One man is in custody following a stabbing outside an apartment building in Downsview last night.

It happened outside a building on Keele Street, near Downsview Park Boulevard, at around 11:30 p.m.

One man, believed to be in his 40s, was taken to hospital in serious but non-life-threatening condition.

A suspect, who police say is also in his 40s, was arrested and charged with uttering threats, possession of weapons for a dangerous purpose, aggravated assault and possession of weapons dangerous to public peace.

Police say the suspect was drinking at a party prior to the assault.

The investigation is ongoing.