1132 Bay Street Condos: 25 Suites, Two Per Floor, Near Bay and Bloor

1132 Bay Street is one of the smallest condominium buildings on the Bay corridor and one of the most private. It has 25 suites over 13 floors, about two per floor, and the suites are closer in size to a house than to a downtown condo. Very few of them come up for sale, so if you want this building you need to be ready when one does. I’m Jatin Dua, RE/MAX Quantum Realty.

Two suites per floor

The defining fact about 1132 Bay is how few people live here. With 25 suites on 13 floors, most floors have two suites, which means you share an elevator landing with one neighbour at most. There are no long corridors and very little traffic in the common areas.

That privacy is what you are paying for. It also means the condominium corporation is small: 25 owners share the cost of the roof, elevators, garage and staff. A small corporation can be very well run, because owners know each other and decisions are quick, but a major repair is felt by every suite. Read the reserve fund study with that in mind.

House-sized layouts with fireplaces

Building profiles describe suites starting around 2,300 square feet and reaching about 2,600, with layouts from two bedrooms plus den to three full bedrooms. The size data recorded for the building is thinner, showing about 2,260 square feet, which is consistent with the low end of that range. Either way, these suites are four to five times the size of an average downtown condo.

The finishes mentioned include nine-foot ceilings, fireplaces and ensuite laundry. Fireplaces in a condo are rare and add a lot to the feel of a suite, but they also need maintenance and inspection, so ask whether they are wood-burning or gas and who is responsible for servicing them.

Because the suites are so large and the building is from 1984, renovation level makes a big difference to value. A suite that has been fully redone and one with original kitchens and baths can be very different propositions at the same size. Budget for the work honestly before you compare prices.

Staff and the small-building feel

Profiles note that the building has a 24-hour concierge and an on-site superintendent, which is unusual in a building this small and is one of its quiet strengths. Having someone in the building who knows the systems and the residents makes daily life easier and repairs faster.

The amenity list is short but useful: a gym, a sauna and a rooftop terrace, and the building’s written profile also mentions an indoor pool. The amenity list on the same profile does not show a pool, so confirm on a visit before you count it.

What buying in a 25-suite building involves

Buying in a building this small is different from buying in a 400-suite tower. Comparable sales are scarce, so it is harder to judge value and some lenders’ appraisers will reach for sales in other buildings. Expect to support your offer price with sales of similar large suites nearby, and give yourself time in the financing condition.

The status certificate deserves extra attention too. In a small corporation, one large repair, an insurance claim or a shortfall in the reserve fund is shared by only 25 owners, so each suite’s share is larger. Look at the reserve fund balance per suite, not only the total, and check whether any major project is planned in the next few years.

Resale works the same way in reverse. When you sell, there may be no other listing in the building to compete with, which can help, but the pool of buyers for a suite of more than 2,000 square feet is smaller than for a one-bedroom. Large-suite buildings like this one reward patience on both sides of the deal.

Bay and Charles, a block from Bloor

The building sits on the corner of Bay and Charles Street West, a block south of Bloor. Yorkville, the Manulife Centre and the shops along Bloor are a short walk north, and the Yonge and Bloor area is a few minutes east. That central location is a big part of the value, and the automatic panel on this page covers transit, schools and walkability.

Across Bay Street at the same corner sits ELEVN Residences at 1121 Bay, a much newer building with smaller suites, and just to the north is the 22-storey tower at 1166 Bay. Comparing the three side by side shows clearly what you get in an older boutique building: far more space and privacy, in exchange for age and a smaller amenity list.

Pricing at 1132 Bay

condos.ca puts the building’s average at about $715 per square foot. That is low for a location a block from Bloor, and it reflects how large the suites are: very large suites nearly always trade at a lower price per square foot than one-bedrooms, even in the same neighbourhood.

With only 25 suites, there is often one listing or none at all, so I cannot give a meaningful asking range here. Your best guide is the recent sales history across the building and nearby large-suite buildings such as 1166 Bay. I can pull a sold report for you before you make an offer.

The monthly fee covers common elements, insurance, parking and water, but not heat or hydro. In a suite of more than 2,000 square feet, those utilities add up, so ask the seller for a year of bills alongside the status certificate.

Building specifications

Amenities at 1132 Bay Street Condos

The amenities are modest, but the staffing is not: a 24-hour concierge and a superintendent on site serve just 25 suites. For most owners here that matters more than a party room or a theatre would.

Jatin’s honest take on 1132 Bay Street Condos

1132 Bay Street Condos — frequently asked questions

Looking at St. Lawrence, the Financial District and Downtown Yonge more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.