Pre-construction penthouses in Toronto are gaining traction in the pre-construction market as pent-up demand hits an all-time high with buyers waiting to pull the trigger.
And although penthouses aren’t typically the first thing you think of when you’re buying pre-construction, they are definitely worth considering, especially if you’re looking to move into the suite.
The ability to customize your home when buying pre-construction is one of the key features of buying a penthouse early in the selling process. And with so many developers trying to get your attention, penthouses typically have features that many other suites do not.
Here are our top picks for the best pre-construction penthouses in Toronto right now.
Pre-Construction Penthouses at XO Condos – Penthouse X801
Penthouse Details:
2-Bedroom + Den
2-Bathroom
East-Facing Terrace – 201 Square Feet
801 Square Feet
Price: $1,024,900
Occupancy – 2023
VIP Broker Incentives Available for TRB Clients
Development charges & levies capped at $15,000
$20,000.00 cash-back
Free Parking ($80k value)
Free Locker ($6,500 value)
Extended Deposit Structure
$5,000 on signing
Balance of 2.5% in 30 days
2.5% in 60 days
5% in 370 days
1% on Occupancy
About XO Condos
XO Condos is a new condo development by Lifetime Developments currently under construction at 1182 King Street West. XO Condos will have a total of 701 units in 14 & 19-storey towers in Toronto’s Liberty Village neighbourhood.
This first phase of this project is nearly sold out, but this penthouse is one of the few remaining suites available.
Outdoor space is something that many penthouse buyers are looking for, and this suite gives you plenty of room for outdoor dining, lounging and entertaining.
This penthouse is perfect for those looking to live in the Liberty Village neighbourhood and get an exceptional return on a pre-construction investment.
An investor may want to give this a second look as well – as we saw at Liberty Market Tower when it launched earlier this year, and even at Brightwater Condos in Port Credit – larger units are becoming the must-have in the sales process.
Rentability for these large suites is at an all-time high, among those looking to live the condo-lifestyle in large spaces.
Pre-Construction Penthouses at Panda Condos – Penthouse P1178
Penthouse Details
3-Bedrooms
3-Bathrooms
1178 Square Feet
140 Square Foot Terrace
Price: $1,859,900
VIP Broker Incentives Available for TRB Clients
Development charges & levies capped at $0
$20,000 cash back
Free Parking ($80k value)
Free Locker ($6,500.00 value)
Deposit Structure
$5,000 on signing
Balance of 5% in 30 days
1% on Occupancy
Occupancy: Mid-2022
About Panda Condos
Panda Condos will have 572 modern and spacious suites varying from Studio to 3 Bedrooms. With a 100/100 walk score, a 100/100 transit score, the Eaton Centre right around the corner and endless shops and restaurants nearby, this location is hard to beat.
This penthouse is huge – that’s the obvious key feature of this property. Developers aren’t really making suites this large any longer, and since this project has been in development for some time now, it’s one of the few in the city left with this square footage.
There is also outdoor space which is pretty rare in this pocket of the city. The split layout gives privacy for the master bedroom, and the open concept living space is perfect for entertaining family and friends.
Investors should also have their eye on this one as the close proximity to the University makes this a very rentable property for students.
This is definitely a long-term hold for both end-users and investors, but the value is there – especially with a 6% deposit. It will be occupying soon, but there’s still time to jump on this massive penthouse in downtown Toronto.
Pre-Construction Penthouses at Whitehaus Condos – Penthouse W667
Penthouse Details
2-Bedroom + Den
2-Bathrooms
667 square feet
Price: $869,900
Occupancy: Early 2021
VIP Broker Incentives Available for TRB Clients
Development charges & levies capped at $0
$20,000 cash back
Free Locker ($7,500 value)
Deposit Structure
$5,000 on Signing
Balance of 5% in 30 days
2% on Occupancy
About Whitehaus Condos
Whitehaus Condos is a new development by Knightstone Capital Management Inc & Lifetime Developments currently under construction, located at 2360 Yonge Street.
Whitehaus Condos is designed by Diamond + Schmitt Architects Inc. and will feature interior design by Cecconi Simone. The development is scheduled to be completed in early 2021 and will be 29 storeys tall and has a total of 358 suites ranging from 432 sq.ft to 1481 sq.ft.
Living at Yonge & Eglinton is still as hot as it has ever been – especially among young professionals looking to live that mid-town city life, close to everything you could possibly need.
Whitehaus condos was incredibly popular when it first launched and is nearing sell-out status. This smaller 2-bedroom condo with a balcony is perfectly laid out with the split floor plan and open concept living.
The deposit structure and $0 in development charges and levies make this a hot suite – parking isn’t included because with this location, who really needs a car anyway?
Although great for an end user, this penthouse would be a perfect addition to a seasoned investors’ portfolio that’s missing a suite of this calibre. The demand for a rental suite like this, on the penthouse level will get any investor a premium price upon occupancy.
If you’re interested in learning more about any of these pre-construction penthouses in Toronto, simply fill out our form so we can be in touch right away.
Thinking about penthouses in other developments or even resale opportunities? There are plenty that are about to launch or be listed so get in touch with the TRB Team today.
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