Fifth on the Park stands as a demonstration to modern urban living in Toronto's vibrant landscape. This 24-story condominium, completed in 2018, offers residents a blend of luxury and convenience. With its array of well-appointed units and extensive amenities, the building caters to diverse lifestyles. However, beyond its impressive features, Fifth on the Park's true value lies in its strategic location and the community it fosters. As we explore this property further, we'll uncover how it balances city living with comfort, and why it has become a sought-after address for those seeking a dynamic Toronto experience.
Key Facts
Where can you find a modern high-rise condominium in North York, Toronto? Search no further than Fifth on the Park, located at 50 Forest Manor Rd. This impressive structure, completed in 2018, stands 24 stories tall and houses 262 units, offering residents a contemporary living experience in the heart of North York.
The building caters to a variety of preferences with suite sizes ranging from 491 to 1329 square feet. Residents can expect to pay an average monthly maintenance fee of $570, which covers various utilities and contributes to the upkeep of the building's numerous amenities. These include a well-equipped gym, an indoor pool, concierge services, and a robust security system, ensuring a comfortable and secure living environment.
Fifth on the Park has established itself as a competitive player in the North York real estate market. With an average sale price of $655,000 and a price per square foot of $1,042, it ranks 23rd out of 324 condos in the area. This positioning reflects its desirability and value proposition to potential buyers and investors.
The rental market at Fifth on the Park is equally robust, with rental prices ranging from $2,600 to $3,200. The average rent price per square foot stands at $4.38, indicating a strong demand for units in this building. This demand is further evidenced by the quick turnover of listings, which typically spend only 13 to 16 days on the market before being leased.
Building Overview
Standing tall in the heart of North York, Toronto, Fifth on the Park is a modern high-rise condominium that exemplifies contemporary urban living. Completed in 2018 by Elad Canada, this impressive structure rises 24 storeys into the skyline, offering 262 meticulously designed units to its residents.
The building's architectural prowess is evident in its sleek exterior and thoughtfully planned interior spaces. Suites range from compact 491 square foot layouts to spacious 1329 square foot residences, catering to a diverse array of lifestyle needs and preferences. This variety guarantees that Fifth on the Park accommodates single professionals, couples, and families alike.
Residents benefit from a thorough amenities package that enhances their daily lives. The building features a state-of-the-art gym, perfect for maintaining fitness routines, and an indoor pool for year-round aquatic activities. A concierge service adds an extra layer of convenience and security for inhabitants.
The average monthly maintenance fee of $570 covers essential utilities and the upkeep of these shared facilities, providing value and peace of mind to homeowners. This fee structure contributes to the overall appeal of Fifth on the Park as a well-managed and maintained residential complex.
Located at 50 Forest Manor Rd, the condominium's strategic position offers easy access to crucial urban amenities. Residents enjoy proximity to grocery stores for daily necessities, parks for outdoor recreation, and efficient public transit connections, facilitating seamless navigation throughout the city. This combination of on-site features and neighborhood assets solidifies Fifth on the Park's status as a premier residential destination in North York.
Building Amenities
The amenities at Fifth on the Park elevate the residential experience beyond mere accommodation. The building's modern lobby sets the tone with its elegant geometric patterns and comfortable lounge seating, providing a welcoming atmosphere for residents and their guests. This attention to detail extends throughout the common areas, creating a cohesive and luxurious living environment.
For those seeking relaxation and social interaction, the WiFi Lounge offers a sophisticated space centered around a double-sided fireplace. This area serves as an ideal setting for unwinding after a long day or hosting casual gatherings with neighbors and friends.
Fitness enthusiasts will appreciate the extensive wellness facilities available at Fifth on the Park. The indoor pool provides year-round swimming opportunities, while the dedicated yoga room allows for mindful exercise practices. Saunas offer a perfect way to decompress and promote overall well-being, completing the holistic approach to resident health.
