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    438 Richmond Street W

    The Morgan
    0for Sale
    2for Rent

    Building Details

    Property Type:
    Condo
    Number of Storeys:
    15
    Number of Units:
    217
    Condo Completion:
    2002
    Condo Demand:
    Medium
    Unit Size Range:
    353 - 5,331 SQFT
    Unit Availability:
    Medium

    Listing History for The Morgan

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    Amenities

    Concierge
    Security System
    Indoor Parking
    Rooftop Deck
    Gym Room
    Bike Storage

    Maintenance Fees

    Included
    Water
    Excluded
    Hydro
    Heat
    Air Conditioning

    About 438 Richmond Street WThe Morgan

    With its floor count of only 15 storeys, the Morgan Condos may be short, however it is certainly not small. The prominent building at the corner of Richmond and Spadina is hard to miss for a number of important reasons.

    The first is its size: the Morgan Condos — with 217 Queen West condos and plenty of retail space below — take up half of an entire city block. The second striking aspect of the residences at 438 Richmond Street West is its architectural style.

    Built in 2002, the Morgan Condos has an aesthetic that resembles structures dating back to the 1920s. The Art Deco façade was designed by Quadrangle Architects, and has not gone unnoticed by experts in the field: in 2005, the Morgan Condos was honoured with an award of excellence from the Ontario Association of Architects.

    The structure is even said to be inspired by its neighbouring edifices — built about 80 years prior — such as the Balfour and the Fashion Building. The yellow brick found adoring the condo might even trick a passersby into thinking 438 Richmond Street West is part of this historical gang.

    But once one steps foot inside, they'll quickly recognize how contemporary the building really is. Just beyond the grand spiral staircase in the lobby, residents and guests will find all of the amenities one could ask for. Residents have access to a gym, meeting room, party room, cinema, rooftop terrace with barbecues, and a sauna, as well as a concierge to keep everything in order and visitor parking to ensure that residents can share these privileges with friends and family.

    Ground floor retail businesses allow residents to run errands without having to travel too far. Between the Le Gourmand Café and Starbucks just downstairs, residents also have their pick of where to grab a coffee before heading out to work each morning.

    The Suites

    Since the building has been around for a while now, residents have had the chance to customize the units, so the Toronto condos for sale in this building that show up on the market may have varying features — some upgrades include kitchen renovations and even the removal of entire walls for brighter, airier homes.

    The most impressive unit in the building is surely the three-storey penthouse, which takes up part of the 14th and 15th floors, and comprises the entirety of the 16th storey. This extravagant unit even boasts a 2,000 square foot, south-facing terrace, which residents don’t have to share with anyone else in the building. Technically this home was not upgraded, but rather redesigned during the building’s initial construction, with the help of Peter Berton of Ventin Group Architects.

    While this modernist home is the exception at 438 Richmond Street, rather than the rule, the rest of the units in the building don’t have any issues impressing prospective buyers.

    Studios might appeal to single buyers or couples with tighter budgets, with these homes starting at around 400 square feet. Families — or anyone else requiring an abundance of space — will be glad to learn that the units can span up to 4,100 square feet, with larger ones containing two bedrooms each.

    All of the homes at 438 Richmond Street West are bright and airy, thanks to the wealth of glass found along the facades. Upper levels are set back, allowing for plenty of space for oversized terraces, while charming balconies grace the homes below.

    The Neighbourhood

    Nestled between Queen and King Streets West, and steps to Spadina Avenue, residents have plenty of neighbourhoods to explore when they get the chance.

    Weekends can be spent exploring the tiny yet eclectic streets of Kensington Market, dining out on the cheap in Chinatown, sunbathing in Trinity Bellwoods Park, exploring the galleries and boutiques of trendy West Queen West, or even wandering around the waterfront.

    Outdoorsy types can visit Alexandra Park, which features an outdoor swimming pool in the summertime, and a skating rink once the weather takes a turn for the worst. Coronation Park is also within close reach, where residents can partake in a baseball match or run along the Martin Goodman Trail, all the while watching boats set sail on Lake Ontario.

    The Morgan Condos are also located nearby to many entertainment venues, including the TIFF Bell Lightbox and Roy Thompson Hall, and even the Rogers Centre. With the lakeshore so close at hand, residents can also reach the Jack Layton Ferry Terminal in no time, while a trip over to the Ex, Ontario Place, and the Budweiser Stage is equally as effortless.

