The Ultimate Guide to Buying a Penthouse Apartment in Toronto: Buildings, Lifestyle, and Checklists
In the world of Toronto real estate, few properties are as coveted as the penthouse apartment. Whether you’re drawn to the sweeping skyline views, expansive layouts, or the cachet of living at the very top, a penthouse apartment in Toronto offers an unmatched lifestyle.
But not all penthouses are created equal.
In this guide, you’ll learn:
- The different types of penthouse buildings in Toronto
- Real examples (with addresses) of top luxury and affordable penthouses
- The pros and cons of penthouse living
- A complete checklist for buying a penthouse apartment in Toronto
Let’s dive into the sky-high lifestyle.
Buying a Penthouse Apartment in Toronto? Search active luxury MLS listings
Different Types of Condo Buildings Offering Penthouse Apartments in Toronto
When searching for a penthouse apartment Toronto, it’s important to understand the building types, because the experience (and the price) can vary drastically.
1. Luxury High-Rises
These skyscrapers feature penthouse units with ultra-modern finishes, private elevators, and full hotel-like amenities.
Examples:
- One Bloor East
Address: 1 Bloor St E
Features: Private pools, top-tier concierge, floor-to-ceiling glass walls with 270° views. - The St. Regis Residences
Address: 311 & 325 Bay St
Features: Five-star hotel services, fireplace suites, panoramic Financial District views.
2. Boutique Mid-Rises
Mid-rise luxury buildings with fewer units, offering more exclusivity and sometimes larger outdoor terraces.
Examples:
- 77 Charles West Residences
Address: 77 Charles St W
Features: Massive terraces, premium Yorkville address, full custom interiors. - Hill and Dale Residences
Address: 1027 Yonge St
Features: Customizable layouts, boutique feel, steps to Rosedale.
3. Converted Loft Buildings
Character-rich buildings with penthouse lofts that offer exposed brick, beams, and huge open spaces.
Examples:
- Toy Factory Lofts
Address: 43 Hanna Ave (Liberty Village)
Features: Authentic hard lofts, rooftop terraces, vintage-industrial design. - Broadview Lofts
Address: 68 Broadview Ave
Features: Warehouse conversion, large outdoor patios, river and city views.
4. Affordable Mid-Range Towers
Not all penthouses are $5M+ — some older condos or buildings just outside downtown offer penthouse suites for a fraction of the cost.
Examples:
- Harbour View Estates
Address: 5 Mariner Terrace
Features: Penthouse units under $1.5M, access to SuperClub amenities (pool, track, gym). - The Met Condos
Address: 21 Carlton St
Features: Older but spacious penthouses with downtown core access.
What to Expect from a Penthouse Apartment in Toronto
When you’re touring or shopping for a penthouse apartment Toronto, here’s what you can typically expect:
| Feature | Description |
|---|---|
| Bigger Square Footage | 1,200–5,000+ sq. ft. depending on the building. |
| Higher Ceilings | Often 10–12 feet, compared to 8–9 feet for regular units. |
| Exclusive Elevators | Private elevator access or minimal shared floors. |
| Premium Finishes | Integrated appliances, heated floors, custom cabinetry. |
| Outdoor Space | Private terraces or large balconies with skyline or lake views. |
| Amenities Access | Full access to pools, gyms, party rooms, and concierge services. |
Best Buildings for Penthouse Living in Toronto
Here’s a breakdown of where you’ll find the most luxurious and more affordable penthouse apartments:
Luxury Penthouse Buildings
- One Bloor East – Yorkville’s sky palace.
- The Ritz-Carlton Residences – 183 Wellington St W: Downtown luxury, hotel service perks.
- Four Seasons Private Residences – 50 Yorkville Ave: Canada’s ultimate address for prestige buyers.
More Affordable Penthouse Options
- CityPlace Condos – Such as – 15 Iceboat Terrace: Modern, lots of rental turnover = more deals.
- Distillery District Lofts – 33 Mill St: More character, more value, vibrant neighbourhood.
Pros and Cons of Living in a Penthouse Apartment in Toronto
Pros
- Unmatched Views: Lake Ontario, CN Tower, endless sunsets.
- Prestige: Ultimate lifestyle upgrade — few own this level of property.
- Privacy: Fewer neighbors, quieter living.
- Resale Potential: Penthouses historically outperform regular units in appreciation and desirability.
- Customization: Developers often allow bespoke customization during pre-construction.
Cons
- Higher Price Point: Expect to pay a premium, especially for prime views.
- Higher Maintenance Fees: Larger units = larger share of condo expenses.
- Elevator Reliance: If elevators fail, you’re 30+ floors up.
- Exposure to Elements: More wind, weather, and sometimes higher heating/cooling costs.
Checklist: What to Look For When Buying a Penthouse Apartment in Toronto
Before making an offer on a penthouse, use this smart buyer’s checklist:
View Orientation
- Lake-facing? City skyline? Avoid future obstructions from upcoming developments.
Outdoor Space
- Balcony size, terrace access, outdoor plumbing (for gardens or hot tubs)?
Ceiling Height
- Confirm minimum 10 ft ceilings for a true penthouse feel.
Elevator Access
- Private elevators or semi-private floor landings are a big bonus.
Parking Spaces
- How many spots? Side-by-side or tandem? Underground or above-ground?
Amenities Access
- Check if penthouse residents have exclusive access to upgraded amenities.
Noise and Wind Levels
- Higher floors = more exposure. Visit on a windy day.
Heating and Cooling Systems
- Some penthouses have individual HVAC systems (better) vs. centralized condo heating.
Customization Options
- Pre-construction? Ask if you can pick finishes or alter floor plans.
Condo Corporation Financials
- Review status certificate — look for healthy reserve funds and low legal issues.
Future Developments Nearby
- Ensure no new towers will block your million-dollar view.
Resale Value Trends
- Have penthouses in the building appreciated historically? Are there recent sales to benchmark?
Final Thoughts: Is a Penthouse Apartment in Toronto Worth It in 2025?
For many, owning a penthouse apartment Toronto is the ultimate real estate achievement. If you want:
- Skyline views every morning
- Resort-style amenities
- A rare asset that holds long-term value
- Privacy without giving up downtown access
Then yes — a Toronto penthouse might be one of the best lifestyle and investment moves you can make this year.
But remember: luxury doesn’t mean automatic value.
Smart penthouse buyers look at the building, the location, the view, and the future potential — not just the granite countertops.
Use the checklist above, tour different options, and always work with an agent who understands Toronto’s high-end condo market intimately.
Call us at 416.457.6088 or email [email protected] with any questions about your home buying journey.
Learn more about the different property types in Toronto. Check out our guides:
The Ultimate Guide to Semi Detached Homes Toronto
The Ultimate Guide to the Condo Market Toronto
The Ultimate Guide to Triplexes For Sale Toronto
