Luxury Condos in Toronto
East End Toronto is “growing up”. Literally! It seems that every month I get an email from builders advertising a new East Toronto luxury condo project. In surprising numbers, buyers are purchasing East End Toronto condominium units. According to Market Watch, in September 2010, over 20% of the combined transactions in the Beaches, Riverdale, Leslieville and Danforth Village were condo sales.
While you may think of the stereotypical condo buyer as a first-time buyer of a small downtown unit, and the majority of Luxury Condos are sold the downtown core (90 sales over $ 1 million in 2010), there’s a growing trend of local home owners selling the family home and moving into what might be called luxury condos (sale price over $500,000) in their own neighbourhood. Some are empty-nesters looking to downsize, others are moving due to a change in marital status. Some are buying a second property in retirement so they can enjoy the ‘snowbird’ lifestyle. Then there are busy professionals who travel a lot and need to be able to lock the door and walk away for a week.
Here is a brief rundown of East Toronto's luxury condo buildings.
9 and 35 Boardwalk Condominiums, 9 & 35 Boardwalk Drive
The properties that really started Luxury Condos in the Beach. Prices range from the high 300's to over 1 million. Although the smaller suites are just barely "luxury", they still have the most complete amenity package and the most coveted views of the lake from the exterior suites.
1842 and 1852 Queen Street East
Stylish, spacious 2 storey suites over ground floor retail space. From 1 Bedroom to 2 & den. Prices range from a recent sale of $315K for a one Bedroom suite to over $850,000 asking price for a 2 Bedroom plus Den. Exposed brick walls, extra height ceilings and outdoor balconies/terraces add to the appeal. Underground parking. No amenities. Pets permitted.
21 Swanwick Avenue
Former Church has been converted to condominium suites & townhomes hybrid, not your typical Toronto luxury condo. Original brick walls, stained glass windows, stonework. Modern interiors. 10’ ceilings. Very few suites, outdoor parking, pets restricted. Low maintenance fees. Recent sale $699,900 for a 3 Bedroom multi-level suite.
Kew Beach Living Residences
New construction. Plans call for a 4 storey building of 65 suites ranging from a 1 Bedroom at 595 square feet to 1600 square feet for a 2 Bedroom plus den. Architecture by Worsely Urban partners, interiors by Chapman Design Group. Asking prices are $300,000 to over $1,000,000. Euro style kitchens, floor to ceiling glass windows.
Bellefair Kew Beach. Bellefair Avenue
Former Church & home of Kew Beach Montessori. Builder is Reserve Properties. Interiors by RAW design and II x IV Design, both well experienced building Toronto luxury condos. 26 units built over ground floor retail, from $359,000 1 Bedroom suites to $1,100,000 2 Bedroom plus Den penthouses with superb views. High ceilings, Euro cabinets and appliances, wide plank wood floors. 6 additional 3 storey townhomes from $871,900. Shared courtyard, lobby, party room, fitness centre and dog spa.
One Rainsford. Rainsford Road at Queen St. E.
New construction. With architecture by Richard Ziegler, this condo is sure to set a new standard for East Toronto luxury condos, bringing Yorkville style to the Beaches. 28 suites will range in size from 1000 s.f. to 3300 s.f. and prices are from $500,000 to $2,500,000. 9’ ceilings in principal rooms, Euro style kitchens. Building is 80% sold. Maintenance fees projected to be .28c per square foot.
RIVERDALE AND LESLIEVILLE
High priced condominiums in these downtown neighbourhoods are almost exclusively factory loft conversions, or loft-like buildings with raw elements. There are a few new combination conversion/new build properties coming online in next year or so. Spacious and with few, if any, amenities, they often combine residential/work space for the self employed. The luxury aspect of these suites refers more to the floor space and soaring ceilings than actual finishes, which can vary widely. Many buildings allow for throwing up a wall or two if you wish to divide up the space further.
I- Zone Lofts, 326 Carlaw Avenue & 1173 Dundas St. E.
Wide open spaces and plenty of room for customization. Live/work suites almost completely open concept in the original floor plans. Recent sale $735,000 for a two storey, 2 bedroom plus den. Underground parking, pets restricted. Low maintenance fees compared to average Toronto luxury condos.
Garment Factory Lofts, 233 Carlaw Avenue
A few extra amenities but slightly smaller than other area lofts. More finished, less raw space than the usual conversion project. Live/work zoning. Recent sale was $590,000 for a 2 Bedroom. Pets permitted, underground parking. Gym, Party/Recreation Room
The Glebe, 660 Pape Avenue
Church conversion, 32 multi-level loft suites retain their period charm. Current asking price (Nov. 1/2010) for oversize 1 + 1 Bedroom is $775.000. Pets restricted, above ground parking.
Printer’s Row. 525 Logan Avenue
Elegantly finished 2 and 3 storey units, only 12 in total. Traditional Toronto luxury condo interiors. Recent sale was $632,500 for a 2 Bedroom. Pets permitted, underground parking, reasonable maintenance fees.
Wrigley Lofts. 245 Carlaw Avenue
True industrial loft conversion retains exposed ductwork and pipes, vast open concept space, multi-level units. 14’+ ceiling heights, live/work zoning. Recent sale was $525,000 for a 1 Bedroom suite. Pets restricted, above ground parking. Reasonable maintenance fees.