Welcome back to Pick Five!
This week, we’re talking about a long-overlooked asset in Toronto condos: the outdoor terrace. Not a Juliet balcony. Not a concrete ledge with two plastic chairs. A real, livable, lounge-worthy terrace.

And the timing? Perfect. Because one of the five listings we’re looking at is a place David knows very well—it’s his old condo. The one where he hosted friends, planted tomatoes, played ping pong in the wind, and even proposed to his wife.

Let’s dive into five Toronto condos with terraces that might just change the way you think about outdoor space.

Why Condo Terraces Deserve More Attention

In a city dominated by glass towers and shrinking square footage, outdoor space is often overlooked—or badly executed. But a proper terrace can transform a unit into a true home. It offers room to entertain, relax, garden, dine, or even just get a break from your HVAC.

Yet many buyers hesitate. Why? Because outdoor space isn’t always counted the same way as indoor space. It doesn’t show up in square footage metrics. It doesn’t photograph well in winter. And frankly, most terraces are underutilized by sellers—and underappreciated by agents.

This week, David walks through five downtown Toronto condos with legitimate outdoor living. Some are priced well. Others, not so much. But all come with potential.

Five Toronto Condos With Real Outdoor Space

1. 478 King Street West – $1.26M | A Penthouse With Personality (And Pacing Issues): Located at Victory Condos, this 972 sq. ft. unit comes with a 980 sq. ft. terrace. The ratio is spot on, but the listing? A mess. Photos are out of order, renderings mixed with real shots, and more confusion than clarity. Still, the terrace itself—open-air with no one above—is a major win. It’s got the right bones for someone ready to bring a little life back to the outdoor space.
2. 168 King Street East – $1.349M | A Missed Opportunity Revisited: David’s client almost bought this one years ago. They passed—and regretted it ever since. Inside, it’s a fully renovated 900 sq. ft. unit. Outside? A 1,400 sq. ft. terrace with sweeping views. The interior is dialed in, but the outdoor space is begging for some love. A bit of Trex decking, planter boxes, and imagination could turn this into one of the best condo terraces in the city.
3. 20 Minowan Miikan Lane – $1.5M | Carnaby Cool With Just Enough Terrace: A stylish three-bedroom unit with 1,100 sq. ft. inside and 680 sq. ft. outside. The terrace is broken into functional zones—conversation, dining, and lounge—proving that even a modest outdoor footprint can feel expansive with the right layout. Bonus: CN Tower views and a built-in outdoor kitchen make this one feel like a home built for entertaining.
4. 112 George Street – $1.8M | David’s Former Home (And Story Goldmine): This is the one. David lived here, proposed here, built planter boxes and a raised deck here. The 1,100 sq. ft. terrace nearly mirrors the 1,100 sq. ft. interior, and while the current owners have made some changes (kitchen reno, lighting upgrades), the spirit of the space remains. A west-facing unit with tons of memories, loads of light, and a history that’s both personal and marketable.
5. 400 Adelaide Street East – $1.59M | A Blank Slate With Big Potential: A newer unit with 1,400 sq. ft. of interior space and 900 sq. ft. outside—but right now, the terrace is a bit of a concrete wasteland. Patio stones, no greenery, and zero imagination. Still, the space is there, and so is the view. With the right touch (and a better listing strategy), this could be a showpiece. But someone’s going to need vision—and maybe a carpenter.

The Verdict: Are Condo Terraces the Market’s Most Undervalued Feature?

If this week’s Pick Five proves anything, it’s that outdoor space in Toronto is still underpriced and misunderstood. Terraces offer lifestyle upgrades that square footage alone can’t—privacy, entertainment space, fresh air—and yet they’re rarely marketed to their full potential.

The key is knowing how to use them, how to price them, and most importantly, how to tell the story. That’s something David does best, especially when one of those stories includes a proposal, a ping pong table, and a tomato garden in the sky.

Which One Would You Buy?

Are you all about functionality and ready-made finishes at 20 Minowan Miikan? Does the raw potential at 400 Adelaide get your design gears turning? Or would you go full nostalgia and claim David’s former home at 112 George?

Let us know in the comments.

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