Entertainment options abound within the building, catering to various interests and age groups. The karaoke/theatre room presents opportunities for movie nights and musical performances, while the arcade offers a nostalgic gaming experience for residents of all ages.
Outdoor enjoyment is also a priority at Fifth on the Park, with a thoughtfully designed terrace featuring barbecue stations and dining areas. This space encourages residents to take advantage of pleasant weather, host gatherings, and enjoy meals al fresco.
These carefully curated amenities work in harmony to create a well-rounded living experience, fostering a sense of community and providing residents with opportunities for relaxation, fitness, entertainment, and social interaction all within the confines of their home building.
Maintenance Fees
Financial considerations play a significant role in the overall cost of living at Fifth on the Park. One of the key factors to take into account is the maintenance fees, which are set at approximately $570 per month for the average unit. This fee is calculated at $0.83 per square foot, slightly higher than the neighborhood average of $0.78 per square foot.
The maintenance fees at Fifth on the Park cover a thorough range of utilities and services, guaranteeing residents have access to high-quality amenities and a well-maintained living environment. These fees contribute to the upkeep of various facilities, including the concierge service, gym access, and security systems. Additionally, they support the maintenance of luxury features such as the indoor pool, guest suites, and entertainment options available to all residents.
With 262 units in the building, the collective maintenance fees form a substantial fund that enables the management to maintain the high standards of living that Fifth on the Park is known for. This shared financial responsibility guarantees that all residents can enjoy the building's amenities and services without compromise.
While the maintenance fees at Fifth on the Park may be slightly higher than the neighborhood average, they reflect the building's commitment to providing a premium living experience. Prospective residents should carefully weigh these fees as part of their overall budget when evaluating the cost of living at Fifth on the Park, balancing them against the extensive amenities and services provided.
Explore Neighborhood
Beyond the confines of Fifth on the Park, the surrounding neighborhood offers a vibrant and diverse community that complements the building's luxurious amenities. Residents have easy access to a variety of grocery stores, including FreshCo, Foodland, and Mercator Euro Mini Mart, all within walking distance. This convenience guarantees that daily errands are manageable without the need for extensive travel.
The neighborhood also boasts numerous dining options, with various restaurants available within a short walking distance from the property. This culinary diversity caters to a wide range of tastes and preferences, making it an ideal location for those who appreciate the variety of dining experiences.
Public transit is easily accessible, with a bus stop located at Don Mills Rd just a 2-minute walk away and Don Mills Station only a minute away. This proximity to transportation hubs facilitates seamless connectivity to other parts of the city.
For outdoor enthusiasts, nearby parks such as Parkway Forest Park and Forest Manor Park provide recreational activities within a 12-minute walk. These green spaces offer a tranquil escape from the hustle and bustle of urban life, enhancing the quality of living for residents.
With a WalkScore of 80, the area features moderate walkability, making it convenient for daily errands and access to local amenities. This blend of convenience, diversity, and accessibility makes the neighborhood around Fifth on the Park an appealing choice for residents seeking a balanced urban lifestyle.
Diverse Cultural Makeup
The Fifth on the Park neighborhood features a diverse cultural makeup, with a mix of various ethnic backgrounds contributing to the community's rich tapestry. The average individual income in the area is $56,893, reflecting a variety of economic backgrounds among residents. The community's demographic profile indicates a mix of family structures and cultural perspectives, with approximately 200-400 households within the dissemination area.
Population
The neighborhood surrounding Fifth on the Park at 1485 5th Ave in Manhattan, NY, reflects a diverse cultural makeup, with a population of approximately 8 million people in New York City. However, focusing on the specific area around 50 Forest Manor Rd in Toronto, ON, reveals a different demographic profile. The population surrounding Fifth on the Park at 50 Forest Manor Rd is approximately 9,098 residents, indicating a vibrant and relatively smaller community compared to major city centers.
