I can't believe nobody's mentioned Barberian's, on Elm Street just west of Yonge. Local business, old-school Canadiana on the walls, a board in the window with all the autographs of people like Sinatra, Liberace, the Apollo 11 astronauts, Milton Berle, Jerry Lewis who all ate there.
It's cozy, classy, priced about the same as the big American chains like Morton's or Ruth's Chris and for my money the best steak in town.
Been there since 1959 and still run by the Barberian family.