MLS® listing
138 Downes Street 3507: common element condo for sale
$918,000
From the listing brokerage
Experience the best of waterfront living surrounded by breathtaking lake views and the energy of downtown Toronto.This luxurious 2-year-new 2-bedroom, 2-bathroom suite features 778 sq. ft. of elegant interior space and a stunning 337 sq. ft. wraparound balcony, offering panoramic lake and city views from the living room, both bedrooms, and the balcony.Ideally located in the heart of Toronto's Lakeshore community, just steps from Union Station, Loblaws, LCBO, St. Lawrence Market, the Gardiner Expressway, the Financial District, and the Entertainment District. This AAA location delivers an exceptional combination of convenience, lifestyle, and luxury.
Facts on the listing
| Square feet | 700-799 |
|---|---|
| Approximate age | 0-5 |
| Style | Apartment |
| Basement | None |
| Parking spaces | 0 |
| Garage | None |
| Heating | Forced Air |
| Cooling | Central Air |
| Kitchens | 1 |
| Rooms | 5 |
| Maintenance fee | $761 |
| Property tax | $3,914 |
| Tax year | 2025 |
| Locker | None |
| Pets | Yes-with Restrictions |
| Exposure | South East |
| Fee includes | Building Insurance Included, Common Elements Included |
| Building amenities | Exercise Room, Guest Suites, Gym, Party Room/Meeting Room, Rooftop Deck/Garden |
| Balcony | Open |
| Laundry | Ensuite |
| Parking | None |
| Interior features | Carpet Free |
| Features | Clear View, Hospital, Lake/Pond, Public Transit, School |
| Floor | 28 |
Listing courtesy of HOMELIFE NEW WORLD REALTY INC.. MLS® C13679484.
About this common element condo
138 Downes Street 3507 is a 2 bedroom common element condo in TRREB's Waterfront Communities C8 community in Toronto, listed for sale at $918,000. The listing shows 2 bathrooms and 700-799 square feet. The style is given as apartment. The unit faces south east. The listing shows no parking space. The nearest main intersection given is Lakeshore Blvd & Downes St. The age is listed as 0-5 years.
These details come from the listing brokerage through TRREB's MLS® System. Room sizes, parking and locker ownership and what the fee covers should all be checked against the status certificate before an offer is firm.
Building amenities on the listing: exercise room, guest suites, gym, party room/meeting room and rooftop deck/garden.
What it costs to buy 138 Downes Street 3507
At the asking price of $918,000, a buyer pays two land transfer taxes on closing: the Ontario tax and the City of Toronto's municipal tax. Both apply to every home inside the City.
| Asking price | $918,000 |
|---|---|
| Ontario land transfer tax | $14,835 |
| Toronto municipal land transfer tax | $14,835 |
| Both taxes | $29,670 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $66,800 |
The down payment figure is the federal minimum: 5 percent of the first $500,000 and 10 percent of the rest. A lender can ask for more. These figures use the asking price, so they change if you pay more or less. Legal fees, title insurance and adjustments are extra: ask your lawyer for a written quote. This is general information, not legal or tax advice. Confirm the figures with a lawyer or accountant. You can change the price in our land transfer tax calculator and our mortgage calculator.
What it costs to own each month
| Maintenance fee | $761 a month |
|---|---|
| Property tax (2025) | $3,914 a year, about $326 a month |
| Fee and tax together | about $1,087 a month |
The listing says the maintenance fee includes building insurance and common elements. That is before a mortgage payment, home insurance and any utilities the fee does not cover. Fees are set each year in the corporation's budget and can change. The status certificate shows the current fee, the budget behind it and the reserve fund.
What to check before you make an offer
- Order the status certificate. A condo corporation must provide it within 10 days of a request and can charge up to $100. It shows the fee for this unit, any arrears, the budget, the reserve fund balance and any special assessment or lawsuit the corporation knows about.
- Have a lawyer read it. The certificate comes with the declaration, by-laws and rules. Ask what they say about pets, renting the unit and renovations. The listing gives pets as "Yes-with Restrictions".
- Confirm the parking and locker. Ask whether a space or a locker comes with the unit and whether one can be rented in the building.
- Check the reserve fund study. Ask when the last study was done and what it says about contributions.
- Get your financing in writing. A lender looks at the maintenance fee and the property tax as well as the price.
- See it in person. Photos do not show noise, light at different hours or the state of the hallways and elevators.
Our first-time home buyer guide and our page for buyers walk through each step. This is general information, not legal advice. Confirm the details with a lawyer.
About Downtown Waterfront
A condo market between the rail corridor and the lake, with Union station at its north edge. Almost every sale here is a condo apartment.
Transit: Union station (Line 1 and GO), St Andrew station (Line 1), Exhibition GO to the west, 509 Harbourfront, 510 Spadina and 504 King streetcars, 121 Esplanade-River bus
| Property type | Median | Sales and average |
|---|---|---|
| Waterfront Communities C1, all property types | $610,000 | 401 sales, average $730,812 |
| Waterfront Communities C1, condo apartment | About $607,000 | 396 sales, average about $726,000 |
| Waterfront Communities C1, condo townhouse | About $890,000 | 3 sales, average about $927,000 |
| Waterfront Communities C8, all property types | $597,500 | 114 sales, average $716,565 |
| Waterfront Communities C8, condo apartment | About $595,000 | 113 sales, average about $712,000 |
Source: TRREB community housing market reports, as set out in the guide.
Questions about Downtown Waterfront
What do waterfront condos in Toronto sell for?
From April to June 2026 TRREB recorded a condo apartment median of about $607,000 across 396 sales in Waterfront Communities C1 and about $595,000 across 113 sales in Waterfront Communities C8.
Is the downtown waterfront a good place to live without a car?
For transit it is well placed, with Union station for Line 1 and GO trains, St Andrew station on Line 1 and the 509 Harbourfront, 510 Spadina and 504 King streetcars. Exhibition GO is to the west.
Are there houses for sale on the downtown waterfront?
Very few. TRREB recorded no detached sales in either community from April to June 2026 and only one or two freehold sales, while 509 of the 515 sales were condo apartments.
Which parks are on the waterfront?
City parks include HTO Park, Sugar Beach Park, Sherbourne Common, Canoe Landing, Roundhouse Park, Berczy Park and David Crombie Park.
Are there community centres and libraries nearby?
Canoe Landing Community Recreation Centre is at 45 Fort York Boulevard and St. Lawrence Community Recreation Centre at 230 The Esplanade. The Toronto Public Library has Fort York and St. Lawrence branches.
Read the Downtown Waterfront neighbourhood guide · All Downtown Waterfront homes for sale
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Questions about 138 Downes Street 3507
How much is land transfer tax on 138 Downes Street 3507?
At the asking price of $918,000 the Ontario tax is $14,835 and the Toronto tax is $14,835, $29,670 in total. A first-time buyer who qualifies can get up to $8,475 back. Confirm the final figures with your lawyer.
What is the minimum down payment for 138 Downes Street 3507?
$66,800 at the asking price of $918,000, under the federal minimum down payment rules. A lender may require more.
What is the maintenance fee at 138 Downes Street 3507?
The listing shows $761 a month, including building insurance and common elements. Check the current fee in the status certificate.
How much is the property tax on 138 Downes Street 3507?
The listing shows $3,914 a year for 2025, about $326 a month.
How do I book a showing for 138 Downes Street 3507?
Use the form on this page or call us. Quote MLS® C13679484. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 138 Downes Street 3507 still for sale?
This page is refreshed from TRREB's MLS® System through the day. If the listing sells or is withdrawn the page says so. Contact us to confirm before you make plans.
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