The Palm, 5740 Yonge St: A 2013 Tower With Heat, Cooling and Parking In

The Palm is the building I point to when a buyer wants something newer than the 1970s towers north of Finch but does not want to pay new-construction prices. It is a 2013 tower on Yonge with a green-glass skin, an indoor pool and spa, and a fee that already covers heat, cooling and a parking space. The fee looks high on paper, and I will show you why that number needs a second look. I’m Jatin Dua, RE/MAX Quantum Realty.

A 2013 tower among 1970s neighbours

Most of the condo stock between Finch and Steeles was built in the 1970s and 1980s. The Palm is one of the exceptions. UrbanToronto reported the groundbreaking in October 2010, under the Castle Royale name, and the building registered as TSCC-2323 in July 2013. That makes it about 13 years old: past the stage where new-building defects show up, and not yet at the stage where the big original systems come due.

The design is by HCA Architecture, the firm UrbanToronto also credits with Bellair Gardens. The marketing leaned on the green-toned glass and the concrete framing, and from the street it does read differently from the brick slabs further north. At 23 storeys it is a mid-height tower by today’s Yonge Street standards.

With 216 suites, it is a mid-sized building. That is enough owners to share the cost of a pool, a concierge and a spa, but small enough that the elevators and amenity spaces are not as crowded as in the 400- and 500-suite towers going up near Finch now.

Compact plans, and a size range that does not add up

Be careful with the published suite sizes here. Condos.ca lists a range of roughly 1,680 to 1,711 square feet, but that cannot describe the building as a whole: both suites currently for sale are in the 700 to 799 square foot band, and CondoInvestments.ca gives a range of about 595 to 823 square feet. My reading is that the larger figures reflect a handful of big suites, probably on upper floors, rather than the typical plan.

In practice, The Palm is a building of one-bedroom-plus-den, two-bedroom and two-bedroom-plus-den suites, most under 850 square feet. That is efficient by 2010s standards, and it means a two-bedroom here is a tight two-bedroom. Walk the second bedroom with a bed in mind before you decide it works as a real bedroom rather than an office.

Ceiling heights are not published in any source I could verify, so measure or ask the listing agent rather than relying on a feature sheet.

The fee covers more than most buildings of its age

The headline number is the fee: about $1.05 per square foot across the active listings, with monthly fees of roughly $767 to $806. For a 2013 building that looks expensive, and many buyers stop reading there.

Look at what it includes. Condos.ca lists common elements, heat, air conditioning, building insurance, parking and water. Most towers built in the last 15 years put heating and cooling on a suite meter and charge for parking on top. Here you pay hydro for lights and appliances, plus your internet and insurance, and the big seasonal swing is already in the fee. When you compare this with a newer building, add that building’s heating and cooling bills and its parking charge back in before you decide which one is cheaper.

A higher fee per square foot is also partly a function of the small suites. A building of compact units always shows a higher fee per square foot than one with large suites, because the shared costs are spread over fewer square feet.

Yonge north of Finch, and what is changing

UrbanToronto placed the site just north of Finch Station, and the transit details are in the panel on this page. The practical point is that you live on the Yonge corridor itself, with groceries, restaurants and everyday services along Yonge rather than in a mall you have to drive to.

This stretch is going to change. Metrolinx is extending Line 1 about 8 km north from Finch into Vaughan, Markham and Richmond Hill, with five new stations. Early upgrades at Finch Station were completed in December 2023, the tunnelling contract was awarded in July 2025, and Metrolinx says the extension will open after the Ontario Line is finished, without giving a date. Expect years of construction activity and new towers along Yonge before you see the benefit.

Yonge-facing suites will hear the street, and the construction around Finch will add to that for a while. If quiet matters to you, ask which side of the building a suite faces and look at it at rush hour.

What The Palm costs per square foot

Condos.ca puts the building average at about $727 per square foot. The two suites currently for sale are asking between $535,000 and $587,500. On the small floor plans here, that per-square-foot figure is what you should compare, not the total price.

Against a brand-new tower, The Palm gives you a finished, registered building with a track record you can examine, plus heat, cooling and parking inside the fee. Against the 1970s towers nearby, which trade far lower per square foot, you pay a premium for newer construction and smaller, more efficient layouts.

There is not a lot of inventory: two for sale and one for rent at the time of writing. Thin supply makes comparables lumpy, so ask for the building’s recent sales history before you settle on an offer price. My building sold report is the fastest way to get it.

Building specifications

Amenities at The Palm Condominium Residences

An indoor pool with a steam room and rain room is a strong amenity package for a building of only 216 suites, and with concierge on top it covers most of what people otherwise pay a gym or spa membership for. The trade-off is cost: a pool is one of the more expensive things a corporation maintains, which is part of what you are paying for in the fee.

Jatin’s honest take on The Palm Condominium Residences

The Palm Condominium Residences — 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.