parking toronto

These are the top three most expensive parking spaces in Toronto right now

For most downtown Toronto dwellers, the car is much more a luxury than a necessity. Sure, you might have to move a couch on the subway once in a while, but you can probably manage your day-to-day without investing in a car.

But if you just can't live without this luxury, then be prepared to cough up some accordingly luxury prices to own a place to store that car, with these painted lines on asphalt now costing some buyers well over $100,000.

It turns out there are three such spots currently breaking the six-figure mark in Toronto, and a look at the top three most expensive parking spots listed for sale on offers a window into the madness unfolding in condo parking garages across the city.

197 Yonge Street - $125,000

A regular on lists of the most expensive parking spots in the city, 197 Yonge, known as the Massey Tower, tops the list going into 2022, with a space listed for a steep $125,000. And that doesn't even factor in the $211 monthly maintenance fee.

It was among three buildings with a parking spot cracking the $100,000 mark in 2020, and if that wasn't enough, the building had a space listed for a sky-high $120,000 in 2021.

If you're wondering why this slim condo tower has been netting such high prices for its parking spaces, it's more than just the building's central location steps from Queen subway station.

The Massey Tower's constrained site required a complex automated parking garage complete with car elevators, stacking, and turntable systems, hidden behind the tower's sculptural Yonge Street frontage.

89 McGill Street - $100,000

This condo tower at the corner of Church and McGill has a space listed for a cool $100,000, and like 197 Yonge, Alter on Church at 89 McGill Street is a relatively new condo building.

And while this isn't quite the fancy high-tech garage seen over at Massey Tower, this spot comes with an electric charging station and a much more reasonable monthly maintenance fee of just under $87.

49 East Liberty Street - $100,000

The Liberty Central condo complex at 49 East Liberty Street in the King West Village area seems like a pretty unexpected place for a parking space with that many zeroes at the end.

The area may be less central, and the condo towers above less glitzy than the other spots on this list, but this space comes with an added storage locker and a dirt-cheap monthly fee of just over $30.

Lead photo by

Jack Landau

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