Victoria Boscariol, Toronto Real Estate agent

Yorkville Toronto Condo Buildings & 3 Bedroom Units

3 Bedroom Luxury Condos For Sale Yorkville Toronto Victoria Boscariol Chestnut Park Real estateThree bedroom units are a rarity in Yorkville as they make up only 3% of the condos sold each year on MLS. Therefore not all Yorkville condo buildings feature 3 bedroom suites and if they do they usually amount to less than a handful of suites in the building.  

Often times these suites are the result of reconfiguring a 2 bedroom plus den floor plan or putting two units together in the pre-construction phase.  This creates a 3 bedroom unit that is one of a kind with a unique floor plan to the building.

Three bedroom units also tend to be in luxury condo buildings that accommodate larger suite sizes.

Why so few 3 bedroom condo units in Toronto?
You have to go back to the development stage of a condo building to find the answer. Unlike other cities around the world, Toronto has a different lending framework when it comes to financing the developers of condo projects.  

The banks say to developers, before we are going to loan you a dollar for your project you have to have at least 75% -85% (or whatever the metric) of the units pre-sold in order for us to finance you.  The developers can only start construction after this sales target has been met.

The challenge then comes with pre-selling a 3 bedroom unit to a family.  The family has to put down a 20% deposit for a condo to be delivered 4 to 7 years from now.   The time lapse is critical for a family who needs the unit now and cannot wait.  There in lies the disconnect with delayed supply only available in a marketplace of immediate demand.

Developers would like to build 3 bedrooms but they can't pre-sell them and if they can't pre-sell them they simply don't get built.  

As Toronto house prices rise to unaffordable levels for many, demand for 3 bedroom condo units has increased dramatically but that demand is for 3 bedroom units that are ready now not for units that will be ready several years down the road.

Why so few 3 bedrooms condo units in Yorkville?
Developers of luxury condos in Yorkville cater to downsizers and people who have multiple residences around the world and for these luxury buyers the floor plan of choice is often the 2 bedroom plus den or library.   

Yorkville Condo Buildings With 3 Bedroom Suites
While the number of 3 bedroom units in each building is very small, if you are looking for a 3 bedroom floor plan in Yorkville here are some condo buildings to consider:

Yorkville luxury condo buildings:

Penthouse level suites and units on higher floors in these Yorkville condo buildings tend to take up the full or half of a floor and feature 3 bedrooms:

New Yorkville condo developments in the under construction stage have a few 3 bedroom units or may be able to re-configure a 2 bedroom plus den floor plan into a 3 bedroom:

Some older Yorkville condo buildings also offer 3 bedroom floor plan options with the added bonus of being more reasonably priced:

Because of the limited numbers of three bedroom units, when they do come up for sale they sell very quickly, so its best to retain a good real estate agent who can notify you as soon as these units are listed for sale in your condo building of choice.

Contact Me to find out more about opportunities to purchase 3 bedroom units Yorkville and downtown Toronto

Victoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States. 

 

Alert me when 3 bedroom units come up for sale in Yorkville Toronto Condo Buildings

New Or Resale?  Buying & Investment Opportunities In Yorkville & Toronto's Condo Market

See the latest condo projects PLANNED & PROPOSED for Yorkville

See the most comprehensive GUIDE to Yorkville Toronto Condos

See the latest Yorkville Toronto New Condos Under Construction

See the latest Yorkville Toronto Pre Construction Condos

See MLS LISTINGS for Yorkville Toronto condos

See more of the latest SOLD PRICES and SOLD STATS for Yorkville Condos Toronto

See the latest Sales for Yorkville Toronto Condos by Building Address

SEE MAP OF YORKVILLE ANNEX CONDOMINIUMS CURRENTLY AVAILABLE FOR SALE

Moving On? Divorce & Buying Or Selling Your Yorkville Condo

See Yorkville Toronto Luxury Penthouses

Yorkville's Most Exclusive Condos Of Under 50 Suites

See Yorkville Toronto Condos Pet Friendly Buildings

Questions you need to ask before you buy Yorkville Toronto condos

See the latest news on Yorkville Toronto Condos New Releases

Investing in New & Pre-construction Condos in Yorkville & Downtown Toronto?
How to get the Maximum Return On Investment

Buying a NEW CONSTRUCTION condo in Yorkville? What you need to know BEFORE you visit the sales office

Questions about Yorkville Toronto condos?

Thinking Of Selling Your Yorkville Luxury Condo?  Contact Victoria

The History of the Village of Yorkville

See Yorkville Toronto Schools & Daycares with Quality Rankings & Reviews

There is always a healthy supply of condominium units available for sale in the Yorkville area. However, the best suites, the units with the great floor plans, clear views and in the good buildings sell right away. Top valued condos sell within days and if you want the opportunity ...

 

 

 

adminlistingsprivacy policycontactsite map
Chestnut Park Real Estate Limited Brokerage, independently owned & operated
MLS®, REALTOR® and the associated logos are trademarks of The Canadian Real Estate Association
Copyright © 2002-2017. All rights reserved.
Real Estate Website Design by Lone Wolf Technologies.
Lone Wolf Technologies