May Tower II — Rental Market Data

May Tower II has four active listings as of August 31, 2026, with asking rents ranging from $2,200 to $2,600 per month, an average of $2,475 and a median of $2,550. The average suite measures 805 square feet at an asking rate of $3.09 per square foot, and 100 percent of available inventory is two-bedroom, positioning the building squarely in the multi-bedroom family segment rather than compact entry-level or executive three-bedroom layouts.

All four active listings at May Tower II are two-bedroom units, representing 100 percent of current inventory. This small selection averages $2,475 per month across 805 square feet at $3.09 per square foot, with no one-bedroom or three-bedroom tiers currently on the market. Renters seeking alternative bedroom configurations must look to the broader Scarborough City Centre submarket, which holds 77 active listings.

May Tower II's four active listings span a $400 spread from a $2,200 entry point to a $2,600 peak, an 18.2 percent range with a median asking rent of $2,550 per month. The entry-level suite is a 670-square-foot two-bedroom at $3.28 per square foot, while the peak unit is an 850-square-foot two-bedroom priced at $3.06 per square foot, reflecting a clear inverse relationship between suite size and rate density within this small sample.

Den premiums and marginal cost per square foot for extra den space cannot be quantified at May Tower II due to insufficient paired listing data. Active parking stall costs also cannot be reliably isolated, as the available sample contains anomalous outliers that prevent a defensible premium estimate from being stated.

May Tower II's average asking rent of $2,475 per month sits just below the Scarborough City Centre submarket average of $2,480, while its $3.09 per square foot rate trades 6.9 percent under the submarket asking benchmark of $3.32 per square foot. The building's active suites average 805 square feet, which is 58 square feet larger than the submarket implied average of 747 square feet, explaining why nominal rents align closely despite the lower rate density. May Tower II accounts for four out of 77 available listings in the submarket, representing roughly 5 percent of total active inventory.

May Tower II's average realized lease rent of $2,439 per month runs $40 above the four-comp benchmark of $2,399, positioning the building modestly above its immediate peer set. Against May Tower at 1 Lee Centre Dr (60 metres, 4 closed leases, $2,588 average rent, $2.96 per square foot, 875 square feet), the subject trades at a lower monthly rent of $149. Ellipse II at 38 Lee Centre Dr (120 metres, 21 closed leases, $2,283 average rent, $3.30 per square foot, 708 square feet) shows the subject commanding a higher monthly rent of $156. Ellipse I at 36 Lee Centre Dr (180 metres, 23 closed leases, $2,241 average rent, $3.30 per square foot, 691 square feet) likewise sees the subject at a higher monthly rent of $198. Hillsborough Court II at 8 Lee Centre Dr (230 metres, 5 closed leases, $2,483 average rent, $3.10 per square foot, 826 square feet) places the subject at a lower monthly rent of $44. All four competitors recorded active lease transactions over the trailing 180 days, so every figure cited reflects realized pricing rather than asking or listing data.

May Tower II leases at $3.18 per square foot with an average suite of 772 square feet, sitting one cent above the comp average of $3.17 per square foot and three square feet below the 775-square-foot peer mean. Against May Tower, the subject commands a $0.22 per square foot (7.4 per cent) premium while providing 103 fewer interior square feet; the lower nominal rent of $149 is driven entirely by that smaller footprint rather than a weaker per-square-foot rate. Versus Ellipse II, the subject trades at a $0.12 per square foot (3.6 per cent) discount yet delivers 64 more interior square feet, meaning the $156 higher monthly rent reflects the larger suite size, not a stronger asset valuation per unit of space. The same pattern holds against Ellipse I: a $0.12 per square foot discount with 81 additional square feet accounts for the $198 higher rent. Against Hillsborough Court II, the subject commands a $0.08 per square foot (2.6 per cent) premium while offering 54 fewer square feet, with the $44 lower rent again attributable to the reduced interior area. In every pairing, the nominal rent variance tracks the square-footage delta rather than a divergence in per-square-foot pricing power.

May Tower II fields the most comprehensive amenity package in the Lee Centre cluster with 16 listed facilities, outpacing every nearby competitor. The building's signature differentiators include a Basketball Court, Squash & Racquetball Court, Badminton Court, Rooftop Terrace, BBQ Area, Children's Playground (outdoor), and an indoor Kids' Play Room—features absent from May Tower, Ellipse I, Ellipse II, and Hillsborough Court II. May Tower offers a Garden & Courtyard that the subject lacks, while both Ellipse buildings include a Media & Theatre Room not found at May Tower II, and Hillsborough Court II adds Table Tennis and a Card Room. The subject's aquatic and wellness core (Indoor Pool, Hot Tub & Jacuzzi, Sauna & Steam Room, Gym & Fitness Centre) is shared across all four peers, making the sports-court cluster, rooftop outdoor space, and dedicated children's programming the genuine lifestyle differentiators. This package targets families with active children and multi-sport households who want on-site recreation beyond a standard gym-and-pool offering, as well as remote workers who benefit from the Meeting Room and Library & Reading Room in a building that also provides a full outdoor play environment for younger residents.