MLS® listing
1 Palace Pier Court 602: condo apartment for sale
$1,070,000
From the listing brokerage
Experience the pinnacle of Canadian waterfront living at Palace Place, a symbol of unmatched prestige and luxury. This immaculately managed condominium residence is a beacon of grandeur that impresses at every turn. This Two (2) Bedrooms + Den apartment of 1,204 square feet of inviting living space comes with a mesmerizing city skyline and serene lake views serve as a testament to its unique charm. Strategically located near Lake Shore Blvd West & Palace Pier Crt, in the heart of Etobicoke's vibrant Mimico neighborhood. Palace Place offers a wealth of amenities to enhance your lifestyle - a state-of-the-art gym/exercise room, a refreshing pool, concierge and guest suites, complemented by the luxury of a sauna, the assurance of a security guard, and the convenience of an Enter Phone System. Immerse yourself in the essence of sophisticated living at Palace Place. For your convenience, the building comes with a private Shuttle Bus Service to multiple locations in Toronto. Photos are virtually staged.
Facts on the listing
| Square feet | 1200-1399 |
|---|---|
| Style | Apartment |
| Basement | None |
| Parking spaces | 1 |
| Garage | Underground |
| Heating | Heat Pump |
| Cooling | Central Air |
| Kitchens | 1 |
| Maintenance fee | $1,334 |
| Property tax | $4,019 |
| Tax year | 2025 |
| Locker | Owned |
| Pets | Yes-with Restrictions |
| Exposure | South East |
| Fee includes | Building Insurance Included, Parking Included, Hydro Included, Water Included, Cable TV Included, Heat Included, CAC Included, Common Elements Included |
| Building amenities | Concierge, Guest Suites, Gym, Indoor Pool, Party Room/Meeting Room, Rooftop Deck/Garden |
| Balcony | None |
| Laundry | Ensuite |
| Parking | Underground |
| Interior features | None |
| Features | Lake Access, Public Transit, Park |
| Floor | 6 |
Listing courtesy of AKARAT GROUP INC.. MLS® W13484066.
About this condo apartment
1 Palace Pier Court 602 is a 3 bedroom condo apartment in TRREB's Mimico community in Toronto, listed for sale at $1,070,000. The listing shows 2 bathrooms and 1200-1399 square feet. The style is given as apartment. The unit faces south east. It comes with 1 parking space, an underground garage and a locker (owned) according to the listing. The nearest main intersection given is Lake Shore & Palace Pier.
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.
Building amenities on the listing: concierge, guest suites, gym, indoor pool, party room/meeting room and rooftop deck/garden.
What it costs to buy 1 Palace Pier Court 602
At the asking price of $1,070,000, 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 | $1,070,000 |
|---|---|
| Ontario land transfer tax | $17,875 |
| Toronto municipal land transfer tax | $17,875 |
| Both taxes | $35,750 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $82,000 |
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 | $1,334 a month |
|---|---|
| Property tax (2025) | $4,019 a year, about $335 a month |
| Fee and tax together | about $1,669 a month |
The listing says the maintenance fee includes building insurance, parking, hydro, water, cable tv, heat, cac 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 $1,070,000, which is $520,000 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 and a locker. 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 Mimico
A lakeside Etobicoke neighbourhood where condo apartments make up most sales, beside streets of detached houses and townhouses. From April to June 2026 the median sale across all property types was $671,000 (TRREB).
Transit: Mimico GO station (Lakeshore West line) at 315 Royal York Road. The 501 Queen streetcar along Lake Shore Boulevard West, with the 507 Long Branch and 508 Lake Shore streetcars at limited times
| Property type | Median | Sales and average |
|---|---|---|
| All property types | Median $671,000 | 169 sales, average $804,199 |
| Detached | About $1,250,000 | 31 sales, average about $1,237,000 |
| Freehold townhouse (TRREB att/row/townhouse) | About $1,200,000 | 9 sales, average about $1,212,000 |
| Condo townhouse | About $1,027,000 | 5 sales, average about $982,000 |
| Condo apartment | About $609,000 | 124 sales, average about $659,000 |
| Semi-detached | No sales reported | 0 sales |
Source: TRREB community housing market reports, as set out in the guide.
