$1,588,000 - 16 Harbour Street Unit 5005, Downtown Toronto
Condo for Sale in Downtown Toronto
48 days on marketNeighbourhood: Waterfront Communities C1
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- MLS Number
- C13696786
- Property Type
- Condo
- Status
- active
- Days on Site
- 48
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,400 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Taxes (2026)
- $6,882
- Maintenance Fees
- $1,378/mo
- Locker
- Owned
- Exposure
- South East
- Balcony
- Open
- Listing Brokerage
- RE/MAX PLUS CITY TEAM INC.
Perched high above Toronto's waterfront, this exceptional residence is wrapped in floor-to-ceiling windows showcasing breathtaking lake, island, and city views. Sun-filled living and dining areas feature rich hardwood flooring, elegant crown moulding, contemporary statement lighting, and a sleek electric fireplace, creating a sophisticated setting for both everyday living and entertaining. The beautifully appointed kitchen offers granite countertops and backsplash, extensive cabinetry, premium stainless steel appliances, and a gas cooktop. A private balcony extends the living space outdoors and provides a spectacular vantage point overlooking Lake Ontario and the Toronto Islands. Thoughtful recent upgrades include hardwood flooring in all bedrooms, new light fixtures, and new bedroom blinds. Residents enjoy an extraordinary resort-style lifestyle with an indoor pool, sauna, fitness centre, basketball court, outdoor tennis courts, rooftop BBQ terrace, elegant party room with catering kitchen, guest suites, meeting room, children's play areas, concierge service, and more. Ideally positioned in Toronto's coveted waterfront district, just steps from Union Station, GO Transit, the PATH, Scotiabank Arena, the Financial District, waterfront attractions, acclaimed dining, premier shopping, and world-class entertainment. A rare opportunity to own a distinctive residence with remarkable views in one of downtown Toronto's most sought-after condominium communities.
Estimate your monthly payments for this property
Estimated Payment
$7,024.26/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 Waterfront Communities C1
Waterfront Communities C1 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 Waterfront Communities C1
- •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
Waterfront Communities C1 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.
16 Harbour Street Unit 5005, Downtown Toronto / Waterfront
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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 30+ years of GTA real estate experience
Fair Market Value
At $1134/sqft, this property is priced in line with current Downtown Toronto market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 48 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.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. The $1378/month fees should cover building insurance, common elements, and reserve contributions.
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.
About Waterfront Communities C1
I know Waterfront Communities C1 well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
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 $6,617 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.