Real Estate

What do you guys think about the Monde condo?

  • Last Updated:
  • Oct 3rd, 2020 11:55 pm
Tags:
Deal Expert
User avatar
Aug 2, 2010
15193 posts
4912 upvotes
Here 'n There
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!
oh geez, you bought expecting appreciation in 7 mos? Whoa!!! Who knows if you overpaid. You're a speculator not an investor so you might lose your shirt, or not... Yes the condo market has appreciated significantly in past years but that means nothing. Condos are basically marked up concrete and drywall with a huge liability attached to pay your share of a poorly managed building (which is the case with most condos).
Deal Expert
User avatar
Aug 2, 2010
15193 posts
4912 upvotes
Here 'n There
knightou123 wrote: in vancouver that would go for 900+. so ure price is fair at the moment after you pay the tax upon completion
Great comparison since we're over 4,000 km from Vancouver... Might as well be on Mars.
Deal Addict
User avatar
Jul 4, 2006
3556 posts
674 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.
https://www.thestar.com/news/gta/2019/0 ... pment.html

"Although the city has been studying it for more than a decade, the line is unfunded and there is no firm timeline for its construction."
Deal Guru
Feb 29, 2008
13374 posts
9251 upvotes
poorwingman wrote: https://www.thestar.com/news/gta/2019/0 ... pment.html

"Although the city has been studying it for more than a decade, the line is unfunded and there is no firm timeline for its construction."
This city has a terrible track record when it comes to building any form of public transit infrastructure that goes beyond bus routes. Don't expect anything here for a long, long time.
Sr. Member
Nov 10, 2017
762 posts
526 upvotes
In additional of the current TTC bus schedule, there is shuttle bus service running from MONDE condo to and from Union Station during morning and afternoon peak hours.

can you imagine if the Sidewalk Lab plan is approved and LRT is confirmed, what will happen to the real estate prices at East Bayfront ?

Untitled.png
☝🏻177 suites rented in 6 months
Last edited by JosephB012 on Jun 25th, 2019 7:56 am, edited 1 time in total.
Deal Addict
Apr 14, 2017
1967 posts
615 upvotes
DT Calgary
JosephB012 wrote: In additional of the current TTC bus schedule, there is shuttle bus service running from MONDE condo to and from Union Station during morning and afternoon peak hours.

can you imagine if the Sidewalk Lab plan is approved and LRT is confirmed, what will happen to the real estate prices at East Bayfront ?


Untitled.png
You realize how long this will take? If OP holds onto the property for 15 years maybe.
Sr. Member
Nov 10, 2017
762 posts
526 upvotes
FreshCo wrote:
You realize how long this will take? If OP holds onto the property for 15 years maybe.

It was priced at 700 ppsf and is now market at 1300ppsf
Deal Addict
User avatar
Jul 4, 2006
3556 posts
674 upvotes
JosephB012 wrote: In additional of the current TTC bus schedule, there is shuttle bus service running from MONDE condo to and from Union Station during morning and afternoon peak hours.

can you imagine if the Sidewalk Lab plan is approved and LRT is confirmed, what will happen to the real estate prices at East Bayfront ?


☝🏻177 suites rented in 6 months
Is this the schedule? https://kingshuttle.ca/monde. The need for a shuttle shows how far it is from everything. And the hours aren't even that good in the evening.

LRT will take forever. In that time, real estate will go up everywhere.

Who cares how many have been rented? It's like that in all new builds.
JosephB012 wrote: It was priced at 700 ppsf and is now market at 1300ppsf
Your analysis should consider (admittedly with transaction costs) if you were to switch properties at $1,300 psf what the other would do in 10-15 years. (i.e. In an area where you didn't have to wait for LRT and the development of retail and dining)
Sr. Member
Nov 10, 2017
762 posts
526 upvotes
poorwingman wrote:
Is this the schedule? https://kingshuttle.ca/monde. The need for a shuttle shows how far it is from everything. And the hours aren't even that good in the evening.

LRT will take forever. In that time, real estate will go up everywhere.

Who cares how many have been rented? It's like that in all new builds.



Your analysis should consider (admittedly with transaction costs) if you were to switch properties at $1,300 psf what the other would do in 10-15 years. (i.e. In an area where you didn't have to wait for LRT and the development of retail and dining)

The shuttle bus is in additional to TTC bus schedule. Sold data is not my analysis, Its real time data, you dont need to like it and accept it and it is your personal analysis.

If LRT/transit is the only main factor that will affect the bottom line, then real estate prices at Post Road and Bridle Path area should be cheaper than Jane and Finch

The following are the confirmed food places at Daniels Waterfront "The Yard" - El Chapo Taco, South St. Burger, Freshii, Mediterranean Fresh, Booster Juice, Chaska Indian Street Food, and Great Lakes Brewery. Can't find anything you like or you can't wait, 10 minutes walk to St. Lawrence Market and Old Toronto area, 8 minutes walk to Loblaws at QQE. 8 minutes bike ride to T&T Supermaket.

