Nuvo 2 at Essex — Rental Market Data

Nuvo 2 at Essex has five units actively listed as of August 31, 2026, with asking rents ranging from $2,500 to $4,200 per month, an average of $2,910 and a median of $2,550. The average suite in the current pool spans 770 square feet at an asking rate of $3.76 per square foot. One-bedroom-plus-den layouts dominate at 60 percent of available inventory, indicating the building's current vacancy leans toward compact entry-level suites rather than multi-bedroom executive configurations.

The dominant active layout at Nuvo 2 at Essex is the one-bedroom-plus-den, with three units representing 60 percent of the available inventory. Those den suites average $2,517 per month across 717 square feet, or $3.52 per square foot. The remaining two units are two-bedroom layouts averaging $3,500 per month at 850 square feet and $4.12 per square foot, giving renters a small but workable selection in both tiers.

Nuvo 2 at Essex spans a $1,700 asking spread, from a $2,500 entry point to a $4,200 peak, a 68 percent range across the five active listings. The median asking rent sits at $2,550 per month. The entry-level suite is a one-bedroom-plus-den at 700 square feet and $3.57 per square foot, while the peak listing is a two-bedroom at 850 square feet and $4.94 per square foot.

Den premiums and square-footage deltas at Nuvo 2 at Essex cannot be reliably quantified from the current active sample, as paired den versus non-den comparisons are insufficient. Parking stall costs likewise cannot be isolated; the available data contains anomalous outliers or too few matched pairs to produce a dependable monthly figure, so renters should confirm parking add-on pricing directly with the leasing office.

Nuvo 2 at Essex asks an average of $2,910 per month and $3.76 per square foot, compared to the Etobicoke Centre submarket asking benchmarks of $2,597 per month and $3.65 per square foot. The building's 3 percent premium on a rate-per-square-foot basis is partly offset by its more compact average suite of 770 square feet versus the submarket norm, meaning the nominal monthly gap narrows once footprint differences are accounted for. Nuvo 2 at Essex holds five of the 64 active listings in the Etobicoke Centre submarket, or roughly 7.8 percent of total available inventory.

Nuvo 2 at Essex realizes an average lease rent of $2,796 per month, which is $250 above the four-comp benchmark of $2,546 and $272 above the broader Etobicoke Centre submarket average of $2,524. Against individual peers, the subject commands a higher monthly rent than every active competitor: $132 more than Nuvo Essex at 35 Viking Lane (0.01 km, 7 closed leases, $2,664 average rent, $3.31 per square foot, 808 square feet), $319 more than Essex II at 5233 Dundas St W (0.09 km, 3 closed leases, $2,477 average rent, $2.97 per square foot, 841 square feet), $254 more than Parc Nuvo at Essex at 15 Viking Lane (0.11 km, 15 closed leases, $2,542 average rent, $3.57 per square foot, 721 square feet), and $296 more than Essex I at 5229 Dundas St W (0.13 km, 1 closed lease, $2,500 average rent, $3.57 per square foot, 700 square feet). All four competitors posted at least one closed lease in the trailing 180-day window, so every figure above reflects realized transaction data rather than asking-price speculation.

Nuvo 2 at Essex leases at $3.27 per square foot on an average 860-square-foot suite, a rate that undercuts the four-comp average of $3.36 per square foot while delivering 92 more interior square feet than the comp mean of 768. Against Nuvo Essex (0.01 km), the subject trades at a $0.04 per square foot discount yet provides 52 more interior square feet, so the $132 monthly rent premium is entirely a footprint effect rather than a rate markup. Versus Parc Nuvo at Essex (0.11 km), the subject offers a $0.30 per square foot discount and 139 additional square feet, meaning the $254 higher rent reflects the larger unit, not a per-area premium. The same pattern holds against Essex I (0.13 km): a $0.30 per square foot discount with 160 more square feet drives the $296 rent differential. The one exception is Essex II (0.09 km), where the subject commands a $0.30 per square foot premium over the comp's $2.97 rate while still providing 19 more square feet, making it the only peer where the subject earns both a rate and a size advantage simultaneously.

Nuvo 2 at Essex fields a 16-item amenity suite that includes an Internet Café, a feature absent from all four nearby competitors, giving it a distinct remote-work and digital-lifestyle edge in the Viking Lane and Dundas Street pocket. The subject's Yoga Studio is missing from both Nuvo Essex and Essex II, while its Business Centre is not offered at Parc Nuvo at Essex or Essex II, reinforcing a professional-tenant orientation that the older 2004–2005 Dundas Street buildings do not match. Conversely, Nuvo Essex and Essex II each carry a Library & Reading Room that the subject lacks, and Parc Nuvo at Essex provides an EV Charging Station with no equivalent at the subject. The subject's Rooftop Terrace is shared with Nuvo Essex and Parc Nuvo but absent from both Essex I and Essex II. This amenity mix—pairing aquatic and wellness facilities (indoor pool, hot tub, sauna, steam room) with a dedicated Internet Café, Business Centre, and Golf Simulator—best serves young professional renters in the 28-to-42 age band who prioritize hybrid-work infrastructure and on-site recreation over the library or EV-charging features that anchor the older or newer adjacent towers.