Nuvo 2 — Rental Market Data

Nuvo 2 at 2333 Khalsa Gate has two active listings as of August 31, 2026, with asking rents ranging from $2,080 to $2,200 per month, an average of $2,140, and a median of $2,140. Both available suites average 552 square feet at a combined asking rate of $3.88 per square foot, with the inventory split evenly between a one-bedroom and a one-bedroom-plus-den layout. The current active mix skews toward compact entry-level one-bedroom footprints rather than the multi-bedroom executive layouts that dominate the building's historical lease record.

The dominant active layout at Nuvo 2 is the one-bedroom, with one listing representing 50 percent of available inventory at an average asking rent of $2,080 per month across 553 square feet and a rate of $3.76 per square foot. The one-bedroom-plus-den tier also holds one listing at 50 percent share, asking $2,200 per month for 550 square feet at $4.00 per square foot. Both tiers are single-listing samples, so renters should treat these figures as individual transactions rather than a broad market signal.

Nuvo 2's two active listings span a $120 spread from a minimum entry rent of $2,080 per month to a peak asking rent of $2,200 per month, a 5.8 percent range. The median asking rent sits at $2,140 per month, anchoring the mid-point of this narrow band. The entry-level suite is a one-bedroom at 553 square feet priced at $3.76 per square foot, while the peak listing is a one-bedroom-plus-den at 550 square feet carrying a $4.00 per square foot rate.

At Nuvo 2, the active den premium is quantified at $120 per month, though the den suite is actually 3 square feet smaller than the base one-bedroom, making the marginal cost per additional square foot uncalculable. Parking stall premiums cannot be reliably isolated from the current data due to an insufficient paired sample, so renters should confirm parking costs directly with the leasing office before signing a lease.

Nuvo 2's active asking average of $2,140 per month at $3.88 per square foot sits well below the Bronte submarket asking benchmark of $3,042 per month but 3.2 percent above the submarket asking rate of $3.76 per square foot. The nominal rent gap resolves through suite size: Nuvo 2's active listings average 552 square feet, a more compact footprint than the broader Bronte market, which pushes the per-square-foot rate slightly higher despite the lower monthly figure. The building represents two out of 48 available listings in the Bronte submarket, or roughly 4.2 percent of current active inventory.

Nuvo 2's average realized lease rent of $2,264 per month sits $133 below the four-comp blended benchmark of $2,397, with the spread driven primarily by the premium-priced WM Westmount pulling the average upward. Against individual peers, Nuvo 2 commands a $5-per-month higher rent than Nuvo 1 at 2343 Khalsa Gate (0.1 km, 23 closed leases, $2,259 average, $3.73 per square foot, 621 sq ft) and a $131-per-month higher rent than The Bronte at 3005 Pine Glen Rd (0.33 km, 15 closed leases, $2,133 average, $3.45 per square foot, 620 sq ft). Conversely, the subject trades at a $24-per-month lower rent than The Branch at 2450 Old Bronte Rd (0.42 km, 28 closed leases, $2,288 average, $3.62 per square foot, 646 sq ft) and a $642-per-month lower rent than WM Westmount at 2475 Old Bronte Road (0.49 km, 8 closed leases, $2,906 average, $3.65 per square foot, 800 sq ft). All four competitors posted active closed-lease volume, so no zero-transaction reference buildings require exclusion from this comparison.

Nuvo 2 leases at $3.70 per square foot on an average 615-square-foot suite, a rate that commands a premium over three of four nearby active alternatives while the subject's smaller interior footprint keeps the absolute monthly rent competitive. Against Nuvo 1 (0.1 km), the subject trades at a $0.03-per-square-foot discount (0.8% below the comp's $3.73 rate) and provides 6 fewer interior square feet, making it the only comp where Nuvo 2 offers a lower per-square-foot price. Against The Bronte (0.33 km), the subject commands a $0.25-per-square-foot premium (7.2% above the comp's $3.45 rate) while providing 5 fewer square feet, reflecting a clear valuation gap on a nearly identical footprint. Against The Branch (0.42 km), the subject commands a $0.08-per-square-foot premium (2.2% above $3.62) yet provides 31 fewer square feet; the $24 lower nominal rent is therefore driven by the reduced interior area rather than a weaker per-unit valuation. Against WM Westmount (0.49 km), the subject commands a $0.05-per-square-foot premium (1.4% above $3.65) while providing 185 fewer square feet, meaning the $642 lower monthly rent is almost entirely a function of the 800-versus-615-square-foot footprint differential rather than a discount in asset pricing.

Nuvo 2's 24-item amenity program is the most expansive in its immediate Bronte peer set, layering aquatic, court-sport, and wellness facilities that no single competitor replicates in full. The subject's Razul Room, Golf Simulator, Basketball Court, Tennis & Pickleball Court, Spin Studio, Hot Tub & Jacuzzi, and Putting Green are absent from The Bronte (which offers only a Library & Reading Room and Fire pit as differentiators) and WM Westmount (limited to a Business Centre beyond core fitness and rooftop access). Against The Branch—the closest amenity rival—the subject adds EV Charging, Spin Studio, Basketball Court, Tennis & Pickleball Court, Golf Simulator, and a Razul Room, while The Branch counters with an Indoor Pool, Business Centre, Library & Reading Room, and Rain Room. Nuvo 1 shares the most overlap with the subject but lacks the Yoga Studio, Hot Tub & Jacuzzi, Dining Room & Kitchen, EV Charging Station, Shared Laundry Room, and Razul Room. This lifestyle package—combining aquatic recreation, court sports, a dedicated wellness suite, and a unique Razul Room—targets the 25-to-40 professional renter who prioritizes on-site fitness variety, social gathering space, and resort-style leisure without leaving the building, distinguishing Nuvo 2 from the more utilitarian or single-theme amenity profiles of its Bronte neighbours.