Greystone Walk III — Rental Market Data

Greystone Walk – Phase 3's all-time average realized rent of $2,525 per month sits $24 above the three-active-comp blended benchmark of $2,501, with the spread driven by its larger suite footprint rather than a higher per-square-foot rate. Greystone Walk – Phase 2 (3 Greystone Walk Dr, 0.13 km) closed two leases at an average of $2,750 per month, $2.82 per square foot, and 975 square feet—$225 more per month than the subject on identical square footage. Greystone Walk – Phase 1 (5 Greystone Walk Dr, 0.24 km) recorded five closed leases averaging $2,440 per month, $2.79 per square foot, and 880 square feet, placing the subject $85 higher on a monthly basis. Imagine Condos (3560 St Clair Ave E, 0.99 km) closed four leases at $2,313 per month, $3.00 per square foot, and 775 square feet, with the subject commanding $212 more per month. The Bluffs (3734–3736 St Clair Ave E, 0.75 km) recorded zero closed leases in the trailing 180 days and therefore carries no realized rent benchmark.

Greystone Walk – Phase 3 trades at a per-square-foot discount to every active nearby competitor while delivering more interior space, positioning it as a value-oriented option in the Scarborough West pocket. Against Greystone Walk – Phase 2, the subject offers identical 975-square-foot suites at $2.60 per square foot versus the comp's $2.82—a $0.22 per-square-foot discount that translates to $225 less per month on the same footprint. Versus Greystone Walk – Phase 1, the subject provides 95 more square feet (975 vs. 880) at $2.60 per square foot against the comp's $2.79, a $0.19 per-square-foot discount; the $85 higher monthly rent is entirely a function of the larger interior footprint, not a premium rate. Against Imagine Condos, the subject delivers 200 more square feet (975 vs. 775) at $2.60 per square foot versus $3.00—a $0.40 per-square-foot discount—while the $212 higher monthly rent again reflects the additional 200 square feet rather than a higher valuation per unit of space.

Greystone Walk – Phase 3 carries a 14-item amenity suite that includes both indoor and outdoor pools, a hot tub and jacuzzi, a library and reading room, and a dedicated dog run—features that collectively distinguish it from every nearby competitor. Greystone Walk – Phase 2 (0.13 km) matches the pool, gym, racquetball, and rooftop offerings but omits the hot tub and jacuzzi, the library and reading room, and the dog run, substituting a meeting room instead. Greystone Walk – Phase 1 (0.24 km) likewise lacks the library and dog run, offering a media and theatre room in their place. Imagine Condos (0.99 km), built in 2016, provides no pools, no sauna or steam room, no tennis or squash courts, no games or billiards room, and no dog run, relying instead on a lobby, BBQ area, and meeting room. The Bluffs (0.75 km) offers a library and hobby room but no aquatic facilities, racquet sports, or pet amenities. This full-service lifestyle package—aquatic recreation, wellness, racquet sports, a dedicated reading space, and pet infrastructure—best serves families and long-tenure professionals in Scarborough West who prioritize on-site recreation and community amenities over the compact, amenity-light profiles of newer St. Clair corridor buildings.