3507-2045 Lake Shore Boulevard, Toronto, ON
Mimico, Toronto · MLS® W13820704
About this home
In short
- Welcome to award-winning Palace Pier in the heart of Humber Bay Shores.
- Situated high above the waterfront on the 35th floor, this rarely available, exceptionally spacious 3,257 sf residence captures breathtaking panoramic views of Lake...
- This extraordinary suite showcases a massive combined living and dining room with marble floors, a striking stone water feature, andwalls of windows & an enclosed...
- Set on nine acres of land, Palace Pier is renowned for its state of the art amenities, including 24-hour concierge and security, valet parking, a complimentary...
- Steps to waterfront trails, parks, marinas, restaurants and cafes, with easy access to downtown Toronto, TTC and major highways.
Welcome to award-winning Palace Pier in the heart of Humber Bay Shores! Situated high above the waterfront on the 35th floor, this rarely available, exceptionally spacious 3,257 sf residence captures breathtaking panoramic views of Lake Ontario and the Toronto skyline through expansive, floor-to-ceiling windows in every principal room. This extraordinary suite showcases a massive combined living and dining room with marble floors, a striking stone water feature, andwalls of windows & an enclosed balcony overlooking the lake, a family-sized kitchen with white cabinetry and centre island, a coveted family room with built-ins and sweeping, unobstructed waterfront views, three generous bedrooms including a refined primary retreat with wall-to-wall windows framing the lake, an oversized walk-in closet, a private enclosed balcony and a 4-piece ensuite, a dedicated office with lake views and built-in bookshelves, a second full bathroom, a convenient powder room, ensuite laundry and multiple storage closets. Well maintained and comfortable to enjoy as it is, this suite also offers the opportunity to renovate and personalize to your taste. Two parking spaces and one locker included. Set on nine acres of land, Palace Pier is renowned for its state of the art amenities, including 24-hour concierge and security, valet parking, a complimentary private shuttle to Union Station and Sherway Gardens, indoor saltwater pool, hot tub, sauna, fitness and yoga studios, tennis and squash courts, golf simulator, putting green, rooftop entertaining space, party room, billiards room, guest suites and more! All-inclusive maintenance fees add to the convenience of waterfront living at Palace Pier. Steps to waterfront trails, parks, marinas, restaurants and cafes, with easy access to downtown Toronto, TTC and major highways. A distinctive waterfront residence offering impressive proportions, panoramic vistas and resort-style amenities in one of Toronto's most recognized condo residences.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- W13820704
- Bedrooms
- 3+1 (4 total)
- Bathrooms
- 3 (1 half)
- Size
- 3250-3499 sq ft
- Cross streets
- East of Park Lawn, on Lake Shore Blvd W
- Parking
- 2 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $3,803/mo
- Exposure
- South
- Property tax
- $8,034 / 2026
- Days on market
- 23
- Listing brokerage
- RE/MAX PROFESSIONALS INC.
Rooms
combined w/dining · window floor to ceiling · overlook water
b/i shelves · overlook water · broadloom
window floor to ceiling · overlook water · broadloom
laundry sink · b/i shelves · vinyl floor
double closet · window floor to ceiling · overlook water
combined w/living · b/i shelves · window floor to ceiling
tile floor · double closet · 2 pc bath
4 pc ensuite · walk-in closet(s) · overlook water
window floor to ceiling · b/i shelves · overlook water
tile floor · centre island · double sink
Listed at $1,788,000. Going by how homes in Mimico have actually closed against their asking prices (about 97%, 110 local closings in 90 days), the likely sale price is near $1.73M, if it sells. A realistic range is $1.63M to $1.88M.
Independent value check: $1.86M. Without looking at the asking price, our model values the home itself about 4% above the ask (homes like it typically land between $1.73M and $1.95M).
Why $1.86M. The typical condo sold in Mimico over the past year went for about $603K (484 sales). What sets this one apart:
- ▲ Raises it stronglyIt is 3,250 to 3,499 sq ft; the typical home sold here is 700 to 799.
- ▲ Raises it stronglyIts tax bill, which follows the city's own assessment, is $8,034 a year; the typical home sold here pays about $2,800.
- ▲ Raises it stronglyIts maintenance fee is $3,803 a month; the typical unit sold here pays about $750.
- ▲ Raises it3+1 bedrooms and 3 baths, against 1+1 and 2 typically.
Total price vs nearby homes. Likely closing about $1.73M, from 110 recent closings in this pocket.
The market behind the math:
About 0.4 months of inventory: 15 condo apartment homes for sale in the area against 110 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $530/sqft against an area asking average of $829/sqft.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood and this building.
It never sees the asking price. The 110 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.67M. Condition and finishes remain an in-person call.
What the listing highlights2 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed. Weigh carefully
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment. Value driver
Schools & getting aroundcatchment and transit
The assigned public school is Étienne Brûlé Junior School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Mimico, so I widened the search to the surrounding area.
Based on 23 homes sold in this building over the past two years, from 525 closings in Mimico.
For sale
For sale
For sale
For sale
For sale
For sale
For sale
For saleNothing closely matching this home is listed nearby right now, so these are the nearest condo apartment listings on the market. Homes like this one have recently closed around $1.86M, which is where my estimate comes from.
Per square foot, these ask about $710/sqft; this home lists at $530/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 active listings nearby.
See all comparable homesSold price trend
Median sold price for condos in Mimico: $560K in September 2026, up 1% from a year ago, on 469 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| October 2025 | $610K | 43 |
| November 2025 | $580K | 37 |
| December 2025 | $650K | 31 |
| January 2026 | $592K | 30 |
| February 2026 | $605K | 31 |
| March 2026 | $645K | 48 |
| April 2026 | $642K | 48 |
| May 2026 | $610K | 30 |
| June 2026 | $602K | 49 |
| July 2026 | $695K | 41 |
| August 2026 | $595K | 45 |
| September 2026 | $560K | 36 |
Neighbourhood & location
Mimico, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Toronto.
Get the full neighbourhood report (schools, parks, transit & safety) →
The public and Catholic schools this address is zoned for, with EQAO results (the share of students meeting Ontario's provincial standard).
School attendance boundaries and EQAO results are Ontario government data and can change. Confirm the current catchment with the school board before relying on it.
Also nearby: 8 more schools within 2.5 km
Not the assigned catchment: schools a family here could reach, with EQAO results where published.
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of October 16, 2026); conventional rates run a little higher.
Mortgage amount $1,430,400 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,909
- Property tax
- $670
- Condo / maintenance fees
- $3,803
- Heating
- $0
- Estimated monthly cost
- $12,381
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $32,235
- Toronto municipal land transfer tax
- $32,235
- Estimated closing costs
- $64,470
Plus your down payment of $357,600. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $474,536
- Principal paid down
- $174,768
- Interest paid
- $299,767
- Balance remaining
- $1,255,632
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersThe last 12 whole-home leases in Mimico signed at a median of $4,789 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $6,753. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of RE/MAX PROFESSIONALS INC.. MLS®/PropTx.