138 Downes St #7108 is a 2-bedroom, 2-bathroom condo in Toronto, offered as an assignment of the builder's contract, listed for $1,223,000. It has 900-999 sq ft of living space.
1Beautiful "Pacific" Model. 917 Sf Interior & 114 Sf Balcony Open Concept 2 Bedroom+ Den & 2Full Bathrooms with Luxurious Finishes.
2Direct Access To Future Path &School.
3Brand New Stainless Steel Appliances: Stove, Fridge, Microwave, Dishwasher.
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Pre-construction assignmentby Menkes
2 Bed, 2 Bath Condo in Toronto
Unit 7108 at 138 Downes Street
Assignment Opportunity At Sugar Wharf Condominiums By Menkes! Unique South Exposure Unit. Beautiful "Pacific" Model. 917 Sf Interior & 114 Sf Balcony Open Concept 2 Bedroom+ Den & 2Full Bathrooms with Luxurious Finishes. Prime Location! Steps Away From Sugar Beach, Employment, Shops & Restaurants. Farm Boy, Loblaws & Lcbo. Direct Access To Future Path &School. Live In The Best And The Largest Toronto Waterfront Community. The Lake. The Life. The City. Brand New Stainless Steel Appliances: Stove, Fridge, Microwave, Dishwasher. Washer & Dryer. Vertical Blinds & Parking.
2 bedrooms, 2 bathrooms, about 900 sq ft, works out to roughly $1,359 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.
How assignment sales work
What changes when you buy a builder contract instead of a finished home: HST, deposits, builder consent — each checked against its official source.
1
What an assignment is
An assignment sale is when the original buyer of a new, not-yet-completed home (the assignor) sells their rights and obligations under the agreement of purchase and sale with the builder to someone else (the assignee), who then closes with the builder.
Since May 7, 2022, all assignment sales of newly constructed or substantially renovated residential housing are taxable for GST/HST. For assignment agreements entered into after May 6, 2022, an amount that reimburses the assignor's deposit to the builder can be excluded from the taxable amount when the assignment agreement states that part of the price is for that deposit reimbursement.
On a new condominium unit, the builder must hold deposit money in trust under the Condominium Act, and the new home warranty protects up to $20,000 if a deposit was not placed in trust. On a new freehold home, Tarion covers the deposit up to $60,000 on homes priced at $600,000 or less, and 10% of the price up to $100,000 above that.
Whether a unit can be assigned, and on what terms (for example the builder's written consent or an assignment fee), is set by the assignment clause of the original agreement of purchase and sale. Read that clause, with a lawyer, before you commit.
Checked against the sources above on 2026-09-25. Not legal or tax advice.
Ask before you offer
This listing's description doesn't state the original purchase price, how much deposit is paid, the occupancy date or the builder's assignment fee. The full package (the original agreement and deposit receipts) answers these.
Selling an assignment?
List it free with Summitly — your contact details stay private and a licensed agent handles every buyer.
From the listing remarksMLS® listings have no structured assignment fields, so these figures are read from the listing agent's description. We show only what it states clearly — confirm every number against the agreement of purchase and sale and the assignment agreement before you commit.
Builder
Menkes
“Assignment Opportunity At Sugar Wharf Condominiums By Menkes!”
Type
Condo
Style
Apartment
Living space
900-999 sq ftas stated on the listing
Parking
1 spaceYes garage
Basement
None
Features & systems
Parking & garage
Garage
Yes
Parking spaces
1
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Apartment
Property class
Condo Apartment
138 Downes St #7108 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® C14094944$1,223,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 138 Downes St #7108 Compares to the Toronto Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.
How long is your commute?
From 138 Downes St #7108. Typical times without traffic delays; transit times aren't available yet.
Book a tour of 138 Downes St #7108 with a licensed buyer's agent
Your agent is usually paid from the seller's side. We'll confirm the co-operating commission on this listing before you sign anything.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Toronto
Other 1–3 bed homes for sale in Toronto around $1.2M.
Average days on market31Homes sold in about 31 days on average.
Sale-to-list ratio5040.8%On average, homes sold at or above asking.
Active listings12,944Homes for sale here right now.
Median vs prior 90 days+1.8%Compared with Apr 24 – Jul 23, 2026: prices up.
