$5,000/mo - 1 Palace Pier Court Unit 4502, Liberty Village
Condo for Rent in Liberty Village
79 days on market- MLS Number
- W12938928
- Property Type
- Condo
- Status
- active
- Days on Site
- 79
- Bedrooms
- 3
- Bathrooms
- 3
- Square Feet
- 1,400 sqft
- Neighbourhood
- Liberty Village / Parkdale / South Parkdale
- Locker
- Owned
- Exposure
- South East
- Balcony
- Enclosed
- Listing Brokerage
- THE AGENCY
Rising above the shoreline in one of Toronto's most iconic waterfront residences, this spectacular penthouse at 1 Palace Pier delivers elevated luxury living with breathtaking, unobstructed views of Lake Ontario and the CN Tower. Spanning over 1,600 square feet, this expansive 2-bedroom, 3-bathroom suite offers a refined, functional layout designed for both everyday comfort and elegant entertaining. Each generously sized bedroom is a private retreat, complete with its own spa-inspired ensuite and walk-in closet - perfectly balancing privacy and indulgence. The sun-drenched solarium provides a versatile bonus space ideal for a home office, reading lounge, or serene morning coffee overlooking the water. Floor-to-ceiling windows flood the home with natural light while framing panoramic skyline and lake vistas that transition beautifully from day to night. A rare offering, this penthouse includes two premium parking spaces and showcases the prestige, space, and lifestyle discerning individuals expect along the waterfront. Palace Pier is built on convenience with valet parking and a shuttle bus taking residents from the condo to Union Station. Experience elevated living where luxury meets lifestyle.
Discover Liberty Village / Parkdale / South Parkdale
Liberty Village / Parkdale / South Parkdale is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Liberty Village / Parkdale / South Parkdale
- •Convenient location in Liberty Village / Parkdale / South Parkdale
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Liberty Village / Parkdale / South Parkdale offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
1 Palace Pier Court Unit 4502, Liberty Village / Parkdale / South Parkdale
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How this lease stacks up against the local rental market
Estimated Monthly Budget
Things to Confirm Before Signing
· Are utilities included, or separate?
· How many parking spots are included?
· Is the landlord open to a 1-year or 2-year lease?
· Are pets and small renovations (paint, hooks) allowed?
· When was the last rent increase, if there is a prior tenant?
Utility estimates are approximate and vary by season, habits, and what the landlord includes. Always confirm inclusions with the listing agent.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Above Market Rent
At $5,000/mo, this is asking above the typical 3-bedroom rent of ~$3,500/mo in Liberty Village. That premium needs to be justified — newer finishes, included parking, a premium location, or utilities included. I'll help you assess whether it's worth it or whether there's room to negotiate.
Negotiation Opportunity
At 79 days on site, this property has exceeded the typical selling timeline for Liberty Village. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Lease Terms to Negotiate
Don't just focus on the monthly rent — the lease terms matter just as much. I always advise my rental clients to clarify: what's included (parking, storage, utilities), the lease length options, the landlord's policy on renewals, and whether small personalizations like painting are permitted. These details can make or break your experience over 12–24 months.