KING Toronto Penthouses
| Developer | WestBank Corp./Allied Properties | Number of Units | 4 |
| Address | 489-539 King St. W | Occupancy Date | 2020 |
| Area | King West | Maint. Fees | TBA |
| Number of Storeys | 16 | Priced From | TBA |
KING Toronto Penthouses are new condos in Toronto developed by Westbank Corp. and Allied Properties currently in under construction at 489-539 King St. West, Toronto, ON.
About KING Toronto Penthouses
KING Toronto Penthouses are a part of the KING Toronto development located at 489-539 King Street West. There are four units being released called The Treehouse, La Bibliotheque, The Teahouse, and The Greenhouse. Each of the KING Toronto Penthouses was designed by Bjarke Ingels Group. The KING Toronto Penthouses are the last units to be offered at the development because it took several years to design them to perfection.
KING Toronto Penthouses Location
KING Toronto Penthouses is located in one of the most energized neighbourhoods in downtown Toronto, King West. The exclusive penthouses are a part of the KING Toronto Condos development located at 489-539 King Street West, just west of Spadina Ave.
KING Toronto Penthouse is surrounded by parks, recreation, entertainment, and transit options. South of KING Toronto you can enjoy a walk, run or ride through Northern Linear Park or Garrison Common. As well, Graffiti Alley, Rogers Centre, Scotiabank Arena, and TIFF Bell Lightbox are a short walk or Uber away for a fun night out. Everything you’d want and more is at KING Toronto Penthouses.
489 King Street West
Walker’s Paradise
Nearby KING Toronto Penthouses
• TIFF Bell Lightbox
• Scotibank Arena
• CN Tower
• Steam Whistle Brewery
• LCBO
• Wahlburgers Toronto
• Loblaw’s
• St. Andrews and Osgoode Station
KING Toronto Penthouses Amenities
Lobby
• Unique lobby designs for each of the four mountain peaks (North, East, South, West)
• BIG designed custom Italian crafted Fazioli piano within the East Atrium
• Diffuser system dispenses a custom fragrance throughout each of the lobbies
• Designed corridors of KING Toronto Penthouses with light-wood panels at suite-entry
Spa and Pool
• Indoor, heated 20-metre length lap pool
• Intersecting indoor/outdoor pool overlooking King Street W
• Indoor hot-tub
• Mountain inspired pool deck and lounging areas designed by BIG
• Change rooms with lockers, showers and steam room/sauna facilities
• Luxuriously designed spa with a direct connection to the pool deck
• Access to an outdoor furnished rooftop terrace
Fitness Centre
• Fully-equipped fitness centre and yoga studio
• Resilient hardwood flooring, mirrored walls and built in millwork
• Access to an outdoor furnished rooftop terrace
Lounge
• Custom terrazzo tile flooring throughout
• Large chef’s kitchen with professional-grade appliances
• Contemporary lounge and dining furniture
• KING Toronto Penthouse has Billiards tables
• Access to an outdoor furnished rooftop terrace
KING Toronto Penthouses Features
The Treehouse
The Treehouse at KING Toronto Penthouses is a 3 bedroom, 3 bathroom unit accounting for 2384 Sq.ft inside and an additional 597 Sq.ft on the Terrace.
The Greenhouse
The Greenhouse at KING Toronto Penthouses is a 3 bedroom, 3 bathroom unit accounting for 2615 Sq.ft inside and an additional 1360 Sq.ft on the Terrace. This particular KING Toronto Penthouse also has a built-in greenhouse.
The Teahouse
The Teahouse at KING Toronto Penthouse has sun-filled interiors and large outdoor terraces to support lush, thriving greenery and warm hardwoods and stainless steel to complement them. Teahouse is a 3 bedroom, 3 bathroom unit accounting for 2088 Sq.ft inside and an additional 596 Sq.ft on the Terrace.
La Bibliotheque
La Bibliotheque at KING Toronto Penthouses is a 4 bedroom, 4.5 bathroom unit accounting for 3996 Sq.ft inside and an additional 454 Sq.ft on the Terrace. This particular KING Toronto Penthouse also has a library and cellar.
About the Developer
Established in 1992, Westbank is one of North America’s leading developers, with over $25 billion of real estate projects constructed or currently under development. Westbank projects have consistently led their markets because of design innovation – the creation of value through ideas.
Allied is a leading owner, manager and developer of distinctive urban workspace in Canada’s major cities. Allied’s objectives are to provide stable and growing cash distributions to unitholders and to maximize unitholder value through effective management and accretive portfolio growth.
KING Toronto Penthouses 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:
https://truecondos.com/tag/hst-rebates/
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.
