Meridian Residences I — Rental Market Data

Meridian Residences I lists 3 active units as of August 31, 2026, with asking prices ranging from $2,800 to $3,050 per month, an average monthly rent of $2,933 per month, and a median asking rent of $2,950 per month. Active suites average 850 square feet with an asking rate of $3.45 per square foot. Two-bedroom layouts dominate the active inventory with a 66.7% share, demonstrating that current availability leans toward multi-room executive layouts rather than compact entry-level configurations.

The dominant active layout at Meridian Residences I is the 2-Bedroom tier, accounting for 2 active listings and a 66.7% inventory share. Two-bedroom units command an average asking rent of $2,925 per month, a median asking rent of $2,925 per month, and an average square footage of 850 square feet at an average rate of $3.44 per square foot. The remaining 1-Bedroom tier represents 1 active listing and a 33.3% share, averaging $2,950 per month across 850 square feet at an asking rate of $3.47 per square foot.

Meridian Residences I presents a minimum entry rent of $2,800 per month and a peak asking rent of $3,050 per month, creating a dollar spread of $250 and an 8.9% percentage spread. The median asking rent sits at $2,950 per month. The entry-level suite consists of a 2-bedroom layout spanning 850 square feet listed at $3.29 per square foot, while the peak suite is a 2-bedroom unit spanning 850 square feet listed at $3.59 per square foot.

Meridian Residences I has unquantified den premiums with no active den square footage delta or marginal cost data available. Active parking premium data cannot be reliably isolated due to an insufficient paired sample, meaning parking fees cannot be accurately determined from current listings.

Meridian Residences I asks an average monthly rent of $2,933 per month at $3.45 per square foot, positioning the building below the submarket asking average rent of $2,753 per month and below the submarket asking benchmark of $3.84 per square foot. The lower nominal outlay compared to submarket asking benchmarks is driven by competitive pricing per square foot rather than more compact suite sizing. The building's asking rate per square foot tracks 10.2% below the submarket asking benchmark across its 3 active listings, which account for a minor share of the 216 total active listings in the submarket.

Meridian Residences I records an average lease rent of $2,867 per month, comparing against the overall competitive benchmark average of $2,612 per month across nearby properties such as Meridian Residences II, Sonata, The Continental - North Building, and C-Condominiums. Meridian Residences II at 25 Greenview Ave achieved an average lease rent of $2,654 per month at $3.62 per square foot across an average size of 746 square feet over 23 closed leases. Sonata at 7 Lorraine Dr recorded an average lease rent of $2,550 per month at $3.19 per square foot across an 800-square-foot average over 2 closed leases. The Continental - North Building at 509 Beecroft Rd logged an average lease rent of $2,642 per month at $3.38 per square foot across a 783-square-foot average over 6 closed leases. Finally, C-Condominiums at 503 Beecroft Rd posted an average lease rent of $2,600 per month at $3.47 per square foot across a 750-square-foot average over 1 closed lease.

Meridian Residences I delivers a competitive value proposition in North York City Centre, trading at an average of $3.53 per square foot across an average suite size of 830 square feet compared to the submarket lease average of $3.75 per square foot. Renters evaluating Meridian Residences I against Meridian Residences II at 25 Greenview Ave benefit from a lower rate per square foot, as Meridian Residences I trades at a $0.09 per square foot discount while providing 84 more interior square feet than its neighbor. When compared to Sonata at 7 Lorraine Dr, The Continental - North Building at 509 Beecroft Rd, and C-Condominiums at 503 Beecroft Rd, the subject building provides larger average floor plates ranging from 30 to 80 square feet of additional space. Renters trade off slightly higher gross monthly rents driven by these larger footprints in exchange for lower effective rates per square foot and more generous spatial layouts than many competing mid-2000s towers.

Meridian Residences I provides an extensive, resort-style amenity package that rivals or exceeds the offerings found across the immediate North York City Centre competitive set. Residents enjoy signature amenities including an indoor pool, a golf simulator, a rooftop terrace, a sauna and steam room, and a hot tub and jacuzzi, complemented by standard building features like 24-hour concierge and security and a fitness center. By comparison, Meridian Residences II features a similar pool and golf simulator setup but lacks the dedicated rooftop terrace found at the subject property. Sonata and The Continental - North Building offer more basic recreation packages centered around pools, gyms, and party rooms without specialized features like golf simulators or expansive outdoor green spaces. C-Condominiums includes a media and theatre room alongside standard fitness facilities, but does not match the comprehensive wellness and entertainment ecosystem established at Meridian Residences I. This amenity-rich profile particularly serves professionals and downsizers seeking a complete in-building lifestyle without leaving the property.