What are the Most Luxurious Condos in Toronto?

As the Toronto skyline fills with more and more lofty condos, we are also seeing a few newer developments that are occurring in some of the tonier neighbourhoods which are a lower-rise design, and articulated with a mix of materials that blend in more with a neighbourhood rather than the ever-dominant steel and glass.

Over the coming few years, there will be some really interesting new developments, which I am following, and will certainly write about as their presence becomes more noticeable. It’s very exciting to see developers taking an interest in consulting with some of the worlds leading architects to create very interesting monuments to embellish our city and also give potential buyers an opportunity to show their individuality by owning a piece of one of these gems.

What is Luxury in the Toronto Condo Market?

Luxury comes in many forms and is not necessarily dictated by price… However, there is always curiosity about what the most luxurious condos are in our city by the common terminology, which is certainly expressed in dollars and size.

Personally, I see luxury in location, views, and exclusivity. Boutique buildings exemplify this, those being ones that have a very small number of units altogether, and just few on each floor, as well. To me, a building loses it’s lustre right away when one has to queue up for an elevator… then only to get up to one’s 60th floor unit and realize that that special bottle of wine to end the week was forgotten down in the car, requiring another couple of elevator trips, complete with the waiting time repeated twice…

I also think that being dependent on a car to get everywhere becomes tedious, and it’s definitely a much nicer situation to be able to also depend on one’s own feet to get somewhere or to simply jump on a subway train for a quick ride to a movie or the office. It’s nice to be able to just walk a short distance to get some groceries in a well-appointed food store or get out for an afternoon of shopping, or to stroll to meet friends at a restaurant.

Luxury can be subjective. But what role does luxury play in today’s condo market? This article by architect, Ema Bakalova perfectly encapsulates how I feel about the term. Read her words here.

Best Luxury Condo Buildings in Toronto

I thought to pick what I thought were Toronto’s current five most luxurious condominium buildings, and there were so many to consider. There are at least a hundred addresses that come to mind when I think of luxurious condos. As I was narrowing down my choices, there were so many considerations that came up that influenced which ones would warrant being the cream of the crop. Just for reference, it’s 2024, and I have assimilated information from past sales in other years and attempted to extrapolate them to today’s values, based on property assessments, changing market values and actual sales. Market conditions, currently, have been somewhat strained, due to high interest rates, and even well-monied buyers who done’t need to worry about money are still interested in protecting their assets, thus proceed cautiously when spending large amounts.

1. The Four Seasons Residences

In a separate article, I briefly discussed the Four Seasons Residences in Yorkville… The hotel chain, started in Toronto in the early 1960s by Isadore Sharp, grew to be the gold standard in luxurious accommodations around the world, and its name became synonymous with bespoke luxury.

Have you read my condo guide for the Four Seasons Residences in Yorkville? You can see the full article right here.

More recently, they partnered with developers in establishing condominium residences in concert with some of their hotel properties, giving access to their superlative hotel amenities to the owners of the residences. It comes at a cost, of course, which is reflected in the monthly maintenance fees…

But how high are they? First of all, these amenities include 24-hour concierge, doorman and valet parking, private lobby and elevators for the residences, an indoor pool with whirlpool, a fitness centre with yoga studio, access to spa services, access to room service and housekeeping services, a business centre, meeting and ballroom facilities, and worldwide incentives to global Four Seasons Properties (don’t I sound like an advert?). All of this, for only $1.50 to $1.78/ft.², currently, depending on which of the two towers you’re in. This cost also includes your water, heat and air conditioning.

The one and only penthouse of the Four Seasons Residences, at the very summit of this 55-storey building, constructed in 2012, is over 8300 ft.² plus terraces adding almost 850 ft.² more. With direct elevator access into the suite (as with all units in the tower), so one doesn’t have to walk through a corridor to get into this home in the sky, one arrives into the grandeur of views of the city in every direction.

According to the property records, this unit sold in 2014 for approximately $26 million. The property taxes are $161,000 per year, and you will see in this floor plan, it’s quite a pad!

