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Alex Wilson

RE/MAX Wealth Builders Alex Wilson

1251 Yonge St, Toronto, ON M4T 1W6, Canada

Phone: +1 416-652-5000

RE/MAX Wealth Builders makes every effort to provide accurate, up-to-date pre-construction information. However, details may change without notice, and we cannot guarantee that all information is complete or error-free. RE/MAX Wealth Builders assumes no liability for errors, omissions, or reliance on this information. This website is for general reference only and is not a substitute for legal, tax, accounting, or other professional advice. Please verify all details independently before making decisions.

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Home/The Addison Condos/Velvet

Velvet

Available

$973,990

$1,519/sq ft

2 Bed·1.0 Bath·641 sq ft·East·$1,519/sq ft

Bedrooms

2 Bed

Bathrooms

1.0

Size

641 sq ft

Exposure

East

Prev: Silk3 / 3
Velvet Floor Plan at The Addison Condos - 641 sq.ft
Click to enlarge

Floor Range: 3-5 | Unit Number: 01

Price History

$974K$1.0M$1.0M$1.1M$1.1MMar 23Feb 24

Launch Price

$1,125,990

$1,757/sq ft

Mar 26, 2023

Current Price

$973,990

$1,519/sq ft

$152,000 (-13.5%)
DatePricePrice / Sq Ft
Mar 26, 2023$1,125,990$1,757/sq ft
Feb 28, 2024$973,990
▼ $152,000
$1,519/sq ft
▼ $237/sqft

Deposit Structure

Deposit breakdown for this unit priced at $973,990

(15% + 5%) $10,000.00 On Signing Balance to 5% - 30 days 5% - 90 days 2.5% - 360 days 2.5% - 540 days 5% - Occupancy

MilestoneRateAmountCumulativeDue Date
$10,000.00 On Signing$10,000.00$10,000$10,000On Signing
Balance to 5% - 30 daysBalance to 5%$38,700$48,700Sep 22, 2026
5% - 90 days5%$48,700$97,399Nov 21, 2026
2.5% - 360 days2.5%$24,350$121,749Aug 18, 2027
2.5% - 540 days2.5%$24,350$146,099Feb 14, 2028
5% - Occupancy5%$48,700$194,798At Occupancy
Total Deposit20.0%$194,798

641 sq ft × $0.79/sq ft = $506/mo

Add-ons

Monthly Mortgage (P&I)$4,244
Property Tax (est.)$528
Maintenance Fees$506
Total Monthly Cost$5,277

Down payment: $194,798 (20.0%) · Mortgage: $779,192

Property tax rate: 0.65%. Uses the standard Canadian semi-annual compounding convention. Estimates only—not a pre-approval or offer of credit. Actual rates and eligibility may vary. Provincial sales tax on mortgage insurance, when applicable, is not included. Consult a mortgage professional for accurate figures.

Land transfer tax on this homeRent vs ownView more calculators →

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