The French Quarter I — Rental Market Data

The French Quarter I holds two active listings as of August 31, 2026, with asking rents spanning $5,800 to $6,200 per month, an average of $6,000 and a median of $6,000. Average suite size across both listings is 1,330 square feet at an asking rate of $4.62 per square foot. Inventory is split evenly between a two-bedroom layout and a two-bedroom-plus-den layout, each representing 50 percent of active availability, and the mix leans toward larger multi-bedroom executive suites rather than compact entry-level one-bedroom units.

The dominant active layout at The French Quarter I is the two-bedroom, with one listing representing 50 percent of current inventory at an average asking rent of $5,800 per month across 1,100 square feet and a rate of $5.27 per square foot. The second tier, a two-bedroom-plus-den, also holds one listing at 50 percent share, asking $6,200 per month over 1,559 square feet at $3.98 per square foot. Both tiers are single-listing samples, so each figure reflects an individual deal rather than a tier average.

The French Quarter I's active availability spans a minimum entry rent of $5,800 per month to a peak asking rent of $6,200 per month, a dollar spread of $400 and a percentage spread of 6.9 percent. The median asking rent sits at $6,000 per month, anchoring the midpoint of this narrow range. The entry-level suite is a two-bedroom at 1,100 square feet priced at $5.27 per square foot, while the peak suite is a two-bedroom-plus-den at 1,559 square feet priced at $3.98 per square foot, meaning the larger layout actually commands a lower per-square-foot rate despite the higher monthly rent.

The French Quarter I's active den premium and associated square-footage delta are unquantified due to insufficient paired samples between comparable two-bedroom and two-bedroom-plus-den listings. With only one unit in each tier, a reliable marginal cost per square foot for the additional den space cannot be isolated from current data. Parking stall premiums also cannot be reliably determined; the active sample contains no consistent paired data, and historical leases likewise lack sufficient matched records to establish a verified monthly parking benchmark.

The French Quarter I's active asking rent of $6,000 per month and $4.62 per square foot compare against St. Lawrence submarket benchmarks of $2,934 per month and $4.51 per square foot. The building's nominal rent is more than double the submarket average, yet this variance is explained by suite sizing: active listings average 1,330 square feet versus the submarket's typical one-bedroom footprint, so the per-square-foot premium is a modest 2.4 percent above the submarket asking rate. The building represents two of the 116 active listings in the St. Lawrence submarket, a share of roughly 1.7 percent.

The French Quarter I's one-year average lease rent of $3,000 per month runs $361 (13.7%) above the four-comparable average of $2,639, positioning it as the higher-priced option in this immediate cluster. The French Quarter II at 115 Richmond St E reports an average closed lease of $2,295 per month at $3.89 per square foot across 590-square-foot suites, representing a $705 (30.7%) discount to the subject's realized rate. St. James Square at 95 Lombard St E shows an average closed lease of $2,983 per month at $3.51 per square foot over 867 square feet, just $17 (0.6%) below the subject's benchmark. The Absolute Lofts at 77 Lombard St and The Lombard Court at 82 Lombard St recorded no closed lease transactions in the trailing 180-day window, so no realized rent figures are available for direct comparison at those two properties.

The French Quarter I leases at $4.35 per square foot on 706-square-foot average suites, a rate that sits above the submarket leased benchmark of $4.22 per square foot and above both of the two comps with realized transaction data. Against The French Quarter II, the subject trades at an $0.46-per-square-foot premium (11.8%) while offering 116 more square feet per unit, meaning a tenant gains meaningful interior space for a modest per-foot increase. Against St. James Square, the subject commands an $0.84-per-square-foot premium (23.9%) but provides 161 fewer square feet, so renters accept a tighter footprint in exchange for a newer 2004 building versus the 1990 construction at 95 Lombard St. The trade-off is clear: buyers of space per dollar gravitate toward St. James Square's 867-square-foot layouts at $3.51 per square foot, while those prioritizing a modern amenity package and a slightly larger suite than The French Quarter II's 590-square-foot units find the subject's 706-square-foot offering at $4.35 per square foot the stronger value in this micro-market.

The French Quarter I distinguishes itself in the Lombard Street corridor with a dedicated Garden & Courtyard, an outdoor amenity absent from all four nearby competitors, alongside a Rooftop Terrace and BBQ Area that together create a cohesive outdoor-living package. St. James Square at 95 Lombard St offers neither a rooftop terrace, a BBQ area, nor any garden space, relying instead on an indoor Sauna & Steam Room and a Party & Lounge Room for its amenity mix. The French Quarter II at 115 Richmond St E matches the subject on rooftop and BBQ access but adds a Games & Billiards Room and a Library & Reading Room that the subject does not provide, trading indoor recreation for the subject's open-air courtyard. The Absolute Lofts at 77 Lombard St shares the rooftop and BBQ features but includes a Library & Reading Room the subject lacks, while The Lombard Court at 82 Lombard St pairs its BBQ Area with a Sauna & Steam Room in place of any garden or courtyard space. For the renter demographic most served by this building's lifestyle package, the combination of a private garden courtyard, rooftop terrace, and outdoor BBQ area appeals to outdoor-oriented young professionals and small households in the St. Lawrence area who prioritize natural light, green space, and al-fresco socializing over indoor luxury add-ons like saunas or billiards rooms.