483 Bay Street Condos
About 483 Bay Street Condos
483 Bay Street Condos is a new pre-construction condo by Northam Realty Advisors seeking to rezone the area atop the South Tower of the 1983-built Bell Trinity Square office. Architects, IBI Group, are the masterminds behind 483 Bay Street Condos and have shown how it fits into its context.
483 Bay Street Condos will require a new 15-storey-high elevator core beside Bell Trinity Square where residents would transfer to and from the new building. 483 Bay Street Condos’ 15th level will feature a full sky lobby and amenities.
Levels 11 and 12 of 483 Bay Street Condos are proposed to be 18 two-storey “Sky Towns”, while levels 13 and 14 would be 17 regular suites. The 15th floor of 483 Bay Street Condos is set to be home to the indoor and outdoor amenities. The remaining of the tower will feature 10 suites per floor except for the 29th and 30th where there is a terrace lined with trees and wood-tone soffits.
483 Bay Street Condos Location
483 Bay Street Condos is located immediately east of Toronto City Hall, but north of Nathan Phillips Square. The tower is at the centre of what makes Downtown Toronto, including being the next door neighbour to the Eaton Centre.
483 Bay Street Condos is one of few new developments with a perfect transit score of 100. Not only is the building connected to the underground PATH walkways that connect to buildings and attractions all across the downtown core, but it is also within a 10 minute walk of Dundas Station, Queen Station, the Dundas Streetcar, and the Queen Streetcar.
483 Bay Street Condos’ excellent Downtown location places it in the centre of entertainment in Toronto. The Eaton Centre is directly across the street, featuring hundreds of luxury and big-box retailers. Just south of the tower is Nathan Phillips Square, which is home to several events throughout the year (most recently known for hosting the Raptors Championship Parade).
Nearby 483 Bay Street Condos
• Hudson’s Bay
• Canadian Tire
• Aroma Espresso Bar
• Ryerson University
• U of T
• Yonge-Dundas Square; and much more
About the Developer
Northam Realty Advisors Limited is a full-service real estate investment firm, focused on real estate private equity investment funds, investment management, and property services for quality Canadian real estate. Founded in 1971 in Canada, Northam today manages office, industrial and specialty retail properties in Canada’s major metropolitan areas.
483 Bay Street Condos FAQs
How do I reserve a unit in this project?
After you review the floor plans and prices, if you know what suites you are interested in, you may reserve a suite online using our online reservation worksheet form at https://truecondos.com/worksheet.
Does filling out the worksheet form mean I’m committing to buy a suite?
No it is not a formal commitment, it is an expression of interest and the first step you must take if you are thinking about getting a unit in this project.
What does it mean that Andrew la Fleur is a “Platinum Agent”?
Platinum agents are the top selling agents who get preferred status with developers and first access to new projects before regular agents and the public.
Andrew la Fleur has been a top-selling pre-construction agent since 2007, and during this time he has achieved platinum status with many of the top builders and sales companies in the Greater Toronto Area.
For more information on about Platinum agents see this article: https://truecondos.com/5-things-to-know-about-buying-a-condo-with-a-platinum-vip-realtor-real-estate-agent/
How does it benefit me as a buyer to work with Andrew la Fleur as my Platinum Agent?
Working with me as your Platinum agent gives you several benefits
- You get the highest level of access in the building
- You pay the lowest possible price for the unit (prices are typically increased significantly after the Platinum sales event)
- The best possible incentives
- I do not represent the builder. I represent you. You benefit from my expertise of being a top selling pre-construction agent and investor myself since 2007.
- Access to my personal network of mortgage brokers, lawyers, property management, HST rebate services, handymen and much more.
- My services to you as a buyer are free
Do I get a cooling off period? What is it for?
Yes, after you sign the contract to purchase a suite you will have a standard 10-day cooling off period. It’s 10 calendar days, not business days from the time you sign.
The 10 days are primarily for 2 things: 1) to have a lawyer review your contract with you if you wish and 2) to get a mortgage pre-approval letter
Do I need to have a lawyer?
You don’t need to have a lawyer at the moment that you sign the agreement, however I always recommend that you have a qualified lawyer review your agreement of purchase and sale after you sign and during your 10-day cooling off period.
Not sure who to talk to? Don’t worry – getting a lawyer is something I can help you with. Contact me for more details.
Do I need to have a mortgage pre-approval to buy?
95% of all builders will require you to provide them with proof of financing capability in order to purchase. This is not required before you sign a contract, but it is usually required within 60 days of signing.
Not sure where to begin? Don’t worry – getting a mortgage pre-approval is something that I can help you with. Contact me for more details.
Do the prices include HST?
If you are purchasing for yourself and plan to move in, then yes, prices include the HST and there is nothing you will have to pay at final closing.
If you are purchasing as an investment rental property, then you will have to pay approximately 7.8% of the purchase price as HST on final closing.
This money is remitted to the CRA and as an investor renting out your property you can apply to the CRA immediately to get this money back. It usually takes about 1 month to get your rebate back.
For more information on the HST, see here:
Contact me for more details.
What are my closing costs on a pre-construction condo?
Closing costs on a pre-construction condo will vary greatly depending on the actual purchase price of the unit you are buying, but it also depends on the builder, the city that you are buying in, and the type of unit that you are buying.
Roughly speaking in Toronto you can expect to pay approximately 3-5% of the purchase price in closing costs when purchasing a brand new condo.
Check out this article for more info on closing costs:
Contact me for more details
Are there any ‘hidden’ costs when buying a pre-construction condo?
No, there are no hidden fees when buying pre-construction condos because all fees must be disclosed in the agreement of purchase and sale. All purchasers have 10 days to review the agreement and have a lawyer advise them on the exact closing cost amounts. If you need a lawyer to help you we can suggest to you to several expert law firms that will review your agreement in detail.
Is it possible to assign my condo? How much is the assignment fee?
Most condo builders do allow you to sell your unit before the building is complete. This projcess is called selling by “assignment”.
There is usually an assignment fee and a legal fee associated with selling. Costs can range from $1000-7000. Contact me for more details.