Market Data as of August 31, 2026
Nuvo Essex — Rental Market Data
Last Lease
1-BedroomBuilding Summary & Rental Market Overview
Rental market analytics and building profile as of August 31, 2026.
Nuvo Essex at 35 Viking Lane in the Etobicoke Centre neighbourhood is a 340-suite residential tower built by Tridel and completed in 2007. As of August 31, 2026, the building is fully occupied with zero units currently listed for rent, placing its availability rate at 0 percent. Recent leasing activity shows three closed leases in the trailing 30 days at an average of $2,800 per month with an 8-day average time on market, and six closed leases over the past 90 days averaging $2,708 per month with an 11-day average DOM.
With no active listings to benchmark, pricing intelligence draws on the building's realized lease history. Tracked closed transactions average $2,664 per month at $3.31 per square foot across an average suite footprint of 808 square feet. That realized rate sits 8.8 percent below the Etobicoke Centre submarket lease benchmark of $3.64 per square foot, indicating Nuvo Essex has historically priced at a modest discount to surrounding inventory on a rate-per-area basis. The submarket's current asking average of $2,654 per month and $3.67 per square foot provide the nearest active-market reference for renters evaluating comparable options.
Marketing friction at Nuvo Essex is effectively absent: zero delisted, terminated, or expired listings are recorded, and the 8-to-11-day closed-lease DOM runs well under the submarket average of 25 days. Across all tracked historical leases, tenants secured an average concession of $21 per month, or 0.82 percent below asking, with 42.9 percent of deals closing under the initial ask and an annualized savings of $252 per unit. Because the building currently offers zero available units, renters seeking a 1-Bedroom + Den layout—the dominant leased configuration at 57.1 percent of closed transactions—should monitor the broader Etobicoke Centre pool of 78 active listings for comparable inventory.
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Last Realized Lease
Transaction metrics for the most recently leased suite
Recent Leased Transactions & Contract Prices
Recent lease transactions, absorption velocity, and the difference between landlord asking prices and actual prices agreed to by tenants at Nuvo Essex (Data period: For the month of August 2026).
Leased Transaction Insights & Questions
How many suites were leased at Nuvo Essex last month, and how fast did they rent?
Nuvo Essex at 35 Viking Lane closed three leases in the trailing 30 days with an average of 8 days on market, compared to 11 DOM across the 90-day window and a submarket benchmark of 25 DOM. The 90-day window captured six closed leases, while the full one-year and lifetime records both total seven transactions. Leasing cadence accelerated sharply in August 2026 with three closings in a single month, up from one each in May and June and two in July, indicating a meaningful uptick in tenant absorption after a slower spring.
What is the negotiation spread between asking rents and closed lease prices at Nuvo Essex?
Nuvo Essex tenants negotiated an average discount of $21 per month (0.82% below asking), translating to $252 in annual savings per unit across tracked leases. Forty-two point nine percent of all seven closed leases settled under the listed asking price, confirming consistent tenant leverage at this property. The net negotiation spread of -$21 per month reflects landlord concessions rather than pricing power, and the pattern held across both bedroom tiers without exception in the discount direction.
What are typical executed lease prices across different layouts at Nuvo Essex?
The 1-Bedroom + Den layout anchors Nuvo Essex volume with four closed leases averaging $2,488 per month and 13 days on market, while the 2-Bedroom tier accounts for three closings at $2,900 per month and 7 DOM. The 1-Bedroom + Den sample of four leases is a limited directional indicator, not a broad statistical benchmark; median rent sits at $2,500 with a P25-P75 range of $2,475 to $2,512, average suite size of 750 square feet, and a rate of $3.32 per square foot. The 2-Bedroom sample of three leases is likewise a small-sample directional reference; median rent is $2,850 with a P25-P75 range of $2,825 to $2,950, average size of 885 square feet, and a rate of $3.29 per square foot.
What measurable rent premium did suites with parking achieve in closed leases at Nuvo Essex?
