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One man was stabbed to death and another is in custody with serious injuries after violence erupted in a home near Allan Gardens on Thursday afternoon.

Toronto Police say the deadly incident — initially reported as a double stabbing — unfolded just after 4 p.m. at a home on George St. just south of Gerrard St. E.

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“Reports are that it originated in a residence in the area,” Const. Allyson Douglas-Cook said Thursday. “One man fled the scene and went into a nearby establishment where he collapsed.”

She said that man, whose injuries were “serious in nature” and required treatment in hospital, was later arrested after officers responded to the nearby home a discovered a second man inside suffering from “multiple stab wounds.”

“He was rushed to hospital with life-threatening injuries,” Douglas-Cook said of the second man.

Soon after, she confirmed that man died in hospital.

The man, whose name and age was not immediately released, becomes the city’s record-high 92nd murder victim of the year. That’s three more killings than Toronto’s previous record high of 89 homicides set way back in 1991.

Of the 92 slain in the city so far this year, 47 were shot, 20 were stabbed and the other 19 were killed by other means.

Anyone with information regarding the city’s latest killing is urged to call the Homicide Unit at 416-808-7400 or Crime Stoppers anonymously at 1-800-222-TIPS (8477).

cdoucette@postmedia.com