Yorkville is a district in Toronto, Ontario, Canada, well known for its shopping. Yorkville has become one of Canada's most sought after condo neighbourhoods. It is a former village, in central Toronto. The boundary is Bloor Street to the south, Davenport Road to the north, Yonge Street to the east and Avenue Road to the west, and is considered part of the 'The Annex' neighbourhood officially. It is recognized as one of Canada's most exclusive shopping districts boasting the infamous mink mile.
Yorkville now commands rents of $400 per square foot, making it the third most expensive retail space in North America. In 2015, Bloor St. was named the seventh most expensive shopping street in the world by Fortune Magazine, claiming tenants can pull in $2,500 to $6,500 per square foot in sales.
The decadence of the ’80s transformed this former hippie haven (remember the Riverboat?) into the posh area of today. Incorporated in 1853, it was the first village annexed by the City of Toronto (in 1883), and its original coat of arms graces the historic fire hall at 34 Yorkville. From brand-name boutiques lining Bloor (Gucci, Prada) to the gourmet mecca south of Summerhill (the Five Thieves and flagship LCBO), platinum cards get a workout at both ends of the ’hood. And while its days as ground zero for TIFF are numbered, the luxe hotels will always draw A-list celebs and affluent tourists. Condominiums seem to multiply by mitosis and extend all the way to beautiful Ramsden Park, where they give way to lovingly restored homes on leafy side streets.
Yorkville Real Estate
New condos in Yorkville offer some of the priciest real estate in the city. Most condos are over $1,000 per square foot and can be as expensive as $3,5000 per suare foot (2017).
It’s no surprise that with all the luxe and glamour of Yorkville it is one of the hottest places to live in the city. Due to the neighbourhood’s status, condos in Yorkville tend to be more pricey compared to the rest of the city but you’re buying location convenience and style when choosing a condominium in Yorkville. For example, the new Four Seasons Hotel and Private Residences, arguably the best addresses to live at, sold its penthouse for 28-million dollars - approximately $3,000 per square foot. The building has other suites costing between $1,400 and $2,000 per sq ft. With a moderate density and buildings between 20 to 50 storeys, purchasing a condo in Yorkville means living the lap of luxury. This neighbourhood is ideal for professional singles and we are now seeing a huge group of empty nesters flocking to this neighbourhood. Many who have live in Rosedale and Forest Hill have looked at this area keeping them close to their home ties. Another reason empty nesters are residing in Yorkville is these condos tend to have more larger size units than the condo further north and south of the neighbourhood., as 40 per cent of residents find themselves unattached, compared to an average rate 32 per cent for the rest of the city. In terms of pricing, you can expect a pre-construction Yorkville condominium to cost you approximately:
A re-sale condominium in Yorkville will cost around:
During the TIFF film festival and throughout the year it is not unusual to spot celebrities roaming the streets of Yorkville. With luxury hotels such as the Four Seasons, Park Hyatt, the Windsor Arms hotel and more, along with MTV headquarters located in this neighbourhood, it’s no surprise that A-listers frequent Yorkville. Other entertainment in the area includes the Royal Ontario Museum, George R. Gardiner Museum of Ceramic Art and the McLaughlin Planetarium. There are also a number of high-end, famed restaurants in Yorkville including Sassafraz, Pangaea, Preggo Della Piazzo and Bistro 990. For those interested in enjoying some culture, there various high-end art galleries in Yorkville including Gallery One, Drabinsky Gallery, Scollard Scott Gallery, Feheley Fine Arts and many more.
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