77 Carlton St Condos: 1,400 Sq Ft Suites at Under $500 a Foot

77 Carlton is the building I mention when someone tells me they need a house-sized home downtown and have a condo budget. Every suite here is roughly 1,400 square feet or larger, and the building trades at under $500 a square foot, which is close to half what newer towers ask. The catch is that you are buying a 1983 building, and the age shows up in the fee, the finishes and the reserve fund. I’m Jatin Dua, RE/MAX Quantum Realty.

A building with no small suites

Most downtown buildings are a mix of studios, one-bedrooms and a few big plans at the top. 77 Carlton is the opposite. Listing data puts the suite range at about 1,413 to 1,884 sq ft, so even the smallest unit here is larger than most two-bedrooms in a new tower.

A recent listing gives a sense of the typical plan: a corner two-bedroom of about 1,400 sq ft with a split-bedroom layout, a separate den, a large eat-in kitchen, a walk-in closet in the primary bedroom, ensuite laundry and an exclusive-use locker. Those are the details that make a condo work for a couple, a small family or someone working from home full time.

The exterior is conventional concrete and glass and does not look special from the street. Sources even disagree on its height. Listing data counts 16 floors, while one building description calls it an 8-storey mid-rise, so confirm the floor count, and how the suites are arranged over it, when you view.

What a 1983 building means for you

This building is more than 40 years old. That brings real advantages, including solid construction, generous rooms and a long track record you can examine. It also means the big-ticket items, such as windows, balcony doors, elevators, the roof, the garage and the heating and cooling systems, have either been replaced already or are due.

Which of those two is true is the most important question you can ask here. The answer is in the reserve fund study, the status certificate and the last two years of board minutes. A well-funded reserve with major work behind it makes this one of the better buys downtown. A thin reserve with major work ahead can mean higher fees or a special assessment. I would not make an unconditional offer here without reading those documents first.

Inside the suites, expect a wide range of condition. Some have been fully renovated with new kitchens and bathrooms; others are close to original. Price per square foot will vary a lot between those, so compare like with like. A renovated suite at a higher price can be the cheaper buy once you count the cost and disruption of doing the work yourself, especially in an older building where contractors usually have to book the elevator and work set hours.

Carlton Street between Church and Jarvis

The block sits just east of Church and Carlton, where the former Maple Leaf Gardens now holds a large grocery store and Toronto Metropolitan University’s athletic centre. The Church-Wellesley Village is a short walk north, Allan Gardens is just east across Jarvis, and Yonge Street, the Eaton Centre and the TMU campus are within a walk. The data panel has subway and walking details.

Carlton is a streetcar route and a busy east-west road, so suites facing the street will hear traffic. Ask which side of the building the suite faces and visit on a weekday evening. The surrounding blocks are also adding new towers, including large projects near Church and Carlton, so check what is planned near the view you are buying.

How a big-suite building behaves at resale

Large suites attract a different buyer from the typical downtown one-bedroom. Most people who buy here plan to live in the suite for years, so turnover is lower and fewer suites come up for sale at any one time. That is good for the feel of the building and less good for liquidity. When you sell, you are waiting for the right buyer rather than the next investor.

It also means a more owner-occupied building in practice, though I cannot give you a figure for the owner and tenant split here; the data panel covers that. In my experience, buildings with mostly long-term owners tend to have engaged boards and well-attended meetings, which can be a real advantage when big repair decisions come up.

If you are coming from a house, a suite here may hold most of your furniture, which is rare downtown. Measure your largest pieces before you view, and check the size of the elevator and the moving-day rules for a building of this age.

Pricing: the lowest price per foot, the biggest fees in dollars

The building average sits around $480 per square foot, far below most downtown buildings, where $800 to $1,000 per square foot is common. For a buyer who needs space, that gap is the whole story.

Because every suite is large, the monthly fee is large in dollar terms, even when it is ordinary per square foot. The fee includes heat, air conditioning, water, parking and building insurance; hydro is not in the listed inclusions, so add your own hydro bill to the monthly cost.

With only one suite listed for sale, I would not read much into a single asking price. I price suites here from recent trades in the building, adjusted heavily for renovation, floor and exposure, and I compare against large suites in nearby older buildings such as The Lexington at 45 Carlton. For sold prices, see the data panel or my building sold report.

Building specifications

Amenities at 77 Carlton Street Condos

The amenity list is modest and very 1980s: a sauna, a squash court and a games room rather than a pool or a sky lounge. You are paying for space inside your suite, not for a resort downstairs.

Jatin’s honest take on 77 Carlton Street Condos

77 Carlton 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.