Boutique Condos I — Rental Market Data

Boutique Condos I at 21 Nelson Street has one active listing as of August 31, 2026, asking $3,400 per month with an identical average and median rent given the single-unit sample. The suite spans 850 square feet at $4.00 per square foot, and the entire active inventory is a one-bedroom plus den layout representing 100 percent of available units. This single listing leans toward a larger executive footprint rather than the compact entry-level one-bedrooms that have characterized the building's historical leasing activity.

The sole active layout at Boutique Condos I is a one-bedroom plus den, accounting for 100 percent of the building's one available listing. That single unit asks $3,400 per month for 850 square feet at $4.00 per square foot, with no studio, standard one-bedroom, or two-bedroom alternatives currently on the market. Renters seeking other bedroom configurations must look to the broader Entertainment District submarket, which holds 152 additional active listings across competing buildings.

Boutique Condos I's active pricing spread is $0 with a 0 percent range, as the single listing at $3,400 per month is both the minimum and maximum asking rent. The entry-level and peak suite are the same unit: a one-bedroom plus den at 850 square feet and $4.00 per square foot. With only one listing available, there is no internal price gradient for renters to compare across tiers within this building.

Boutique Condos I's active den premium and associated square-footage delta cannot be quantified from the current single-listing sample, as no paired comparison between a standard one-bedroom and a one-bedroom plus den exists in the active inventory. Verified historical lease data does confirm a parking stall premium of $225 per month across closed transactions, though the active parking premium cannot be reliably isolated due to an insufficient paired sample or anomalous outlier readings.

Boutique Condos I's active asking rent of $3,400 per month sits $142 below the Entertainment District submarket average asking rent of $3,542, while its $4.00 per square foot rate is 27.7 percent below the submarket asking benchmark of $5.53 per square foot. The nominal rent is modestly lower than the submarket average, but the 850-square-foot footprint is substantially larger than the compact suites that anchor many competing listings, which explains why the per-square-foot rate tells a more competitive story than the headline monthly figure. The building represents one out of 153 total active listings in the Entertainment District, or roughly 0.7 percent of available submarket inventory.

Boutique Condos I's trailing-12-month average realized rent of $2,503 per month sits $336 below the four-comparable benchmark of $2,839, with every active peer pricing above the subject. Studio 2 at 30 Nelson St (0.03 km, 23 closed leases) averages $3,027 per month at $4.99 per square foot across 650 square feet; Studio at 199 Richmond St W (0.08 km, 20 closed leases) averages $2,833 per month at $4.40 per square foot across 656 square feet; Boutique Condos II at 126 Simcoe St (0.09 km, 29 closed leases) averages $2,695 per month at $4.18 per square foot across 652 square feet; and University at 140 Simcoe St (0.1 km, 6 closed leases) averages $2,799 per month at $4.20 per square foot across 683 square feet. All four competitors recorded positive lease volume, so each figure represents a realized pricing benchmark rather than an asking-price reference.

Boutique Condos I leases at $4.20 per square foot across an average 613-square-foot suite, trading below the comp benchmark of $4.44 per square foot and 660 square feet while offering a lower nominal monthly rent than every active peer. Against Studio 2, the subject trades at a $0.79 per square foot discount (15.8% below) and provides 37 fewer interior square feet, so the $524-per-month rent gap reflects both a smaller footprint and a lower rate per square foot rather than a pure valuation discount. Against Studio, the subject offers a $0.20 per square foot discount (4.5% below) with 43 fewer square feet, producing a $330-per-month lower rent driven primarily by the reduced interior area. Boutique Condos II presents the tightest comparison: the subject commands a $0.02 per square foot premium (0.5% above) yet still rents for $192 less per month because its suites are 39 square feet smaller, meaning the nominal rent variance is a footprint effect, not an asset-valuation gap. University trades at identical $4.20 per square foot parity, and the subject's $296-per-month lower rent is entirely attributable to its 70 fewer interior square feet.

Boutique Condos I fields a 16-item amenity suite that includes both an indoor pool and an outdoor pool, private cabanas, an outdoor bar, and fire pits—features that collectively set it apart from the majority of its immediate peer set. Studio 2 and Studio each lack both pools, fire pits, cabanas, and the outdoor bar, instead offering media/theatre rooms and dining kitchens that the subject does not carry; University omits all aquatic and outdoor-living features in favour of a putting green and jogging track. Boutique Condos II is the closest amenity match, sharing indoor and outdoor pools plus fire pits, but it does not include private cabanas or an outdoor bar. The subject's package—dual-pool aquatic programming, cabana-style private outdoor space, and a rooftop bar—targets the young professional and small-couple renter who prioritizes resort-style social and wellness amenities over the media-room or dining-kitchen configurations favoured by the Studio pair and University.