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    5740 Yonge Street

    The Palm Residences
    3for Sale
    5for Rent

    Building Details

    Property Type:
    Condo
    Number of Storeys:
    23
    Number of Units:
    214
    Condo Completion:
    2013
    Condo Demand:
    Medium
    Unit Size Range:
    499 - 1,710 SQFT
    Unit Availability:
    Low
    Property Management:

    Listing History for The Palm Residences

    Receive listing updates for Newtonbrook

    Amenities

    Rec Room
    Visitor Parking
    Sauna
    Gym Room
    Party Room
    Rooftop Deck

    Maintenance Fees

    Included
    None
    Excluded
    Hydro
    Heat
    Air Conditioning
    Water

    About 5740 Yonge StreetThe Palm Residences

    5740 Yonge Street is a great choice for those seeking a Newtonbrook condo for sale. This condo is 23 storeys tall and is home to 214 units. The complex was completed in 2013, and features Toronto condo that range in size from 499 square feet to 1710 square feet.

    This condo has a Walk Score of 85 and an average demand ranking, based on Strata.ca’s analytics. Maintenance fees at 5740 Yonge Street are $0.86 per-square-foot, which is notably higher than the city average of about $0.67.

    The Suites

    The average cost per-square-foot for a unit at 5740 Yonge Street is $877 based on the past 12 months of sales, making this one of the most expensive buildings in the area. These suites have a medium probability of receiving multiple offers.

    Units at The Palm Residences spend 34 days on the market on average and usually sell for 1.59% above the listing price. In the last 12 months, 30 units have rented, and 3 have sold.

    The Neighbourhood

    Living here means you’re just a 4-minute walk from Jung Soo Nae Restaurant, Mr. Souvlaki and Fit For Life, making it easy to dazzle your taste buds without much effort. You’ll only have to walk 6 minutes to pick-up a coffee before heading out for your day at Timothy's World Coffee, Tim Hortons and Starbucks.

    There are a number of grocery stores within a short drive, including Food Basics, Arzon Food Market and Khorak Supermarket.

    Residents here can stop by RBC Royal Bank and First Swiss Financial Group on their way home from work, so they can take care of their financial needs.

    Whether you're looking to play, exercise or gather with friends — nearby parks like Hendon Park and Finch Parkette are the perfect spot for all kinds of activities.

    Those who love to shop will appreciate all the options nearby with Yonge Connaught Plaza, Whohou Marketplace and Collaboht Branding just 2 minutes from here.

    If you’re tired of the usual neighbourhood attractions, then perhaps having Irena Art Gallery, Pars Art Gallery and Centre Rug Gallery less than a 2-minute drive away will give you a lift. Cineplex Cinemas Empress Walk is just a short drive away for movie nights.

    The Palm Residences is a short drive away from McKee Public School, Churchill Public School and Pleasant Public School, giving you plenty of choice for your child’s education. Newtonbrook is an excellent area for parents and teens alike where your teenager will be able to explore close to home after attending Jonas High School, Horizons Secondary School and Unionville Academy. And you’ll have peace of mind they’re nearby!

    Transportation

    Transit users aren’t far from a light transit stop at Yonge St At Bishop Ave North Side. Finch Station station is only 0 minutes walking distance from the building.

    In the event that you can’t land a unit in this building, there are some similar condos within walking distance at 5793 Yonge Street, 5765 Yonge Street and 5785 Yonge Street.

    Reviews for The Palm Residences

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    3

    Listings For Sale

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    5

    Listings For Rent

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    Explore Newtonbrook

    8/10
    Walkability
    One small step for you. One giant leap towards never needing a gym membership.
    10/10
    Transit
    Meet the heartbeat of the city — transit so smooth, you’ll never miss a beat.
    5/10
    Bikeability
    You'll have a love-hate relationship with your gears. Mostly hate.

    Similar condos

    Demographics

    Based on the dissemination area as defined by Statistics Canada. A dissemination area contains, on average, approximately 200 – 400 households.

    Population
    16,570
    Average Individual Income
    $67,675
    Average Household Size
    3 persons
    Average Age
    42
    Average Household Income
    $115,798
    Dominant Housing Type
    Detached
    Population By Age
    0 - 14
    12%
    15 - 19
    1%
    20 - 34
    20%
    35 - 49
    17%
    50 - 64
    23%
    65+
    23%
    Household Income
    $0 - $30,000
    52%
    $30,000+
    25%
    $60,000+
    11%
    $90,000+
    6%
    $125,000+
    4%
    Housing Types & Tenancy
    Detached
    51%
    Semi Detached
    20%
    Low Rise Apartment
    12%
    High Rise Apartment
    7%
    Duplex
    7%
    Marital Status
    Commute
    Languages (Primary Language)
    English
    54%
    Cantonese
    17%
    Mandarin
    13%
    Other
    12%
    Tamil
    3%
    Tagalog
    1%
    Education
    University and Above
    28%
    High School
    27%
    None
    20%
    College
    16%
    Apprenticeship
    3%
    University Below Batchelor
    3%
    Major Field of Study
    Business Management
    28%
    Architecture & Engineering
    18%
    Health & Related Fields
    11%
    Social Sciences
    10%
    Math & Computer Sciences
    7%
    Physical Sciences
    5%
    Humanities
    4%
    Education
    4%
    Personal, Protective & Transportation Services
    3%
    Visual & Performing Arts
    2%
    Agriculture & Natural Resources
    1%

    Maintenance Fees

    The Palm Residences vs The Newtonbrook Area

    Days on Strata

    Units at The Palm Residences spend an average of
    34
    Days on Strata
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    2%
    above
    the list price.

    Offer Competition

    Condos in this building have an
    AVERAGE
    chance of receiving
    Multiple Offers
    compared to other buildings in Newtonbrook

    Turnover of Units

    On average, each unit is owned for
    5.9
    YEARS before being sold again

    Property Value

    -12%
    Decrease in property value within the past twelve months

    Price Ranking

    2nd
    Highest price per SQFT out of 41 condos in the Newtonbrook area

    Sold Units

    3
    Units were Sold over the past twelve months

    Rented Units

    30
    Units were Rented over the past twelve months

    Best Value Rank

    The Palm Residences offers the
    ?
    best value out of 41 condos in the Newtonbrook neighbourhood

    Appreciation Rank

    The Palm Residences has the
    ?
    highest ROI out of 41 condos in the Newtonbrook neighbourhood

    Rental Yield

    The Palm Residences yields the
    ?
    highest rent prices out of 41 condos in the Newtonbrook neighbourhood

    High Demand

    The Palm Residences is the
    ?
    most popular building out of 41 condos in the Newtonbrook neighbourhood

    Transaction Insights at 5740 Yonge Street

    1 Bed1 Bed + Den2 Bed2 Bed + Den3 Bed
    Price RangeNo Data$550,000$625,000$697,500No Data
    Avg. Cost Per SqftNo Data$838$863$754No Data
    Avg. Wait for Unit Availability130 Days103 Days46 Days135 DaysNo Data
    Ratio of Units in Building19%21%42%18%2%

    Unit Sales vs Inventory

    Total number of units listed and sold in Newtonbrook