New Condos Yonge and Eglinton
Search our list of new condos for sale in the Yonge and Eglinton Area. We update our 2020 database of new condos at Yonge and Eglinton daily.
Investing in New Condos Yonge and Eglinton
If you are looking to purchase a new condo at Yonge and Eglinton, you are looking at the heart of Midtown Toronto. There is a great city vibe at Yonge and Eglinton, with everything you can think of available in this fantastic location from world-class restaurants to some of the best shopping the city has to offer. There are currently 14 condos within a 4-5 block radius of Yonge and Eglinton. The primary demographic of the area are young professionals looking to start their careers and lives.
Midtown has long been a favourite with Toronto Condo developers and the stats show that while the price per square foot is lower than that of Downtown, the steady increase in price over the last 10 years has proven a good investment. There are 13 neighbourhoods in Midtown, roughly 120 condos and a lot of new developments planned for the coming years. This area is home to some of our favourite Toronto Condos for sale including the Quantum Towers, E2 Condos, and 1 Eglinton East.
Investing by The Numbers
• New Condos in the Midtown area = 14% increase in value year over year.
• New Condos at Yonge and Eglinton = 26% increase in value year over year.
• Average price per square foot in Midtown = $895/Sq.ft
• Average price per square foot at Yonge and Eglinton = $919/Sq.ft
• Average price per square foot for a new condo in Toronto = $755/Sq.ft
• Average rent in Midtown = $2507/month
• Average rent at Yonge and Eglinton = $2393/month
Yonge and Eglinton is located in what is called Midtown, the true heart of Toronto, situated between Downtown and North York. The area is known for being a slightly slower pace, but a growing hustle and bustle is starting to creep in, especially up towards Yonge and Eglinton where there are a lot of new condo developments happening.
If you’re looking for a slower pace, lots of green space, some of the top-rated schools, a great public transit hub, and close proximity to all other areas of Toronto, look no further than Midtown – Yonge and Eglinton.
When investing in or purchasing a condo of your own, it’s important to know that the area has updated infrastructure with easy access to transportation. Without a car, you can get around rather easily at Yonge and Eglinton.
The closest transit stop is a bus stop right at the corner of Yonge Street and Eglinton Avenue and it’s only steps away. It also has route 320 Yonge Night Bus, and route 97 Yonge nearby.
New Condos at Yonge and Eglinton have the full benefits of mobility due to the proximity to the Eglinton Station Subway stop with access to both the North and South tracks. The station is located just South of Yonge and Eglinton on the South East corner- connecting you to the TTC and the rest of the city in a flash.
Residents also have decent access to Don Valley Parkway, which is within a few minutes drive using Pottery Rd ramps. However, due to the Crosstown LRT expansion, travel across Eglinton Avenue can take longer than usual during peak traffic hours.
Crosstown LRT – Coming soon!
The Crosstown LRT is currently under construction, however, it will bring light rail transit to the neighbourhood in the near future.
New Condos at Yonge and Eglinton are highly sought-after by young professionals seeking a commercial core that rivals that of downtown without the dense population. Yonge and Eglinton attracts new business and residents due to its many shops, restaurants, and bars, plus entertainment venues and accessible public transit options. If you want the taste of downtown in a more laid-back atmosphere, mellow, tree-lined residential side streets and parks are also nearby.
From the posh neighbourhoods such as Rosedale and Summer Hill, with great boutique shopping to the fun, young vibe at Yonge and Davisville, this area of the city really does have something for everyone. Spend the morning at the Wychwood Barns Farmer’s Market, the afternoon wandering around the beautifully haunting Mt Pleasant Cemetery and then head to Cineplex Odeon to catch the latest show.
Looking for your next favourite place to eat? At Yonge and Eglinton there is a lot close by, like Sushi Shop – Riocan Yonge and Eglinton Centre, Jimmy the Greek and Rolltation to name a few. Grab your morning coffee at Tim Hortons and your groceries after work from Metro, which is steps away and you’ll find Davisville Pharmasave a 9-minute walk as well.
Cineplex Yonge and Eglinton and Famous Players Canada Square Cinemas are both in close proximity and can be a great way to spend some downtime. Love being outside? Look no further than Eglinton Park, St. Clements – Yonge Parkette or Oriole Park / Neshama Playground.
New Condos at Yonge and Eglinton – Frequently Asked Questions
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.