Single parking spot in Toronto hits the market for whopping $120,000
Prime parking in downtown Toronto comes at a price and it turns out that price can soar into the hundreds of thousands.
One parking spot, located at 197 Yonge Street in the Massey Tower building, is currently listed for $120,000.
Massey Tower features a fully automated, above-ground parking system, with 148 parking spaces over five parking floors.
The parking garage was built by 5by2 Parking, whose website says the garage operates “on the puzzle-system, not dissimilar in concept to a child's sliding tile puzzle.”
“It uses individually controlled sliding pallets to manoeuvre each car independently to create a flexible and highly efficient parking and retrieval solution.”
The company also boasts that there is minimal waiting time for the car to be retrieved, that the car and contents are entirely secure, with no risk of theft, and that the parking garage can also charge electric vehicles that are parked in the system.
Whoever purchases a parking spot in the building will be on the hook for $211 in monthly maintenance fees.
This listing isn’t an anomaly either. Another parking spot in the same building is listed on Realtor.ca for $118,000.
CTVNews.ca Top Stories
BREAKING Donald Trump picks former U.S. congressman Pete Hoekstra as ambassador to Canada
U.S. president-elect Donald Trump has nominated former diplomat and U.S. congressman Pete Hoekstra to be the American ambassador to Canada.
Genetic evidence backs up COVID-19 origin theory that pandemic started in seafood market
A group of researchers say they have more evidence to suggest the COVID-19 pandemic started in a Chinese seafood market where it spread from infected animals to humans. The evidence is laid out in a recent study published in Cell, a scientific journal, nearly five years after the first known COVID-19 outbreak.
This is how much money you need to make to buy a house in Canada's largest cities
The average salary needed to buy a home keeps inching down in cities across Canada, according to the latest data.
'My two daughters were sleeping': London Ont. family in shock after their home riddled with gunfire
A London father and son they’re shocked and confused after their home was riddled with bullets while young children were sleeping inside.
Smuggler arrested with 300 tarantulas strapped to his body
Police in Peru have arrested a man caught trying to leave the country with 320 tarantulas, 110 centipedes and nine bullet ants strapped to his body.
Boissonnault out of cabinet to 'focus on clearing the allegations,' Trudeau announces
Prime Minister Justin Trudeau has announced embattled minister Randy Boissonnault is out of cabinet.
Baby dies after being reported missing in midtown Toronto: police
A four-month-old baby is dead after what Toronto police are calling a “suspicious incident” at a Toronto Community Housing building in the city’s midtown area on Wednesday afternoon.
Sask. woman who refused to provide breath sample did not break the law, court finds
A Saskatchewan woman who refused to provide a breath sample after being stopped by police in Regina did not break the law – as the officer's request was deemed not lawful given the circumstances.
Parole board reverses decision and will allow families of Paul Bernardo's victims to attend upcoming parole hearing in person
The families of the victims of Paul Bernardo will be allowed to attend the serial killer’s upcoming parole hearing in person, the Parole Board of Canada (PBC) says.