The average individual income in the neighborhood is $56,893, suggesting a diverse economic background among residents. This diversity is further reflected in the demographic composition, which includes 200-400 households, indicating a mix of family sizes and living arrangements. The real estate market in this area is competitive, with a moderate chance of receiving multiple offers on properties. Additionally, the average unit ownership duration is about 5.6 years, suggesting a blend of long-term residents and newcomers to the community. This blend contributes to the rich cultural tapestry of the area surrounding Fifth on the Park.
Tenancy and Property Type
Fifth on the Park at 1485 Fifth Avenue in East Harlem, New York, is situated in a neighborhood with a diverse cultural makeup. The area is known for its rich cultural heritage and vibrant community. The condominium boasts a total of 194 units, offering a range of living spaces to suit various lifestyles.
The property type of Fifth on the Park is a mixed residential and commercial building, classified as a condominium. It features a 24-hour attended lobby, valet parking, a children's playroom, a fitness center, and a heated indoor pool. The building also includes a furnished rooftop deck with grilling stations and city skyline views.
The tenancy at Fifth on the Park includes both rental and condominium units, catering to a diverse range of residents. The average household size in the vicinity is not explicitly stated, but the building offers a variety of floor plans to suit different lifestyles.
Average Income
At the heart of East Harlem, a neighborhood with a diverse cultural makeup, the average individual income around Fifth on the Park is approximately $56,893. This figure reflects a diverse economic landscape, with residents from various income brackets contributing to the neighborhood's dynamic atmosphere.
The population in this neighborhood is around 9,098 residents, contributing to a varied cultural makeup. This diversity is likely influenced by the proximity to various amenities, including shopping, dining, and recreational facilities. The average household size in the dissemination area ranges between 200 to 400 households, reflecting a mix of family types and living arrangements. Additionally, the average unit ownership duration in the neighborhood is 5.6 years, suggesting stability and a commitment to the community among residents. This blend of economic, cultural, and demographic diversity makes Fifth on the Park an enriching and vibrant place to live.
Nearby Schools
Residents of Fifth on the Park can take advantage of the nearby educational institutions, which are easily accessible by car or public transportation. The community is served by a diverse range of schools catering to various age groups and needs. Forest Manor Public School, located less than 3 minutes away by car, provides education for elementary students in the area. This proximity guarantees that families with young children have access to quality education and resources.
Furthermore, TCT High School, also under 3 minutes by car, offers secondary education options nearby. Both schools are part of well-established districts, enhancing the family-friendly appeal of the Fifth on the Park community. The availability of these educational institutions adds to the neighborhood's attractiveness for families looking for a balanced and supportive environment.
The schools in the vicinity are known for their commitment to providing a thorough education, focusing on both academic and extracurricular activities. This guarantees that students have a well-rounded educational experience, preparing them for future challenges. The convenience of having these educational institutions nearby makes Fifth on the Park an ideal location for families seeking a community that supports their children's educational needs.
Eco-Friendly Design Features Implemented
In addition to its proximity to quality educational institutions, the Fifth on the Park community also boasts an impressive array of eco-friendly design features. These features are designed to reduce the building's environmental impact while enhancing the quality of life for its residents.
One of the key eco-friendly design features is the incorporation of energy-efficient systems. This includes the use of LED lighting and high-efficiency HVAC units, which greatly reduce overall energy consumption. The building design also emphasizes natural light, with large windows and open layouts that minimize the need for artificial lighting during the day. This not only saves energy but also promotes a healthier indoor environment.
Sustainable materials are utilized in construction and interior finishes, contributing to a reduced carbon footprint and promoting healthier indoor air quality. The development also incorporates rainwater harvesting systems to collect and reuse water for irrigation and other non-potable applications, thereby promoting water conservation.
Furthermore, the development encourages sustainable transportation options by providing access to public transit and electric vehicle charging stations for residents. This thorough approach to eco-friendly design guarantees that Fifth on the Park not only provides a comfortable living space but also contributes positively to the environment.