Nuvo Essex does not have a reliably isolated leased parking premium because paired suite-and-parking data is insufficient to calculate a defensible monthly figure. Active asking parking rates also cannot be verified due to unreliable outlier readings in the current inventory. Tenants should treat any parking add-on at this building as a case-by-case negotiation rather than a fixed market rate, and landlords should avoid quoting unverified parking premiums in marketing materials.
How does the lease-to-listing ratio at Nuvo Essex reflect current tenant demand?
Nuvo Essex rents trended upward across the May-to-August 2026 window, moving from $2,400 in May to $2,800 by August. May recorded one closing at $2,400 per month and $3.20 per square foot with 9 DOM. June brought one lease at $2,800 per month and $3.39 per square foot, clearing in just 1 day. July saw two closings averaging $2,525 per month and $3.37 per square foot but required 20 DOM, the slowest month of the period. August closed three leases at $2,800 per month and $3.28 per square foot with 8 DOM, confirming that the nominal rent recovery in August reflects larger-suite mix rather than a rate-per-square-foot increase.
Historical Active Listings & Market Dynamics
Analyze availability, historical asking prices, price per foot ($/SF), and days on market over time. Use filters below to benchmark specific layouts.
| Date | Units Available | Avg Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-05-08 | 1 | 2450 | 750 | 3.27 | N/A |
| 2026-05-09 | 1 | 2450 | 750 | 3.27 | 1 |
| 2026-05-10 | 1 | 2450 | 750 | 3.27 | 2 |
| 2026-05-11 | 1 | 2450 | 750 | 3.27 | 3 |
| 2026-05-12 | 1 | 2450 | 750 | 3.27 | 4 |
| 2026-05-13 | 1 | 2450 | 750 | 3.27 | 5 |
| 2026-05-14 | 1 | 2450 | 750 | 3.27 | 6 |
| 2026-05-15 | 1 | 2450 | 750 | 3.27 | 7 |
| 2026-05-16 | 1 | 2450 | 750 | 3.27 | 8 |
| 2026-06-03 | 1 | 2550 | 750 | 3.40 | N/A |
| 2026-06-04 | 1 | 2550 | 750 | 3.40 | 1 |
| 2026-06-05 | 1 | 2550 | 750 | 3.40 | 2 |
| 2026-06-06 | 1 | 2550 | 750 | 3.40 | 3 |
| 2026-06-07 | 1 | 2550 | 750 | 3.40 | 4 |
| 2026-06-08 | 1 | 2550 | 750 | 3.40 | 5 |
| 2026-06-09 | 1 | 2550 | 750 | 3.40 | 6 |
| 2026-06-10 | 1 | 2550 | 750 | 3.40 | 7 |
| 2026-06-11 | 1 | 2550 | 750 | 3.40 | 8 |
| 2026-06-12 | 1 | 2550 | 750 | 3.40 | 9 |
| 2026-06-13 | 1 | 2550 | 750 | 3.40 | 10 |
| 2026-06-14 | 1 | 2550 | 750 | 3.40 | 11 |
| 2026-06-15 | 1 | 2550 | 750 | 3.40 | 12 |
| 2026-06-16 | 1 | 2550 | 750 | 3.40 | 13 |
| 2026-06-17 | 1 | 2550 | 750 | 3.40 | 14 |
| 2026-06-18 | 1 | 2550 | 750 | 3.40 | 15 |
| 2026-06-19 | 1 | 2550 | 750 | 3.40 | 16 |
| 2026-06-20 | 1 | 2550 | 750 | 3.40 | 17 |
| 2026-06-21 | 1 | 2550 | 750 | 3.40 | 18 |
| 2026-06-22 | 2 | 2550 | 750 | 3.40 | 10 |
| 2026-06-23 | 2 | 2550 | 750 | 3.40 | 11 |
| 2026-06-24 | 3 | 2633 | 776 | 3.40 | 8 |
| 2026-06-25 | 2 | 2550 | 750 | 3.40 | 13 |
| 2026-06-26 | 2 | 2550 | 750 | 3.40 | 14 |
| 2026-06-27 | 2 | 2550 | 750 | 3.40 | 15 |
| 2026-06-28 | 2 | 2550 | 750 | 3.40 | 16 |
