Peter Munk’s Former $25M Stone Mansion in Toronto Razed for Modern Mansion (PHOTOS)

Peter Munk’s Former $25M Stone Mansion in Toronto Razed for Modern Mansion

24 – 26 Old Forest Hill Road, Toronto, Ontario, Canada

We recently uncovered that the former estate of Hungarian-born Canadian businessman, investor and philanthropist, Peter Munk, has been demolished in favour of new construction. Munk, who founded Barrick Gold, died in 2018 at the age of 90. In 2007, Peter and his wife, Melanie, purchased an adjacent property, demolished the existing home and extended their side yard to include a new garden pavilion, formal gardens and large fountain. We found a demolition application dated May 15, 2007 outlining the proposed demolition and plans for development. The imposing stone manor had been on the market since 2012 for as much as $25,000,000. It eventually dropped to $18,000,000 and sold for an unknown amount. Sometime between July 2015 and April 2016, the entire property was razed and construction on a new, modern mansion was well underway. Based on aerial imagery throughout the building process, it appears the new owners kept the garden pavilion and possibly closed it in while construction was underway. Current imagery suggests that it has since been demolished. We’ve been scouring the streets of Toronto and it’s heartbreaking to see how many beautiful old homes have been reduced to rubble in favour of new construction. A former listing for the property described it as being “lined with stately linden trees” and “poised majestically on a prized estate property.” We knew this was happening in Vancouver but it seems it’s happening at a much faster rate in Toronto. Not only was Munk a successful businessman, he was also extremely philanthropic. In 1997 helped form the Peter Munk Cardiac Centre at the Toronto General Hospital with an initial donation of $6 million. In 2006, he donated an additional $37 million to the centre, making it the largest donation to a hospital at the time. In 2017, he made headlines once more as he donated $100 million to the Peter Munk Cardiac Centre, making it the single largest donation ever made to a Canadian hospital. Munk also donated upwards of $50 million to the University of Toronto and $5 million to the Fraser Institute. We’ve compiled a collection of photos of what the property previously looked like and what has taken its place. We also found a video and floor plans. 

Former listing details: “Highlighted by exquisite appointments, superb construction and the finest of architectural details, this is clearly one of the most elegant homes in Forest Hill Village. The great hall provides a welcome introduction enhanced by stone floors and walls, recessed leaded glass pane windows with decorative wrought iron grill and crown mouldings.  The living and dining rooms are spacious and elegant embellished by wide-plank oak hardwood floors, panelled and upholstered walls and wood-burning fireplace and make ideal settings for sophisticated entertaining.  The garden and breakfast rooms featuring French doors opening to stone terraces offer venues for more casual gatherings and al fresco dining.  The gourmet kitchen will please the most discerning chef complemented by a butler’s servery and a large pantry with terra cotta floors, counters and custom built-in cabinetry. French doors with leaded glass panes access the handsome library finished with fireplace and bookcases offering an enticing private retreat. Grand master suite with spacious sitting room & lavish marble ensuite. Third level features a sitting room, two large bedrooms, bathroom, artist’s studio & two storage areas. There is also an elevator, home gym, indoor lap pool, wine cellar and self-contained staff quarters.”

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