Monaco — Rental Market Data

Monaco's average realized lease rent of $2,383 per month sits $161 below the four-comp benchmark of $2,544 and $244 below the North York City Centre submarket average of $2,627. The Monet at 60 Byng Ave (60 metres, 16 closed leases) averaged $2,364 per month at $3.71 per square foot across 643 square feet, placing Monaco $19 higher in nominal rent. Grand Triomphe II at 500 Doris Ave (90 metres, 6 closed leases) averaged $2,722 per month at $3.48 per square foot over 783 square feet, a $339 premium over Monaco. Azura at 15 Holmes Ave (90 metres, 36 closed leases) realized $2,420 per month at $4.21 per square foot across 598 square feet, $37 above Monaco. Grand Triomphe I at 10 Northtown Way (130 metres, 22 closed leases) averaged $2,671 per month at $3.53 per square foot over 771 square feet, $288 higher than Monaco's realized rent.

Monaco's leased rate of $2.74 per square foot across an average 883-square-foot suite undercuts every active competitor on a per-square-foot basis while delivering the largest interior footprint in the immediate cluster. Against The Monet ($3.71 per square foot, 643 sq ft), Monaco trades at a $0.97-per-square-foot discount (26.1%) yet provides 240 more interior square feet, meaning the $19 higher nominal rent is entirely a function of the larger suite rather than a rate premium. Versus Grand Triomphe II ($3.48 per square foot, 783 sq ft), Monaco offers a $0.74-per-square-foot discount (21.3%) and 100 additional square feet, with the $339 lower monthly rent reflecting both the lower rate and the modest size advantage. Against Azura ($4.21 per square foot, 598 sq ft), Monaco's $1.47-per-square-foot discount (34.9%) and 285 extra square feet produce a near-parity nominal rent that is $37 lower despite the substantially larger footprint. Grand Triomphe I ($3.53 per square foot, 771 sq ft) shows the same pattern: Monaco trades at a $0.79-per-square-foot discount (22.4%) with 112 more square feet, yielding a $288 lower monthly rent. In every pairing, the rent differential is driven by interior footprint and per-square-foot rate rather than asset valuation, making Monaco the volume-and-value play in this pocket.

Monaco's seven-amenity package—Concierge & Security, Gym & Fitness Centre, Indoor Pool, Sauna & Steam Room, Party & Lounge Room, Meeting Room, and Garden & Courtyard—trails every one of its four nearby competitors in breadth, which field 11 to 16 amenities each. The building's aquatic and wellness core (Indoor Pool, Sauna & Steam Room) is absent from Azura at 15 Holmes Ave, giving Monaco a genuine differentiator against that 2022 competitor, though The Monet, Grand Triomphe II, and Grand Triomphe I all match or exceed that offering. What Monaco lacks across the board is the rooftop terrace, BBQ area, games and billiards room, and media or theatre room that appear in three or four of the four competitors; The Monet additionally offers a business centre, library, dining kitchen, massage room, and his-and-hers change rooms that have no Monaco equivalent. The practical trade-off is a quieter, lower-density residential experience with pool and sauna access for tenants who prioritize interior square footage and a straightforward lifestyle package over rooftop entertainment and extensive recreation suites. This profile best serves cost-conscious professionals and small families in North York City Centre who want a full-size two-bedroom suite with pool access at a below-market per-square-foot rate, without paying the amenity premium embedded in the newer or more amenity-dense alternatives.