| 2026-06-29 | 2 | 2550 | 750 | 3.40 | 17 |
| 2026-06-30 | 2 | 2550 | 750 | 3.40 | 18 |
| 2026-07-01 | 1 | 2550 | 750 | 3.40 | 9 |
| 2026-07-02 | 1 | 2550 | 750 | 3.40 | 10 |
| 2026-07-20 | 1 | 3050 | 1000 | 3.05 | N/A |
| 2026-07-21 | 1 | 3050 | 1000 | 3.05 | 1 |
| 2026-07-22 | 1 | 3050 | 1000 | 3.05 | 2 |
| 2026-07-23 | 1 | 3050 | 1000 | 3.05 | 3 |
| 2026-07-24 | 1 | 3050 | 1000 | 3.05 | 4 |
| 2026-07-25 | 1 | 3050 | 1000 | 3.05 | 5 |
| 2026-07-26 | 1 | 3050 | 1000 | 3.05 | 6 |
| 2026-07-27 | 1 | 3050 | 1000 | 3.05 | 7 |
| 2026-07-28 | 1 | 3050 | 1000 | 3.05 | 8 |
| 2026-07-29 | 2 | 2975 | 914 | 3.28 | 5 |
| 2026-07-30 | 2 | 2975 | 914 | 3.28 | 6 |
| 2026-07-31 | 2 | 2975 | 914 | 3.28 | 7 |
| 2026-08-01 | 2 | 2975 | 914 | 3.28 | 8 |
| 2026-08-02 | 2 | 2975 | 914 | 3.28 | 9 |
| 2026-08-03 | 2 | 2700 | 789 | 3.42 | 3 |
| 2026-08-04 | 2 | 2700 | 789 | 3.42 | 4 |
| 2026-08-05 | 1 | 2500 | 750 | 3.33 | 2 |
12-Month Market Dynamics & Trend Trajectory
Nuvo Essex realized an average lease rent of $2,664 per month and a rate of $3.31 per square foot across seven lifetime transactions, placing the property $143 above the Etobicoke Centre submarket average of $2,521 per month while trading 8.8 percent below the submarket's $3.64 per square foot benchmark. The rent premium over the submarket midpoint is offset by a lower per-square-foot rate, suggesting that Nuvo Essex's larger average suite footprint of 808 square feet captures more total dollar value per unit without commanding a density-driven rate premium. Pricing discipline at Nuvo Essex skews toward tenant leverage: 42.9 percent of closed leases settled below asking, and the average concession of $21 per month (0.82 percent) delivered $252 in annual savings to tenants across tracked transactions. No lease closed at a premium above asking, confirming that landlords at this property have not demonstrated the ability to push rents past listed rates in the current Etobicoke Centre market.
Historical building statistics - leased transactions
This section tracks completed leasing transactions over time starting from May 1, 2026. Use the filters below to refine the trends by unit type, parking, den, and price performance.
Latest leased insights and trends
| Date | Units Leased | Avg Leased Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-05-17 | 1 | 2400 | 750 | 3.20 | 9 |
| 2026-05-24 | 0 | N/A | N/A | N/A | N/A |
| 2026-05-31 | 0 | N/A | N/A | N/A | N/A |
| 2026-06-07 | 0 | N/A | N/A | N/A | N/A |
| 2026-06-14 | 0 | N/A | N/A | N/A | N/A |
| 2026-06-21 | 1 | 2800 | 827 | 3.39 | 1 |
| 2026-06-28 | 2 | 2525 | 750 | 3.37 | 20 |
| 2026-07-05 | 0 | N/A | N/A | N/A | N/A |
| 2026-07-12 | 0 | N/A | N/A | N/A | N/A |
| 2026-07-19 | 0 | N/A | N/A | N/A | N/A |
| 2026-07-26 | 0 | N/A | N/A | N/A | N/A |
| 2026-08-02 | 3 | 2800 | 859 | 3.28 | 8 |
Nearby Building Rental Comparables & Price Spreads
Direct rental rate comparisons against residential properties in the immediate vicinity.
