Gibson Square South Tower, 5162 Yonge St: Menkes Tower by Gibson Park

Gibson Square South Tower is the building I show people who want North York Centre without paying downtown fees. It is one of two matching 42-storey Menkes towers beside Gibson House and its park, with an underground walk to the subway and a fee that already covers heat, cooling and parking. What you need to work out is whether you are buying the tower or the podium, because they are different products. I’m Jatin Dua, RE/MAX Quantum Realty.

Two towers, one podium, and a museum next door

Gibson Square is a pair of 42-storey towers, each about 137 metres tall, standing on a shared five-storey podium on the northwest corner of Yonge and Park Home. The South Tower at 5162 Yonge is its own condominium corporation, TSCC-2435, with 459 suites. The North Tower next door is a separate corporation.

Rafael + Bigauskas designed both towers, Patton Design Studio did the interiors and o2 Planning and Design did the landscape. UrbanToronto’s retrospective describes cafe and restaurant space in the base and a landscaped forecourt with outdoor seating. It is a well-mannered building rather than a striking one, and in North York Centre that is not a criticism.

The neighbour that matters is Gibson House Museum and its park, directly beside the site. That green space is protected, so podium and lower suites facing it have a view that is unlikely to be built out, which is rare on this stretch of Yonge.

The underground walk and what it means in January

Skyrise’s project record describes direct underground access to North York Centre subway station and to Empress Walk. In practice that means you can get to the train and the shops in Empress Walk without putting on a coat. The transit panel on this page has the timing; the point here is that the connection is part of the building, not a block away.

This is the main reason I steer commuters here over buildings further up Yonge. You get the subway link that new towers in the area charge a premium for, in a building that is now about a decade old and has resale history you can actually study.

North York Centre itself keeps changing. The UrbanToronto piece noted Beacon Condos, a 35-storey tower, nearing completion to the north, and more towers have followed along Yonge. Expect cranes on this corridor for years, and check the City’s development applications map for anything proposed near the suite you are considering, especially if its view is the reason you like it.

Layouts: tower suites and podium suites

Menkes sold one-bedroom, one-plus-den, two-bedroom and two-plus-den plans. Skyrise lists the original range as 514 to 1,288 sq ft, while condos.ca shows suites up to about 2,088 sq ft, so a few larger or combined suites exist. Most of what trades sits between roughly 500 and 900 sq ft.

The podium suites were released with 9-foot ceilings and park views, according to the Skyrise listing of the original marketing. If ceiling height and the park outlook matter to you, ask for a podium floor plan specifically and confirm the ceiling height in the listing; do not assume the tower floors are the same.

Four suites were listed for lease when I checked, and a 459-suite tower beside a subway station will always see regular move-ins and move-outs. That keeps the elevators and loading area busy, so ask the manager how move bookings work and how often the move elevator is tied up on weekends. The owner and renter mix is in the data panel on this page.

Original finishes were the standard Menkes package of that era: laminate plank floors, granite counters, mosaic backsplash and six appliances. Ten years on, many suites have been updated and many have not, so price the renovation into any original-condition suite.

A fee that already includes the big utilities

Condos.ca lists common elements, heat, air conditioning, building insurance, parking and water in the fee. Across the five current listings the fee works out to about $0.71 per square foot, with monthly fees ranging from $413 to $690. For a 2015 tower with heating, cooling and parking bundled, that is reasonable.

Compare that with newer North York Centre towers where heat and cooling run through your own meter and parking is billed separately. Add those costs back before you decide this building is the expensive one. Hydro for lights and appliances is not listed as included, so budget for it.

What Gibson Square South costs

Condos.ca puts the building average at about $943 per square foot. That is a premium over the older stock along Yonge, and the subway connection, the age of the building and the fee package are what you are paying for. Smaller suites carry the highest price per foot, so judge a one-bedroom against other one-bedrooms.

When I checked there were five suites for sale and four for lease. Asking prices ran from $575,000 to $999,500. With heat, cooling and parking already in roughly $0.71 per square foot of fees, the carrying cost is easier to predict than at most newer buildings nearby.

For what suites have actually sold for, use the market data on this page or ask me for the building sold report. Asking prices tell you what sellers hope for, not what buyers have paid.

Building specifications

Amenities at Gibson Square South Tower

The amenities sit in the Gibson Club, a 20,000 sq ft floor on the second level with an indoor pool and sun terrace, gym, two party rooms with kitchens, a theatre, games and card rooms, a boardroom and four guest suites. Because the two towers share a podium, ask how the club is shared and how its costs are split between the corporations.

Jatin’s honest take on Gibson Square South Tower

Gibson Square South Tower — 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.