2851 Highway 7 St #2005 is a 2-bedroom, 2-bathroom condo in Vaughan, offered as an assignment of the builder's contract, listed for $499,999. It has 700-799 sq ft of living space.
1Brand new 2 bed/2 bath condo with parking & locker!
2The primary bedroom offers direct balcony access and a private ensuite bathroom.
3Steps to the subway, bus transit, 24/7 grocery store, YMCA and library.
Brand new 2 bed/2 bath condo with parking & locker! Never lived in, fully completed and available for Immediate occupancy. ASSIGNMENT SALE originally purchased for $867K with premium upgrades included! Both bedrooms feature large windows bringing in an abundance of natural light. The primary bedroom offers direct balcony access and a private ensuite bathroom. PREMIUM UPGRADES include a beautiful and functional kitchen island offering additional counter space and room for entertaining, stylish two-tone kitchen cabinetry, an elegant glass-enclosed shower, and premium hardware finishes throughout. ONLY FLOOR PLAN IN THE BUILDING with a spectacular 238 sq. ft. wraparound balcony! 5-STAR AMENITIES include a fully equipped gym with everything you need-no outside gym membership required! Enjoy an outdoor pool, cabanas, BBQ area, workstations, golf simulator, pool table, pet station, children's play area and party room with private BBQ. Prime vmc location! Steps to the subway, bus transit, 24/7 grocery store, YMCA and library. Just 3 subway stops to York University, with Niagara University across the street. Surrounded by restaurants and everyday conveniences including Walmart, Mapletri Asian Supermarket, Costco and Cineplex. Bus stop and Lime e-scooters right outside the building make getting around VMC easy! Highly motivated seller! As this is an assignment sale, only one showing is permitted to the incoming buyer after an offer has been finalized, as a final walkthrough before proceeding.
2 bedrooms, 2 bathrooms, about 700 sq ft, works out to roughly $714 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 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.
Upgrades
D
“ASSIGNMENT SALE originally purchased for $867K with premium upgrades included!”
Parking
Included
“BRAND NEW 2 BED/2 BATH CONDO WITH PARKING & LOCKER!”
Locker
Included
“BRAND NEW 2 BED/2 BATH CONDO WITH PARKING & LOCKER!”
Type
Condo
Style
1 Storey/Apt
Living space
700-799 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
1 Storey/Apt
Property class
Condo Apartment
2851 Highway 7 St #2005 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.
How long is your commute?
From 2851 Highway 7 St #2005. Typical times without traffic delays; transit times aren't available yet.
Book a tour of 2851 Highway 7 St #2005 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 Vaughan
Other 1–2 bed homes for sale in Vaughan around $500K.
Average days on market33Homes sold in about 33 days on average.
Sale-to-list ratio97.6%On average, homes sold below asking.
Active listings1,573Homes for sale here right now.
Median vs prior 90 days+4.6%Compared with May 4 – Aug 2, 2026: prices up.
Based on 1,155 sales from Aug 2 – Oct 31, 2026 (882 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
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.
What did the original buyer pay for 2851 Highway 7 St #2005?
The listing states an original purchase price of $867,000 against an asking price of $499,999 — a markup of $367,001 below the original price. Confirm it against the agreement of purchase and sale.
How much cash do I need to buy 2851 Highway 7 St #2005?
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 2851 Highway 7 St #2005 listed for?
2851 Highway 7 St #2005 is listed at $499,999 (MLS® N13786454). Summitly updates the price as soon as the MLS® record changes.
Has the price of 2851 Highway 7 St #2005 changed?
Yes — it was first listed at $599,999 and is now $499,999, a drop of $100,000 (16.7%).
How many bedrooms and bathrooms does 2851 Highway 7 St #2005 have?
2851 Highway 7 St #2005 has 2 bedrooms and 2 bathrooms, with about 700–799 square feet of living space. It is a condo in Vaughan.
Is 2851 Highway 7 St #2005 close to transit?
The nearest rapid-transit station is Vaughan Metropolitan Centre Station (Line 1), about 660 m (about a 8-minute walk) in a straight line. Highway 407 Station is about 1.3 km (about a 16-minute walk), and Pioneer Village Station is about 2.1 km. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How does 2851 Highway 7 St #2005 compare with other homes in Vaughan?
Its asking price of $499,999 is about 56% below the median sold price in Vaughan over the last 90 days, $1,140,000, across 1,155 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 2851 Highway 7 St #2005?
2851 Highway 7 St #2005 is in Vaughan, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 2851 Highway 7 St #2005 been on the market?
46 days — 2851 Highway 7 St #2005 was listed on September 15, 2026.
