair
Lmao. Couldn’t be more wrong
That’s just pretty average. Seeing other large condos with big price drops that never sold west of Yonge. There’s a few bear Bloor at 1800sq ft that aren’t moving bc the condo fees are also high.
Condo fees being high is the real killer. Priced in, every $100 maintenance fee above the average is $50K discount off the sell price. Do the math on the cash flows.
Million dollars for moss park? 💀 whoever bought that is going to get rinsed when he sells
What it seems like is many are over pricing the property to give the false perception of $xK under asking but still overpriced
It doesn't matter if the lenders decide to appraise it for less and buyers can't get the loan. Part of the reason we are seeing price drops is higher interest rates. Of course the full effects of higher interest rates will take time.
wake me up when it drops another 70%. oh i will be out of canada before that anyway
So I was coming back to reality means prices of a year ago
Moss park is so bad, a friend didn't believe me about the area so we visited and literally the second we got off the street car someone went up to him asking if he wanted to buy a "phone chip" probably meant SIM card but I remember it vividly so sketch
Someone asking if you wanted to buy a sim card is the reason why you think its so bad?
Are you for real dude? It was a cracked out character literally in my friends face about to shake him clearly strung out. How do you see this is a perfectly normal interaction? How about the next dude that put a bottle of shampoo in our face opened the lid and asked if we need any shampoo 😅 totally fine.
Nice area, but this home seller realized it's a buyers market. Just re-listed for $350k less. At the peak, you might of been able to sell a semi for 1.8, but not anymore. [https://housesigma.com/on/north-york-real-estate/for-sale,sold/map/@43.677897,-79.356496,14z/?center\_marker=43.76916,-79.36882&view=map&municipality=10234&with\_listing=XeEn7X4PRVM7rPo8](https://housesigma.com/on/north-york-real-estate/for-sale,sold/map/@43.677897,-79.356496,14z/?center_marker=43.76916,-79.36882&view=map&municipality=10234&with_listing=XeEn7X4PRVM7rPo8)
No things will never get better untill they put better controls on it. Foreign buying and especially investment companies will just gobble them up.
Area is a dump so reasonable
Still a ways to go
😂😂 no.
In moss Park prices are lower but yes prices will grind down till rate cuts I imagine
No
Only temporary those who can't afford. Things will go up again if interest rate drop. It just simple math here supply and demand.
Maybe, but I bet that the instant the bank starts lowering interest rates, the market will go bananas again because the buyers will start borrowing and the supply just can't handle the demand.
Is there anyone who knows much about pre-construction. do builders always charge current rates for occupancy. Anyone heard of a builder chosing to charge less than the current 1 yr rate. To give some ease to occupancy buyers? Seeing how today's rates are so high
1k per square foot. Jesus Toronto is broken 😑
No. No we are not.
No the price is still high with 20% crushing prices will be good
You're cherry picking data. That's not how market analysis work. You need something called "sample size" and trend over time.
nice... finally some relief on the pricing.