The Four Seasons Residences consist of two towers, and each is set up as a separate condominium corporation. They both have access to the same amenities, but have different condo boards and, as a result, different condo fees. In the taller tower, where there are a maximum of four units per floor, there have been several sales between 10 and $15 million in recent years.

In exploring the listings, there are many that have embraced the contemporary architecture of the building and take that through in their interior design, showcasing the architecture and clean design. I’ve seen others with what I would consider rather ghastly and gaudy embellishments. They have taken a lot longer to sell, sometimes years.

These get quickly dismissed in many peoples’ decision-making processes when selecting potential properties to purchase, the asking prices decrease, then someone finally says “I can rip all of this out and make it great again… but I don’t want to have to pay for all of these hideous embellishments. It looks like a prince from a far away mystical land has lived here with his harem fanning him and feeding him with grapes all day”.

It’s actually mind-boggling to what extent people will go to, to introduce what they perceives opulence. It’s actually terrifying. Currently, the units in the Four Seasons Residences have been selling for between $1,900 and $2,850/ft.², however, something like the penthouse would likely sell higher, based on the exclusivity and rare size. It could take a while to sell since, with a property assessment of $24 million, it would probably be listed at more like $40 million. It includes four parking spots, and views should be relatively unencumbered for many years to come, due to the way it’s situated on the block.

Are you curious about condo living in Toronto? I have a few more articles that might pique your interest next:

2. 155 Cumberland Street

Down the way a little, also in Yorkville, 155 Cumberland St. is a fascinating little development. It was constructed on top of a mid-century office building on Bloor Street upon which a 10,000 ft.² penthouse was built in the 1960s, designed by the New York architect, Philip Johnson.

The Bronfmans owned the building, and the owner of the penthouse, naturally, knew them well and was influenced by some of architecture that was shaping some of their other buildings. A door off the Bloor Street lobby led to the private elevator which led to the contemporary penthouse, two floors high, clad and travertine.

There was a small fountain inside that greeted visitors and a generous bronze staircase led to the second floor. It was a fascinating residence! Skip ahead almost a half-century and this penthouse was encapsulated within the new development that was built above it, comprising 15 exclusive and spectacular condominium units, ranging from about 1800 ft.² to the ultimate 10,200 ft.² unit encompassing the original (but rebuilt) 1960s 2-level penthouse, which added another 5000 ft.² of outdoor terraces.

These condominiums are almost certain to enjoy unencumbered views for their lifetimes, and are anomalies, being perched atop another building. The list of amenities is rather small, but one is able to enjoy barbecuing or hot tubbing on one’s terrace, taking in the city views in a private outdoor space area larger than many peoples’ gardens. 11-foot ceilings and superlative finishes kit these suites out perfectly. I include a floor plan of one such unit as an example. The assessments in this building range from around $3.5 – 14.5 million, currently, therefore the selling prices should be much higher. The largest unit was listed at $28,750,000 back in 2018, but had failed to sell.

In fact, it had been offered for quite some time. Currently, a 6,644 square foot unit (with and additional 990 ft.² of outdoor terraces and 4 parking spots) has just entered the market at $29,000,000 with a colleague of mine. That’s over $4,300/ft.², and I’m not going to argue that asking price, because, at this very time, there is not another home on the market in this city that is anything like this one. Regardless, units seldom change hands in this building.

The current monthly fees are approximately just over $1.50 per square foot, and, despite a dearth of amenities, the building does have a concierge, security guard, and visitor parking, and water is included in the fee (so go on, fill up that hot tub!). Based on previous sales, the values of these units should be in the range of $2200-$2500/ft.² in today’s market. The location, along the Mink Mile (actually 2,000 feet) of Bloor Street, is coveted by many, but what I think is really great is the easy access to two subway lines within steps of the front door. It sits in a beautiful part of the city, nestled between the financial core and the beautiful older leafy neighbourhoods of the Annex, Yorkville and Summerhill.

What does Life of Luxury really mean? Click here to learn more about finding your life of luxury today.

3. Hazelton Hotel and Residences

Now, combining boutique and hotel amenities, also in Yorkville, we find the Hazelton Hotel and residences above, at 118 Yorkville Ave. Built in 2008, this handsome modern building with brick and limestone facing sits on a prestigious corner at Yorkville and Hazelton Avenue.

