Reservoir Lounge

Located a few steps down from street level, this sub-basement space is cozy and cool. It's also one of the best spots in the city to enjoy a cocktail while listening to live jazz, blues and swing music. The vibe is part New York City, part New Orleans, while still being all Toronto. Cocktails and martinis are in the $10 range, which is very reasonable for Toronto. And for those looking for a bit more sustenance, the menu offers a selection of tapas, sandwiches and pizzas, and the kitchen's open until 2 a.m.