101 Spadina is a condo tower by Devron Developments at Spadina Avenue and Adelaide Street West, where the Fashion District meets King West. With suites starting at $821,000, it is priced for buyers who want to live downtown, not for investors looking for the cheapest unit.
A higher starting price, and what it tells you
The City of Toronto’s average resale condo sold for $651,648 in August 2026. 101 Spadina starts about $169,000 above that. A starting price this high usually means the building has few small studios and more one-bedroom-plus-den and two-bedroom suites.
That shapes the building. More owners who live in their suites generally means better upkeep and a more stable condo board. It also means a smaller pool of buyers when you resell, since fewer people can afford the price point. Ask for the suite mix so you know how many homes of each size the tower has.
The deposit, spread over three years
The deposit is 15 per cent paid over 1,100 days. On $821,000 that is $123,150, in instalments across roughly three years. A long schedule keeps each payment manageable, but your money is committed until early 2029 without earning anything. Deposits on new condos are protected by Tarion up to $20,000 and by the builder’s trust arrangements beyond that, so ask how the excess deposit insurance works for this project.
Land transfer tax downtown
Every Toronto purchase carries both the Ontario tax and the city’s own tax. At this price the two together are a large cost on closing day, and first-time buyer rebates cover only part of it. The amounts are set out below.
The location
Spadina and Adelaide is one of the most walkable corners in the city. The 510 Spadina streetcar stops outside and runs to Spadina station and Union Station. King Street’s restaurants, the Entertainment District, Chinatown and Kensington Market are all within a short walk. The Well, with its food hall and shops, is two blocks south. Most residents here do not need a car, which is worth remembering before paying for a parking space.
Questions to ask
- What is the suite mix, and how many floors is the tower?
- What is the price per square foot for the plan you want?
- Is parking available, and at what price?
- What are the estimated maintenance fees?
Closing costs at the starting price
Land transfer tax on $821,000 in Toronto is about $25,790, or $17,315 for a first-time buyer after rebates, including Toronto's municipal tax. New homes also carry builder closing adjustments such as development charges, utility connections and Tarion enrolment, which are set out in the agreement and are often capped on request. Have a lawyer review the agreement during the 10-day cooling-off period on a new condominium. The land transfer tax calculator and the HST rebate guide cover the rest.