Questions about Mimico
Is Mimico a good place to live?
That depends on the home you need and how you travel. Mimico is mainly condo apartments by sales, with a median condo apartment sale of about $609,000 from April to June 2026 (TRREB). It has a GO station on the Lakeshore West line, the 501 Queen streetcar on Lake Shore Boulevard West and a string of City parks on the water.
How much does a house cost in Mimico?
From April to June 2026 TRREB recorded 31 detached sales in Mimico with a median of about $1,250,000. The 9 freehold townhouse sales had a median of about $1,200,000. TRREB recorded no semi-detached sales in the quarter.
Is there a GO station in Mimico?
Yes. Mimico GO station is at 315 Royal York Road on the Lakeshore West line. Trains toward Union station stop at Exhibition GO and then Union, so Union is 2 stops away (GO Transit).
Is Mimico on the subway?
No. The nearest rapid transit inside the area is Mimico GO. The 501 Queen streetcar runs along Lake Shore Boulevard West between Humber Loop and Long Branch Loop on the TTC map. The 507 Long Branch and 508 Lake Shore streetcars also run there at limited times.
Is Mimico a heritage conservation district?
No. The City of Toronto's list of heritage conservation districts does not include a district in Mimico. Individual properties can still be designated, so check the exact address with the City.
Read the Mimico neighbourhood guide · All Mimico homes for sale
Similar homes for sale in Mimico
$699,000251 Manitoba Street 1604, Toronto, ON M8Y 0C73 bedrooms · 2 bathrooms · Condo ApartmentListed by BAY STREET GROUP INC.. MLS® W13818840
$949,888300 Manitoba Street PH416, Toronto, ON M8Y 4G63 bedrooms · 2 bathrooms · Condo ApartmentListed by EXP REALTY. MLS® W13653402
$619,0002200 Lake Shore Boulevard W 3907, Toronto, ON M8V 1A43 bedrooms · 2 bathrooms · Condo ApartmentListed by REAL ONE REALTY INC.. MLS® W13867152
$1,128,00059 Annie Craig Drive 3503, Toronto, ON M8V 0C43 bedrooms · 2 bathrooms · Condo ApartmentListed by FOREST HILL REAL ESTATE INC.. MLS® W13827576
$1,750,0002045 Lake Shore Boulevard W 3606, Toronto, ON M8V 2Z63 bedrooms · 3 bathrooms · Condo ApartmentListed by Century 21 Miller Real Estate Ltd.. MLS® W13854052
$999,99956 Annie Craig Drive 1703, Toronto, ON M8V 0C53 bedrooms · 2 bathrooms · Condo ApartmentListed by RIGHT AT HOME REALTY. MLS® W13858110
Questions about 1 Palace Pier Court 602
How much is land transfer tax on 1 Palace Pier Court 602?
At the asking price of $1,070,000 the Ontario tax is $17,875 and the Toronto tax is $17,875, $35,750 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 1 Palace Pier Court 602?
$82,000 at the asking price of $1,070,000, under the federal minimum down payment rules. A lender may require more.
What is the maintenance fee at 1 Palace Pier Court 602?
The listing shows $1,334 a month, including building insurance, parking, hydro, water, cable tv, heat, cac and common elements. Check the current fee in the status certificate.
How much is the property tax on 1 Palace Pier Court 602?
The listing shows $4,019 a year for 2025, about $335 a month.
Is 1 Palace Pier Court 602 priced above or below the median?
It is listed at $1,070,000. The August 2026 median for condo apartment sales in the City of Toronto was $550,000 across 885 sales, so the asking price is $520,000 higher. The median covers all sizes and neighbourhoods.
How do I book a showing for 1 Palace Pier Court 602?
Use the form on this page or call us. Quote MLS® W13484066. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 1 Palace Pier Court 602 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.