The first few floors house a wonderful restaurant, the hotel rooms, and amenities for both the hotel and the 16 residences above. Talk about posh, I think this building could be shown next to that word as part of the definition in the Oxford dictionary.

Like some of the other great luxury buildings, its design is contemporary, but some of the models have been fitted out by their owners in indescribable horror. Luckily, most of them show beautifully. There is currently one unit on the market that has been for sale on and off for the last decade, and in examining the interior, it’s not difficult to imagine why.

The design is far too overpowering for most peoples’ stomachs. However, at a current asking price of $16 million, it is not out of line with what other units have sold for in the building in past years. Not often do these units change hands and the penthouse, which is, again, one of the most sensational ones in the city, last sold on MLS for over $10 million in 2015.

That penthouse has views in all four directions and crowns the top of the building beautifully. Depending on what source one looks at, it’s either 8100 ft.² or 7600 ft.² plus another 5800 ft.² of terraces surrounding it, and commands a 360° view over the city.

It sits in an enviable location where its view will likely never get blocked by new construction. This unit, as can be seen from the floor plan, has windows all the way around it, every room with window walls and/or French doors sitting under an 11’ ceiling. The condo fee for this unit, which includes one’s water usage as well as access to all of the hotel amenities (concierge, gym, spa, fitness facility, and indoor pool), are around $17,500 months. But hey, with three elevators giving private access directly into your suite, five fireplaces, permission to use barbecues on your terrace and 10 parking spots… who can argue that bargain?

Are you considering downsizing to a luxury condo? Here are a few articles to help you on your journey:

Suites in this building range in size from approximately 2815 ft.² all the way up to that palatial penthouse. They all have terraces or balconies, condo fees sit currently at approximately $2.25/ft.², and one can expect to pay above $2,000/ft.² to buy a condo here. It’s kind of worth it.

4. Hill and Dale Residences

Moving over to Rosedale and Summerhill, one of my favourite parts of the city, where the high street has a lower-key neighbourhood vibe while remaining very high-end, we find another small development at 1 Roxborough St. East, called Hill and Dale Residences.

I love that the architecture and presence of this building isn’t ostentatious, while presenting a very sleek and elegant glass façade to the corner it sits on. It’s not pretentious, nor are the units. They are comfortably sized from around 1,000 ft.² to the 4,000 ft.² penthouse, and well-planned with lots of windows, generous terraces and exquisite finishes.

There have been very few that have changed hands since it was built in 2019, and I would expect that to continue to be the case. It’s a special building where one realizes what a prize they’ve bought into. Condo fees currently sit around $0.75/ft.², but I would imagine that will rise over coming years in order to build up a healthy reserve fund for the building, which comprises only 14 units.

Toronto has a rich and distinct architectural history. Read more about it right here.

Though this isn’t a condominium full of amenities, it has a concierge, security guard, bike storage, plus one is permitted to use barbecues on one’s terraces. Air-conditioning and water are included in the fees, and I would guesstimate that any resales that came on the market today would be priced around $2,500/ft.².

The penthouse, which is one of three units on the 6th floor, could be substantially higher, I would think, with its three large terraces (one featuring a lap pool), and 11 foot ceilings soaring over its approximate 4,000 ft.² interior area. That unit sold in 2021 for a little under $12 million, which would put it at the top of per-square-foot condo prices in the city, and, simply due to its uniqueness, I would say that it will see a continued rise value. I love this building simply because of its location, but also I also find the level of execution to be far beyond that of most other developments in the city. The other 6th floor units were planned with hot tubs on their terraces, too, so these are certainly special rarities.

5. 500 Wellington Street West

Finally, my odd duck choice on this list is located further downtown, in the Entertainment District. 500 Wellington St. W. isn’t an address on many people’s radars; it’s a 10-storey boutique building featuring 16 large units that have sprawling outdoor terraces and no more than 2 units per floor.

