Assignment Condo for Sale
In a market where prices remain stubbornly high and inventory often feels uninspiring, opportunities that combine value, location, and long-term upside deserve serious attention. Reina Condos Distressed Assignment offers exactly that: a rare chance to secure a modern two-bedroom condominium at a discounted price in one of Toronto’s most dynamic west-end corridors.
Register below to secure your unit
In a market where prices remain stubbornly high and inventory often feels uninspiring, opportunities that combine value, location, and long-term upside deserve serious attention. Reina Condos Distressed Assignment offers exactly that: a rare chance to secure a modern two-bedroom condominium at a discounted price in one of Toronto’s most dynamic west-end corridors.
This assignment represents a compelling entry point for both investors and end-users who understand the importance of location, transit connectivity, lifestyle amenities, and long-term urban growth. Situated at 689 The Queensway, Reina Condos is positioned at the intersection of convenience, lifestyle, and smart capital deployment.
With a reduced asking price of $720,000 compared to the original purchase price of $800,000, this distressed assignment unlocks immediate built-in equity, a feature that has become increasingly rare in today’s condo market.
Let’s break down exactly why this opportunity deserves serious attention.
This thoughtfully designed two-bedroom, two-bathroom suite spans 660 square feet, offering efficient use of space, modern finishes, and a layout suitable for both living and investment purposes.
Key Property Details:
Project: Reina Condos
Assignment Type: Distressed Assignment
Size: 660 Sq. Ft.
Bedrooms: 2
Bathrooms: 2
Exposure: West
Floor: 2
Address: 689 The Queensway, Toronto
Original Price: $800,000
Asking Price: $720,000
Parking: $45,000
Locker: Not included
This pricing creates immediate financial leverage. In simple terms: you are purchasing below original market value, in a project designed for modern urban lifestyles, within a corridor poised for long-term growth.
The Queensway corridor has undergone massive transformation over the past decade. Once known primarily for big-box retail and low-rise commercial buildings, it has evolved into a high-demand residential and lifestyle district.
The area now offers:
Excellent transit connectivity
Proximity to downtown Toronto
Rapid redevelopment and intensification
Strong demand from renters and buyers
Easy access to parks, waterfront, and trails
One of the defining advantages of this Reina Condos Distressed Assignment is transit access. Residents benefit from:
TTC streetcar routes along The Queensway
Quick access to Mimico GO Station
Easy highway connectivity via Gardiner Expressway and QEW
Fast commute times to Downtown Toronto, Etobicoke, and Mississauga
This level of accessibility ensures strong long-term tenant demand and enhances resale liquidity.
Living at 689 The Queensway means having a broad selection of amenities right outside your door:
Grocery stores and specialty food shops
Cafes, restaurants, and boutique retail
Fitness centers and yoga studios
Humber Bay Shores waterfront trails
High-end dining and entertainment options
This walkable lifestyle significantly boosts both livability and rental attractiveness.
Reina Condos is designed to balance architectural sophistication with functional efficiency. The building emphasizes:
Clean contemporary lines
High-quality materials
Energy efficiency
Modern urban aesthetics
The design prioritizes comfort, usability, and timeless appeal rather than short-lived trends.
Residents can expect access to:
Fully equipped fitness facilities
Social lounges and workspaces
Secure entry systems
High-speed elevators
Bicycle storage
Professionally designed common areas
These amenities align perfectly with the preferences of young professionals, couples, and urban-focused renters.
At 660 square feet, this two-bedroom suite delivers a functional, efficient layout without wasted space. The design prioritizes flow, comfort, and daily usability.
Two-bedroom units consistently outperform smaller layouts when it comes to:
Rental demand
Resale liquidity
Tenant stability
Price resilience
This configuration appeals to:
Professional roommates
Couples requiring home office space
Young families
Long-term renters
West-facing exposure provides excellent natural light throughout the afternoon and evening, enhancing:
Energy efficiency
Living comfort
Overall appeal
Sunlight exposure is an underrated driver of both tenant satisfaction and resale demand.
Original Purchase Price: $800,000
Current Asking Price: $720,000
This $80,000 price gap immediately improves your financial positioning, whether you intend to:
Hold long-term
Rent out
Reassign
Resell after completion
This discount effectively insulates you against short-term market fluctuations and improves your risk-adjusted return.
Parking is offered separately at $45,000, providing:
Enhanced rental appeal
Additional resale leverage
Long-term scarcity-driven value
In west Toronto, parking remains a premium feature, particularly for professionals and couples.
A distressed assignment typically arises when the original buyer is unable or unwilling to close, often due to financing changes, personal circumstances, or market timing. For new buyers, this creates opportunities to acquire assets below market value.
Discounted pricing
Faster transaction timelines
Reduced market competition
Potential upside at completion
The Reina Condos Distressed Assignment represents precisely this type of strategic window.
The rental market in this area is driven by:
Young professionals
Healthcare workers
Downtown commuters
Couples seeking waterfront access
This ensures strong absorption rates and minimal vacancy.
Two-bedroom condos consistently generate:
Higher gross rental income
Better tenant quality
Longer lease durations
This unit configuration offers excellent flexibility for different rental strategies.
The west-end transit corridor continues to benefit from:
Public transit investments
Road improvements
Active transportation infrastructure
Waterfront redevelopment
Each of these supports long-term price appreciation.
Toronto’s planning strategy favors:
Higher density near transit
Mixed-use developments
Sustainable urban living
This supports continuous demand for centrally located condominiums like Reina Condos.
Increasing numbers of professionals are shifting toward west Toronto for:
Lower density feel
Waterfront access
Improved work-life balance
Faster highway connectivity
This lifestyle trend reinforces long-term value stability.
Acquire at a discount, rent out, and benefit from:
Capital appreciation
Rental income
Mortgage paydown
Hold until occupancy, then resell into a stabilized market, capturing:
Assignment discount
Market appreciation
Improved buyer sentiment
Rent initially, monitor market conditions, and exit when pricing peaks.
While Toronto’s long-term fundamentals remain strong, short-term price fluctuations can occur. The built-in discount provides a buffer, but buyers should maintain conservative financing assumptions.
Ensure adequate liquidity for:
Closing costs
Interim occupancy fees
Potential interest rate shifts
This Reina Condos Distressed Assignment is particularly well-suited for:
Strategic real estate investors
Young professionals purchasing first property
End-users seeking modern urban living
Buyers prioritizing location, transit, and lifestyle
Opportunities to purchase brand-new Toronto condos below original market value are increasingly rare. This assignment stands out not only because of its pricing but also because of its location, layout, and long-term fundamentals.
The Queensway corridor continues to evolve into one of Toronto’s most dynamic urban districts, and Reina Condos sits squarely at its heart.
If you're serious about combining smart capital deployment with lifestyle and long-term appreciation, Reina Condos Distressed Assignment deserves immediate attention.
300 Richmond St W #300, Toronto, ON M5V 1X2
inquiries@Condoy.com
(416) 599-9599
We are independent realtors® with Home leader Realty Inc. Brokerage in Toronto. Our team specializes in pre-construction sales and through our developer relationships have access to PLATINUM SALES & TRUE UNIT ALLOCATION in advance of the general REALTOR® and the general public. We do not represent the builder directly.
