Toronto Life - The Informer

Insider intel on the politics and personalities shaping the city. Sign up for Preview newsletter for weekly updates

Real Estate


Office Space: $64 per square foot for Victorian grandeur in the historic Flatiron Building

ADDRESS: 49 Wellington Street East

NEIGHBOURHOOD: Church-Yonge Corridor

AGENT: Cushman and Wakefield

PRICE: $64 gross rent per square foot

THE PLACE: Stained glass windows, sumptuous hardwood floors, ominous vaults and the city’s first manually operated Otis elevator: the nearby bank towers seem so vanilla next to this historic red-brick building. Every space is rich with architectural detail, but each floor is somewhat unique: the first level, for example, offers fireplaces in nearly every office, while the fifth floor has gorgeous exposed rafters and a stunning view of St. Lawrence Market.

THE STORY: George Gooderham put up the wedge-shaped, David Roberts Jr.–designed building in 1892 to house the headquarters of his booming distillery business, Gooderham and Worts. The Flatiron cost $18,000 to construct, making it the most expensive office building in Toronto at the time, and was finished in 1892, a full 10 years before that other, more famous Flatiron building in New York City. Theirs might be showier, but hey, we got there first.

THE IDEAL TENANT: Lawyers and accountants have both come knocking, but the late Victorian architecture is really more suitable for someone who wears a top hat and carries a cane to work. So basically, Scrooge McDuck or Rich Uncle Pennybags.

• 16,000 square feet
• 120 years of history
• $64 per square foot
• 12-foot ceilings
• 5 floors
• 1 original Otis elevator
• 1 elevator operator/concierge named Henry

  • Joe

    You forgot Mr. Peanut, he also “wears a top hat and carries a cane to work.”

  • Lisa intheCity

    For me, this building is simply exquisite.

  • Wod

    Nic…should be $200 per sq ft to deter people from moving there and cant appreciate a fine piece of building. Wish Toronto Life would have used the opportunity to have some worthwhile comments on the historical significant of the building and interior versus the usual tired comments.

  • downtown dweller

    really love this building ♥

  • cat

    i didn’t know income is a factor in appreciating architecture.. :S

  • Chris Fyvie