603 Sherbourne Street Est. Occupancy: TBA

OVERVIEW

603 Sherbourne Street
Upper Jarvis
Concert
Completion: TBA
53 Storeys
500 Units

Burke Condos, Toronto

Sleek, contemporary, and soaring to a majestic 53 storeys, Burke Condos will be a new sophisticated presence at Sherbourne & Bloor. Burke Condos will offer 500 units with a mix of one bedrooms, one bedrooms pus den, two bedrooms, two bedrooms plus den and three bedrooms.

Suites will be bright and open, featuring warm natural finishes and modern design features. The kitchens with Bosch appliances and quartz countertops are designed to inspire chefs and novices alike. The restful baths will make your mornings easy and serve as a retreat. From the wall of windows to the modern kitchen, your home at Burke Condos will be a stylish retreat.

Amenities at Burke Condos will be comfortably laid out across three floors, and designed for quiet relaxation, joyful occasions and work. The second floor will feature a party room with a chef’s kitchen and private dining room, an expansive outdoor terrace with lush greenery, lounge seating and BBQ area. A separate games room, theatre and music room on this floor will take your days and nights to a whole new level. On the 27th floor, you’ll find the state-of-the-art fitness centre with areas for cardio and weight training as well as dedicated spin and yoga rooms. This floor will also feature three meeting rooms that can be used as co-working space, as well as two boardrooms.

At Burke Condos, there is a lot to discover all around. Be steps from the bustle of Bloor Street, the serenity of Rosedale Ravine, the quaint stores in Cabbagetown, and the flavours of Danforth. You can live the big city life here.

FLOOR PLANS

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

AMENITIES

Concierge
Lobby Lounge
Cafe Lounge
Self-Serve Parcel Storage
Pet Wash Area
Party Room w/Wet Bar
Chefs Kitchen
Private Dining Room
BBQs
Theatre Room
Games Room
Multi-Purpose/Kids Room
Music Room
Fitness Centre
Co-Working Spaces

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.

REGISTER FOR FLOOR PLANS AND PRICING AT BURKE CONDOS

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