The Fifth is the flagship steakhouse of the Liberty Entertainment Group, serving premium cuts in a sophisticated dining room designed for special occasions and business dining. The dry-aging program and the extensive wine cellar are the kitchen's twin signatures.
Neighbourhood: Entertainment District · Address: 225 Richmond St W, Suite 501B, Toronto, ON M5V 1W2 · Hours: Mon–Thu 11:30am–10pm | Fri–Sat 11:30am–11pm | Sun 4:30–9pm · Phone: (416) 979-3005
Why Visit
The Fifth is the Liberty Entertainment Group's flagship steakhouse — premium dry-aged beef, an extensive wine cellar with over 500 labels, and formal service in a sophisticated dining room designed for special occasions and business dinners.
What Makes It Unique
No other GTA steakhouse combines this level of in-house dry-aging with a wine cellar of this depth. The 21–45 day aging program, the bone-in presentations, and the cellar tour create a dining experience that is genuinely distinctive in the premium steakhouse category.
The Fifth has been the flagship steakhouse of the Liberty Entertainment Group for over a decade, serving premium beef in a sophisticated dining room in Etobicoke that draws guests from across the GTA. The space is designed for the steakhouse tradition: dark woods, leather seating, subdued lighting, and a bar that serves as the room's social anchor. The atmosphere is formal without being stiff — the staff understand that business dinners and special occasions require different energy than casual dining, and they manage the room accordingly.
The cooking is premium steakhouse in the American tradition, with a focus on beef that is sourced from the best suppliers and prepared with the technique that premium cuts demand. The dry-aging program is the kitchen's signature — beef is aged in-house for 21 to 45 days in dedicated aging rooms that control temperature, humidity, and airflow to produce the correct flavour development. The dry-aged ribeye is the most popular cut: the aging process concentrates the beef's flavour, tenderizes the meat through enzymatic action, and produces the earthy, nutty notes that distinguish dry-aged beef from unaged alternatives.
The bone-in strip loin is the kitchen's most visually dramatic presentation — a large cut with the bone intact, seared at high heat to develop a crust, then finished in the oven to the requested temperature. The bone contributes flavour to the surrounding meat, and the presentation (the steak arrives whole, then is sliced tableside by the server) creates the ceremony that steakhouse dining demands.
The lobster bisque is the kitchen's most technically accomplished non-steak dish — built from lobster shells that are roasted and then simmered for hours to extract maximum flavour, finished with cream and sherry, and garnished with lobster meat and chives. The soup is velvety, deeply flavoured, and genuinely among the best lobster bisques in the GTA.
The wine cellar is the other defining feature of The Fifth. The collection includes over 500 labels, with particular depth in Cabernet Sauvignon, Bordeaux, and Napa Valley wines — the natural pairings for premium beef. The cellar tour is available by request and showcases the depth of the collection, including rare and allocated bottles that are not available through standard retail channels.
Service is formal and polished — the staff are trained to the steakhouse standard and manage the room with the discretion and efficiency that business dining requires. The pacing is deliberate: a full dinner takes two to two-and-a-half hours, which is appropriate for a restaurant where conversation and the occasion are as important as the food.
The Fifth is expensive: starters $20–36, steaks $55–150 (depending on cut, size, and aging), sides $12–20, desserts $14–20. A full dinner with wine is $120–200 per person before tax and gratuity. The price reflects the premium beef, the dry-aging program, the wine cellar, and the formal service.
Reservations are recommended, particularly for Friday and Saturday dinner. Book via OpenTable or the restaurant's website. The bar accepts walk-ins for a la carte dining and wine by the glass.
Frequently Asked Questions
What makes The Fifth different from other Toronto steakhouses?
The Fifth combines a dedicated dry-aging program (21–45 days in-house), an extensive wine cellar with over 500 labels, and the formal service standards of the Liberty Entertainment Group. The dry-aged ribeye and the bone-in strip loin are the kitchen's signatures, and the wine cellar tour offers access to rare and allocated bottles.
How much does dinner at The Fifth cost?
Starters $20–36, steaks $55–150 (depending on cut, size, and aging), sides $12–20, desserts $14–20. A full dinner with wine is $120–200 per person before tax and gratuity. The dry-aged cuts command premium pricing due to the aging process and moisture loss.
Can you tour the wine cellar?
Yes — the wine cellar tour is available by request and showcases the collection of over 500 labels, with particular depth in Cabernet Sauvignon, Bordeaux, and Napa Valley. The tour includes rare and allocated bottles that are not available through standard retail channels.
Do you need a reservation?
Reservations are recommended, especially for Friday and Saturday dinner. Book via OpenTable or the restaurant's website. The bar accepts walk-ins for a la carte dining and wine by the glass.