MLS® listing
55 Mercer Street 509: condo apartment for sale
$999,900
From the listing brokerage
RARE 3+1 BEDROOM WITH PARKING & LOCKER IN THE HEART OF DOWNTOWN TORONTO!** Welcome to the prestigious No. 55 Mercer Residences, where luxury, space and urban convenience come together! Offering approximately 1,050 sq. ft. of living space, this exceptional 3+1 bedroom, 2 bathroom suite delivers a rare combination of size, versatility and functionality in Toronto's vibrant Entertainment District. Three bedrooms plus a flexible den offer ample space for families, professionals, guests or a home office. Complete with ONE PARKING SPACE AND LOCKER, highly sought-after conveniences in the downtown core! Experience an extraordinary lifestyle with approximately 18,000 sq. ft. of indoor and outdoor amenities spanning three levels, including a stunning FENDI-furnished lobby, 24-hour concierge, state-of-the-art fitness centre, Peloton bikes, yoga studio, sauna, outdoor fitness area, basketball court, co-working spaces, boardroom, private dining and entertainment areas, guest suites, outdoor lounges, BBQ facilities and fire pits. Enjoy the best of downtown living with King West, the Financial District, PATH network, TTC, Union Station, Rogers Centre, CN Tower, Scotiabank Arena, theatres, shopping, exceptional restaurants and Toronto's waterfront all within easy reach. Whether you're working from home, raising a family, entertaining or investing, this spacious residence offers the perfect balance of comfort, convenience and an exciting urban lifestyle. **AN OUTSTANDING OPPORTUNITY TO OWN A SPACIOUS 3+1 BEDROOM RESIDENCE WITH PARKING AND LOCKER IN ONE OF TORONTO'S MOST EXCITING DOWNTOWN COMMUNITIES!
Facts on the listing
| Square feet | 1000-1199 |
|---|---|
| Style | 1 Storey/Apt |
| Basement | None |
| Parking spaces | 1 |
| Garage | Underground |
| Heating | Forced Air |
| Cooling | Central Air |
| Kitchens | 1 |
| Maintenance fee | $893 |
| Property tax | $5,399 |
| Tax year | 2026 |
| Locker | None |
| Pets | Yes-with Restrictions |
| Exposure | North West |
| Fee includes | Parking Included, Building Insurance Included, Common Elements Included |
| Balcony | None |
| Laundry | In-Suite Laundry |
| Interior features | Built-In Oven, Primary Bedroom - Main Floor |
| Floor | 4 |
Listing courtesy of RE/MAX REAL ESTATE CENTRE INC.. MLS® C14113248.
About this condo apartment
55 Mercer Street 509 is a 3 bedroom condo apartment in TRREB's Waterfront Communities C1 community in Toronto, listed for sale at $999,900. The listing shows 2 bathrooms and 1000-1199 square feet. The style is given as 1 storey/apt. The unit faces north west. It comes with 1 parking space and an underground garage according to the listing. The nearest main intersection given is Blue Jays Way and Mercer St.
These details come from the listing brokerage through TRREB's MLS® System. Room sizes, parking and locker ownership and what the fee covers should all be checked against the status certificate before an offer is firm.
What it costs to buy 55 Mercer Street 509
At the asking price of $999,900, a buyer pays two land transfer taxes on closing: the Ontario tax and the City of Toronto's municipal tax. Both apply to every home inside the City.
| Asking price | $999,900 |
|---|---|
| Ontario land transfer tax | $16,473 |
| Toronto municipal land transfer tax | $16,473 |
| Both taxes | $32,946 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $74,990 |
The down payment figure is the federal minimum: 5 percent of the first $500,000 and 10 percent of the rest. A lender can ask for more. These figures use the asking price, so they change if you pay more or less. Legal fees, title insurance and adjustments are extra: ask your lawyer for a written quote. This is general information, not legal or tax advice. Confirm the figures with a lawyer or accountant. You can change the price in our land transfer tax calculator and our mortgage calculator.
What it costs to own each month
| Maintenance fee | $893 a month |
|---|---|
| Property tax (2026) | $5,399 a year, about $450 a month |
| Fee and tax together | about $1,343 a month |
The listing says the maintenance fee includes parking, building insurance and common elements. That is before a mortgage payment, home insurance and any utilities the fee does not cover. Fees are set each year in the corporation's budget and can change. The status certificate shows the current fee, the budget behind it and the reserve fund.
How the asking price compares
TRREB recorded 885 condo apartment sales in the City of Toronto in August 2026, at a median price of $550,000 and an average of $651,648. This home is listed at $999,900, which is $449,900 above that median.
The median covers every neighbourhood, size and condition in the City of Toronto, so it is a reference point and not a valuation of this home. Location, size, lot, parking and condition all move the price. Our Toronto house prices page has the figures for every home type.
What to check before you make an offer
- Order the status certificate. A condo corporation must provide it within 10 days of a request and can charge up to $100. It shows the fee for this unit, any arrears, the budget, the reserve fund balance and any special assessment or lawsuit the corporation knows about.
- Have a lawyer read it. The certificate comes with the declaration, by-laws and rules. Ask what they say about pets, renting the unit and renovations. The listing gives pets as "Yes-with Restrictions".
- Confirm the parking and locker. The listing shows 1 parking space. Ask whether each is owned, exclusive use or rented. Get the unit numbers.
- Check the reserve fund study. Ask when the last study was done and what it says about contributions.