    Transportation

    With such a central, downtown location, residents living at 438 Richmond West can walk or cycle around the immediate area in order to run errands or make their morning commutes to work.

    Alternatively, those heading out of the neighbourhood can catch a Queen streetcar in order to reach Osgoode Station, or a Spadina streetcar for access to Spadina Station. Residents also benefit from their close proximity to Billy Bishop Toronto City Airport, which can be reached in just over 20 minutes via public transit or by car or taxi.

    Reviews for The Morgan

    S. Nascimento
    October 29 2024
    5 out of 5
    Busy road but great location on Richmond St and Spadina Ave. Walking distance to the fashion district and lots of great restaurants and shops in the area. Older building but quiet inside.
    0

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    Explore Queen West

    10/10
    Walkability
    Congratulations, you're the mayor of Walksville! Everything's at your doorstep.
    10/10
    Transit
    Meet the heartbeat of the city — transit so smooth, you’ll never miss a beat.
    7/10
    Bikeability
    Your bike's the trusty steed in this urban jungle — giddy up!

    Similar condos

    Demographics

    Based on the dissemination area as defined by Statistics Canada. A dissemination area contains, on average, approximately 200 – 400 households.

    Population
    18,483
    Average Individual Income
    $71,628
    Average Household Size
    3 persons
    Average Age
    42
    Average Household Income
    $108,396
    Dominant Housing Type
    High Rise Apartment
    Population By Age
    0 - 14
    14%
    15 - 19
    1%
    20 - 34
    23%
    35 - 49
    20%
    50 - 64
    20%
    65+
    19%
    Household Income
    $0 - $30,000
    45%
    $30,000+
    23%
    $60,000+
    15%
    $90,000+
    10%
    $125,000+
    5%
    Housing Types & Tenancy
    High Rise Apartment
    43%
    Semi Detached
    25%
    Detached
    24%
    Low Rise Apartment
    3%
    Duplex
    2%
    Marital Status
    Commute
    Languages (Primary Language)
    Other
    72%
    Mandarin
    13%
    Cantonese
    9%
    Tagalog
    2%
    Arabic
    1%
    Spanish
    1%
    Urdu
    1%
    Korean
    1%
    Education
    University and Above
    43%
    High School
    21%
    College
    15%
    None
    12%
    University Below Batchelor
    3%
    Apprenticeship
    2%
    Major Field of Study
    Business Management
    25%
    Architecture & Engineering
    17%
    Social Sciences
    12%
    Health & Related Fields
    10%
    Math & Computer Sciences
    8%
    Humanities
    6%
    Physical Sciences
    5%
    Education
    5%
    Visual & Performing Arts
    3%
    Personal, Protective & Transportation Services
    2%

    Maintenance Fees

    The Morgan vs The Queen West Area

    Days on Strata

    Units at The Morgan spend an average of
    23
    Days on Strata
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    2%
    above
    the list price.

    Offer Competition

    Condos in this building have an
    AVERAGE
    chance of receiving
    Multiple Offers
    compared to other buildings in Queen West

    Turnover of Units

    On average, each unit is owned for
    5.9
    YEARS before being sold again

    Property Value

    2%
    Increase in property value within the past twelve months

    Price Ranking

    22nd
    Highest price per SQFT out of 47 condos in the Queen West area

    Sold Units

    8
    Units were Sold over the past twelve months

    Rented Units

    17
    Units were Rented over the past twelve months

    Best Value Rank

    The Morgan offers the
    ?
    best value out of 47 condos in the Queen West neighbourhood

    Appreciation Rank

    The Morgan has the
    ?
    highest ROI out of 47 condos in the Queen West neighbourhood

    Rental Yield

    The Morgan yields the
    ?
    highest rent prices out of 47 condos in the Queen West neighbourhood

    High Demand

    The Morgan is the
    ?
    most popular building out of 47 condos in the Queen West neighbourhood

    Transaction Insights at 438 Richmond Street W

    Studio1 Bed1 Bed + Den2 Bed2 Bed + Den3 Bed3 Bed + Den
    Price Range$470,000$566,000 - $644,000$662,000$745,000 - $930,000No Data$5,550,000No Data
    Avg. Cost Per Sqft$1,070$926$991$952No Data$1,125No Data
    Avg. Wait for Unit Availability295 Days100 Days139 Days101 Days1488 DaysNo DataNo Data
    Ratio of Units in Building10%33%24%31%3%1%2%

    Unit Sales vs Inventory

    Total number of units listed and sold in Queen West