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    55 Ontario Street

    9for Sale
    10for Rent

    Building Details

    Property Type:
    Condo
    Number of Storeys:
    25
    Number of Units:
    276
    Condo Completion:
    2018
    Condo Demand:
    Medium
    Unit Size Range:
    400 - 2,216 SQFT
    Unit Availability:
    Medium
    Property Management:

    Listing History for East55 Condos

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    Amenities

    Rooftop Deck
    Outdoor Pool
    Gym Room
    Concierge
    Indoor Parking
    Visitor Parking

    Maintenance Fees

    Included
    Water
    Excluded
    Hydro
    Heat
    Air Conditioning

    About 55 Ontario StreetEast55 Condos

    Architecturally speaking, the East55 Condos is a pretty remarkable structure. Completed in 2018, the contemporary condo is already a far cry from the standard glass tower. Instead, tucked away at 55 Ontario Street, directly between Richmond Street East, Adelaide, Sherbourne, and Berkeley, is a geometric work of art.

    Blocks containing multiple units each are wrapped in black obsidian brick (bonus points if you know what that means), with various sizes of square and rectangular windowpanes clustered within each. Then, a tower of glass rises above. This portion of the East55 Condos is framed similarly, but this time in white precast to contrast with the dark hues below.

    According to Lamb Development Corporation — creators of Flatiron Lofts and Work Lofts — the developers behind the condos at 55 Ontario Street, the façade is meant to represent Toronto’s energy and eclecticism. Lamb even hints at having been inspired by the vitality of New York City, as they refer to the neighbourhood as “Toronto’s Lower East Side.”

    While Lamb always strives for quality and attractiveness in each of their projects, a minimalist ideology was behind the creation of this particular building. The East55 Condos feature simple designs and clean lines, and even claims to have a motto of its own: “less is more.”

    Prospective buyers interested in the amenities at 55 Ontario Street will be pleased to hear that the building boasts an outdoor swimming pool, a rooftop terrace, a party room, and visitor parking.

    The Suites

    With 276 units spread out over 25 storeys, the East55 Condos contain just enough exposures and sizes to suit the varying needs of Toronto’s diverse buyers. For example, one bedroom suites range from 426 to 636 square feet, with some containing 10.5-foot ceilings, although 9 feet is the standard at 55 Ontario Street.

    Those in need of a little more space to move around will want to take a loot at the one bedroom plus den units, which span anywhere between 495 and 998 square feet.

    Two bedroom condos, on the other hand, are spread out over a minimum of 810 and a maximum of 1,157 square feet, with three bedroom homes reaching from 1,007 to 1,157 square feet. And last but certainly not least, there are the penthouses.

    Even these more luxurious Toronto condos for sale aren’t out of reach for many buyers, with some starting at a humble 921 square feet. Others penthouse units, however, might have larger price tags attached, based on the fact that sizes can reach up to 2,216 square feet

    Finishes vary depending on the unit, however all contain exposed concrete in some form or another: some homes boast exposed concrete walls, ceilings, columns, or a combination of the three.

    For that minimalist look, designers have utilized sliding frosted glass doors to lead in and out of bedrooms. Flooring materials vary amongst units (and even rooms), and include pre-engineered hardwood, porcelain, stone, and ceramic tile. Certain homeowners have the chance to relax in deep soaker tubs, while others can enjoy barbecuing on their balconies or terraces — each of which feature gas hookups.

    The Neighbourhood

    Unfortunately, residents of the East55 Condos may not spend that much time at home, considering the exhilarating neighbourhood that surrounds them. The St. Lawrence Market area is diverse multiple ways: the architecture, the businesses, the locals, and of course the food.

    Previously industrial in nature, St. Lawrence is filled with many well-preserved heritage buildings, many of which date back to the 19th century. However, in more recent years the area has seen substantial growth, and as a result is home to a number of innovative structures as well.

    Residents can do their shopping quickly with a trip to Luciano’s No Frills, or they can take their time and browse the many fruit, cheese, meat, and bakery stands at St. Lawrence Market. The market is also a great place to grab a bite, whether that involves a peameal bacon sandwich, fresh fish and chips, or some homemade pierogies.

