YSL Condo LauchOctober 19, 2018 | Buying
If there was any doubt about the strength of the condo market in downtown Toronto, those uncertainties were shattered at the YSL Condo launch event held this week. The developer, Cresford, has even done away with a sales office, and instead hosted the agent-only event at the Four Seasons Hotel in Yorkville. This YSL Condo launch is specific to the floor levels up to 68, so the remaining levels that will add up to the expected total height of 85 stories will be launched at a later date, with likely even grander sizes and prices to match.
It always pays to speak with the “people on the ground” at these events too, since they are like the eyes and ears of what’s really going on, rather than just the super hyped-up sales representatives for the builder. For the Platinum VIP launch event (the first of several agent events), the security guard I spoke with said “there were, like, 800 people packed in here going crazy, and one woman even fainted!”. Talk about hype! (If his story can be believed.)
I don’t actually have any reason to not believe that, since from the event I attended just following that, there were agents in throngs, all busily on their phones speaking with clients, flipping through floor plan booklets and jotting down notes on worksheets. My suspicion is that by the time this week is out, 90% (if not 100%) of the units on offer will be sold out.
Location is the prime mover on the rapid selling of these suites, in my opinion. YSL Condos is going to be located at the south east corner of Yonge & Gerrard, right next to the ever-expanding Ryerson University, while also being spitting distance to the University of Toronto, the Hospital District, tonnes of government offices, and also not that far from the Financial District. The developer, Cresford, has also made a more prominent name for itself recently with the successful completion of a number of projects in the area, including Casa Condos, Vox Condos and 1 Thousand Bay, amongst other developments around the city.
The prices on the other hand are not the attraction… at least compared with today’s resale condo pricing! Depending on the size, exposure and floor level, the $/sq.ft. averages at around $1,400. Some of the prime suites with better views and layouts go well above that average.
The suites themselves vary from miniscule micro units with as low as 311 sq.ft. with the majority of the bachelor units being under 400 sq.ft. in size. The largest suites on offer were two bedroom suites with “Sky View” (meaning above floor 40) and one reaches into just over 1,200 sq.ft., though most hover at or below 1,000 sq.ft. Anything in that size range is well over $1,000,000 to purchase.
Here are some floor plans below to help give you an idea of the range of size available for sale right now:
This is undoubtedly a hot condo right now that’s getting loads of interest. To speak with us to obtain access to the exact pricing and floor plans for this upcoming condo in the Yonge Street Corridor, contact us asap!