Tango 2, 72 Esther Shiner Blvd: Small Suites, Parking in the Fee

Tango 2 is a building of small suites, and that is the first thing to understand about it. Nothing here is listed above 1,000 square feet, the fee covers parking and heat, and it sits inside Concord Adex’s Park Place community a short walk from the Sheppard subway. For a first purchase or a rental investment, it makes a lot of sense; for a growing family, it usually does not. I’m Jatin Dua, RE/MAX Quantum Realty.

The second Tango in a 45-acre community

Concord Park Place is Concord Adex’s master-planned community on former industrial land near Sheppard and Leslie. UrbanToronto described it in 2014 as a 45-acre plan expected to bring about 7,500 new residents to the area, built in phases around a central park.

Tango 2 sits directly north of the original Tango, across Esther Shiner Boulevard, with its podium also fronting Provost Drive. Condos.ca lists the first Tango at 121 McMahon Drive. Both were designed by Page + Steele / IBI Group Architects and share the same dark glass look, so the pair reads as one project from the street.

At 20 storeys, Tango 2 is the shorter of the two. UrbanToronto’s construction coverage described dark window-wall glazing with white horizontal aluminium bands, and a podium of black and grey glass with ledgerock stone at the second level.

Compact suites, by design

Condos.ca puts suites at about 361 to 995 square feet. The bottom of that range is a true studio, and the top is a modest two-bedroom. There are no large suites here, which sets it apart from the earlier Discovery buildings in the same community, where plans were marketed up to about 1,700 square feet.

That shapes who buys. In my experience, the buyers for a suite mix like this are mostly first-time buyers, single professionals, couples without children and investors. The building rarely suits a family that expects to grow, because there is nothing larger to move into without leaving.

The upside of small suites is a lower entry price and a steady tenant market. With only two suites for sale and two for lease when I checked, supply is thin for a building of 257 suites, which tells me owners tend to hold. I could not confirm ceiling heights, so check the floor plan of the suite you are viewing.

What the fee covers

Condos.ca lists common elements, heat, air conditioning, building insurance, parking and water in the fee. Parking and heating in the fee are worth real money each month, and in many buildings finished after 2015 both are billed separately.

Hydro is not on the list, so budget for your own electricity. On the current listings the fee works out to about $0.95 per square foot, which is fair for what it includes and close to the first Tango next door.

One caution: in a building with suites this small, not every suite comes with a parking space. If parking matters to you, confirm that the suite has a parking unit on the status certificate, and ask whether owners without one pay a lower fee.

The studio and one-bedroom question

If you are buying one of the smallest suites, think about resale before you think about price. A studio in the 300s is the cheapest way into a newer building with a concierge and parking in the fee, but the buyer pool for a studio is narrower than for a one-bedroom-plus-den, and it is mostly investors when rates are high.

A layout with a den that can take a desk, or a second bedroom with a window, will usually be easier to sell and to rent. When I compare suites here for a client, I look at the usable floor plan and the balcony before the square footage, because ten extra square feet in a hallway add nothing to how a suite lives.

If the suite will be a rental, check the current lease and rent against similar suites in the community before you firm up, and confirm with the status certificate that there are no restrictions you need to plan around.

Sheppard and Leslie, day to day

The neighbourhood is still filling in. Concord Park Place has added towers and townhomes around a central park, and UrbanToronto’s coverage of the first Tango placed the community near Bessarion station on the Sheppard line. The streets inside the community feel more residential than Sheppard itself, where much of the shopping is still big-box retail.

The ground floor of Tango 2 was planned with boutique retail along Esther Shiner and Provost, which helps with daily errands. Highway 401 is close, which suits commuters who drive, though towers nearest the highway hear it, so check the exposure of any suite. The data panel on this page shows the transit, schools and parks nearby.

Price per square foot in context

Condos.ca puts Tango 2 at about $728 per square foot, almost the same as the first Tango at about $724 and higher than the older Discovery 2 tower in the same community at about $687. Small suites usually carry a higher price per square foot than large ones, so that premium is partly the suite mix rather than the building.

Only two suites were for sale when I checked, asking from $490,000 to $599,900. That is too few to call a market, so I would look at the last year of sales here and in the first Tango before setting a price. The data panel on this page shows the recent sales record.

For investors, the inclusion of parking and heat in the fee helps the numbers, because rents in this community are set against newer buildings where tenants often pay extra for both.

Building specifications

Amenities at Tango 2

UrbanToronto described a gym, games room, party room and guest suite on the ground floor and mezzanine, with a terrace on top of the eighth-floor podium; condos.ca adds a concierge, a meeting room and barbecues. For owners in small suites, the terrace and party room work as extra living space, which matters more here than in a building of large plans.

Jatin’s honest take on Tango 2

Tango 2 — 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.