Nuvo Essex at 35 Viking Lane, built in 2007 by Tridel with 340 suites, sits in a tight cluster of four nearby competitors within 120 metres, all of which recorded active lease volume over the trailing 180 days. The closest peer, Nuvo 2 at Essex at 25 Viking Lane (0.01 km, completed 2008), closed 14 leases in the period and represents the highest-volume benchmark in the pocket. Essex II at 5233 Dundas Street West (0.08 km, completed 2005) logged 3 closed leases, Station Place at 5249 Dundas Street West (0.1 km, completed 2021) recorded 2, and Essex I at 5229 Dundas Street West (0.12 km, completed 2004) closed 1 lease. The group spans a 17-year completion range from 2004 to 2021, with the three older buildings (2004–2008) forming the core Tridel Essex portfolio and Station Place representing a newer, family-oriented product with pet and kids' facilities. Against the four-comp benchmark of $2,744 average rent, $3.19 per square foot, and 873 average square feet, Nuvo Essex's realized lease profile of $2,664 per month at $3.31 per square foot over an 808-square-foot average suite positions the building as a mid-range rate product with a slightly smaller interior footprint than the peer average. The subject's per-square-foot rate runs 3.8% above the comp average, indicating that tenants pay a modest premium for each square foot of space, yet the total monthly outlay lands $80 below the comp mean because the suite is 65 square feet smaller on average. Within the broader Etobicoke Centre submarket, where the average lease rate is $2,521 and the per-square-foot benchmark is $3.64, Nuvo Essex trades at a 5.7% rent premium but an 8.8% per-square-foot discount, reflecting a larger-suite, lower-rate-per-foot value proposition relative to the wider area.
Comparable Analysis & Questions
How do rental rates at Nuvo Essex compare to neighbouring buildings within Etobicoke Centre?
Nuvo Essex's average realized lease rent of $2,664 per month sits $80 below the four-comp benchmark of $2,744, placing the building in the middle of its immediate competitive set. Nuvo 2 at Essex (25 Viking Lane, 0.01 km, 14 closed leases) averages $2,775 per month at $3.28 per square foot over 852 square feet, meaning the subject trades at a $111-per-month lower rent despite a marginally higher per-square-foot rate. Essex II (5233 Dundas Street West, 0.08 km, 3 closed leases) averages $2,477 per month at $2.97 per square foot over 841 square feet, so the subject commands a $187-per-month higher rent. Station Place (5249 Dundas Street West, 0.1 km, 2 closed leases) averages $3,224 per month at $2.93 per square foot over 1,100 square feet, making the subject's rent $560 lower on a nominal basis. Essex I (5229 Dundas Street West, 0.12 km, 1 closed lease) averages $2,500 per month at $3.57 per square foot over 700 square feet, with the subject realizing a $164-per-month higher rent.
Does Nuvo Essex offer a competitive price-per-square-foot ($/SF) against local comparables?
Nuvo Essex leases at $3.31 per square foot over an average 808-square-foot suite, positioning it as a mid-rate, mid-size product that trades at a premium per square foot against three of four nearby competitors while offering a larger interior footprint than the smallest peer. Against Nuvo 2 at Essex, the subject trades at a $0.03-per-square-foot (0.9%) premium but provides 44 fewer interior square feet, so the $111 lower monthly rent is driven entirely by the smaller footprint rather than a weaker asset valuation. Versus Essex II, the subject commands a $0.34-per-square-foot (11.4%) premium and still delivers 33 fewer square feet, resulting in a $187 higher total rent that reflects both a higher rate and a comparable space. Station Place presents the sharpest trade-off: the subject trades at a $0.38-per-square-foot (13.0%) premium yet provides 292 fewer interior square feet, which fully explains the $560 lower nominal rent—tenants are buying a compact, higher-rate-per-foot product rather than a discounted asset. Against Essex I, the subject trades at a $0.26-per-square-foot (7.3%) discount and provides 108 more interior square feet, so the $164 higher total rent is a function of the larger suite rather than a per-foot premium.
How do building age, amenities, and developer reputation impact rent spreads?
