The Carnaby — Rental Market Data

The Carnaby carries five active listings as of August 31, 2026, with asking rents ranging from $2,450 to $3,000 per month, an average of $2,680 and a median of $2,750. Average suite size across active inventory is 670 square feet at an asking rate of $4.05 per square foot. The two-bedroom layout dominates at 60 percent of available units, while the remaining 40 percent splits evenly between a single one-bedroom and a single one-bedroom-plus-den, meaning current inventory leans toward multi-bedroom executive layouts rather than compact entry-level suites.

The two-bedroom layout is the dominant active tier at The Carnaby with three listings representing 60 percent of available inventory, averaging $2,833 per month across 750 square feet at $3.78 per square foot. The one-bedroom tier holds a single listing at $2,450 per month for 550 square feet at $4.45 per square foot, and the one-bedroom-plus-den tier likewise carries one unit at the same $2,450 rent, 550 square feet, and $4.45 per square foot. Both entry-level tiers are single-listing situations, so renters in those categories face no alternative options within the building.

The Carnaby's active asking rents span from $2,450 to $3,000 per month, a dollar spread of $550 and a percentage spread of 22.4 percent. The median asking rent sits at $2,750 per month. The entry-level suite is a one-bedroom-plus-den at 550 square feet priced at $4.45 per square foot, while the peak listing is a two-bedroom at 750 square feet priced at $4.00 per square foot, meaning the larger suite actually commands a lower per-square-foot rate despite the higher monthly outlay.

The Carnaby's active den premium and square-footage delta are both zero, indicating that den space cannot be reliably isolated as a separate premium from current listings. With no quantified marginal cost per square foot for additional den area, renters should treat the one-bedroom-plus-den unit as functionally equivalent in pricing to the standard one-bedroom at $2,450 per month. Verified active parking costs $250 per month, and no historical leased parking premium is available due to insufficient paired data.

The Carnaby's active asking rent of $2,680 per month at $4.05 per square foot sits below the Toronto West submarket asking benchmark of $3,051 per month at $4.72 per square foot, a 14.2 percent discount on a per-square-foot basis. The lower nominal monthly rent is partly driven by the building's current inventory skewing toward larger two-bedroom suites at 750 square feet, which dilutes the per-square-foot rate compared to the submarket's mix. The Carnaby accounts for five of the 50 active listings in the Toronto West submarket, representing 10 percent of total available inventory in the area.

The Carnaby's average closed lease of $2,625 per month sits $23 below the four-building comp average of $2,648, placing it in the lower half of this immediate cluster. Twenty at 20 Gladstone Ave (0.06 km) leases at $2,607 per month, $4.37 per square foot across 614 square feet; The Brixton at 410 Dufferin Street (0.09 km) commands $2,936 per month at $3.91 per square foot over a larger 750-square-foot footprint; 8 Gladstone at 8 Gladstone Ave (0.09 km) rents for $2,217 per month, $4.03 per square foot in 550-square-foot suites; and Two Gladstone at 2 Gladstone Ave (0.12 km) achieves $2,833 per month, $5.38 per square foot in 573-square-foot units. The Carnaby therefore undercuts the two premium-priced competitors by roughly $200–$310 per month while exceeding the budget-oriented 8 Gladstone by about $408.

The Carnaby leases at $4.24 per square foot across an average 625-square-foot suite, a rate that undercuts Two Gladstone's $5.38 per square foot by $1.14 (21.2%) and Twenty's $4.37 per square foot by $0.13 (3.0%), while carrying a modest $0.33 per square foot premium over The Brixton and $0.21 over 8 Gladstone. In practical terms, a tenant at The Carnaby gains 11 additional square feet over Twenty, 75 more than 8 Gladstone, and 52 more than Two Gladstone, yet pays less per square foot than all three. The one exception is The Brixton, where the subject's 625-square-foot average is 125 square feet smaller than the comp's 750-square-foot suites; here the $0.33 per square foot premium reflects a trade-off of compactness for a lower absolute monthly rent of $2,625 versus $2,936. For renters prioritizing interior space per dollar, The Carnaby delivers the strongest value in this cluster.

The Carnaby's eight-amenity package—spanning concierge and security, a gym and fitness centre, a party and lounge room, a media and theatre room, a rooftop terrace, a garden and courtyard, a BBQ area, and a games and billiards room—gives it a broader lifestyle footprint than any single competitor in this 120-metre radius. The games and billiards room is exclusive to The Carnaby; no nearby comp offers a dedicated recreation or billiards space. The garden and courtyard is absent from The Brixton, 8 Gladstone, and Two Gladstone, giving The Carnaby a private outdoor green space that three of four competitors lack. The media and theatre room and gym and fitness centre are both missing from The Brixton and Two Gladstone, whose amenity lists are limited to concierge, party room, meeting room, BBQ, or rooftop. Conversely, 8 Gladstone differentiates with a pet wash station and auto share service that The Carnaby does not provide, and all three of those competitors include a meeting room that The Carnaby omits. The Carnaby's package is best suited to young professionals and small households who value a social, recreation-heavy building environment—billiards nights, courtyard gatherings, and rooftop BBQs—over the business-oriented meeting rooms and pet services found at neighbouring properties.