Toronto parking spot priced at an astonishing $175K might be a new record

Living in Toronto is expensive enough, but parking costs are also on another level in the city.

Parking spots in new condo buildings have hit stratospheric heights in recent years, and it is no longer uncommon to find these designated slots of painted asphalt sold for prices that exceed the $100,000 mark.

One fancy Yorkville condo tower could hold the very specific distinction of being home to the single-most expensive parking spot ever put up for sale in Toronto, priced at a completely ridiculous $175,000.

The listing for space 305 at 18 Yorkville Avenue has sat awaiting a buyer since mid-2022, and it’s not too hard to fathom why at a price like that.

A further caveat is the fact that the buyer must already own property in the condo tower to qualify for this (and I'm using this word generously) deal.

Assuming you have a condo in the building and the cash for this pricey space, you will still have to fork over $55.41 monthly for maintenance fees.

Toronto parking space listed for a staggering $120K https://t.co/gGE9o45rKM #Toronto #Parking

— blogTO (@blogTO) August 19, 2021

At the start of 2022, the three most expensive parking spots in Toronto were all similarly located in condominium towers.

One year ago, the most expensive spot out there was a $125,000 spot at 197 Yonge, and almost a year later, it's still on the market at a more affordable $120K.

The two runners-up for the top three last year, at 89 McGill Street and 49 East Liberty Street, were both listed at $100K, and, remarkably, appear to have both sold.

A parking space in downtown Toronto just sold for $123K https://t.co/h0fKRR1VsZ #Toronto #Parking

— blogTO (@blogTO) January 21, 2021

It all seems absurd how just ten years ago, you could find a downtown condo priced in the mid-$200,000s. A decade later, residents of million-dollar-plus condos are expected to fork over another $175K just for a place to park.