Based on 9,409 sales from Jul 23 – Oct 21, 2026 (6,787 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
More in this building
10 for sale · 9 for rent at 138 Downes St — plus its sale and lease history.
Union StationLine 1, Barrie GO, Kitchener GO, Lakeshore East GO, Lakeshore West GO, Milton GO, Richmond Hill GO, Stouffville GO, UP Express760 m9 min walk
Union Station (Line 1, Barrie GO, Kitchener GO, Lakeshore East GO, Lakeshore West GO, Milton GO, Richmond Hill GO, Stouffville GO, UP Express)9 min walk
Queen Station (Line 1)14 min walk
Lower Jarvis Street2 min walk
Schools
Downtown Alternative School5 min walk
St. Michael Catholic School5 min walk
Market Lane Junior and Senior Public School10 min walk
Saint Michael's Choir School17 min walk
Parks & daily life
Sugar Beach North2 min walk
Sugar Beach5 min walk
Loblaws1 min walk
Kitchen Table6 min walk
7/7
7 of 7 everyday essentials within a 10-minute walk
Most everyday errands can be done on foot around Toronto.
Distance is not enrolment: public and Catholic boards assign schools by attendance boundary. Confirm with the local school board's school locator before you buy.
Nearest subway, GO and LRT stations first, then bus and streetcar stops. 29 stops within a 10-minute walk.
Yes. The listing describes it as an assignment: the original buyer is selling their contract with the builder, and the buyer who takes it over closes with the builder.
How much cash do I need to buy 138 Downes St #7108?
On an assignment you typically repay the original buyer's deposit and pay any markup when the assignment is signed, then pay the builder the balance at final closing, usually with a mortgage. This listing doesn't state enough figures to work out the amounts — ask for the full package.
Is HST charged on an assignment sale?
Since May 7, 2022, assignment sales of new residential homes are taxable for GST/HST (CRA info sheet GI-120). The part of the price that reimburses the original buyer's deposit can be excluded from the taxable amount when the assignment agreement says so.
Does the builder have to approve an assignment?
Usually the original agreement of purchase and sale sets whether the unit can be assigned and on what terms — often the builder's written consent and an assignment fee. Read that clause with a lawyer before you commit.
How much is 138 Downes St #7108 listed for?
138 Downes St #7108 is listed at $1,223,000 (MLS® C14094944). Summitly updates the price as soon as the MLS® record changes.
Has the price of 138 Downes St #7108 changed?
No — 138 Downes St #7108 is still listed at its original asking price of $1,223,000.
How many bedrooms and bathrooms does 138 Downes St #7108 have?
138 Downes St #7108 has 2 bedrooms and 2 bathrooms, with about 900–999 square feet of living space. It is a condo in Toronto.
What schools are near 138 Downes St #7108?
The 4 closest schools to 138 Downes St #7108 in a straight line are Downtown Alternative School (Elementary, Toronto District School Board), about 360 m (about a 5-minute walk); St. Michael Catholic School (Elementary · Catholic, Toronto Catholic District School Board), about 380 m (about a 5-minute walk); Market Lane Junior and Senior Public School (Elementary, Toronto District School Board), about 790 m (about a 10-minute walk); and Saint Michael's Choir School (Elementary · Catholic, Toronto Catholic District School Board), about 1.3 km (about a 17-minute walk). School attendance boundaries change, and a nearby school may not serve this address. Check school boundaries with the board before you rely on them. School locations are from OpenStreetMap.
Is 138 Downes St #7108 close to transit?
The nearest rapid-transit station is King Station (Line 1), about 740 m (about a 9-minute walk) in a straight line. Union Station is about 760 m (about a 9-minute walk), and Queen Station is about 1.2 km (about a 14-minute walk). The closest bus or streetcar stop is Lower Jarvis Street, about 140 m (about a 2-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How does 138 Downes St #7108 compare with other homes in Toronto?
Its asking price of $1,223,000 is about 45% above the median sold price in Toronto over the last 90 days, $845,000, across 9,409 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Where is 138 Downes St #7108?
138 Downes St #7108 is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 138 Downes St #7108 been on the market?
2 days — 138 Downes St #7108 was listed on October 19, 2026.
