Gerrard Place, 86 Gerrard St E: A 56-Suite 1985 Boutique at Jarvis

Gerrard Place is the building I mention when a buyer tells me they want real square footage downtown and are prepared to give up a lobby full of amenities to get it. It is a narrow 12-storey tower from 1985, squeezed between two older brick buildings near Gerrard and Jarvis, with only 56 suites and none of them small. The low price per square foot is real, and so are the questions you should ask before you buy. I’m Jatin Dua, RE/MAX Quantum Realty.

A slim tower on an infill lot

The first thing you notice about Gerrard Place is how little street frontage it has. The tower fills a narrow lot between two older brickwork buildings, so it reads from the sidewalk as a tall, slim slot rather than a podium and tower. That is unusual for a building of this height, and it is the reason the suite count is so low.

Fifty-six suites over 12 floors means only a handful of homes per floor. You share an elevator and a hallway with very few neighbours, the lobby is quiet, and owners tend to know each other. In a part of downtown full of 40-storey rental and condo towers, that is the main reason people choose it.

The trade-off of a small building is that there are fewer owners to split every repair bill. A roof, an elevator modernization or a window program costs much the same whether 56 or 300 owners share it, so the reserve fund matters more here than in a big tower.

Large suites, and some that span two floors

There is nothing small in this building. Condos.ca puts the range at about 775 to 1,558 sq ft, which means even the one-bedrooms are larger than many two-bedrooms in new towers nearby. Buyers moving out of a house, or couples who both work from home, are the people who get the most from that.

Suites are identified by floor and letter rather than by a standard three-digit number, and at least one recent listing described a two-storey layout. I would not assume every suite is a two-level plan. Ask for the floor plan of the specific suite and confirm where the bedrooms and bathrooms sit, because a split layout lives very differently from a flat one.

A 1985 building also means 1985 finishes unless an owner has renovated. Some suites have been fully updated and some have not, and that difference shows up in the price far more than the floor level does.

Fees, heat and what you pay separately

Condos.ca lists common elements, building insurance and water as the fee inclusions. Heat and hydro are not on that list, so budget for your own utility bills on top of the monthly fee. Before you compare this building with one that bundles heat, add a winter heating bill back in.

Fees in a small, older building are rarely low per square foot, and the one active listing when I checked was no exception. Ask for the current budget, the most recent reserve fund study and whether any special assessment has been discussed, and read the status certificate before you firm up.

Listings mention owned parking for some suites, visitor parking and private lockers off a fifth-floor hallway. Parking downtown is worth real money, so confirm whether the suite you want comes with a space and a locker, and whether they are owned or exclusive-use.

The daily reality at Gerrard and Jarvis

This is a busy, mixed corner. Toronto Metropolitan University is close by, and the shopping around Yonge and Dundas is within walking distance. Allan Gardens and its conservatory are just to the east, which gives you real green space and a winter escape within a few blocks.

Gerrard and Jarvis is a real downtown street, not a polished one. You get student foot traffic, late buses, ambulances heading to the hospital district and the general energy of a dense core neighbourhood. Some buyers love that; others find it wearing after a year. Walk the block at night and on a weekend before you decide.

Jarvis Street is changing quickly, with new towers going up along the corridor. That brings new shops and services, and it also brings construction noise and the chance of a new building blocking a view. Check the City of Toronto development applications map for anything planned on neighbouring lots before you buy.

What Gerrard Place costs

Condos.ca puts the building average at about $546 per square foot. That is well below most of downtown, and two things explain it: the suites are large, and large suites almost always sell for less per square foot, and the building is 41 years old with heat not included in the fee.

There was only one suite for sale and none for lease when I checked, so there is no meaningful active asking range to quote. With 56 suites, a few sales a year is normal, which makes comparables thin. I would look at recent sales here alongside similar-sized suites in older buildings nearby, and I can pull those through my building sold report.

When you weigh the low price per square foot, look at the total monthly cost: the fee, your own heat and hydro, and property tax. On a large suite that number can still compare well with a smaller suite in a newer tower, but you need to do the arithmetic for the specific suite.

Building specifications

Amenities at Gerrard Place

This is a small amenity package: a rooftop deck with barbecues and views, a party room and a meeting room. You are buying space inside your suite rather than a gym or pool, so budget for a gym membership if you want one.

Jatin’s honest take on Gerrard Place

Gerrard Place — 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.