Welcome to this remarkable investment located in the coveted neighborhood of Waterfront Communities C1. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $16,900,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
1087-1089 Queen Street West "The Great Hall" represents an unparalleled opportunity to acquire a fully leased iconic landmark investment property at the corner of Queen Street and Dovercourt Road in the heart of West Queen West. It was originally constructed for the first ever YMCA in Toronto and designed by the prominent architectural firm Gordon & Helliwell, well known for their many distinctive churches and institutional structures across Southern Ontario. The Property is currently configured for use as a restaurant on the main floor, event venue space in the lower level and main floor, event venue space on the 2nd and 3rd floor, and offices on the third and fourth floor. The total gross floor area (GFA) of the building is 32,598 square feet and the total net leaseable area is 29,115 square feet. The Property is capable of offering exceptional urban retail environments for numerous uses and also has the potential for further value creation through assemblage over time, or moderate urban redevelopment of the existing site. The Vendor currently leases Units 400, 402 and 408 at above-market rents, with the existing lease expiring on December 31, 2027. Upon closing, the Vendor will enter into a new three-year lease, covering both the currently occupied units and the remaining vacant office units, being Units 405, 407, 409 and 410.
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Data-driven valuation for 1087-1089 Queen Street W, Toronto C01, ON M6J 1H3
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About Purchasing a Home in Toronto, ON
For a property listed at $16,900,000 in Toronto, the legal minimum down payment is $3,380,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $408,975 for this transaction. Since the property is located in Toronto, a municipal land transfer tax of $408,975 also applies, bringing the total estimated land transfer taxes to $817,950.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.