$5 million condos are rarefied real estate territory, where luxury is a given. These units are concentrated in areas like Yorkville, King West, and the waterfront, and often offer stunning views and outdoor areas. This is the pinnacle of urban living for those who can afford it.

This is what a $5 million condo looks like in Toronto.

$5,250,000 in the heart of Yorkville
This multi-level unit on Hazelton Avenue is spread across 2,700 square feet with one bedroom and a den. That makes it feel ultra spacious, particularly in the master bedroom. It's chock full of luxury features including a private elevator, wine cellar, and tree-enclosed terrace. Maintenance fees are $2,700 a month.

$4,895,000 on the waterfront
This unit is located in one of the first wave condos on Queens Quay. That brings massive maintenance fees ($4,136.26 a month), but stunning views of the lake. The outdoor space is its main selling feature, but the interior also been heavily updated and modernized with luxury appliances while the hardwood floors remain a nice touch.

$5,199,000 in north Yorkville
Family living is possible in a downtown condo when you have three bedrooms and five bathrooms to work with. This north Yorkville condo at 77 Avenue Rd. is decked out with 12 foot ceilings, a 1,7000 foot terrace, and amenities like a built-in Bang & Olufsen home entertainment system. Maintenance fees are $4,298.12 a month.

$5,475,000 on King West
You can be the king of King West at this Theatre Park condo, which is spread across 3,270 square feet and features and additional 2,000 square feet of outdoor space that wraps around the unit. Along with features like a gas fireplace and a Scavolini kitchen, there's also an outdoor hot tub with a gorgeous view of the skyline. Maintenance fees are a modest $1,934.54 a month.

$5,999,999 at Portland and Wellington
This one is huge. With three bedrooms and four bathrooms spread across 5,065 square feet, it's about as big as downtown condos come in this price range. But you'd want to spend as much time as possible outdoors if you bought this place. Not only is there a private infinity pool, but there's a full exterior kitchen. Maintenance fees are $3,045.83 a month.

Would you buy any of these condos if you had the dough? Let us know in the comments.