The stretch of Wellington Street West that it sits on has been quite special for a long time, and used to be comprised of a mix of 100 year-old small industrial buildings and intimate brick office buildings with post and beam interiors spaces. It had a feel like no other street in Toronto, but has been substantially developed with lower-rise condos and other buildings over recent years.

At one end of this quarter-mile strip is Clarence Square park and at the other is Victoria Memorial Square. Almost across the street, the Well has just opened up, featuring a unique covered outdoor shopping mall. The vibe and amenities of the neighbourhood are very different from Yorkville, Rosedale and Summerhill, but still appealing to a wide range of buyers from young financiers to hip established executives and families.

The units range from 2400 ft.² to just under 6000 ft.², and all are long unconventional floor plans that flow nicely. The building was designed by Core Architects, a group of designers that were in architectural school with me back in the good old days when nearby Queen Street West was just becoming cool and the Entertainment District was still full of old warehouse buildings possessing unrealized potential.

I have fond memories of living in a loft on Adelaide St. W. in an industrial building with unusual businesses populating the different floors and a few other illegally-occupied residential suites. The vibe was completely different back then, and we felt like pioneers.

The area has now become rather sophisticated, as is exemplified by this building, built by the prolific developer, Freed developments. In fact, the penthouse that’s currently for sale for just under $15 million, belongs to the eponymous developer himself.

Are you thinking about making a move in the near future? Learn more about my unique approach to buying and selling right here:

A 6,000 ft.² below it unit sacrifices exterior area and has only 975 ft.² of that, whereas this penthouse, shown in the floor plan, is only 4,200 ft.² plus an extra 2200 ft.² of exterior area. The maintenance fees are not over the top, and the finishes are of a pretty high standard. This particular penthouse features a wonderful Scavolini kitchen with tons of space to work in and to surround yourself with 100 of your closest lounge lizard friends, a wood-burning fireplace and about 160’ of floor-to-ceiling windows to remind you of where you are.

The pool is a total stunner with a thick glass wall that lends the beautiful blue colour of the water to the terrace area. There’s also a hot tub and a truly iconic view of the city. This has got to be one of the most spectacular terraces in the city. There are no amazing building amenities, but the fees are quite low. Currently they sit around $0.90/ft.² and one could expect to pay a reasonable $1,200 – $1,500/ft.² to own a unit in the building. The penthouse, of course, comes at a premium, as it is currently on the market asking $3,500/ft.².

Living here, one is a short cycle to the waterfront, or a pleasant walk to the business district, Trinity Bellwood Park, and all sorts of downtown fun. It’s definitely an alternative in the super-luxe condo market, but I find it compelling in many ways, as it is remarkably unique.

You can learn more about Toronto’s most coveted communities with my guides right here.

The Future of Luxury Condos in Toronto

I’m pleased to see several upcoming developments that are embracing individuality as a trademark of luxury, and I think that what we’ll see in the next 5 years will introduce to the Toronto buyer some cultural design choices that will really open one’s mind to creative and wonderful multiple-unit living concepts.

Some of the best that are just currently on the market or coming soon are 7 Dale, a small development in Rosedale facing the ravine; King Toronto, in the Entertainment District and comprising a couple of “mountains” of stacked residential units designed by Danish architects, BIG; the Essery, which is housed in a wonderful brick heritage block along Niagara St.; and 60 Scollard, a Norman Foster-designed building just north of the Four Seasons with some intriguing suite layouts.

All of these have interesting floor plans that will probably attract discerning buyers and will sell out quickly. I think uniqueness is the true luxury, not ostentation.

I have more information, and a database of floor plans on over 300 condominium buildings that I have amassed over the years, and am happy to discuss and help with any decision making process to navigate the fascinating condo market in Toronto.

There’s so much greatness that overshadows the less fortunately executed developments that have clouded some people’s impressions of condos. They actually are remarkable places to live.

Are you looking for Toronto real estate advice? Reach out directly by calling 416-824-1242, emailing robert@lifeofluxury.ca, or filling out the form on this page.

Guiding Your Experience

Learn more about how I work with you to create unique strategies that help make your dream lifestyle your actual lifestyle.

How I Help You

What are the Most Luxurious Condos in Toronto?