20 Forest Manor Rd: A 1976 Greenwin Tower at the Lowest Price Per Sq Ft

20 Forest Manor Road is one of the least expensive ways I know to buy condo space in Henry Farm. It is a 1976 Greenwin building, 16 storeys and 190 suites, with newer glass towers on the same street, and its fee covers hydro, heat, cooling, cable and parking. Its price per square foot is far below what the newer towers nearby trade at, and the reasons are worth understanding before you buy. I’m Jatin Dua, RE/MAX Quantum Realty.

A 1976 building on a street of newer towers

Forest Manor Road has changed a great deal around this building. Further along the street are glass towers from the 2010s, such as Dream Tower at Emerald City at 62 Forest Manor Road, completed in 2015. Number 20 is from an earlier era: a 1976 Greenwin building, registered as YCC-290 in December 1976.

It has the practical character of its decade: a 16-storey tower with generous suites, designed for households moving out of houses rather than for investors. Its 190 suites make it a mid-sized building; Dream Tower, by comparison, has 327.

That contrast is the whole story of the price. You are buying an older building’s space and inclusions in a neighbourhood whose amenities and services have been rebuilt around it.

Large suites, and what comes with them

Condos.ca puts suite sizes at about 891 to 1,289 square feet. Current listings run from one-bedroom to two-bedroom plans, and a one-bedroom of more than 800 square feet is something you will not find in the new towers down the street.

Older layouts come with older details. Ask whether the suite has in-suite laundry, because many 1970s buildings were designed with shared laundry rooms instead, and ask where the locker is. Check the windows, the electrical panel and the heating and cooling units in the suite, and ask the seller what has been updated.

If you plan to renovate, get the corporation’s alteration rules from management first. Older buildings often have specific rules for plumbing work, flooring underlay and electrical upgrades, and they can affect your budget and timing.

A fee that covers almost every utility

Condos.ca lists common elements, heat, hydro, water, air conditioning, cable TV, building insurance and parking in the fee. Across active listings, fees run about $741 to $919 a month, or roughly $0.92 per square foot.

That looks high next to the newer towers on Forest Manor, but those buildings meter hydro and usually heating and cooling to the suite. Add those bills and a parking charge to a newer building’s fee before comparing. With hydro included here, the difference narrows considerably, especially on a larger suite.

The other side of an all-inclusive fee is that the corporation carries the energy costs. When utility rates rise, the fee tends to follow. Look at the fee history in the budget and the board minutes to see how steep recent increases have been.

Cable TV in the fee is a smaller item, but check what it actually covers. Bulk cable contracts signed years ago do not always include internet, and most buyers today care more about internet than about a TV package. Ask management what the current contract includes and when it expires.

Henry Farm living

Henry Farm is the pocket around Sheppard Avenue East and Don Mills Road, and Fairview Mall anchors the daily shopping. The transit, school and walkability details for this address are in the panel on this page.

The building’s own grounds are a selling point. An outdoor pool and a tennis court on site are uncommon in newer condominiums, which tend to put their money into indoor amenity spaces instead.

The newer towers on Forest Manor Road have made the street busier, with more residents, more traffic and more construction over the years. They have also brought more services and a fuller neighbourhood around an address that has been here since 1976. Ask which way the suite faces, since some views now look onto newer buildings. Visit at the time of day you would normally be home to get a sense of noise and light.

What 20 Forest Manor Road costs per square foot

Condos.ca puts the building average at about $421 per square foot, against about $723 at Dream Tower at Emerald City up the street. Two suites are for sale at the time of writing, asking between $358,000 and $379,800.

At those prices, you are buying a suite of 800 square feet or more at well under 60 per cent of the newer tower’s price per square foot. The discount reflects the building’s age, original suites and the market’s general caution about older buildings with all-inclusive fees.

Recent sales matter more than asking prices in a building with only two listings. My building sold report gives you the sold history so your offer is anchored to what has actually closed. Within the building, expect a wide spread between renovated suites and original ones, and between high floors and low ones. Compare the suite you want with sales of similar condition, not with the building average.

Building specifications

Amenities at 20 Forest Manor Road Condos

An outdoor pool and tennis court make this building feel more like a 1970s apartment community than a modern condo, and in summer that is a genuine advantage. The trade-off is that there is no concierge listed, so ask how parcels and visitors are handled. The games room, gym and sauna round out a package that works well for families with older children, and an outdoor pool is far cheaper for a corporation to run than an indoor one.

Jatin’s honest take on 20 Forest Manor Road Condos

20 Forest Manor Road Condos — frequently asked questions

Looking at Willowdale, Yonge & Sheppard, Bayview Village and North York Centre more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.