- Get your financing in writing. A lender looks at the maintenance fee and the property tax as well as the price.
- See it in person. Photos do not show noise, light at different hours or the state of the hallways and elevators.
Our first-time home buyer guide and our page for buyers walk through each step. This is general information, not legal advice. Confirm the details with a lawyer.
About Downtown Waterfront
A condo market between the rail corridor and the lake, with Union station at its north edge. Almost every sale here is a condo apartment.
Transit: Union station (Line 1 and GO), St Andrew station (Line 1), Exhibition GO to the west, 509 Harbourfront, 510 Spadina and 504 King streetcars, 121 Esplanade-River bus
| Property type | Median | Sales and average |
|---|---|---|
| Waterfront Communities C1, all property types | $610,000 | 401 sales, average $730,812 |
| Waterfront Communities C1, condo apartment | About $607,000 | 396 sales, average about $726,000 |
| Waterfront Communities C1, condo townhouse | About $890,000 | 3 sales, average about $927,000 |
| Waterfront Communities C8, all property types | $597,500 | 114 sales, average $716,565 |
| Waterfront Communities C8, condo apartment | About $595,000 | 113 sales, average about $712,000 |
Source: TRREB community housing market reports, as set out in the guide.
Questions about Downtown Waterfront
What do waterfront condos in Toronto sell for?
From April to June 2026 TRREB recorded a condo apartment median of about $607,000 across 396 sales in Waterfront Communities C1 and about $595,000 across 113 sales in Waterfront Communities C8.
Is the downtown waterfront a good place to live without a car?
For transit it is well placed, with Union station for Line 1 and GO trains, St Andrew station on Line 1 and the 509 Harbourfront, 510 Spadina and 504 King streetcars. Exhibition GO is to the west.
Are there houses for sale on the downtown waterfront?
Very few. TRREB recorded no detached sales in either community from April to June 2026 and only one or two freehold sales, while 509 of the 515 sales were condo apartments.
Which parks are on the waterfront?
City parks include HTO Park, Sugar Beach Park, Sherbourne Common, Canoe Landing, Roundhouse Park, Berczy Park and David Crombie Park.
Are there community centres and libraries nearby?
Canoe Landing Community Recreation Centre is at 45 Fort York Boulevard and St. Lawrence Community Recreation Centre at 230 The Esplanade. The Toronto Public Library has Fort York and St. Lawrence branches.
Read the Downtown Waterfront neighbourhood guide · All Downtown Waterfront homes for sale
Similar homes for sale in Downtown Waterfront
$968,00016 Yonge Street 3211, Toronto, ON M5E 2A13 bedrooms · 2 bathrooms · Condo ApartmentListed by HARVEY KALLES REAL ESTATE LTD.. MLS® C13861324
$848,00017 Bathurst Street 1215, Toronto, ON M5V 0N13 bedrooms · 2 bathrooms · Condo ApartmentListed by FOREST HILL REAL ESTATE INC.. MLS® C13746864
$570,00065 Scadding Avenue 722, Toronto, ON M5A 4L13 bedrooms · 2 bathrooms · Condo ApartmentListed by ROYAL LEPAGE SIGNATURE REALTY. MLS® C14003912
$719,00012 Yonge Street 1010, Toronto, ON M5E 1Z93 bedrooms · 2 bathrooms · Condo ApartmentListed by INTERCITY REALTY INC.. MLS® C13849304
$2,479,900455 Wellington Street W 706, Toronto, ON M5V 0V83 bedrooms · 3 bathrooms · Condo ApartmentListed by SOTHEBY'S INTERNATIONAL REALTY CANADA. MLS® C14111622
$578,90035 Rolling Mills Road S353, Toronto, ON M5A 0V63 bedrooms · 2 bathrooms · Condo ApartmentListed by REAL BROKER ONTARIO LTD.. MLS® C14098794
Questions about 55 Mercer Street 509
How much is land transfer tax on 55 Mercer Street 509?
At the asking price of $999,900 the Ontario tax is $16,473 and the Toronto tax is $16,473, $32,946 in total. A first-time buyer who qualifies can get up to $8,475 back. Confirm the final figures with your lawyer.
What is the minimum down payment for 55 Mercer Street 509?
$74,990 at the asking price of $999,900, under the federal minimum down payment rules. A lender may require more.
What is the maintenance fee at 55 Mercer Street 509?
The listing shows $893 a month, including parking, building insurance and common elements. Check the current fee in the status certificate.
How much is the property tax on 55 Mercer Street 509?
The listing shows $5,399 a year for 2026, about $450 a month.
Is 55 Mercer Street 509 priced above or below the median?
It is listed at $999,900. The August 2026 median for condo apartment sales in the City of Toronto was $550,000 across 885 sales, so the asking price is $449,900 higher. The median covers all sizes and neighbourhoods.
How do I book a showing for 55 Mercer Street 509?
Use the form on this page or call us. Quote MLS® C14113248. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 55 Mercer Street 509 still for sale?
This page is refreshed from TRREB's MLS® System through the day. If the listing sells or is withdrawn the page says so. Contact us to confirm before you make plans.
The listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose. The data is deemed reliable but is not guaranteed accurate by TRREB or PropTx. Each listing shows the brokerage that listed it. Listings are updated every few minutes.
REALTOR®, REALTORS® and the REALTOR® logo are certification marks owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). MLS®, Multiple Listing Service® and the associated logos are trademarks owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.