New Condo Investment in Entertainment District

Entertainment District is an entertainment area along King Street, between University Ave and Spadina Ave. Let's now take a look at why and how to invest in new condos in Entertainment District through some data analysis.

Why to invest in Entertainment District 

  • 4 minutes walk to St. Andrew Subway Station
  • 10 minutes walk to Bay Street Financial District
  • Vibrant neighborhood with all the restaurants and theatres on King Street
  • An area well-liked by young professionals in the financial industry who work hard and play hard

Average Purchase Price for 0-5 years New Condos in Entertainment District 

  • For a 400 sq. ft studio, price will be $250,000, so the price per sq.ft is around $625
  • For a 500 sq. ft 1 bedroom suite, price will be $342,500, so the price per sq.ft is around $685
  • For a 600 sq. ft 1 bedroom +den suite, price will be $405,900, so the price per sq.ft is around $676
  • For a 700 sq. ft 2 bedroom suite, price will be $465,000, so the price per sq.ft is around $664
  • For a 800 sq. ft 2 bedroom +den suite, price will be $525,900, so the price per sq.ft is around $657
  • Parking is about $50,000

Resale Market in 2014

  • There are in total 509 transactions in 2014
  • 57 suites were under $300,000, and generally stayed on market for 35 days
  • 29 suites were from $300,000 to $400,000, and generally stayed on market for 35 days
  • 68 suites were from $400,000 to $500,000, and generally stayed on market for 36 days
  • 55 suites were above $500,000, and generally stayed on market for 44 days
  • The most popular price range is from $400,000 to $500,000
  • These are usually 1+den or small 2 bedrooms units.

Average Rental Income for 0-5 years New Condos in Entertainment District 

  • For a 400 sq. ft studio, monthly rent will be $1,400, so the rent per sq.ft is around $3.50
  • For a 500 sq. ft 1 bedroom suite, monthly rent will be $1,650 so the rent per sq.ft is around $3.30
  • For a 600 sq. ft 1 bedroom +den suite, monthly rent will be $1,800, so the rent per sq.ft is around $3.00
  • For a 700 sq. ft 2 bedroom suite, monthly rent will be $2,300, so the rent per sq.ft is around $3.29
  • For a 800 sq. ft 2 bedroom +den suite, monthly rent will be $2,600, so the rent per sq.ft is around $3.25

Rental Market in 2014

  • There are in total 1981 transactions in 2014
  • 92 suites were from $1,250 to $1,500, and generally stayed on market for 21 days
  • 648 suites were from $1,500 to $1,750, and generally stayed on market for 21 days
  • 540 suites were from $1,750 to $2,000, and generally stayed on market for 22 days
  • 172 suites were from $2,000 to $2,250, and generally stayed on market for 25 days
  • 159 suites were from $2,250 to $2,500, and generally stayed on market for 25 days
  • 370 suites were above $2,500, and generally stayed on market for 34 days
  • Extremely high rental consumption
  • The most popular type of suite is small 1 bedroom suites from $1,500 to $1,750

Recommend New Condo Development in Entertainment District 

  1. SQ2 is a new condo development by Tridel currently in preconstruction at Vanauley Street in Toronto

  2. King Blue Condos is a new condo development by Greenland Group currently under construction at 355 King St W in Toronto. The development is scheduled for completion in 2018. Sales for available units range in price from $214,998 to over $654,998. The development has a total of 913 units.

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Email: kathleen.xie@century21.ca

Mobile: 416-587-8381

Website: torontocondosdeal.com

 

 

Kathleen Xie

Kathleen Xie

Broker
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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