$2,395,000 - 533 Richmond Street Unit Ph1, Downtown Toronto
New Construction for Sale in Downtown Toronto
49 days on market- MLS Number
- C12475677
- Property Type
- New Construction
- Status
- active
- Days on Site
- 49
- Bedrooms
- 3
- Bathrooms
- 3
- Square Feet
- 1,600 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Locker
- Owned
- Exposure
- North East
- Balcony
- Terrace
- Listing Brokerage
- EXP REALTY
Where King West Energy Meets Penthouse Luxury.Amazing two-storey, 2+1 bedroom, 2 bath loft is one of only two on the floor - completely reimagined with over $500,000 in custom redesign and detailing.Spanning 1,600 sq ft, the open-concept living area sits beneath dramatic 18 ft double-height glass, blurring the line between indoors and out. Every detail is intentional - exposed concrete columns, custom wood floors, and a 10.5-ft island, anchor a Miele-equipped kitchen designed for enjoyable cooking and entertaining. Integrated Bowers & Wilkins sound flows through the space, while a 9-ft dining table and sculptural lighting set the stage for memorable evenings.The flexible layout can be enjoyed in its current configuration or easily converted back to the original two-bedroom design on the upper level. Either way, this space blends calm and character with rich textures, built in wet bar, private jacuzzi bath, and a spacious balcony that accentuates unobstructed city views - your own quiet retreat above the skyline. The main-floor den includes a built-in desk and Murphy bed, ideal for guests or a private home office. The 806 sq ft lower terrace is the true showstopper: a private outdoor oasis with a premium Swim Spa, Weber Summit BBQ, and custom Sunbrella lounge and dining zones. Gas and water lines make it perfect for year-round use.Every finish has been curated - from automated blinds and integrated lighting to two parking spaces and a triple-size locker. Set in Toronto's King West, you're steps from top restaurants, shopping, gyms, and nightlife.If you love to entertain and live in style, PH1 at 533 Richmond is where it all comes together.
Estimate your monthly payments for this property
Estimated Payment
$10,593.89/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Downtown Toronto / Waterfront
Downtown Toronto / Waterfront is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Downtown Toronto / Waterfront
- •Convenient location in Downtown Toronto / Waterfront
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Downtown Toronto / Waterfront offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
533 Richmond Street Unit Ph1, Downtown Toronto / Waterfront
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 25+ years of GTA real estate experience
Premium Pricing
At $1497/sqft, this property is priced above the Downtown Toronto average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Negotiation Opportunity
At 49 days on site, this property has exceeded the typical selling timeline for Downtown Toronto. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $9,979 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.