Picasso — Rental Market Data

Picasso features 2 active listings as of August 31, 2026, with an overall asking price range between $2,450 and $2,750 per month, an average rent of $2,600 per month, and a median asking rent of $2,600 per month. Active suites average 650 square feet at an asking rate of $4.00 per square foot, with inventory split evenly between a 1-Bedroom and a 1-Bedroom + Den configuration.

The dominant active layout at Picasso is the 1-Bedroom, which accounts for 1 listing and a 50% inventory share at an average asking rent of $2,450 per month across 650 square feet for $3.77 per square foot. The remaining inventory consists of the 1-Bedroom + Den tier, representing 1 listing and a 50% share at an average asking rent of $2,750 per month across 650 square feet for $4.23 per square foot.

Picasso demonstrates a minimum entry rent of $2,450 per month and a peak asking rent of $2,750 per month, creating a dollar spread of $300 and a percentage spread of 12.2%. The median asking rent sits at $2,600 per month, anchored by the entry-level 1-Bedroom suite spanning 650 square feet at an asking rate of $3.77 per square foot, while the peak tier consists of a 1-Bedroom + Den layout offering 650 square feet at $4.23 per square foot.

Picasso commands an active den premium of $300 per month for a square footage delta of 0 square feet between the 1-Bedroom and 1-Bedroom + Den layouts, leaving the marginal cost per square foot for the extra den space unquantified due to identical suite sizes. Active parking premiums cannot be reliably isolated from current listings due to an insufficient sample or anomalous outlier data.

Picasso posts an average asking rent of $2,600 per month at $4.00 per square foot, trailing the submarket average asking rent of $3,542 per month and asking rate of $5.53 per square foot. This lower nominal asking outlay is driven by more compact suite sizing rather than cheaper unit pricing, positioning the building at 27.7% below the submarket asking rate per square foot while representing a minor share of the 153 total active listings across the Entertainment District submarket.

Picasso achieves an average lease rent of $2,348 per month, positioning it below the overall comparable average of $2,845 per month when benchmarked against nearby properties including 330 Richmond, Central Condos, Tableau Condominiums, and the Phoebe - Beverley Building. Specifically, 330 Richmond (330 Richmond St W) reports an average lease rent of $2,396 per month at $4.28 per square foot across an average of 574 square feet. Central Condos (38 Widmer St) records an average lease rent of $3,163 per month at $4.58 per square foot across 703 square feet. Tableau Condominiums (125 Peter St) logs an average lease rent of $2,566 per month at $4.57 per square foot across 575 square feet. Finally, the Phoebe - Beverley Building (18 Beverley St) commands an average lease rent of $3,254 per month at $3.98 per square foot across 825 square feet.

Picasso's value proposition is defined by an average leased rate of $4.34 per square foot across an average layout size of 552 square feet, positioning it at a discount compared to newer high-density alternatives in the immediate submarket. Renters evaluating Picasso experience distinct trade-offs, accepting slightly more compact square footages in exchange for competitive absolute monthly housing costs. For instance, while Central Condos delivers larger 703 square foot layouts at $4.58 per square foot, and Tableau Condominiums provides 575 square foot suites at $4.57 per square foot, Picasso offers a more accessible entry point into the Entertainment District without sacrificing proximity.

Picasso delivers a lifestyle and amenity profile that compares favorably against surrounding developments, featuring 16 distinct shared spaces that support both active and social living. The building features an outdoor pool, a fully equipped gym and fitness centre, a dedicated yoga studio, and a rooftop terrace, contrasting directly with competing assets like 330 Richmond, which includes a pet wash station and spa treatments, and Central Condos, which offers an indoor pool, a golf simulator, and refrigerated parcel storage. Tableau Condominiums focuses on intimate community spaces such as a library, reading room, and cabanas, while the Phoebe - Beverley Building emphasizes traditional green space with a private garden and courtyard. This diverse amenity package particularly serves urban professionals and couples seeking comprehensive wellness and entertainment facilities on-site.