Radio City I - North Tower — Rental Market Data

Radio City I – North Tower's all-time average realized lease rent of $2,667 per month runs $94 above the three-active-comp blended benchmark of $2,573, with the spread driven almost entirely by the premium over the 1908-era Westbury Manor Apartments. Against Radio City II – South Tower (281 Mutual Street, 0.05 km, 4 closed leases, $3,125 average rent, $4.52 per square foot, 700 sq ft), the subject trades at a lower monthly rent—$458 less per month—despite offering 52 fewer interior square feet. Westbury Manor Apartments (414 Jarvis Street, 0.12 km, 2 closed leases, $1,925 average rent, $2.73 per square foot, 750 sq ft) sits well below the subject at $742 less per month, a gap explained by the building's 1908 construction and limited amenity set. 411 Church (85 Wood Street, 0.13 km, 72 closed leases, $2,669 average rent, $4.49 per square foot, 601 sq ft) is nearly identical to the subject at just $2 per month lower. 412 Jarvis (412 Jarvis Street, 0.12 km) recorded zero closed leases in the trailing 180 days and therefore carries no realized rent benchmark for comparison.

Radio City I – North Tower leases at $4.16 per square foot across an average 648-square-foot suite, positioning it at a slight discount to the Cabbagetown submarket leased rate of $4.23 per square foot while offering a footprint that is 86 square feet smaller than the three-active-comp average of 684 square feet. Versus Radio City II – South Tower, the subject trades at a $0.36 per square foot (8.0%) discount and provides 52 fewer interior square feet, meaning the lower nominal rent is partly a function of the smaller suite rather than a weaker asset valuation. Against Westbury Manor Apartments, the subject commands a $1.43 per square foot (52.4%) premium while delivering 102 fewer interior square feet—a trade-off where renters pay more per unit of space for a 2005-built, amenity-rich product over a 1908 walk-up. With 411 Church, the subject trades at a $0.33 per square foot (7.3%) discount yet provides 47 more interior square feet, so the near-identical monthly rent ($2,667 vs. $2,669) actually reflects a larger physical footprint at the subject, making it the better value on space-per-dollar in that pairing.

Radio City I – North Tower fields a ten-item amenity suite—concierge and security, gym and fitness centre, yoga studio, sauna and steam room, games and billiards room, party and lounge room, meeting room, business centre, media and theatre room, and garden and courtyard—that is materially broader than its 1908-era neighbour but trails the 2019-built 411 Church on several lifestyle features. Compared with Radio City II – South Tower, the subject adds a dedicated yoga studio, games and billiards room, business centre, and garden and courtyard that the South Tower lacks. Westbury Manor Apartments offers only concierge and security plus a shared laundry room, making the subject's wellness, remote-work, and social programming a clear generational step up. Against 411 Church, however, the subject does not include a rooftop terrace, EV charging station, Tesla car share, spin studio, or BBQ area—features that skew 411 Church's package toward tech-savvy and outdoor-oriented renters. The subject's lifestyle package best serves professionals and young couples in Cabbagetown who prioritize indoor wellness (yoga, sauna), flexible remote-work infrastructure (business centre, meeting room), and social programming (games room, party lounge) without requiring rooftop or EV-charging amenities.