Studio 2 — Rental Market Data

Studio 2 has five active listings as of August 31, 2026, spanning $2,100 to $2,850 per month with an average asking rent of $2,600 and a median of $2,700. The average active suite measures 580 square feet at a $4.55 per square foot asking rate. The 1-Bedroom + Den layout dominates at 40 percent of available inventory, while the remaining three units are split evenly across Studio, 1-Bedroom, and 2-Bedroom tiers, giving the current mix a balanced spread from compact entry-level to multi-bedroom executive layouts.

The 1-Bedroom + Den leads active inventory with two listings representing 40 percent of available units, averaging $2,725 per month on 650 square feet at $4.19 per square foot. The Studio tier offers one unit at $2,100 per month for 400 square feet ($5.25 per square foot), the 1-Bedroom tier carries one listing at $2,600 for 550 square feet ($4.73 per square foot), and the 2-Bedroom tier has one unit at $2,850 for 650 square feet ($4.38 per square foot). Each of the three single-listing tiers represents a 20 percent share of the five-unit active pool.

Studio 2's active asking rents range from a $2,100 entry point to a $2,850 peak, producing a $750 spread or 35.7 percent differential across the five available units. The median asking rent sits at $2,700 per month. The entry-level Studio measures 400 square feet at $5.25 per square foot, while the peak 2-Bedroom offers 650 square feet at a more efficient $4.38 per square foot, reflecting the typical inverse relationship between suite size and per-square-foot cost.

Studio 2 carries a verified active den premium of $125 per month for an additional 100 square feet of den space, equating to a marginal cost of $1.25 per square foot for the extra room. Verified parking stalls are available at a $50-per-month add-on, a modest figure relative to the building's asking rents.

Studio 2's active asking rent of $2,600 per month and $4.55 per square foot rate both trail the Entertainment District submarket averages of $3,542 per month and $5.53 per square foot. The 17.7 percent per-square-foot discount versus the submarket asking benchmark is partly offset by the building's more compact 580-square-foot average suite compared to the submarket's larger typical footprint. Studio 2 accounts for five out of 153 active listings in the Entertainment District, a 3.3 percent share of total available inventory.

Studio 2's average realized lease rent of $3,035 per month runs $316 above the four-comp benchmark of $2,719, placing it at the top of this immediate peer set. Boutique Condos I at 21 Nelson St (0.03 km, 19 closed leases) averaged $2,550 per month at $4.19 per square foot over 626 square feet, making Studio 2's rent $485 higher per unit. Studio at 199 Richmond St W (0.08 km, 20 closed leases) averaged $2,833 per month at $4.40 per square foot over 656 square feet, with Studio 2 commanding $202 more in nominal rent. University at 140 Simcoe St (0.11 km, 6 closed leases) averaged $2,799 per month at $4.20 per square foot over 683 square feet, a $236 gap below Studio 2. Boutique Condos II at 126 Simcoe St (0.12 km, 29 closed leases) averaged $2,695 per month at $4.18 per square foot over 652 square feet, leaving Studio 2 $340 higher in realized rent. All four competitors posted active lease volume, so each figure reflects genuine market-clearing transactions rather than asking-price speculation.

Studio 2 leases at $4.21 per square foot over an average 677-square-foot suite, a combination that undercuts the submarket leased benchmark of $4.52 per square foot by roughly 6.4 percent while delivering more interior space than three of four nearby active competitors. Against Boutique Condos I (0.03 km), the subject trades at a $0.02 per-square-foot (0.5 percent) premium and provides 51 more interior square feet, so the $485 higher monthly rent reflects both a modest rate uplift and a meaningfully larger footprint. Against Studio (0.08 km), the subject trades at a $0.19 per-square-foot (4.3 percent) discount while still providing 21 more interior square feet; here the $202 higher nominal rent is driven entirely by the larger suite size rather than a higher per-unit-area rate, giving renters more space for a proportionally smaller rent increase. Against University (0.11 km), the subject commands a $0.01 per-square-foot (0.2 percent) premium but provides 6 fewer interior square feet, a near-parity rate on a slightly tighter footprint. Against Boutique Condos II (0.12 km), the subject trades at a $0.03 per-square-foot (0.7 percent) premium and provides 25 more interior square feet, so the $340 rent differential is split between a small rate uplift and additional living area.

Studio 2 offers a 12-item amenity suite anchored by a Media & Theatre Room, a full Dining Room & Kitchen, and a complete wellness stack (Yoga Studio, Sauna & Steam Room, Hot Tub & Jacuzzi) that collectively differentiate it from three of four nearby peers. Boutique Condos I and Boutique Condos II both feature indoor and outdoor pools, private cabanas, outdoor bars, and business centres—lifestyle amenities absent from Studio 2—while the subject counters with its dedicated dining kitchen and media room, a combination neither pool-equipped building provides. University at 140 Simcoe St includes a putting green and jogging track not found in Studio 2, yet lacks both the Dining Room & Kitchen and the Hot Tub & Jacuzzi that define the subject's social and wellness offering. Studio at 199 Richmond St W is the closest amenity match, sharing the media room, dining kitchen, and hot tub, but adds an outdoor pool and a public art gallery component that Studio 2 does not replicate. The package as a whole—concierge security, full fitness and spa suite, communal dining, and a dedicated media space without pool infrastructure—best serves young professionals and small households in the Entertainment District who prioritize indoor social and wellness programming over aquatic recreation and who value a turnkey, low-maintenance lifestyle without the maintenance overhead of pool facilities.