1 Friars Lane Toronto

Colourful Toronto home got a serious makeover and new $5 million price tag

Known as the Palermo Estate, 1 Friars Ln. is one of the original homes from Toronto's Thorncrest Village, built way back in the mid-1940s.

And while it's one of the first homes in the area, the property has gone through several glow-ups since then.

Most notably, in 2012, the then-owner brought in architect Rocco Margana for a full top-to-bottom renovation.

1 Friars Lane Toronto

The breakfast nook and sitting area.  

In the process, he transformed the once modest four-bedroom family home into a sleek two-bedroom house with a luxury office.

1 Friars Lane Toronto

The dining room. 

But after only three years of living the dream, the owner listed it — furniture included — for just over $3 million.

1 Friars Lane Toronto

A floating staircase. 

Now, 1 Friars Ln. is back on the market for $5,390,000 and has swapped the minimalist bachelor pad vibe for something a little more colourful, cozy, and family-friendly.1 Friars Lane Toronto

The primary ensuite. 

The home boasts 7,500 square feet of living space, four bedrooms, and five bathrooms.

1 Friars Lane Toronto

A little nook. 

Inside, the design is a total showstopper with custom hardwood floors, soaring ceilings, oversized European porcelain tiles, sleek Italian doors, and a floating staircase.

1 Friars Lane Toronto

The primary bedroom walk-in closet. 

One of the real highlights? The light fixtures. Every single one is cool, sculptural, and a little bit unexpected.

1 Friars Lane Toronto

The kitchen. 

The kitchen is modern, minimalist, and loaded with integrated stainless steel appliances.

1 Friars Lane Toronto

Another little nook. 

And while the main floor layout leans open concept, there are plenty of little nooks and seating areas that make it feel cozy and give you space to sneak off with a book or your laptop.

1 Friars Lane Toronto

The primary bedroom. 

Upstairs, the bedrooms are bright, bold, and each comes with its own ensuite.

1 Friars Lane Toronto

The basement recreation room. 

Downstairs, the lower level adds even more living space with an extra bedroom, a second kitchen, and a rec room that looks like Piet Mondrian was given a blank canvas, a bunch of random paint swatches, and zero adult supervision.

1 Friars Lane Toronto

The family room. 

But as cool as the inside is, the backyard really brings the wow.

1 Friars Lane Toronto

The backyard. 

The pool is massive, featuring a tranquil waterfall and an award-winning Gib-San hot tub (because even your hot tub should have accolades).

1 Friars Lane Toronto

The lawn. 

The backyard also includes elegant stone patios, lush-but-low-maintenance artificial turf, and not one but two built-in Lynx gas BBQs. 

1 Friars Lane Toronto

A home office. 

And even though this home is basically a resort on its own, living in the Thorncrest community comes with extra perks.

1 Friars Lane Toronto

The back of the house. 

Residents get access to a private clubhouse, a pool, tennis courts, and even summer camps.

Photos by

Tours4Listings


Latest Videos



Latest Videos


Join the conversation Load comments

Latest in Real Estate

This $750,000 Ontario townhouse is a first-time homebuyer's dream

This dazzling Toronto home just reduced its price by $1.5 million

Rent prices in Ontario keep plummeting and here's where they're the lowest

Two tiny derelict Toronto houses selling for cheap but you have to buy both

Toronto housing market just crossed a brutal milestone amid real estate collapse

$2 million could get you a historic schoolhouse-turned-contemporary Ontario home

Iconic Toronto bookstore booted from home of 40 years

Pair of Toronto office towers to be completely transformed