A man has been hospitalized following a stabbing near the waterfront in downtown Toronto Thursday night.

It occurred in the area of Queens Quay West and Spadina Avenue. Police say they received the call for the stabbing at 8:20 p.m.

When they arrived, officers located a man in his 40s with a stab wound. Toronto paramedics say he is in serious but stable condition.

Meanwhile, police have released limited description of the male suspect. He is believed to be six-foot-one with a beard and was last seen wearing a green-hooded sweater.