Toronto's most expensive rental will cost you $25,000 per month (PHOTOS)

When money is no object and even the most expensive rental is within your reach, you can find yourself a pretty nice condo to live in in Toronto.

One unit inside 8 Colborne Street, near the intersection of King and Yonge, that’s currently on the market has just about every luxury feature you’d want in a high-end condo, and it can all be yours for just $25,000 per month.

Realty Partners Corp.

Realty Partners Corp.

Although the idea of paying tens of thousands of dollars every single month to live in the city may make most Torontonians’ jaws drop, it’s not the only unit priced like this — there are currently two others with the same asking price.

The shockingly expensive $25,000 price tag begins to make a little more sense when you put this four-bedroom, 3,000-square-foot penthouse into the context of the current luxury rental market in Toronto.

Realty Partners Corp.

“In the last two years, there have only been seven units on the market of this calibre and price,” said Strata.ca agent Jayde Cormier. “Low inventory means demand by renters. The average cost per square foot in Toronto is $3.99. Based on 3,000 square feet, it comes to $11,970. That’s the average. So, the other $13,000 speaks for what 8 Colborne has to offer that the average condo doesn’t.”

Realty Partners Corp.

Realty Partners Corp.

The available unit is undeniably impressive, with multiple storeys, floor-to-ceiling windows, and a private 700-square-foot terrace featuring CN tower views and its own personal hot tub. On top of that, there are four bathrooms, a library, a solarium, and a sizeable kitchen with a glass-front fridge.

“When you’re looking to rent something in the ultra luxury market, you’re really looking for what sets it apart and you’re looking for quality,” Cormier said. “This two-storey unit delivers on quality and offers some beautiful unique features.”

Realty Partners Corp.

Realty Partners Corp.

Because the condo building is connected to the Executive Hotel Cosmopolitan Toronto, residents have access to all of the hotel’s amenities, including room service.

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Realty Partners Corp.

Realty Partners Corp.

But as to be expected, finding someone to rent a condo at this high of a price point isn’t particularly easy.

“At $25,000 per month, that’s $300,000/year just for rent,” Cormier said. “So a suitor for a rental like this is to likely come from the ranks of CEOs, retirees, celebrities, athletes, etc. A typical luxury condo could fetch multiple offers in a week, but a unit like this is likely to sit for several months. Right now in Toronto units at this price are sitting for 219 days, on average.”