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We just listed an assignment at SkyTower, Pinnacle One Yonge VIEW FULL LISTING HERE — and the gap between the original purchase price and today's asking price is one of the largest we've seen on an active listing this year.

The Building

SkyTower sits at 1 Yonge Street, right where the city meets the waterfront, and it now holds the title of Canada's tallest residential building at 106 storeys and 351.4 metres. Hariri Pontarini Architects designed the tower as the centrepiece of the larger Pinnacle One Yonge master-planned community, with occupancy scheduled for fall 2026.

The building is split into four residential tiers — Signature, Landmark, Vista, and SkyVilla — each with floor-to-ceiling windows and finishes built around the lake and skyline views. It also connects directly into the PATH system, which puts residents a few minutes' walk from Union Station and the Financial District without ever stepping outside.

Amenities run over 80,000 square feet and include a Le Méridien hotel across the first ten floors, a 106th-floor restaurant with 360-degree views, a rooftop pool and hot tub, a full fitness centre and yoga studio, co-working space, private guest suites, a kids' zone, and outdoor terrace and BBQ areas. For a deeper look at the building and its unit collections, our sister site oneyongeskytower.com covers the pre-construction side of the project in more detail.

The Unit

• Size: 655 sq ft

• Layout: 1 bedroom, 1 bathroom, no den

• Developer: Pinnacle International

• Listing price: $655,000

• Original purchase price: $929,900

That's a $274,900 difference between what the original buyer paid and what this unit is listed for today — close to 30% below the original contract price. Assignment pricing like this usually comes down to a combination of deposits already paid, closing timeline, and how motivated the original purchaser is to move on before occupancy. We're not publishing exact deposit and profit figures here since they shift unit-to-unit and deal-to-deal — reach out to our team directly for the full breakdown on this one.

Why Assignment Pricing Can Move This Much

If a price gap like this looks surprising, it's worth understanding how assignment sales actually work. Because most developer agreements restrict public marketing until the building's own sales program wraps up, assignments generally can't be listed on MLS the way a resale would be — which limits exposure and can affect pricing more than the unit itself does.

Every assignment also needs builder consent before it can close, so the price you see reflects not just the unit and the market, but the assignor's timeline and what they need to walk away with once consent, legal fees, and any assignment fee charged by the builder are factored in.

Is This the Right Fit for You?

A 655 sq ft one-bedroom at Canada's tallest residential address suits a fairly specific buyer — someone who wants downtown waterfront living with hotel-level amenities and doesn't need a second bedroom or den. If that's you, the combination of a near-$275,000 discount off original price and a fall 2026 occupancy window is worth a closer look before it moves.

Interested in this unit or want the full financial picture — deposits paid, additional deposits required, and estimated closing costs? Contact our assignment specialist directly:

Carlos Gonzalez carlos@remaxpluscity.com 416-890-1240

Or browse our full inventory of active condo assignment listings across the GTA.

Listing details are current as of publish date and subject to change. Confirm price, availability, and deposit/closing figures directly with our team before making any decisions.

If you're saving for a first home in Toronto and haven't opened an FHSA yet, you're likely leaving real tax savings on the table. Here's how the account actually works, and how to use it properly alongside the rest of your down payment strategy.

What the FHSA Actually Does

The First Home Savings Account combines the best features of an RRSP and a TFSA: contributions are tax-deductible (like an RRSP), and qualifying withdrawals — including growth on your investments — are completely tax-free (like a TFSA). You can contribute up to $8,000 per year, up to a lifetime maximum of $40,000, and unused contribution room carries forward.

Why This Matters More Than It Might Sound

You get the deduction now. Contributing to an FHSA reduces your taxable income the same way an RRSP contribution does — a real, immediate tax benefit while you're saving.

You keep the growth tax-free. Unlike an RRSP, where withdrawals (even for a home purchase under the Home Buyers' Plan) are eventually taxed if not repaid on schedule, a qualifying FHSA withdrawal — contributions and any investment growth — comes out completely tax-free. You genuinely don't pay tax on either end.

You don't have to repay it. The RRSP Home Buyers' Plan requires you to repay what you withdrew over 15 years, or face it being added back to your taxable income. The FHSA has no repayment requirement at all.

How to Actually Use It Alongside Your Other Savings

The FHSA and the RRSP Home Buyers' Plan can both be used toward the same home purchase — they're not mutually exclusive. A common strategy:

• Maximize your FHSA contributions first, given the combined deduction-plus-tax-free-withdrawal benefit is stronger than the Home Buyers' Plan alone.

• Use RRSP Home Buyers' Plan withdrawals (up to the current limit) as an additional source of down payment funds, understanding you'll need to repay that portion over time.

• Layer in a TFSA for any additional savings beyond what fits in your FHSA contribution room.

Who Actually Qualifies

To open an FHSA, you generally need to be a Canadian resident, at least 18 years old, and a first-time home buyer — meaning you (or your spouse) haven't owned a home you lived in during the current year or the four preceding calendar years. This "four year" rule is worth understanding carefully if you owned a home years ago but haven't in a while — you may still qualify.

What Counts as a Qualifying Withdrawal

To withdraw tax-free, you need a written agreement to buy or build a qualifying home, and you generally need to use the funds within a specific window and actually move into the home as your principal residence within a year of purchase or completion. If your plans change and you don't end up buying, you can transfer FHSA funds to an RRSP or RRIF without immediate tax consequences, rather than losing the benefit entirely.

How This Fits Into Your Total Toronto Closing Cost Picture

Your FHSA and Home Buyers' Plan funds address your down payment — but remember this is separate from other closing costs you'll need to budget for:

• Land Transfer Tax — use our free calculator to see your exact number, including whether the first-time buyer rebate applies to you.

• CMHC mortgage default insurance, if your down payment is under 20% — our calculator breaks this down.

• Legal fees, inspection costs, and moving expenses — budget roughly an additional 3-4% of purchase price beyond your down payment itself.

The Bottom Line

The FHSA is genuinely one of the most powerful tools available to first-time Toronto buyers right now — tax-deductible in, tax-free out, no repayment requirement. If you're saving toward a purchase and haven't opened one, it's worth doing before your next contribution room resets.

Want to run your full numbers — FHSA, Home Buyers' Plan, Land Transfer Tax rebate, and closing costs — before you start house hunting? Contact our team for a complete first-time buyer breakdown.

This article is for general informational purposes and is not financial or tax advice. Consult a financial advisor or accountant for guidance specific to your situation.