A new condo at Toronto’s still-under-construction The One skyscraper just hit the market with a jaw-dropping price tag.
For $16,416,626, you can live on the 80th floor of this 85-storey building that, when it’s finished, will be the tallest building in Toronto.
The 1 Bloor Street West property, located in Yorkville, will snag the tallest building title from First Canadian Place, which sits at 72 storeys.
As to be expected, the condo itself screams “luxury.” It has three bedrooms, four bathrooms, and is roughly 4,250–4,499 sq ft, spanning half of the building’s floor.
It’s outfitted with massive wrap-around windows that offer some of the best views of the city, and will surely make for spectacular sunsets.
There are separate kitchen, dining, and living areas, and a laundry room, plus multiple walk-in closets, two fireplaces, and a den.
The kitchen, admittedly, for a condo of this size and price, appears to be relatively modest, but it does feature a large central island, a gas cooktop, and an eat-in area.
The building itself has seemingly endless amenities to offer its residents, from a spa lounge to a gym to valet parking to an outdoor infinity pool that’s heated year-round.
And the price living in this condo building is not just high, but record-setting high.
“This property would be the most expensive publicly traded condo unit to sell in Toronto’s history,” said Zoocasa agent Doug Vukasovic. “There have only been a total of four sales over $10 million in Toronto — publicly listed via MLS — and those were all within walking distance of this condo in Yorkville.”
Living in such a prestigious building also means that there’s a premium per square foot that’s going to come with the price.
“The list price per square foot for this unit is $3,748 which is about a 30-40% premium above one of the priciest addresses in the area: The Four Seasons Private Residences,” Vukasovic said.
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With a price tag as high as this condo has, it’s going to take a very wealthy buyer to scoop up the property.
“This will require a special buyer and will likely take some time to sell based on its price point,” Vukasovic said. “At the same time, there could be a monied buyer waiting in the wings who wants the cachet that comes with the address.”
Whoever buys this property, Vukasovic says, likely won’t be looking at it as an investment property, but rather as a means to get themselves the most comfortable home possible.
“When it comes to luxury at this price, people will pay what it’s worth to them,” he said. “There are virtually no comparable condo sales at this type of price point.”
The One is expected to be finished construction some time in 2022 or 2023, so whoever does buy it will have plenty of time to figure out how they want to decorate all 4,250+ sq ft of it.