27 Milky Way Drive, Richmond Hill, ON
Observatory, Richmond Hill · MLS® N13557586
About this home
In short
- Welcome to one of the most extraordinary homes in prestigious Observatory Hill-a luxurious modern single-detached residence with 3700+ sf on an ultra-rare private...
- Step directly from the walkout basement onto your tranquil backyard oasis overlooking the ravine, where deer wander by almost daily, creating a peaceful retreat...
- Thanks to the unique pie-shaped lot, the rooftop offers remarkable privacy-a feature you simply won't find in another Toronto home.
- Luxury continues with heated floors in both the walkout basement and primary ensuite.
- Both the main floor powder room and primary ensuite feature smart toilets with heated seats.
Welcome to one of the most extraordinary homes in prestigious Observatory Hill-a luxurious modern single-detached residence with 3700+ sf on an ultra-rare private pie-shaped ravine lot. Step directly from the walkout basement onto your tranquil backyard oasis overlooking the ravine, where deer wander by almost daily, creating a peaceful retreat unlike anywhere else.What truly sets this home apart is its one-of-a-kind layout. Enjoy a spacious 500+ sq. ft. third-floor loft and an exceptionally rare 360+ sq. ft. private open-air rooftop terrace. Thanks to the unique pie-shaped lot, the rooftop offers remarkable privacy-a feature you simply won't find in another Toronto home.Premium kitchen upgrades include 48-inch built-in Sub-Zero side-by-side refrigerator, upgraded Wolf gas cooktop, and built-in Samsung microwave and oven stack with one-touch steam cooking.Luxury continues with heated floors in both the walkout basement and primary ensuite. Relax in the upgraded freestanding soaker tub while enjoying your favorite music through the built-in Bluetooth speaker integrated into the bathroom fan, creating your own spa-like retreat. Both the main floor powder room and primary ensuite feature smart toilets with heated seats.Custom designer-built display and storage shelving with integrated luxurious LED mood lightingenhances both the first and second floors. An unobstructed skylight extending from the third floor fills the entire staircase with natural light, making every level feel bright, warm, and inviting.The spectacular third-floor loft is truly a home within a home. Complete with a full wet bar, custom cabinetry, and a full 4-piece bathroom, it's the perfect space for entertaining or spending an entire cozy weekend watching Netflix with your loved ones.Book your private showing today and experience this truly one-of-a-kind home for yourself.
Key facts
- Property type
- Detached, 3-Storey
- MLS®
- N13557586
- Bedrooms
- 4
- Bathrooms
- 5 (1 half)
- Size
- 3500-5000 sq ft
- Lot
- 27.07 × 140.82 ft
- Cross streets
- Bayview Ave & 16th Ave
- Parking
- 2 garage · 4 parking (built-in)
- Driveway
- Private Double
- Basement
- Walk-Out, Separate Entrance
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick, Concrete
- Foundation
- Concrete
- Roof
- Flat
- Sewer
- Sewer
- Property tax
- $12,669 / 2025
- Days on market
- 98
- Listing brokerage
- CENTURY 21 MYPRO REALTY
Rooms
coffered ceiling(s) · 2 way fireplace · overlooks ravine
hardwood floor · wet bar · w/o to terrace
hardwood floor · b/i closet · overlooks ravine
sliding doors · centre island · overlooks ravine
hardwood floor · b/i closet · large window
walk-in closet(s) · 5 pc ensuite · overlooks ravine
pot lights · hardwood floor · overlooks ravine
walk-in closet(s) · 4 pc ensuite · large window
No automatic estimate is shown here: there is not a deep enough record of recent sales of homes like this one in this neighbourhood to support one.
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Nothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market.
Per square foot, these ask about $674/sqft; this home lists at $671/sqft. Size is part of the price story, not just the sticker.
The 5 closest active listings nearby.
See all comparable homesNeighbourhood & location
Observatory, Richmond Hill, ON
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Typical asking price of active listings of the same type, per area (outliers removed). Richmond Hill.
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Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of October 20, 2026); conventional rates run a little higher.
Mortgage amount $2,280,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $12,607
- Property tax
- $1,056
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $13,662
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $57,725
- Estimated closing costs
- $57,725
Plus your down payment of $570,000. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $756,391
- Principal paid down
- $278,574
- Interest paid
- $477,817
- Balance remaining
- $2,001,426
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
Income potential: the basement has a separate entrance, which often supports a rentable in-law or second suite. That can lift real rent well above the figure above and help carry the mortgage. Ask us about permitted use in this area.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of CENTURY 21 MYPRO REALTY. MLS®/PropTx.