The Lanes Residences — Rental Market Data

The Lanes Residences has one active listing as of August 31, 2026, asking $2,400 per month with both the minimum and maximum rent at that single figure. The suite spans 650 square feet at $3.69 per square foot, and the 1-Bedroom + Den configuration represents 100 percent of current available inventory. With only one unit on the market, the building offers no tiered choice between compact entry-level studios and multi-bedroom executive layouts; renters must either take this specific den-equipped unit or look to the broader East York submarket's 83 other active listings.

The sole active layout at The Lanes Residences is a 1-Bedroom + Den, representing 100 percent of the building's one available listing. That single unit asks $2,400 per month on 650 square feet, equating to $3.69 per square foot, with no two-bedroom, three-bedroom, or studio alternatives currently on the market. Because this is a single-listing sample, the tier cannot be characterized as a broader inventory trend; it reflects one specific unit's availability rather than a building-wide layout distribution.

The Lanes Residences carries a single active asking rent of $2,400 per month, meaning the minimum entry price, peak asking price, and median all converge at that figure with a zero-dollar and zero-percent spread. The entry-level suite is a 1-Bedroom + Den measuring 650 square feet at $3.69 per square foot, and because no second listing exists, there is no peak-tier contrast to draw. Renters evaluating this unit should note that the $2,400 ask sits $33 per month below the building's 90-day realized lease average of $2,433, a gap attributable to the compact 650-square-foot footprint versus the 700-square-foot historical average.

The Lanes Residences does not currently have a quantified den premium or square-footage delta, as the single active listing already includes the den within its 650-square-foot measurement, making a marginal cost-per-square-foot calculation for extra den space inapplicable. Parking stall costs also cannot be reliably isolated from the available transaction data; the paired sample is insufficient to separate a verified monthly parking add-on from the base rent, so no specific dollar figure should be assumed. Renters interested in parking availability should contact the building's leasing office directly for current stall allocation and pricing.

The Lanes Residences asks $2,400 per month at $3.69 per square foot, compared to the East York submarket average asking rent of $2,343 per month and $3.27 per square foot—a 12.8 percent rate premium on a per-square-foot basis. The nominal monthly rent is only $57 above the submarket average, but that gap narrows when accounting for suite size: the building's 650-square-foot active unit is 67 square feet smaller than the submarket implied average of 717 square feet, meaning the higher per-square-foot rate partially offsets the compact footprint. The Lanes Residences holds one out of 84 active listings in the East York submarket, representing roughly 1.2 percent of total available inventory.

The Lanes Residences realized an average lease rent of $2,405 per month over the trailing year, sitting $445 below the overall comp benchmark of $2,850 set by 45 Sunrise Condos at 45 Sunrise Avenue (0.71 km, two closed leases, $2.77 per square foot, 1,038 square feet average). The three remaining nearby competitors—994 O'Connor Drive (0.49 km, built 1965), Garden Terrace at 939–953 O'Connor Drive (0.58 km, built 1991), and Concordia at 25 Sunrise Avenue (0.81 km, built 1979)—each recorded zero closed leases over the past 180 days and therefore carry no realized rent benchmark against which to measure the subject. The $445 monthly gap between The Lanes Residences and 45 Sunrise Condos is not a valuation discount; it reflects the subject's 338-square-foot smaller interior footprint, which compresses the total monthly figure even as the per-square-foot rate runs higher.

The Lanes Residences trades at $3.53 per square foot on a 700-square-foot average suite, a 27.4 percent premium over 45 Sunrise Condos' $2.77 per square foot, while providing 338 fewer interior square feet than that competitor's 1,038-square-foot average. For a renter comparing the two, the trade-off is straightforward: 45 Sunrise Condos delivers roughly 340 additional square feet of living space for $445 more per month, making it the larger-footprint option at a lower per-square-foot rate, whereas The Lanes Residences offers a tighter, more efficient layout at a higher rate per square foot. The subject's nominal rent of $2,405 per month is lower than 45 Sunrise Condos' $2,850, but that variance is driven entirely by the compact 700-square-foot footprint rather than a weaker asset position. Tenants at The Lanes Residences also negotiated an average discount of $75 per month (2.98 percent below asking), with 75 percent of leases closing under the listed rate, saving roughly $900 per year—a tenant-favorable dynamic that effectively narrows the gap with the larger Sunrise Avenue product.

The Lanes Residences offers a ten-feature lifestyle package that includes a rooftop terrace, BBQ area, bowling alley, yoga studio, media and theatre room, dining room and kitchen, gym and fitness centre, party and lounge room, games and billiards room, and concierge with security—distinguishing it sharply from the older peer set on the O'Connor and Sunrise corridors. Against 45 Sunrise Condos (0.71 km), the subject adds a rooftop terrace, BBQ area, bowling alley, yoga studio, media and theatre room, and a full dining room and kitchen, while 45 Sunrise retains an outdoor pool, sauna and steam room, tennis and pickleball court, and shared laundry that The Lanes Residences does not provide. Garden Terrace (0.58 km) and Concordia (0.81 km) both list sauna and steam rooms plus meeting rooms absent from the subject, while 994 O'Connor Drive (0.49 km) offers only a shared laundry room. The Lanes Residences' emphasis on social dining, active recreation (bowling, yoga, rooftop BBQ), and media entertainment targets young professionals and small households who prioritize communal lifestyle programming and indoor social spaces over aquatic or court-sport facilities, making it the strongest fit for renters who value a turnkey social environment within a compact, efficiently priced East York suite.