Real Estate

What do you guys think about the Monde condo?

  • Last Updated:
  • Oct 3rd, 2020 11:55 pm
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[OP]
Newbie
Dec 17, 2018
5 posts
3 upvotes

What do you guys think about the Monde condo?

Hi there,

I purchased a condo unit in one of the top floors of the Monde condo. It's a 1bd with 520 sqft, one parking spot and a locker.

West facing with a city view and a clear water view (S, SW).

I paid $700,000 (incl $65,000 parking and $4000 locker). Did I overpay? I bought this about 6-7 months ago and I'm not sure if it has appreciated at all.

Cheers!
56 replies
Deal Fanatic
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Jun 26, 2005
9973 posts
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Toronto
You need to have a longer term horizon. Check prices again after 10 years.
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Nov 19, 2018
50 posts
44 upvotes
$700,000 for 520sq ft? Oh lordy.
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Nov 5, 2018
2845 posts
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Considering you have a view of the water, I don't think you overpaid. When you take out what you paid for the parking and locker, you probably paid average per sqf for a new construction unit. I think you did OK.
Called the bottom.
Deal Addict
Mar 27, 2004
4947 posts
2929 upvotes
Toronto
ohhaiyo wrote: Hi there,

I purchased a condo unit in one of the top floors of the Monde condo. It's a 1bd with 520 sqft, one parking spot and a locker.

West facing with a city view and a clear water view (S, SW).

I paid $700,000 (incl $65,000 parking and $4000 locker). Did I overpay? I bought this about 6-7 months ago and I'm not sure if it has appreciated at all.

Cheers!
What floor?
Unobstructed views of Lake ontario at the Menkes Harbour plaza is selling for around 1300 $/sqft without locker on the higher premium habour collection floors. above 60th.
Full-time Realtor
[OP]
Newbie
Dec 17, 2018
5 posts
3 upvotes
It’s on the 40th floor.

Unobstructed view of the city from the east end and same thing with Lake Ontario.
Jr. Member
Jun 3, 2017
160 posts
136 upvotes
You overpaid.

For "downtown", you paid the average. But this is "East of Yonge", an area that is "downtown-ish" and yet not the downtown. It's far from everything that downtown offers and being the Eastern portion (and Lower Sherbourne), it's not exactly a "nice area". I'm sure you'll find someone to resell it if that's your intention, but they'll be overpaying whatever you're asking too.
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Jul 4, 2006
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rfdrfd wrote: You need to have a longer term horizon. Check prices again after 10 years.
AnotherDesiredUsername wrote: You overpaid.

For "downtown", you paid the average. But this is "East of Yonge", an area that is "downtown-ish" and yet not the downtown. It's far from everything that downtown offers and being the Eastern portion (and Lower Sherbourne), it's not exactly a "nice area". I'm sure you'll find someone to resell it if that's your intention, but they'll be overpaying whatever you're asking too.
Agreed.

I'd use "desolate" and "nothing" to describe the area. You're 10-15 years ahead of the time. The view is AAA+++ but
- the transit isn't good there and it's far from the subway. One would still have to budget quite a bit of time to get to work.
- there's nowhere to walk to or eat except maybe Against the Grain in Corus Quay
- the frontage to waterfront isn't that great. Is google satellite right? It goes from Jarvis to Sherbourne? But it's industrial east of Sherbourne and West of Jarvis until Bay Street?
Sr. Member
Nov 10, 2017
762 posts
526 upvotes
If the unit is facing west at 40th floor, you should have partial lake view. It would be perfect if you have full lake view to justify the price. That said, I think you made the right choice by investing into the East Bayfront area and Great Gulf is also a great builder.

Deal Addict
Mar 27, 2004
4947 posts
2929 upvotes
Toronto
ya you overpaid.
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Jr. Member
Jan 31, 2013
115 posts
105 upvotes
Toronto
If the unit is facing west at 40th floor, you should have partial lake view. It would be perfect if you have full lake view to justify the price. That said, I think you made the right choice by investing into the East Bayfront area and Great Gulf is also a great builder.
Are you the dude on the left or the right?
Deal Fanatic
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Jun 26, 2005
9973 posts
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Toronto
Are you living in this or is this an investment?
Member
Jan 27, 2018
329 posts
257 upvotes
Price is right with parking and locker... Should touch a million in the next 5-10 years from my perspective.
Last edited by Unknownname on Dec 19th, 2018 1:12 pm, edited 1 time in total.
Member
Mar 6, 2017
364 posts
238 upvotes
poorwingman wrote: Agreed.

I'd use "desolate" and "nothing" to describe the area. You're 10-15 years ahead of the time. The view is AAA+++ but
- the transit isn't good there and it's far from the subway. One would still have to budget quite a bit of time to get to work.
- there's nowhere to walk to or eat except maybe Against the Grain in Corus Quay
- the frontage to waterfront isn't that great. Is google satellite right? It goes from Jarvis to Sherbourne? But it's industrial east of Sherbourne and West of Jarvis until Bay Street?
Yes he overpaid as I’ve seen assignments for that building around $1000 psf with parking and on high floors

However desolate and nothing is a bit extreme here. I live close by.

St Lawrence market is 10 min away along with all the atuff on the esplanade and then there is front st east. People pay huge premiums to live near st Lawrence market and the esplanade

I do feel the builders have priced in way too much the anticipation of all the future development of east waterfront however it’s A great location close to the core but still quiet enough for now
Jr. Member
Jan 22, 2018
103 posts
52 upvotes
in vancouver that would go for 900+. so ure price is fair at the moment after you pay the tax upon completion
Member
Jan 27, 2018
329 posts
257 upvotes
They are going to extend the street car from union so transit is not going to be a issue by the time the condo is built... Google coming along right across... It will light up in price pretty fast in the near future later.
Sr. Member
Nov 10, 2017
762 posts
526 upvotes
dpacto wrote:
Yes he overpaid as I’ve seen assignments for that building around $1000 psf with parking and on high floors

However desolate and nothing is a bit extreme here. I live close by.

St Lawrence market is 10 min away along with all the atuff on the esplanade and then there is front st east. People pay huge premiums to live near st Lawrence market and the esplanade

I do feel the builders have priced in way too much the anticipation of all the future development of east waterfront however it’s A great location close to the core but still quiet enough for now
Unknownname wrote: They are going to extend the street car from union so transit is not going to be a issue by the time the condo is built... Google coming along right across... It will light up in price pretty fast in the near future later.


Those future developments are more or less confirmed.. MaRs/UofT and WPP are moving into Waterfront Innovation Center. Microsoft HQ will be 10 to 15 mins walking distance. East Harbour is on the horizon. The future is bright in this area. Price will be much higher once it is more established.
Member
Mar 6, 2017
364 posts
238 upvotes
Unknownname wrote: They are going to extend the street car from union so transit is not going to be a issue by the time the condo is built... Google coming along right across... It will light up in price pretty fast in the near future later.
JosephB012 wrote: Those future developments are more or less confirmed.. MaRs/UofT and WPP are moving into Waterfront Innovation Center. Microsoft HQ will be 10 to 15 mins walking distance. East Harbour is on the horizon. The future is bright in this area. Price will be much higher once it is more established.
How will the streetcar be done my the time the condo is done? The tracks haven’t even been laid down.

Also I never said the future developments are not confirmed. But paying $1350 psf when you could’ve gotten it for $1000 is overpaying

This area is going to be a construction, traffic and dust nightmare for the next 10-15 years

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