The Modern — Rental Market Data

The Modern at 320 Richmond St E has two active listings as of August 31, 2026, with asking rents ranging from $2,135 to $2,650 per month, an average of $2,393 and a median of $2,392. The average active suite measures 548 square feet at an asking rate of $4.58 per square foot. Both active units occupy single-listing tiers, one 1-Bedroom and one 1-Bedroom + Den, so inventory is split evenly between a compact entry-level layout and a den-equipped suite rather than skewing toward multi-bedroom executive configurations.

The Modern's active inventory is evenly divided, with one 1-Bedroom (50 percent share) and one 1-Bedroom + Den (50 percent share), each representing a single listing. The 1-Bedroom asks $2,135 per month for 400 square feet at $5.34 per square foot, while the 1-Bedroom + Den lists at $2,650 per month for 695 square feet at $3.81 per square foot. No two-bedroom or larger tiers are currently available in the building.

The Modern's two active listings span a $515 spread (24.1 percent), from a minimum entry rent of $2,135 to a peak asking rent of $2,650 per month. The median asking rent sits at $2,392 per month. The entry-level suite is a 1-Bedroom at 400 square feet and $5.34 per square foot, while the peak listing is a 1-Bedroom + Den at 695 square feet and $3.81 per square foot, meaning the den unit's larger footprint drives a lower per-square-foot rate despite the higher nominal rent.

The Modern's active den premium is $515 per month for an additional 295 square feet of den space, equating to a marginal cost of $1.75 per square foot for the extra area. Active parking premiums cannot be reliably isolated due to insufficient paired sample data, so no verified monthly parking figure can be quoted for current listings.

The Modern's active asking average of $2,393 per month at $4.58 per square foot compares to the St. Lawrence submarket asking benchmark of $2,934 per month at $4.51 per square foot. The building's nominal rent is lower than the submarket average, but this reflects the more compact 548-square-foot active footprint versus the broader submarket mix; on a per-square-foot basis, The Modern asks 1.6 percent above the neighborhood rate. The building represents 2 out of 116 available listings in the St. Lawrence submarket.

The Modern's all-time average realized lease rent of $2,425 per month sits $114 above the four-comp benchmark of $2,311, with the spread driven primarily by its two closest active peers. The Richmond I at 323 Richmond St E (0.07 km, 8 closed leases) averaged $2,418 per month at $3.94 per square foot across 616 square feet, placing The Modern just $7 higher on a nominal basis. Three 11 @ Imperial Square at 311 Richmond St E (0.06 km, 3 closed leases) realized $2,383 per month at $3.31 per square foot over 733 square feet, meaning The Modern commands $42 more per month. The Richmond II at 313 Richmond St E (0.05 km, 4 closed leases) closed at $2,131 per month, $3.56 per square foot, and 600 square feet, so The Modern's rent runs $294 higher than that comp. Imperial Lofts – Tower at 90 Sherbourne St (0.08 km) recorded zero closed leases over the trailing 180 days and therefore carries no realized rent benchmark against which to compare.

The Modern leases at $3.84 per square foot across an average 652 square feet, a rate that sits above the comp average of $3.60 per square foot but below the St. Lawrence submarket benchmark of $4.22 per square foot, positioning it as a mid-tier value play in a premium pocket. Against The Richmond I (8 closed leases, $3.94 per square foot, 616 sq ft), The Modern trades at a $0.10 per square foot discount while providing 36 more interior square feet, so the $7 higher nominal rent is entirely a function of the larger footprint rather than a rate premium. Versus Three 11 @ Imperial Square (3 closed leases, $3.31 per square foot, 733 sq ft), The Modern commands a $0.53 per square foot premium yet delivers 81 fewer interior square feet; the $42 higher monthly rent reflects both the tighter per-square-foot rate and the reduced interior footprint, meaning a renter trades away roughly 11% of usable space for a more compact, higher-density layout. Against The Richmond II (4 closed leases, $3.56 per square foot, 600 sq ft), The Modern carries a $0.28 per square foot premium and 52 additional square feet, so the $294 higher rent is underpinned by both a higher rate and a meaningfully larger suite.

The Modern offers a 14-item amenity package that includes an outdoor pool, yoga studio, pet wash station, and a dedicated dining room with kitchen—features absent from every one of its four nearby competitors. The Richmond I and The Richmond II each provide a basketball court, meeting room, and media/theatre room that The Modern does not carry, while Three 11 @ Imperial Square offers a meeting room the subject lacks. Imperial Lofts – Tower, with zero closed leases in the trailing 180 days, presents only a party lounge, rooftop terrace, BBQ area, and concierge, making it the thinnest lifestyle offering in the cluster. The subject's aquatic and wellness suite (outdoor pool, hot tub, sauna/steam, yoga studio) combined with its pet wash station and outdoor shower creates a resort-adjacent daily-living package that no peer replicates, targeting professionals and young families who prioritize on-site recreation, pet-friendly convenience, and social dining over the meeting-room or court-based amenities favoured by the 2000-era buildings.