1605-2045 Lake Shore Boulevard, Toronto, ON
Mimico, Toronto · MLS® W13825908
About this home
In short
- Welcome to Suite 1605 at The Palace Pier.
- The bedroom is a calm retreat with a custom walk-in closet and a 3-piece ensuite outfitted with double mirrored doors and built-in cabinetry.
- Enjoy a full suite of five-star amenities: 24-hour concierge and valet, indoor pool, gym, tennis and squash courts, spa, sauna, private restaurant, shuttle service...
- Named 2020 Condo of the Year, the building is celebrated for its strong community, prestige, and exceptional service.
- With quick access to the QEW, Highway 427, and the TTC Humber Loop, getting downtown or around the city is a breeze.
Welcome to Suite 1605 at The Palace Pier. Located in the coveted Humber Bay Shores, this spacious, light-filled unit offers breathtaking views of Lake Ontario and Toronto's skyline from nearly every room. The open layout blends comfort and function with expansive living and dining areas, oversized windows, and clean modern finishes. The kitchen is stylish and efficient, featuring tile floors, quartz counters, a sleek backsplash, and a new dishwasher. The bedroom is a calm retreat with a custom walk-in closet and a 3-piece ensuite outfitted with double mirrored doors and built-in cabinetry. Every window is fitted with sunshade treatments, and the unit includes a front-load European washer and dryer for added convenience. The Palace Pier is more than just a residence; its a lifestyle. Enjoy a full suite of five-star amenities: 24-hour concierge and valet, indoor pool, gym, tennis and squash courts, spa, sauna, private restaurant, shuttle service, guest suites, and a panoramic lakefront lounge. Named 2020 Condo of the Year, the building is celebrated for its strong community, prestige, and exceptional service. Step outside and onto the Martin Goodman Trail, a scenic waterfront path that seamlessly connects residents to downtown Toronto by bike or on foot. The trail also links to many of Toronto's beautiful waterfront parks, making it a perfect route for picnics, outdoor activities, and enjoying the city's natural beauty. The surrounding area is home to high-end restaurants, trendy cafes, marinas, parks, and convenient grocery options. With quick access to the QEW, Highway 427, and the TTC Humber Loop, getting downtown or around the city is a breeze. This isn't just a condo, its turnkey waterfront living at one of Toronto's most iconic addresses. Discover what it means to live at The Palace Pier.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- W13825908
- Bedrooms
- 1
- Bathrooms
- 1
- Size
- 800-899 sq ft
- Cross streets
- Lakeshore Blvd W/Palace Pier Ct
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Maintenance
- $1,143/mo
- Exposure
- South West
- Property tax
- $2,686 / 2026
- Days on market
- 21
- Listing brokerage
- SAM MCDADI REAL ESTATE INC.
Rooms
combined w/dining · open concept · hardwood floor
b/i appliances · backsplash · tile floor
combined w/living · window floor to ceiling · w/o to balcony
3 pc ensuite · walk-in closet(s) · large window
Listed at $729,000. Going by how homes in Mimico have actually closed against their asking prices (about 97%, 108 local closings in 90 days), the likely sale price is near $707K, if it sells. A realistic range is $666K to $765K.
Independent value check: no figure for this home. Going only by the sales record, our model lands more than 25% below the ask. At that distance an automated figure has rarely been close to the eventual sale price, so we are not printing one. The usual reason is something the record cannot show: a rebuild, a second unit, or a lot or setting unlike the homes around it.
Total price vs nearby homes. Likely closing about $707K, from 108 recent closings in this pocket.
The market behind the math:
About 1.4 months of inventory: 50 condo apartment homes for sale in the area against 108 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $858/sqft against an area asking average of $838/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 108 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $584K. Condition and finishes remain an in-person call.
What the listing highlights1 point 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
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
Priced above comparable homes overall, but the price per square foot ($858/sqft) is in line with the area, so you are paying for extra space rather than a premium.
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 saleThe closest active listings by size, beds, and price, so you can see what this home is up against.
Per square foot, these ask about $808/sqft; this home lists at $858/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
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 $583,200 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,225
- Property tax
- $224
- Condo / maintenance fees
- $1,143
- Heating
- $0
- Estimated monthly cost
- $4,591
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $11,055
- Toronto municipal land transfer tax
- $11,055
- Estimated closing costs
- $22,110
Plus your down payment of $145,800. 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
- $193,477
- Principal paid down
- $71,256
- Interest paid
- $122,220
- Balance remaining
- $511,944
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 $3,573. 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 SAM MCDADI REAL ESTATE INC.. MLS®/PropTx.