We looked at sales at Parade 2 (21 Iceboat Terrace), part of Parade condos, a two-tower project, joined by a glass and steel bridge at the 28th and 29th floors. Parade 2, registered in 2013, consists of 920 units. The construction of a new school across the street and easy walking distance to King & Bay, has only increased the popularity of the CityPlace neighbourhood.The first unit we tracked was a one-bedroom without locker or parking. It does have a small balcony and is located on a high floor with city views. It sold in early 2017 for $399,000 and 15 months later for $490,000. The increase of 22% occurred during the fastest rate of appreciation for condos in Toronto. At 550 sf, that translates into a price of $890/sf.
While CityPlace is known for smaller condos, we did find sales of a larger unit. This unit, on a high floor, has city and lake views. It consists of two bedrooms, a den, and 2 ½ bathrooms. It also has three parking spaces. It sold for $1,100,000 in March of 2017 and again in July of 2018 for $1,239,000. That’s a 13% increase. The unit is over 1400 sf which produces a price of $865/sf. When you adjust for the extra parking spots, the price psf is even lower.