PCL Constructors Canada, the company managing the construction project at Front and Simcoe streets, told CTV News Toronto that the incident happened on Wednesday.
A 38-second video, uploaded to Instagram, shows the worker clinging to a rope while dangling several floors.
“Hang on, let your hat off, bro,” one person can be heard yelling at the worker in the video.
The video does not show the worker falling safely to the ground, but the company confirmed that the person got off and was not seriously injured.
The company said it is cooperating with “all relevant authorities” and the incident is being investigated.
Video of the incident was posted on Instagram on Tuesday by My S1, a company that advocates for workplace safety.
My S1 president Phillip Ferreira told CTV News Toronto that he was sent the video by an employee, who wishes to remain anonymous, who was at the construction site when the incident occurred.