In September, Toronto’s 3050 Glencrest Rd. sold for $16.35 million. The apartment contains a total of 105 apartment units, representing a price per unit of $155,714.
- Address: 3050 Glencrest Rd., Toronto, Ont.
- Date of sale: September 6, 2013
- Sale price: $16,350,000
- Capitalization rate: 5 per cent
- Total number of units: 107
- Price per unit: $155,714
- Broker: Avison Young, D. Lieberman
In September, a total of $89 million was invested in multi-residential properties throughout the Greater Toronto Area. The average capitalization rate in the GTA during this period was 5.09 per cent, while the average price per unit increased from $169,000 in August to $175,000 in September. The year-to-date average price per unit is $169,328.
This “new and notable transaction” was provided by Richard Vilner, research manager at RealNet Canada Inc., a leading Canadian real estate information services company that powers the decisions of firms involved in approximately 75 per cent of the market activity. He can be reached at [email protected].
