1331 Bay St: A 24-Suite 1985 Boutique at Bay and Davenport

1331 Bay Street is one of the smallest condominiums in Yorkville, and that is exactly why people buy it. There are only 24 suites over eight storeys, most of them large, across the street from Jesse Ketchum Park and a short walk from the Bloor and Yorkville shops. It is a 1985 building, and that shapes both the price and what you need to check. I’m Jatin Dua, RE/MAX Quantum Realty.

Twenty-four suites on a reflective-glass corner

The building is easy to spot: a prominent corner facade of reflective glass on Bay Street just south of Davenport. It is a product of the mid-1980s, when that mirrored look was the modern statement, and it stands out among the brick buildings and newer towers around it.

What matters more than the look is the count. With 24 suites over eight floors, there are only about three homes per floor, and you share the elevator with very few neighbours. Listing material describes it as a building chosen for exclusivity and privacy, and at this size that is a fair description rather than a marketing line.

The building faces Jesse Ketchum Park across Bay Street. That gives the front suites an open, green outlook that is unusual this close to Bloor, and it means the view is protected by a park rather than by the next development.

Large suites, and no small ones

Condos.ca puts the suite range at about 796 to 1,881 sq ft. There are no studios or compact one-bedrooms here; even the smallest suites are close to 800 sq ft. That makes this a building of generous one-bedrooms, two-bedrooms and larger homes that suit owner-occupiers and downsizers.

In a building from 1985, many suites have been renovated at least once, and some have not. Kitchens, bathrooms and windows vary widely from suite to suite, so budget for updates if you buy an original suite, and ask whether any renovation that touched plumbing or walls had the corporation’s approval.

Underground parking is included in the fee, and some suites come with storage. Confirm which parking space and locker come with the suite you are viewing; in small, older buildings these are sometimes assigned in ways that are not obvious from the listing.

What a 24-owner corporation means for you

In a tower of 400 suites, one owner’s vote barely registers and one repair is spread thin. Here, it is the reverse. Every budget line, every repair and every board decision is shared by 24 households, so the corporation’s finances move your monthly cost far more directly than in a large building.

That can be a good thing. Small boards often know the building intimately, and owners who care can have real influence. But it also means you should meet the building before you buy it: ask how long the current board has served, how often the corporation has changed managers, and how disagreements have been handled. The board minutes will tell you most of this.

It also explains why sales are rare. Owners in buildings like this tend to stay for years, so when a suite comes up, there is often little to compare it with.

Bay and Davenport, day to day

This corner sits where Yorkville meets the Annex and Summerhill. Yorkville Avenue’s restaurants and galleries and the Bloor Street shops are a short walk south, and a Bay Street bus stops at Davenport, steps from the door. Driving out of the city is straightforward, with the Don Valley Parkway a few minutes away.

Bay Street north of Bloor is busier than the side streets, so ask which way the suite faces and visit at rush hour. The park helps: the suites that look onto it get the greenery without a building directly across. Transit, schools, parks and Walk Score for this address are shown in the data panel on this page.

The area around Bay and Davenport has seen a lot of new development over the past decade, including newer towers in Yorkville to the south. Check the City of Toronto development applications map for anything proposed near the building before you rely on a view to the side or rear.

Larger suites at an older building’s price

Condos.ca reports a building average of about $956 per square foot. That is below the newest Yorkville towers, such as Minto Yorkville Park nearby at about $1,150, and it is a strong number for a building from 1985. Larger suites always trade lower per square foot than small ones, so the gap in what you get for your money is bigger than the average alone suggests.

Fees here are not low. With only 24 owners sharing a concierge, a rooftop terrace and an older building’s maintenance, the per-suite cost is higher than in a large tower. Parking and water are included, which offsets some of that, but heat and hydro are not listed as included, so ask for a year of utility bills.

When I checked there was only one suite for sale and none for rent, so I cannot give a fair asking range. With 24 suites, sales are rare and every one counts. Ask me for the building sold report, and expect to compare against other boutique buildings in Yorkville and the Annex as well.

Building specifications

Amenities at 1331 Bay Street Condos

For a 24-suite building, the amenity list is generous: a concierge, a gym with a sauna, a party and meeting room with a kitchen, and a rooftop patio with a barbecue and gardens. The rooftop is the one you will use most in summer, and the car wash is a small but real convenience for anyone who keeps a car downtown.

Jatin’s honest take on 1331 Bay Street Condos

1331 Bay Street Condos — frequently asked questions

Looking at Yorkville, the Annex and Midtown more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.