250 Lawrence Ave Est. Occupancy: 2023

OVERVIEW

88 Queen St East
Church Corridor
St. Thomas Developments Inc
Hariri Pontarini
Completion: 2025
28 & 29 storeys Storeys
543 Units

88 Queen Condos logo

88 Queen Condos in Downtown Toronto

After a sold-out success of 88 North Condos, St. Thomas Developments Inc brings the second phase of 88 Queen, 88 South. 88, on Queen Street East, is the group’s latest development. Occupying a full city block in Toronto’s burgeoning downtown; it comprises residential buildings, a park, a hotel, and a beautiful covered arcade with cafes, restaurants and shops. 88. Redefining the urban experience.

Designed by Hariri Pontarini architects, this 29 storey mixed-use tower will be occupied by 543 residential condos, retail at grade, and many hotel-inspired amenities. Condos range in size from one bedrooms to three bedrooms with all one bedroom plus den condos given two bathrooms. 88 Queen also offers exclusive two-storey penthouses for three bedroom units. Some of the amenities at 88 Queen Condos include a rooftop terrace with pool, hot tubs and lounge area.

A public square sits at the centre of the block that spans from Shuter Street to Queen Street East in Toronto’s downtown east core. This area is in close proximity to Toronto’s Financial District, Yonge and Dundas Square, George Brown College, as well as highly regarded restaurants, cafes and bars.

Queen Subway station is a short walk away or you can jump on the 24 hour Queen streetcar found at the south side of the 88 Queen mixed-use development. With fewer opportunities to live in a brand new condo in Toronto’s downtown core, 88 Queen may be the perfect project for you.

FLOOR PLANS

1 Bedroom
1 Bedroom+Den
2 Bedroom
2 Bedroom+Den
3 Bedroom

AMENITIES

Fitness Centre
Pool
Hot Tub
Lounge

REGISTER FOR PRICING & FLOOR PLANS FOR 88 QUEEN CONDOS

YES I WANT ACCESS

PRE-CONSTRUCTION CONDO FREQUENTLY ASKED QUESTIONS

The process to buying pre-construction condos can be quite rushed. When you register with us for a project, we’ll reach out to you to get your specifics, so it’s good to know in advance the type of unit you’re looking for and your budget. If you register ahead of the sales launch and are serious about buying, we will get you to fill out a builder suite request worksheet.

You can see the full Steps to Purchase here.

By submitting a worksheet, you increase your chances of getting your preferred suite. In essence, it is a suite request sheet. It shows the condo developer that there are interested buyers. Agents are then allocated suites based on the worksheets they submit.

Many pre-construction launches are fast-paced and extremely competitive with buildings selling out in 24 hours. In these launches a suite request worksheet submission is necessary to ensure that you actually have a possibility of receiving the suite you’d like (but this is never guaranteed).

You are not guaranteed to receive the suite you request and you are also in no way obligated to buy the suite you’ve been allocated.

Learn more about builder worksheets here.

We are unable to guarantee that the suite you request will be allocated to you and your agent. Many pre-construction sales launches are extremely competitive and fast-paced. To increase your odds of receiving an allocation it is best to be flexible on the type of suite, floor and exposure that you have requested. You are also in no way obligated to purchase the suite you’ve been allocated.

Learn more about builder worksheets here.

Pierre’s expertise in Toronto’s pre-construction condo market has earned him Platinum Broker status among Toronto’s top developers. This means that when you buy or invest with the Pierre Carapetian Group team, you have your pick of the best floor plans and the lowest pricing available.

We represent you, not the builder and we will always guide you towards projects that we believe are a good investment and have great resale value.

Download our Pre-Construction Investment Guide to get better acquainted with the process.

The deposit structure on pre-construction condos will vary from project to project but generally breaks down like this:
$5,000 on signing
balance to 5% in 30 days
5% in 60-90 days
5% in 120-270 days
5% on occupancy

Yes. As we mentioned, the process to buying pre-construction can be quite competitive and rushed. After you’ve signed an Agreement of Purchase and Sale with the builder you are given ten days to look over the contract and ensure everything looks good for you. Keep in mind, the cooling off period is ten consecutive days, not ten business days.

Getting a lawyer, preferably one who is familiar with pre-construction contracts, is never a bad idea. We would encourage our clients to have a real estate lawyer review their Agreement of Purchase and Sale during the Cooling Off period. If you need help finding a lawyer, we can introduce you to our lawyer who handles many of our pre-construction clients.

You won’t need a mortgage pre-approval right away, but it is always best to speak to your mortgage professional so that you fully understand your borrowing power.

You will however need a Mortgage Letter that states upon the building taking occupancy you will be able to afford and carry the property. Typically this is required within the first 30 days of signing. It is always a good idea to get a mortgage pre-approval in the beginning of your real estate journey so that you know how much you can afford.

On closing, which is three to four years after signing, you will need to pay closing costs. As with any property purchase you will have to pay:
• Legal fees (about $1,500-$2,000)
• Municipal & Provincial Land Transfer Tax (this will depend on the price of the property–use our Land Transfer Tax calculator)

In addition to these, pre-construction closing costs also include:
• Development charges (these vary per project depending on the unit type but can range from $5,000-$12,000)
• HST (for investors, which can be rebated back up to $24,000)

Read more on the nuances of Closing Costs here

This will depend on whether you are buying as an end user (planning to live there) or an investor. In Ontario, there are two types of HST Rebates in place for newly built properties.

If you are buying as an end user, typically the Ontario HST rebate is assigned to the builder directly upon closing, allowing the builder to essentially pay the cost of the HST from your purchase.

If you are buying as an investor, you must pay the HST upfront at closing and have your lawyer file for a full HST rebate, refunded 4 to 6 weeks later provided they have a one year lease in place.

You can read more on the HST Rebate here.