Murano - South Tower — Rental Market Data

Murano - South Tower has two active listings as of August 31, 2026, with asking rents ranging from $3,200 to $3,500 per month, an average of $3,350, and a median of $3,350. The average suite size across active inventory is 800 square feet at an asking rate of $4.19 per square foot. Both available units are two-bedroom configurations, with one standard two-bedroom and one two-bedroom-plus-den, placing the current inventory squarely in the mid-size family and professional segment rather than compact entry-level or large executive layouts.

The dominant active layout at Murano - South Tower is the two-bedroom, with one unit representing 50 percent of available inventory at an average asking rent of $3,200 per month, 750 square feet, and $4.27 per square foot. The second tier, a two-bedroom-plus-den, also holds one unit at 50 percent share, asking $3,500 per month across 850 square feet at $4.12 per square foot. Both tiers are single-listing samples, so each represents an individual deal rather than a statistically robust pricing signal.

Murano - South Tower's active availability spans a $300 spread, or 9.4 percent, from a minimum entry rent of $3,200 per month to a peak asking rent of $3,500 per month. The median asking rent sits at $3,350 per month. The entry-level suite is a two-bedroom at 750 square feet priced at $4.27 per square foot, while the peak suite is a two-bedroom-plus-den at 850 square feet priced at $4.12 per square foot, meaning the larger unit actually carries a lower per-square-foot rate despite the higher monthly outlay.

Murano - South Tower's active den premium cannot be reliably quantified from current listings, as the paired sample is insufficient to isolate a clean dollar delta or marginal cost per square foot for the extra den space. Parking stall premiums are likewise inconclusive; the available data does not support a reliable per-month figure, and no verified parking add-on cost can be stated for either active or recently leased units.

Murano - South Tower's active asking rent of $3,350 per month at $4.19 per square foot compares to the Downtown Core submarket asking benchmark of $3,471 per month at $4.56 per square foot, placing the building 8.1 percent below the submarket on a per-square-foot basis. The lower nominal monthly rent is partly a function of suite sizing, as the building's 800-square-foot average listing is comparable to submarket norms, but the per-square-foot discount confirms genuinely competitive unit pricing. Murano - South Tower's two active listings represent approximately 0.9 percent of the 224 total active listings across the Downtown Core submarket.

Murano – South Tower's average closed-lease rent of $3,019 per month sits $13 below the four-comp average of $3,032, while individual competitors range from $2,866 to $3,317. Murano – North Tower at 37 Grosvenor St closed leases at $3,003 per month ($4.37 per square foot over 692 sq ft), Burano Condominiums at 832 Bay St at $3,317 per month ($4.18 per square foot over 810 sq ft), The Gallery at 25 Grenville St at $2,866 per month ($3.45 per square foot over 838 sq ft), and The Royalton at 801 Bay St at $2,940 per month ($3.70 per square foot over 805 sq ft). The subject's rent is therefore competitive on a dollar basis against the broader set, with the widest gap appearing against Burano, where tenants pay $298 more per month for a comparable two-bedroom product.

At $4.42 per square foot over an average 689-square-foot suite, Murano – South Tower commands a per-square-foot premium over every nearby competitor while offering the smallest interior footprint in the set. Against Murano – North Tower the subject trades at a $0.05 per square foot premium (1.1%) with 3 fewer square feet; versus Burano Condominiums the premium widens to $0.24 per square foot (5.7%) with 121 fewer square feet; against The Gallery the gap reaches $0.97 per square foot (28.1%) with 149 fewer square feet; and against The Royalton it is $0.72 per square foot (19.5%) with 116 fewer square feet. Renters choosing the South Tower accept a compact layout in exchange for a 2009-built amenity package—indoor pool, running track, sauna, and library—that older or larger-footprint neighbours either lack entirely or offer in a more basic form, making the per-square-foot premium a lifestyle and systems upgrade rather than pure space.

Murano – South Tower delivers a 13-amenity wellness and social package that outperforms three of its four immediate neighbours on key lifestyle features. The indoor pool is absent at both The Gallery and The Royalton, the running track is missing from Burano Condominiums, The Gallery, and The Royalton, the dedicated library and reading room is not offered at Murano – North Tower, Burano, or The Royalton, and the hot tub and jacuzzi is unavailable at The Gallery. Where Burano does provide an outdoor pool and a rooftop terrace, the South Tower counters with a covered indoor pool, a garden courtyard, and a BBQ area that Burano's amenity list omits. This combination of year-round aquatic access, cardiovascular infrastructure, quiet study space, and outdoor social areas is best suited to young professionals and small families in their late twenties to mid-thirties who want a full-service residential experience without the larger square-footage commitment of the older, more spacious towers nearby.