Paxton Place, 71 Charles St E: 101 Large Suites at Church and Charles

Paxton Place is where I look when a buyer wants house-sized space near Yonge and Bloor and does not want a 50-storey tower. It has 101 suites on 16 floors, and the smallest of them is larger than most two-bedrooms built in the last ten years. You give up new-build finishes and a long amenity list; you get room, a small owner base and a price per square foot that newer towers on Charles Street cannot match. I’m Jatin Dua, RE/MAX Quantum Realty.

A building of large suites

The defining fact about Paxton Place is size. Suites here run from about 1,315 square feet to roughly 2,735, which puts even the entry-level plan in the range of a generous two-bedroom. There are no studios or compact investor one-bedrooms to speak of.

That shapes who lives here. Large suites in a 101-unit building tend to attract owner-occupiers who stay for years: downsizers leaving a house, couples who both work from home, and people who want a real dining room. At the time of writing, nothing was listed for sale and only one suite was listed for lease.

Recent listings describe corner two-bedroom, two-bathroom plans around 1,400 square feet with dressing areas off the primary bedroom, and at least some upper-floor suites are two-level. Expect the floor plans of the early 1980s: separate rooms and real hallways rather than an open box.

What 1983 gets you, and what it does not

This is a concrete building from the first wave of Toronto condominiums, not a glass tower. Buildings of this age often feel more solid than newer towers, but they also come with older windows, older mechanical systems and suites that may need a full renovation.

Listings report that the common areas have been refreshed, with new carpets, tile, paint, wallpaper, signage, suite doors and updated hallways, and that the pool and party room were modernized. That is a good sign that the board is investing, and it is worth asking how the work was paid for.

The amenity list is modest by today’s standards: an indoor pool with saunas, a gym, a rooftop terrace with barbecues, terraces on the fourth floor, a party room and a meeting room. There is 24-hour security and concierge, a secure package room and staff on site for maintenance and cleaning.

Renovating a 1980s suite here

Many buyers here are really buying a renovation project, so plan for it. Most condominium corporations require written approval for work that touches plumbing, flooring, walls or electrical, and many require a sound-rated underlay under hard floors. Ask management for the alteration rules before you make an offer, not after.

The heat pumps deserve particular attention. In older buildings with suite heat pumps, the declaration says whether the owner or the corporation is responsible for repairing and replacing them, and that can be a meaningful cost. Ask how old the unit in your suite is and whether the building has a replacement program.

Budget realistically. A full renovation of a 1,400-square-foot suite is a large project, and elevator bookings, work hours and contractor insurance rules all apply. The upside is that you end up with a large, modern suite at a cost per square foot well below a new tower.

The corner of Church and Charles

Paxton Place sits at the north end of the Church-Wellesley Village, a short block south of Bloor. Yorkville, the Royal Ontario Museum and the University of Toronto are all within walking distance, and the Yonge and Bloor shops are a few minutes west.

Charles Street East has changed around this building. Newer towers such as Chaz Yorkville at 45 Charles and the three Casa buildings now line the street to the west, which means more people on the sidewalk and, for some lower suites, views that have closed in. Ask which exposures are still open before you fall for a floor plan. The panel on this page covers transit and Walk Score.

Price per square foot in context

The building has averaged about $567 per square foot. Chaz Yorkville, a 2015 tower half a block west, has averaged about $899, and Casa at 33 Charles about $878. On a 1,400-square-foot suite, that gap is worth several hundred thousand dollars.

Part of the discount is age and the cost of renovating a 1980s suite. Part of it is the fee: large suites mean large monthly fees in dollar terms, even when the rate per square foot is reasonable. Parking and water are included, but heat and hydro are not. Listings describe electric heat pumps in the suites, so heating and cooling both run through your hydro bill; ask for a year of bills.

Parking in the fee is worth more than it looks at this location. A separately rented spot this close to Yonge and Bloor is a real monthly cost, and owning a space adds to resale appeal for the kind of buyer who wants a large suite.

There were no suites for sale at the time of writing, so I can’t give you a current asking range. My building sold report shows what has actually traded here, and given how rarely suites come up, it is worth setting an alert.

Building specifications

Amenities at Paxton Place

The amenities are a 1980s set, refreshed rather than reinvented, and that keeps the shared space manageable for 101 owners. The pool and rooftop terrace are the two you will actually use. Because the building is small, you will rarely share the pool with more than a few neighbours.

Jatin’s honest take on Paxton Place

Paxton Place — frequently asked questions

Looking at Church–Wellesley, Corktown, Moss Park and Cabbagetown more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.