Real Estate

One Manhattan Square Condos (New York City compared to Toronto)

  • Last Updated:
  • Mar 19th, 2019 9:25 am
[OP]
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Feb 9, 2009
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One Manhattan Square Condos (New York City compared to Toronto)

https://onemanhattansquare.com/#floorplans

For those who believe Toronto is overpriced.

Yes it's New York so will have a premium, lets get that out of the way.

But a basic 695 sq ft condo starting from 1.21 million USD (thats 1.6 million CDN as of today March 16th)... with condo fees starting from around $750 and monthly RE taxes over a grand a month

Toronto = bargain!
42 replies
Deal Addict
Jan 23, 2016
1035 posts
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Kitchener, ON
Didn’t realize toronto was the finance capital of the world or the most important city located in a global superpower. Reaching a bit aren’t we? Whatever helps you sleep at night.
[OP]
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Feb 9, 2009
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Sparky9087 wrote:
Mar 16th, 2019 11:49 am
Didn’t realize toronto was the finance capital of the world or the most important city located in a global superpower. Reaching a bit aren’t we? Whatever helps you sleep at night.
Doesnt matter... i already stated there is a NYC premium built in (and for NYC it's still well above the median income) but it's a sign of where prices will be going in TOronto eventually and the magical crash you Sparky and everyone else thinks is coming isnt....just too much global wealth.

And with the NDP attack in BC on wealth (Idiots will regret that), much of it will be shifting to Toronto this year...
Deal Addict
Jan 23, 2016
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Sanyo wrote:
Mar 16th, 2019 11:56 am
Doesnt matter... i already stated there is a NYC premium built in (and for NYC it's still well above the median income) but it's a sign of where prices will be going in TOronto eventually and the magical crash you Sparky and everyone else thinks is coming isnt....just too much global wealth.

And with the NDP attack in BC on wealth (Idiots will regret that), much of it will be shifting to Toronto this year...
Global wealth is tied to inflated asset prices ;) ;)
[OP]
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Feb 9, 2009
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Sparky9087 wrote:
Mar 16th, 2019 11:57 am
Global wealth is tied to inflated asset prices ;) ;)
In your mind...
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Jun 7, 2008
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Oakville
Sanyo wrote:
Mar 16th, 2019 11:56 am
Doesnt matter...
It does matter if you want to use that as a rationale for higher prices in Toronto.
[OP]
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adam west wrote:
Mar 16th, 2019 12:16 pm
It does matter if you want to use that as a rationale for higher prices in Toronto.
Toronto is growing, especially the tech sector. It doesnt need to be the centre of finance or anything to justify higher prices, just a growing population and economy and a city that attracts foreign capital. Lots of people will be left out as their useless liberal arts degree doesnt hold up anymore with people with lots of skills relevant to today's needs are getting ahead (as well as demographic shift in the GTA where immigrants are now largely living in 2-3 generation households, hence multiple more incomes, even if they just work in slave labor factory jobs. The days where some of your Dads could work at Ford and afford a house is long gone).

And my point was people believe no one will spend 1.6 mil CDN on a shoebox condo but people are apparently and the trend looks good for Toronto even with short term hiccups.

By the way how the hell are you a newbie when you've been here for more than 10 years weird.
Newbie
Jun 10, 2018
14 posts
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Does this mean houses in the GTA outside of Toronto will be as low priced as the houses and condos outside Manhattan?
[OP]
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Undisputed1900 wrote:
Mar 16th, 2019 12:29 pm
Does this mean houses in the GTA outside of Toronto will be as low priced as the houses and condos outside Manhattan?
Nope. Is there a Brampton or Markham or Mississauga or any area where multi-generational immigrants live in nyc? Tho... Greenwich ain’t cheap ;)

In Toronto largely immigrants trended to gta west and why the west has historically always been more expensive but now we are seeing immigrants also moving to the east and why prices are moving higher there too then historically.
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Apr 23, 2006
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Toronto
I appreciate how these units are big and spacious. 700 sq ft for a one bed room, 1100 sq for for 2 bedroom Here in Toronto they try to cram 2 bed rooms in a 700 sq for unit, or a 1+den in a 550 sq ft unit.
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Jun 10, 2018
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Sanyo wrote:
Mar 16th, 2019 12:35 pm
Nope. Is there a Brampton or Markham or Mississauga or any area where multi-generational immigrants live in nyc? Tho... Greenwich ain’t cheap ;)

In Toronto largely immigrants trended to gta west and why the west has historically always been more expensive but now we are seeing immigrants also moving to the east and why prices are moving higher there too then historically.
So why can I find 300k condos and 500k detached houses in Yonkers which is a one hour train ride to Manhattan yet you can barely find a townhouse within an hour train ride to Toronto
Deal Addict
Jan 23, 2016
1035 posts
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Kitchener, ON
Sanyo wrote:
Mar 16th, 2019 12:21 pm
Toronto is growing, especially the tech sector. It doesnt need to be the centre of finance or anything to justify higher prices, just a growing population and economy and a city that attracts foreign capital. Lots of people will be left out as their useless liberal arts degree doesnt hold up anymore with people with lots of skills are getting ahead (as well as demographic shift in the GTA where immigrants are now largely living in 2-3 generation households, hence multiple more incomes, even if they just work in slave labor factory jobs. The days where some of your Dads could work at Ford and afford a house is long gone).

By the way how the hell are you a newbie when you've been here for more than 10 years weird.
Median NYC household income = 50,711 USD
Median NYC home price=674,000 USD
13.48xmedian income

Toronto median household income = 70,366 CAD(52,726)
Toronto median home price =854,000 CAD
12.2xmedian income

So looking at the actual numbers rather than a cherry picked condo development, it seems NYC is 10% more expensive than Toronto. That being said, if you’re a software developer the average Toronto salary is 65,000 CAD where in NYC Its 106,000 USD. Tough choice. Better get a TN visa.

Bottom line, if you’re a young, single tech worker you are a damned fool to be living in Toronto. You can have a TN visa for up to 12 years. You will make 2x as much in NYC and the single women/man ratio in NYC is extremely high. Move to NYC. Make bank working in tech. Home prices comparable to Toronto. Marry cute American. Get green card.
Last edited by Sparky9087 on Mar 16th, 2019 1:07 pm, edited 1 time in total.
[OP]
Deal Fanatic
Feb 9, 2009
7775 posts
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Undisputed1900 wrote:
Mar 16th, 2019 12:46 pm
So why can I find 300k condos and 500k detached houses in Yonkers which is a one hour train ride to Manhattan yet you can barely find a townhouse within an hour train ride to Toronto
You can find a detached around 500k-600k in Hamilton... which is about an hour train away from Toronto.
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Jun 7, 2008
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Oakville
Sanyo wrote:
Mar 16th, 2019 12:21 pm
By the way how the hell are you a newbie when you've been here for more than 10 years weird.
I presume it is because I don't post all that often? Not too sure!
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Dec 20, 2018
1481 posts
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Sanyo wrote:
Mar 16th, 2019 11:47 am
https://onemanhattansquare.com/#floorplans

For those who believe Toronto is overpriced.

Yes it's New York so will have a premium, lets get that out of the way.

But a basic 695 sq ft condo starting from 1.21 million USD (thats 1.6 million CDN as of today March 16th)... with condo fees starting from around $750 and monthly RE taxes over a grand a month

Toronto = bargain!
That's really cheap compared to even west coast let alone Asia

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