Two Toronto parking spots are on the market for $118K and $120K

Aug 23 2021, 10:27 am

Finding a parking spot in Toronto can be tricky, and if you’re buying one, it can also be very, very expensive.

Most parking spots in Toronto go for tens of thousands of dollars, which means they’re often worth more than the car that’s parked in them. And some spots are priced so high — often well over $100,000 — that you could buy a full home in another city with the same amount of money. In fact, just last year, a spot at the Ritz Carlton sold for a whopping $122,900, marking the most expensive parking spot sale in Toronto history.

Right now, two parking spaces are up for sale in Toronto that come close to that record-setting price but don’t quite surpass it. Interestingly, they’re both located inside Massey Tower at 197 Yonge Street.

One of the parking spots is listed for $118,000, while the other is priced slightly higher at $120,000. Both came on the market within the last month, so it will be interesting to see how the varying listing prices affect each other in terms of the eventual sale price.

Being right downtown on Yonge, they’re close to the Eaton Centre, Dundas Square, and the Financial District, so it makes sense why they’re being sold at a premium.

According to one of the listings, the Massey Tower also has an automated Boomerang parking system, which means a robotic valet brings your car right to you — another high-end feature that would drive up the price.

Although they may not be the most expensive in Toronto history, they would still be eye-pop-worthy sales if sold for their current asking prices.

Laura HanrahanLaura Hanrahan

+ Real Estate
+ Urbanized
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