    Coffee shops, restaurants, and bars along Queen and King Street East are ready and waiting for those days when cooking simply isn’t in the cards, or for when couples are in need of a date. Other options for entertainment include the Imagine Cinemas at Market Square, the Young Centre for the Performing Arts, or the Historic Distillery District.

    Transportation

    Getting around is simple with an address like 55 Ontario Street. Streetcars running along Queen and King offer transportation for those without cars, with passengers able to hop off and connect to trains on the Yonge-University-Spadina line.

    Drivers can also get around with ease, thanks to one-way streets like Richmond and Adelaide, as well as fast-paced highways such as the Gardiner Expressway and the Don Valley Parkway.

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    Explore Neighbourhood

    9/10
    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
    The bike lane starts to feel like a second home.

    Similar condos

    Demographics

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

    Population
    52,892
    Average Individual Income
    $63,089
    Average Household Size
    3 persons
    Average Age
    43
    Average Household Income
    $104,944
    Dominant Housing Type
    Detached
    Population By Age
    0 - 14
    13%
    15 - 19
    1%
    20 - 34
    22%
    35 - 49
    18%
    50 - 64
    21%
    65+
    21%
    Household Income
    $0 - $30,000
    49%
    $30,000+
    24%
    $60,000+
    13%
    $90,000+
    7%
    $125,000+
    3%
    Housing Types & Tenancy
    Detached
    36%
    High Rise Apartment
    32%
    Semi Detached
    17%
    Low Rise Apartment
    7%
    Duplex
    6%
    Marital Status
    Commute
    Languages (Primary Language)
    Other
    69%
    Mandarin
    12%
    Cantonese
    11%
    Tamil
    3%
    Tagalog
    2%
    Arabic
    1%
    Spanish
    1%
    Urdu
    1%
    Education
    University and Above
    35%
    High School
    25%
    None
    16%
    College
    15%
    Apprenticeship
    3%
    University Below Batchelor
    3%
    Major Field of Study
    Business Management
    26%
    Architecture & Engineering
    19%
    Health & Related Fields
    12%
    Social Sciences
    11%
    Math & Computer Sciences
    8%
    Humanities
    5%
    Physical Sciences
    5%
    Education
    4%
    Personal, Protective & Transportation Services
    3%
    Visual & Performing Arts
    3%

    Maintenance Fees

    East55 Condos vs The St. Lawrence Area

    Days on Strata

    Units at East55 Condos spend an average of
    35
    Days on Strata
    based on recent sales

    List vs Selling Price

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

    Offer Competition

    Condos in this building have an
    AVERAGE
    chance of receiving
    Multiple Offers
    compared to other buildings in St. Lawrence

    Turnover of Units

    On average, each unit is owned for
    5.5
    YEARS before being sold again

    Property Value

    -6%
    Decrease in property value within the past twelve months

    Price Ranking

    15th
    Highest price per SQFT out of 64 condos in the St. Lawrence area

    Sold Units

    17
    Units were Sold over the past twelve months

    Rented Units

    48
    Units were Rented over the past twelve months

    Best Value Rank

    East55 Condos offers the
    ?
    best value out of 64 condos in the St. Lawrence neighbourhood

    Appreciation Rank

    East55 Condos has the
    ?
    highest ROI out of 64 condos in the St. Lawrence neighbourhood

    Rental Yield

    East55 Condos yields the
    ?
    highest rent prices out of 64 condos in the St. Lawrence neighbourhood

    High Demand

    East55 Condos is the
    ?
    most popular building out of 64 condos in the St. Lawrence neighbourhood

    Transaction Insights at 55 Ontario Street

    1 Bed1 Bed + Den2 Bed2 Bed + Den3 Bed
    Price Range$513,000 - $545,000$570,000 - $699,900$840,000$1,400,000$1,027,500 - $1,040,000
    Avg. Cost Per Sqft$1,120$1,059$1,033$1,149$1,031
    Avg. Wait for Unit Availability28 Days48 Days87 Days256 Days373 Days
    Ratio of Units in Building52%31%14%3%3%

    Unit Sales vs Inventory

    Total number of units listed and sold in St. Lawrence