Nuvo Essex offers a 15-feature lifestyle package anchored by an indoor pool, hot tub, sauna and steam room, golf simulator, rooftop terrace, business centre, and library, placing it in the upper tier of the immediate peer set on wellness and remote-work infrastructure. The building's indoor aquatic suite (pool, hot tub, sauna) is absent from Station Place, which substitutes an outdoor pool and pet-focused amenities (dog run, pet wash station, kids' play room), and is also missing from Essex I, which carries a card room and yoga studio in place of the full spa circuit. Nuvo 2 at Essex mirrors the subject's amenity list almost exactly but adds a yoga studio and internet café that Nuvo Essex does not provide. The subject's rooftop terrace, business centre, and library & reading room are features that Essex II lacks, giving Nuvo Essex a distinct edge for remote professionals and tenants who value quiet workspaces. This package best serves the 25-to-45 professional renter who prioritizes in-building fitness, aquatic recovery, and dedicated meeting or co-working space over outdoor recreation or pet infrastructure.
Building Amenities, Transit & Neighbourhood Features
Building amenities and neighbouring residential communities around Nuvo Essex.
Building Amenities
- Concierge & Security
- Gym & Fitness Centre
- Indoor Pool
- Hot Tub & Jacuzzi
- Sauna & Steam Room
- Golf Simulator
- Party & Lounge Room
- Meeting Room
- Business Centre
- Media & Theatre Room
- Games & Billiards Room
- Library & Reading Room
- Dining Room & Kitchen
- BBQ Area
- Rooftop Terrace
Residential Buildings in the Vicinity
- Nuvo 2 at Essex13 m
- Essex II81 m
- Station Place100 m
- Parc Nuvo at Essex116 m
- Essex I123 m
- King's Gate468 m
- The Kip District 2574 m
- One - The Kip District614 m
- Village Gate West617 m
- Cypress at Etobicoke677 m
- ConneXion Condos746 m
- ConneXion761 m
Data Methodology & Analytical Standards
How FastScreen aggregates public listing records, tracks active inventory, and calculates rental market metrics for Nuvo Essex.
Snapshot Dates & Benchmark Cadence
- Standardized Snapshot: Market metrics reflect a standardized monthly snapshot locked as of August 31, 2026.
- Benchmark Comparison Cadence: Month-over-month comparisons evaluate changes across standardized month-end reporting windows (August 2026 vs July 2026), ensuring consistent baseline periods and eliminating intra-month reporting volatility.
- Point-in-Time Daily History: Daily charts capture point-in-time active listings available on any given calendar day.
Public Data Aggregation & Thresholds
- Public Data Aggregation: FastScreen aggregates residential rental listing and completed lease transaction records from publicly available sources.
- Threshold Filtering: All listings are subject to a minimum monthly rental threshold of $1,000 to filter out standalone storage lockers, private parking spaces, and misclassified commercial entries from condominium statistics.
Calculation Formulations
- Average Asking Rent: Weighted average of active asking prices across available suites in the reporting period.
- Price Per Square Foot ($/SF): Calculated by dividing rent by square footage only for listings that provide unit dimensions (suites without stated square footage are excluded from $/SF calculations).
- Days on Market (DOM): Measures elapsed calendar days between the date a suite is first listed and either the benchmark snapshot date (for active listings) or the finalized date leased.
- Parking & Den Differentials: Average asking rent differences between suites with vs. without parking, and suites with vs. without a den.
Data Limitations & Scope
- Exclusively Public Records: Statistics are derived exclusively from publicly available rental listings and completed lease records. Private direct-to-landlord arrangements, unadvertised tenant renewals, and off-market rental agreements are not captured.
- Agreed Contract Amounts: Reported lease amounts reflect agreed contract rents and do not account for private move-in allowances or individual unit renovations that may influence pricing spreads.
Disclaimer: The information and statistics presented on this page (including asking rents, lease prices, de-listed listings, average square footage, days on market, and implied suite premiums) are aggregated from public listing sources for general informational, educational, and reference purposes only. FastScreen does not guarantee the accuracy, completeness, or timeliness of any data shown. This information does not constitute financial, investment, legal, or professional real estate advice. Users should conduct their own independent research and consult with licensed professionals before making any rental, leasing, property management, or real estate investment decisions.