VIP Event: The Berwick – Midtown’s Newest Development

Midtown Toronto has seen something of a resurgence in recent years, with great developments by Minto at 2181 & 2191 Yonge Street and the ever popular Davisville & Merton neighbourhoods offering great alternatives to Downtown living. Amit & Roy were recently invited to the VIP Event for the newest development in Midtown, "The Berwick" and it looks like a promising addition to the neighbourhood.

OTHER NEW DEVELOPMENTS

Development	Address	Price/Sq.Ft	Occupancy	Parking	Deposit Structure
The Berwick	2008 Yonge	$575-$600	June 2013	$35,000-$39,000	20%+5%
MYC	2111 Yonge	$530-$580	May 2012	$35,000	15%+10%

RESALE

When looking at new developments, it is of utmost important to see what the current inventory is selling for. In some markets (::Cough:: Mississauga ::Cough::) builders have been seen selling as high as $100 per square foot more than the market value in 6% appreciation rate areas, meaning buyers have a lot of catching up to do if they want to see any profit on their investments.

Address	Approx Price/Sq.Ft.	Approx. Appreciation Rate
2181 Yonge St.	$480-$550	7.5%-9%
2191 Yonge St.	$480-$550	Insufficient Information

The two buildings by Minto have seen excellent appreciation (when comparing to the average GTA project. There are areas in Toronto that have shown 10-12% appreciation) and offer decent comparison in terms of location and gives us a good idea of what kind of appreciation rates we can expect for Berwick. In terms of pricing, we have seen some units sell as high as $600 per square foot in both 2181 & 2191 Yonge, however, by and large they tend to be around the $500-$550 per square foot mark. Given that Berwick are selling as high as $600 per square foot, we're hopeful that they are offering some value added features to justify the extra cost.

If you are interested in learning more about this project, use the contact form below.

Interested in other great developments in Toronto? Click Here for our list of major developments currently selling to VIP agents. Other HOT Developments: Tableau | Studio | The Mercer | Chaz on Charles | Bisha

About the Author

Roy Bhandari

Roy is the younger of the brothers and has a sound knowledge of the marketplace. He excels in marketing, design, and advertising having graduated with an Honour's Degree in Marketing Management. Marketing is an important aspect of any business, but effective marketing drives consumers and sets you apart from everything else. It is imperative that you have someone that understands the theories and techniques so you can take advantage of the competitive edge.