43 Eglinton Ave E Condos: Low Price per Foot, High Fee, Yonge-Eglinton

43 Eglinton Avenue East is one of the cheapest ways in, per square foot, to the Yonge and Eglinton corner, and it is cheap for a reason you can see on the fee line. You pay less for the suite than you would in the glass towers next door, and more every month, because every utility and your parking are bundled in. Whether that trade works depends on how long you plan to stay. I’m Jatin Dua, RE/MAX Quantum Realty.

A 2002 building among the new towers

This building was registered in 2002, and today it sits among a much newer generation: E Condos at 8 Eglinton East and The Eglinton, the Menkes tower at the southeast corner of Redpath and Eglinton designed by Giannone Petricone Associates, which UrbanToronto reported replaced an eight-storey office building and a nightclub.

That context is the whole story of the price. Buyers who want new finishes, floor-to-ceiling glass and a long amenity list go next door and pay for it. Buyers who want the same corner for less, and more square footage for their money, end up here.

I could not confirm the developer or the architect from any source I trust, and condos.ca leaves the developer blank. Condos.ca lists 16 storeys, but suite numbers on listings run into the 1900s, so the floor count and numbering are worth confirming with management.

Who runs it: sources disagree

Condos.ca lists FirstService Residential as the property manager. Dash Property Management, however, has a page for this building under the same corporation number, TSCC-1443, describing it as a building it manages.

Either could be current; managers change, and websites lag. Before you buy, ask for the name of the current manager in the status certificate, and ask how long they have been in place. A recent change of manager is not a problem in itself, but you want to know why it happened.

It matters more here than in most buildings because of the fee level. When fees run high, the manager’s skill in tendering contracts, controlling utility use and planning repairs shows up directly in your monthly bill. Ask the manager what the corporation has done to bring costs down in the last few years.

Open-sky balconies and a wide range of suites

Dash’s page highlights what it calls rare open-sky balconies, meaning balconies without a slab directly above, and unobstructed views from the penthouse suites. On a busy midtown street, an uncovered balcony gets more sun and feels larger, though it also takes more weather.

Condos.ca lists suites from about 238 to 1,302 square feet. A 238 square foot suite would be extremely small, so treat the bottom of that range with caution and confirm the size of any specific suite against the floor plan. The suites on the market when I checked were mainly one-bedrooms, one-bedroom-plus-dens and two-bedrooms from about 600 to 800 square feet, with one larger two-bedroom-plus-den.

One listing pointed out that older buildings here tend to have more generous layouts than new ones. That is generally true: a 2002 two-bedroom usually has a separate dining area and real closets, which a 2019 two-bedroom of the same footprint often does not.

Uncovered balconies also age faster. Ask whether the corporation has redone balcony membranes, railings or concrete in recent years, or plans to, because that work is costly and can come with restrictions on balcony use while it happens.

Living right at Yonge and Eglinton

This is about as central as midtown gets. The Yonge and Eglinton shops, restaurants and offices are a short walk west, and the subway and the Crosstown line are close; the data panel on this page has the exact transit, school and Walk Score detail.

The trade-off is noise and activity. Eglinton is a busy arterial road and the corner has lived through years of transit and tower construction. A suite facing the back of the building will usually be quieter than one facing Eglinton, so check the exposure before you view.

There were five suites for sale and three for rent when I checked, which suggests a fair number of investor owners. That is normal at a transit hub, but it also means more move-ins and move-outs, so ask the manager how elevator bookings and moves are handled.

Pricing: about $721 a foot, with a fee to match

Condos.ca puts the average at about $721 per square foot. That is well below the newer neighbours: E Condos at about $916, the Menkes tower at 125 Redpath at about $868 and Eglinton Place at 123 Eglinton East, another older building, at about $872. On price per foot, this is one of the cheapest ways to buy at this intersection.

The other side is the fee. When I checked, five suites were for sale, asking between about $480,000 and $785,000, with monthly fees from about $948 to $1,644. That averages roughly $1.47 per square foot, which is high. Part of that is hydro, heat, cooling, water and parking all being included, and part of it is simply an older building with older systems.

Here is how I would think about it. If you add hydro, heat and parking back onto a newer building’s fee, the gap narrows but usually does not close. The lower purchase price helps you more the shorter you hold, while the higher fee costs you more the longer you stay. For the actual recent trades, use the data panel or my building sold report.

Building specifications

Amenities at 43 Eglinton Avenue East Condos

Concierge, a gym, a sauna and a whirlpool are a solid set for a 142-suite building, though they will not compete with the amenity floors next door. The media room is useful if you work from home and want a second space.

Jatin’s honest take on 43 Eglinton Avenue East Condos

43 Eglinton Avenue East Condos — frequently asked questions

Looking at Yonge & Eglinton, Davisville and North Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.