Fly Condominiums — Rental Market Data

Fly Condominiums has two active rental listings as of August 31, 2026, spanning a price range of $2,250 to $4,100 per month with an average asking rent of $3,175 and a median of $3,175. The two suites average 750 square feet and carry an asking rate of $4.68 per square foot. With one unit in each tier—a 400-square-foot one-bedroom and a 1,100-square-foot two-bedroom plus den—inventory is split evenly between compact entry-level and executive multi-bedroom layouts, offering no middle-ground two-bedroom option at this time.

The dominant active layout at Fly Condominiums is the one-bedroom tier, holding one listing and a 50 percent share of the two-unit active inventory. The one-bedroom averages 400 square feet at $2,250 per month and $5.63 per square foot, while the two-bedroom plus den tier also holds one listing at 50 percent share, averaging 1,100 square feet at $4,100 per month and $3.73 per square foot. Both tiers represent single-listing samples, so pricing in each category reflects an individual transaction rather than a market-rate cluster.

Fly Condominiums' active asking rents range from a minimum of $2,250 per month to a peak of $4,100 per month, producing a dollar spread of $1,850 and a percentage spread of 82.2 percent. The median asking rent sits at $3,175 per month. The entry-level suite is a 400-square-foot one-bedroom listed at $5.63 per square foot, while the peak offering is a 1,100-square-foot two-bedroom plus den at $3.73 per square foot, illustrating how the larger executive footprint compresses the per-square-foot rate despite the higher nominal rent.

Active den premiums at Fly Condominiums cannot be quantified because the available sample does not include a paired comparison of identical layouts with and without a den. Parking premium data for active listings is likewise inconclusive due to an anomalous outlier or insufficient paired sample, so no reliable monthly parking add-on can be quoted from current inventory. For reference, verified historical lease data indicates a parking stall premium of $326 per month across closed transactions.

Fly Condominiums' active asking rent of $3,175 per month and $4.68 per square foot compare favorably against the Entertainment District submarket asking benchmark of $3,542 per month and $5.53 per square foot. The building's per-square-foot rate is 15.4 percent below the submarket asking average, a gap that widens when accounting for the fact that active listings average 750 square feet versus the smaller footprints typical of submarket inventory. Fly Condominiums accounts for two out of 153 available listings in the Entertainment District, representing roughly 1.3 percent of total submarket active inventory.

Fly Condominiums' average realized lease rent of $2,561 per month sits $467 below the four-comp benchmark of $3,028, placing it at the lower end of this immediate Front Street cluster. Element at 20 Blue Jays Way (0.06 km, 10 closed leases) averaged $2,825 per month at $3.82 per square foot across 745 square feet; Cityplace Matrix B at 373 Front St W (0.06 km, 8 closed leases) averaged $2,987 per month at $4.50 per square foot across 686 square feet; Apex at Cityplace (C) at 381 Front St W (0.07 km, 4 closed leases) averaged $3,438 per month at $3.91 per square foot across 884 square feet; and Cityplace Matrix A at 361 Front St W (0.08 km, 7 closed leases) averaged $2,861 per month at $4.05 per square foot across 715 square feet. All four competitors recorded active lease volume, so each provides a realized pricing benchmark rather than a speculative listing figure.

Fly Condominiums offers a $4.28 per square foot leased rate on an average 614-square-foot suite, trading at a discount in nominal monthly rent against every nearby active competitor while commanding a per-square-foot premium over three of the four. Against Element (0.06 km), the subject trades at a $0.46 per square foot (12.0%) premium yet provides 131 fewer interior square feet, meaning the lower $264 monthly rent is driven entirely by the smaller footprint rather than a weaker asset valuation. Against Cityplace Matrix B (0.06 km), the subject trades at a $0.22 per square foot (4.9%) discount and provides 72 fewer interior square feet, so both the rate and the size work in the tenant's favour on a per-dollar basis. Against Apex at Cityplace (C) (0.07 km), the subject commands a $0.37 per square foot (9.5%) premium while delivering 270 fewer interior square feet, and the $877 monthly rent gap reflects that substantial size differential. Against Cityplace Matrix A (0.08 km), the subject commands a $0.23 per square foot (5.7%) premium with 101 fewer interior square feet, again compressing the nominal rent gap through a tighter layout. In every pairing, the subject's lower monthly figure is a function of reduced interior area, not a devaluation of the Front Street location.

Fly Condominiums fields a 13-item amenity suite anchored by a juice bar, yoga studio, business centre, and rooftop terrace, but it lacks the indoor pools, hot tubs, dining rooms, sports courts, and spa facilities that define its four nearest competitors. Element (20 Blue Jays Way) and all three Cityplace towers each include an indoor pool and hot tub that the subject does not offer, while Apex at Cityplace (C) adds tennis, pickleball, squash, an indoor soccer court, and a library—lifestyle infrastructure entirely absent from Fly Condominiums. The subject's distinguishing features are its juice bar (unique in this cluster), dedicated yoga studio, and business centre, which together target a professional, wellness-oriented renter who values quiet productivity spaces and light fitness over aquatic recreation or large-format social dining. This package best serves cost-conscious young professionals and remote workers in the Entertainment District who prioritize a compact, low-maintenance suite with curated wellness and meeting facilities over resort-style common areas.