Organic Garage will open a new location at Aquavista retail level and according to its website, construction is expected to start sometime this summer with an opening either late fall or early winter.

The most expensive suite available in the area is $8.8 million at Tridel's Aquanluna with many multi million suites in the same building as well as in Aquabella.

People I know who bought in this project in the beginning are winners. Try to argue that.

TTC Bus Schedules:

http://www.ttc.ca/Routes/75/Northbound.jsp

http://www.ttc.ca/Routes/6/Northbound.jsp

daniels.png
Last edited by JosephB012 on Jun 25th, 2019 3:46 pm, edited 3 times in total.
Deal Addict
Apr 14, 2017
1967 posts
615 upvotes
DT Calgary
JosephB012 wrote: It was priced at 700 ppsf and is now market at 1300ppsf
When did I say otherwise?
Newbie
Aug 14, 2020
1 posts
1 upvote
JosephB012 wrote: The shuttle bus is in additional to TTC bus schedule. Sold data is not my analysis, Its real time data, you dont need to like it and accept it and it is your personal analysis.

If LRT/transit is the only main factor that will affect the bottom line, then real estate prices at Post Road and Bridle Path area should be cheaper than Jane and Finch

The following are the confirmed food places at Daniels Waterfront "The Yard" - El Chapo Taco, South St. Burger, Freshii, Mediterranean Fresh, Booster Juice, Chaska Indian Street Food, and Great Lakes Brewery. Can't find anything you like or you can't wait, 10 minutes walk to St. Lawrence Market and Old Toronto area, 8 minutes walk to Loblaws at QQE. 8 minutes bike ride to T&T Supermaket.

Organic Garage will open a new location at Aquavista retail level and according to its website, construction is expected to start sometime this summer with an opening either late fall or early winter.

The most expensive suite available in the area is $8.8 million at Tridel's Aquanluna with many multi million suites in the same building as well as in Aquabella.

People I know who bought in this project in the beginning are winners. Try to argue that.

TTC Bus Schedules:

http://www.ttc.ca/Routes/75/Northbound.jsp

http://www.ttc.ca/Routes/6/Northbound.jsp


daniels.png
Don't forget the Distillery District with it's famous Christmas Market is also close by. Now in the summer of 2020, Monde is a fabulous place to live in with the matures trees along the waterfront plus the sidewalk cafe Against Grain by George Brown and Corus Entertainment east of the Sugar Beach. I'm one of the luck ones who bought pre-construction and paid $510K with car park + locker back in 2011 for a 1 BedRm + Den! With all the second to none Amenities like an infinity pool, gym, weight training room, spin cycle, yoga, sauna, steam rm, spa plus party room, meeting room, TV lounge, billiards rm it's like living in a resort. Absolutely no regrets.
Deal Expert
User avatar
Feb 11, 2009
18021 posts
5352 upvotes
Toronto
I see maintenance fees shot quite high for this one from original launch - particularly the last 2 years, any owners here who have a unit here?
Last edited by deal_with_singh on Oct 3rd, 2020 5:41 pm, edited 1 time in total.
Real Estate Agent, MAcc, CPA, CA
Newbie
Jun 25, 2015
94 posts
58 upvotes
Toronto, ON
deal_with_singh wrote: I see maintenance fees shot quite high for this one from original launch, any owners here who have a unit here?
Original launch was 2011 yeah no s#$& it would of went up..
Deal Expert
User avatar
Feb 11, 2009
18021 posts
5352 upvotes
Toronto
Aura12 wrote: Original launch was 2011 yeah no s#$& it would of went up..
Referring to last 2 years specifically. Spiked from $0.57/sqft to $0.85/sqft, curious if something happened here.
Real Estate Agent, MAcc, CPA, CA
Member
Oct 22, 2019
297 posts
270 upvotes
Its a good buy if you intend to hold for some time. I bought at Empire quay house project which is in the same area back in August and I intend to hold as the whole East Bayfront redevelopment takes shape.
Newbie
Jun 25, 2015
94 posts
58 upvotes
Toronto, ON
deal_with_singh wrote: Referring to last 2 years specifically. Spiked from $0.57/sqft to $0.85/sqft, curious if something happened here.
$0.57 all those amenities and internet included that seems unrealistic. Those budgets were still set way back when. Unknown property management could play a role.
Deal Expert
User avatar
Feb 11, 2009
18021 posts
5352 upvotes
Toronto
JD_Inv wrote: Its a good buy if you intend to hold for some time. I bought at Empire quay house project which is in the same area back in August and I intend to hold as the whole East Bayfront redevelopment takes shape.
I'd rather buy the tridel buildings across the street. But the ones with a nice view aren't coming on the market.
Real Estate Agent, MAcc, CPA, CA

Top