40 St. Mary Street, Toronto, ON M4Y 2S8
Well-appointed sub-lease opportunity in a prime Bay & Bloor location. Approximately 1,457 square feet, thoughtfully fitted out as a turnkey office environment. The space features a professional reception area, boardroom, kitchenette, and six built-in office stalls/workstations, offering an efficient layout suitable for a variety of professional uses. Ideal for firms seeking a prestigious downtown address with minimal upfront build-out costs. Ample underground paid parking is available on-site at a monthly rate. Excellent access to transit, amenities, and the vibrant Bay-Bloor business district. Lease rate $35.00 per square foot net with $1.00 increases annually for the duration of the term.
- MLS number
- C12978960
- Type
- Office
- Status
- Active
- Bedrooms
- —
- Bathrooms
- —
- Postal code
- M4Y 2S8
- Photos
- 15
- Property tax
- $18 / year
This listing’s own days on market are shown above. How long the property has been for sale across every earlier listing is drawn from records the board releases only to registered users — a free account opens it, along with the sale history below.
Property details
As filed by the listing brokerage. Anything the board left blank is left out rather than shown as unknown — and none of it is guaranteed accurate by PropTx, so verify what you rely on.
Property
- Type
- Office
- Class
- Commercial
- Community
- Bay Street Corridor
- Municipality
- Toronto C01
- Cross street
- Bay & Bloor
- Zoning
- Commercial
Parking
- Garage
- Underground
Land
- Lot
- 0 × 0 feet
Heating, cooling and services
- Heating
- Gas Forced Air Closed
- Cooling
- Yes
- Water
- Municipal
Listing
- MLS number
- C12978960
- Status
- New
- Previous status
- Draft
- Listed on
- 2026-04-09
- Expires
- 2026-10-15
- Taxes
- $18 (2026)
- Board
- Toronto Regional Real Estate Board
Listing history
No previous listings found for this address.
Where this property is
Pick a school to see the boundary it is inside. Boards redraw these — confirm with the board.
Matched to a published address point for this address.
Schools
The school boundaries this address is inside, and the schools nearest it. Boards redraw boundaries and cap programs — confirm with the board before this affects a decision.
School boundaries this address is inside
Where these boundaries come from, and what they are worth
A school boundary is the area a board draws around a school. An address inside several of them is normal — boards publish a separate boundary per program, so regular track, French immersion and specialist programs each have their own.
Toronto. Read from the TDSB’s own School Search Map, one school at a time. The board states that the lines on that map are approximate and that the schools serving an individual address must be confirmed against its own address lookup — so the outline here shows you roughly where a boundary runs, and the board answers whether a particular house is in it. The map covers home schools only: French Immersion, gifted and the other optional programs have their own boundaries and their own admission rules, and are not shown.
Homula cannot tell you which school a child will attend. Boards move boundaries, hold students at capacity, cap programs and grant exceptions, and none of that is in any published file. The board is the only authority: TDSB Find Your School.
Sources: TDSB School Search Map — the board states these lines are approximate and that individual addresses must be confirmed against its own lookup.
Other schools nearby
By distance from this address, not school boundary — a school 400 m away can be in another school’s attendance area.
| School | Level | Distance | Rating |
|---|---|---|---|
| Vega Academy | Secondary | 279 m | Not reported |
| Oakdale Academy | Secondary | 308 m | Not reported |
| Ontario International High School | Elementary and secondary | 319 m | Not reported |
| St Joseph's College School Toronto CDSB | Secondary | 391 m | / 10 77% met the standard · 2 of 6 measures |
| Rosedale Day School, The | Elementary | 367 m | Not reported |
| YMCA Academy | Elementary and secondary | 549 m | Not reported |
How the rating is calculated
EQAO — Ontario’s testing agency — publishes, for each school, the percentage of students meeting the provincial standard in Grade 3 and Grade 6 reading, writing and mathematics. The rating is the average of those percentages divided by ten. A school where 72% of students met the standard rates 7.2 out of 10.
Nothing is weighted or adjusted, and schools are not ranked against each other. Where EQAO withholds a result to protect the privacy of a small group of students, that measure is left out rather than counted as zero — so a rating built on fewer than six measures says so.
What it does not measure. It is one year of standardised testing in three subjects. It says nothing about teaching, programs, or whether a school suits a particular child, and it tracks neighbourhood household income closely enough that it partly measures the neighbourhood rather than the school. Treat it as one figure among many.
Source: Ontario Ministry of Education, School Information and Student Demographics (2024–25), Open Government Licence – Ontario.
H-Value
What an H-Value is and how it is calculated — the method and our measured error, no account needed.
This neighbourhood
Statistics Canada 2021 Census, for the surrounding few blocks — about 543 people.
The neighbourhood, by the census
Statistics Canada 2021 Census for dissemination area 35204601 — the few blocks around this address, home to 543 people. It describes the area, not this property.
Percentages are of the 425 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.
Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.
What’s being built nearby
Planning applications within 500 m — 8 still in progress.
Zoning By-law Amendment to permit a self-storage warehouse use on floors 2-5 (formely The Bay retail space). The existing ground floor retail unit will be maintained. Access for loading and parking will be from Asquith Avenue.…
City planning file →The application proposes to amend the Zoning By-law to permit a 75-storey mixed-use building (250.5 metres including mechanical penthouse) containing 92 square metres of ground floor retail space, 1,064 square metres of office space, and 843 dwelling units, in…
City planning file →An application for Draft Plan of Condominium. The application proposes to create 378 residential units.
City planning file →Draft Plan of Condominium Application for North Tower B with 760 residential units proposed.
City planning file →Official Plan & Zoning By-law Amendment to not replace the required office space and instead permit a minimum 1,815 m2 of non-residential space and/or affordable rental housing in a proposed 62-storey predominantly residential development.…
City planning file →Proposed 31-storey (107.9 metres) purpose-built rental building and the restoration and adaptive reuse of the heritage building at 50 Park Road, which is proposed to be integrated into the new development.…
City planning file →Combined Official Plan & Zoning By-law Amendment for a 69-storey residential apartment building and will contain a total of 814 dwelling units, including 84 rental replacement units.
City planning file →What these are
These are applications made to the City — a proposal to build something, not a decision that it will be built. Many are refused, withdrawn, reduced, or approved and then left for years. The status shown is the one the City last recorded, and each entry links to the City’s own file, which is the authoritative record.
Whether a nearby development is welcome depends on what you want from a street, so this panel reports what has been applied for and leaves the judgement to you.
Contains information licensed under the Open Government Licence – Toronto. Toronto only for now; other municipalities publish this differently or not at all.