Battle of the Buildings – 761 Bay St. VS 763 Bay St.

Battle of the Buildings – 761 Bay St. VS 763 Bay St.

August 20, 2018 0 By admin

Welcome to Bay and College.  A little South on the East side of Bay Street, we can find 761 and 763 Bay St. College Park Residences. Developed by Canadian development firm Canderel Stoneridge, these two elegant buildings were built in two separate phases and we are here to find out which one is the best!

761 Bay Street standing at 46 Stories high, has 541 Units, comprising of 1 bedrooms, 1 bedroom plus den, 2 bedrooms, and 2 bedroom plus den and penthouse suites. The maintenance fees run from approximately around $0.48 sq/ft – $0.63 sq/ft*. The range will be affected by any parking or locker that may be included with the particular unit. The condominium fees do not include hydro. The units sell at approximately $957 sq/ft – $1080 sq/ft * depending on the direction of the exposure of the unit and if there is parking or locker included with the unit.

763 Bay Street standing at 51 Stories high, has 655 Units, comprising of 1 bedrooms, 1 bedroom plus den, 2 bedrooms, and 2 bedroom plus den and penthouse suites. The maintenance fees, which include hydro, run from approximately around $0.62 sq/ft – $0.76 sq/ft*. The range will be affected by any parking or locker that may be included with the particular unit. The units sell at approximately $904 sq/ft – $1081 sq/ft * depending on the direction of the exposure of the unit and if there is parking or locker included with the unit.

 

 

761 Bay St

763 Bay St

Canderel Stoneridge

Canderel Stoneridge

541 Units

655 Units

46 Floors

51 Floors

Hydro Not included

Hydro Included

Graziani + Corazza Architects

Graziani + Corazza Architects

Chapman Design Group

Chapman Design Group

24 hour Concierge

24 Hour Concierge

 

To access the Shops underground, residents of 761 Bay will have to cross over through the underground garage to enter 763 Bay St. The path to shops such as Dollarama, LCBO, Metro market and College Subway station are conveniently located under or in the path accesses closest from 763 Bay St.

Both buildings share the amenities with access to Hollywood style Theatre/Movie Screening Room, Indoor Soaking pool with Private Cabanas, Outdoor Rooftop Terrace with BBQ, Lounging Area, Sun Deck, Party/Multi-Purpose Room with fully equipped catering Kitchen, Two Guest Suites, Gym room, Studio/Meditation room, Individual Storage, Bicycle Room, and Billiard room.

Both Buildings allow for pets but permitted but with restrictions on breed, size and total number allowed per unit.

Many factors will come into play when deciding which building is the best.

If you want your hydro included or excluded is a huge factor. Taking one example, a recent sales of 1+den comparisons from each building proved that the difference in the maintenance fees was $0.16 between the two units ($0.60 sq/ft in 761 Bay and $0.76 sq/ft in 763 Bay). The size of the units that were compared were both about 720 square feet each. When considering the difference of $0.16 per sq/ft ($0.16 x 720 sq/ft = $115.20) the monthly savings is $115.20 a month. However, if you use a lot of hydro and you pay way over $100.00 a month on your hydro bill, then perhaps having hydro included in your maintenance fees would be to your advantage.  On average, hydro charged individually can cost approximately $55.00 – $120.00 (based on individual consumption).

The convenience of having immediate access to the underground shops at 763 Bay Street is absolutely a bonus. Having to cross through the underground garage from 761 Bay to 763 Bay is definitely not as convenient as the immediate access. In conclusion, the savings that may be encountered is a huge benefit when maintenance fees are considered making 761 Bay St the winner in this match.

Please note, I have seen MANY condos where the hydro is included and the maintenance fees and the fees run close to $1.00 per Square foot. That means if you have a unit that is 850 square feet, you will pay $850/month for maintenance fees. Ultimately, 763 Bay Street is still SIGNIFICANTLY LOWER than most other buildings where hydro included. Considering 763 Bay St has a range of $0.62 sq/ft – $0.76 sq/ft. Calculating if that same unit was in 763 Bay Street, it would have a monthly maintenance fee of $646 even in the highest range. That is a $204.00 SAVINGS in comparison.

I hope that this information helps you when evaluation the several important aspects to consider when you are purchasing or selling your condo.

*information has been collected from sales from the Toronto Real Estate Board. Please note that these figures were as of Aug 2018. Due to Toronto’s real estate market, this information will change and may not be relevant at a later time.

 

If you want more information about condos for sale or for rent in 761 Bay St or 763 Bay St. Please submit information below.