Park Avenue, 48 St Clair Ave W: A 51-Suite Boutique Near Yonge

Park Avenue at 48 St Clair Avenue West is one of the smallest full-service buildings at Yonge and St. Clair. It has 51 suites over 13 storeys, which means few neighbours, large suites and an elevator you rarely wait for. It also means a small group of owners carries every repair, and in a building with a 1950s structure that matters. I’m Jatin Dua, RE/MAX Quantum Realty.

A 1950s structure, a 2005 condominium

The building profile says Park Avenue was originally built in the 1950s, and the condominium corporation was registered in 2005. I could not find a reliable source that says what the building was before, who carried out the conversion or who designed the original structure, so I will not guess. Ask the property manager for the history and read the declaration.

This stretch of St. Clair has a history of reuse. A few blocks west, the former Imperial Oil office tower at 111 St. Clair West was converted to residential use and registered as a condominium in 2017. Park Avenue is a much smaller example of the same idea: an older structure brought back as condominium suites.

For a buyer, the practical point is that the structure is about 70 years old while the condominium is about 20. Find out which systems were replaced when it became a condominium and which are original, because that shapes the reserve fund.

Few suites per floor, large plans

With 51 suites over 13 storeys, there are only about four suites per floor on average. Recorded sizes run from about 556 square feet to roughly 2,564 square feet, so the building leans toward larger two-bedroom and two-bedroom-plus-den plans, with some one-bedrooms.

Low density changes daily life. Corridors are short and quiet, you will know your neighbours, and move-ins and elevator bookings are rarely a problem. It is closer to a private apartment house than a tower.

Parking is not included in the fee, so whether a space and a locker come with a suite varies. Confirm them on the status certificate.

Larger suites in older structures can also have more generous room proportions than new builds, but window sizes and column positions follow the original design. See the suite in daylight before you commit.

Living at Yonge and St. Clair

The building sits on the north side of St. Clair just west of Yonge, which puts the Yonge and St. Clair shops, groceries and restaurants a short walk east. Heading west, St. Clair turns more residential, toward Avenue Road and Forest Hill.

This corridor is changing. UrbanToronto tracks a 49-storey rental tower proposal by Fitzrovia, designed by Hariri Pontarini, at 135 St. Clair West, and other sites along St. Clair have been redeveloped. Ask which way a suite faces and check the city’s development map for the blocks around it.

Living a few minutes from Yonge means you get the convenience without the Yonge Street noise at your door. St. Clair here is a wide avenue with a mix of older apartment buildings and offices, and evenings are calmer than on Yonge itself.

What a small corporation means for owners

Fifty-one suites is a small number to carry a concierge, an elevator and a 13-storey building. Every fixed cost, from the staff contract to elevator maintenance and insurance, is shared among few owners, which is why boutique buildings often carry higher fees per square foot than large towers with more amenities.

The advantage is control. A small board can make decisions quickly, and owners tend to know one another and stay a long time. The risk is that an unexpected repair has nowhere to hide; if the reserve fund is short, the cost lands on a handful of owners.

So I read three things closely here: the most recent reserve fund study, the last several years of budgets and the board minutes. Together they show whether the building has been planning ahead or catching up.

Mid-rise pricing for a boutique address

The building averages about $925 per square foot, which is broadly in line with established buildings around Yonge and St. Clair and below the newer towers going up along the corridor. You are paying for low density and large suites rather than new finishes or a big amenity package.

Price per square foot also varies more here than in a large tower. With so few suites, one renovated two-bedroom or one unrenovated plan can move the building average noticeably, so treat the average as a starting point and compare the specific suite against recent sales of similar size and condition nearby.

There was only one suite for sale at the time of writing, so I will not quote a single price or fee. With 51 suites, listings are infrequent, and you may need to wait for the right plan. The fee includes heat and air conditioning, but not hydro or parking, so add those when you compare with other buildings. My building sold report shows what has actually closed.

Building specifications

Amenities at Park Avenue

The amenities are simple: concierge and security, a party room, a meeting room and an underground garage. In a 51-suite building, staff cost is the main thing you pay for, and the payoff is a lobby where the concierge knows who you are. If you want a gym, you will be looking at clubs nearby.

Jatin’s honest take on Park Avenue

Park Avenue — 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.