Line 5 - South Tower — Rental Market Data

Line 5 - South Tower has eight active listings as of August 31, 2026, with asking rents ranging from $1,000 to $3,500 per month, an average of $1,991 and a median of $2,025. The average suite measures 766 square feet at an asking rate of $3.15 per square foot, and the one-bedroom layout dominates the active inventory at 50 percent of available units. Current availability leans toward compact entry-level one-bedroom suites rather than multi-bedroom executive layouts, with only a single two-bedroom unit on the market.

The one-bedroom layout is the dominant active tier at Line 5 - South Tower, accounting for four of eight listings or 50 percent of inventory at an average asking rent of $1,488 per month across 963 square feet and $1.83 per square foot. The one-bedroom plus den tier holds two units at 25 percent share with an average rent of $2,263 per month over 513 square feet at $4.43 per square foot, while the two-bedroom and studio tiers each carry a single listing at 12.5 percent share, asking $3,500 per month for 850 square feet and $1,950 per month for 399 square feet respectively.

Line 5 - South Tower's active asking rents span a $2,500 spread from a minimum of $1,000 to a peak of $3,500 per month, a 250 percent range that reflects the building's mixed layout availability. The median asking rent sits at $2,025 per month. The entry-level suite is a one-bedroom measuring 1,100 square feet at $0.91 per square foot, while the peak listing is a two-bedroom at 850 square feet and $4.12 per square foot, illustrating how the spread is driven by layout tier rather than unit quality alone.

Line 5 - South Tower carries an active den premium of $775 per month, though the square footage delta between den and non-den suites is not cleanly quantifiable from the current paired sample. The marginal cost per additional square foot for den space cannot be reliably calculated given the limited sample. Active parking stall premiums cannot be reliably isolated from current listings due to insufficient paired data, and no verified parking fee benchmark exists in the building's recent lease history.

Line 5 - South Tower's active asking rent of $1,991 per month at $3.15 per square foot compares favorably against the North Midtown submarket asking benchmark of $2,803 per month and $4.27 per square foot, placing the building 26.2 percent below the submarket rate per square foot. The lower nominal monthly outlay is reinforced by the building's compact average suite size of 766 square feet, meaning tenants are paying less in absolute terms while also receiving less space than the submarket average. Line 5 - South Tower represents eight of the 232 active listings in the North Midtown submarket, or approximately 3.4 percent of total available inventory.

Line 5 – South Tower's average closed lease rent of $2,376 per month runs $42 above the four-building comp average of $2,334, while individual competitors bracket the subject on both sides of that figure. Line 5 – North Tower at 117 Broadway Ave leases at $2,423 per month ($4.10 per square foot on 605 square feet), placing it $47 above the subject; Citylights on Broadway – North Tower at 99 Broadway Ave comes in at $2,313 per month ($4.26 per square foot on 550 square feet), $63 below; Citylights on Broadway – South Tower at 195 Redpath Ave averages $2,250 per month ($4.19 per square foot on 547 square feet), $126 below; and 188 Redpath at 188 Redpath Ave posts $2,350 per month ($3.31 per square foot on 713 square feet), just $26 under the subject. The spread across this micro-market is relatively tight, with no single competitor deviating more than 5.6 percent from the subject's realized rent.

Line 5 – South Tower trades at $4.14 per square foot on an average 586-square-foot suite, a rate that sits at a $0.04 per square foot premium over its sister tower but at a discount to both Citylights buildings and well above the 2000-era 188 Redpath. Against Citylights on Broadway – North Tower, the subject offers 36 more square feet of interior space at a $0.12 per square foot lower rate, giving tenants roughly 586 square feet for less per-foot cost than the comp's 550-square-foot layouts at $4.26 per square foot. The same logic holds versus Citylights on Broadway – South Tower, where the subject provides 39 additional square feet at a $0.05 per square foot discount. Conversely, compared with Line 5 – North Tower the subject delivers 19 fewer square feet at a slightly higher per-foot rate, and against 188 Redpath it offers 127 fewer square feet at a $0.83 per square foot premium—reflecting the building's newer construction, full amenity stack, and modern finishes that justify the per-foot delta for renters prioritizing lifestyle over raw floor area.

Line 5 – South Tower's 16-amenity package at 127 Broadway Ave distinguishes itself from nearby peers through a combination of creative, wellness, and work-oriented features that several competitors simply do not offer. The building's dedicated Art Studio is absent from all four comparables, giving residents a space for hands-on creative work that no rival in the immediate radius provides. The Pet Wash Station is missing from both Citylights towers and 188 Redpath, and the Juice & Coffee Bar is likewise unavailable at those three properties, making everyday convenience a clear differentiator. A full Business Centre—distinct from the basic Meeting Room at Citylights South or the shared spaces at 188 Redpath—serves remote workers who need professional-grade meeting and collaboration facilities. The Library & Reading Room, present at the subject and its sister tower but absent from both Citylights buildings, adds a quiet retreat for study or leisure. Together, these features position Line 5 – South Tower as the strongest fit for young professionals and creative tenants in North Midtown who want a turnkey lifestyle package blending wellness, social gathering, pet-friendly convenience, and productive workspaces without leaving the building.