Aquaview — Rental Market Data

Aquaview's average realized lease rent of $2,557 per month sits $131 below the four-comp benchmark of $2,688, with the spread driven primarily by the two 1987-era Lakeshore Park Estates towers commanding higher nominal rents on larger footprints. Lakeshore Park Estates Ⅰ (3845 Lake Shore Boulevard W, 0.11 km, two closed leases) averaged $3,000 per month at $3.06 per square foot across 975 square feet, placing the subject $443 higher in realized rent against that comp. Lakeshore Park Estates II (3835 Lake Shore Boulevard W, 0.22 km, one closed lease) averaged $2,700 per month at $2.45 per square foot across 1,100 square feet, with the subject trading $143 above that figure. Watermark (3563 Lake Shore Blvd W, 1.07 km, three closed leases) averaged $2,450 per month at $3.70 per square foot across 671 square feet, meaning the subject's rent runs $107 lower than Watermark's realized average. Waterford Terrace (3531 Lake Shore Blvd W, 1.14 km, one closed lease) averaged $2,600 per month at $2.36 per square foot across 1,100 square feet, with the subject $43 higher.

Aquaview leases at $3.41 per square foot across an average 753-square-foot suite, a rate that sits above the four-comp benchmark of $2.89 per square foot but well below the submarket average of $3.74 per square foot, while its footprint is roughly 209 square feet smaller than the comp mean of 962 square feet. Against Lakeshore Park Estates Ⅰ, the subject trades at a $0.35 per square foot (11.4%) premium while providing 222 fewer interior square feet, so the higher nominal rent of $443 is driven by the per-square-foot rate differential rather than additional space. Lakeshore Park Estates II shows a wider gap: the subject commands a $0.96 per square foot (39.2%) premium over that comp's $2.45 rate yet delivers 347 fewer square feet, meaning the $143 higher monthly rent reflects a density premium on a compact layout. Watermark inverts the dynamic: the subject trades at a $0.29 per square foot (7.8%) discount below Watermark's $3.70 rate while providing 82 more interior square feet, so the $107 lower nominal rent is a function of the larger footprint at a lower per-square-foot price rather than a weaker asset valuation. Waterford Terrace presents the steepest per-square-foot contrast, with the subject at a $1.05 per square foot (44.5%) premium over that comp's $2.36 rate and 347 fewer square feet, producing a $43 higher monthly rent on a substantially smaller suite.

Aquaview offers an eight-feature amenity package including a rooftop terrace, hot tub and jacuzzi, gym and fitness centre, games and billiards room, meeting room, party and lounge room, BBQ area, and concierge with security, positioning it as a mid-tier lifestyle building within this immediate Lake Shore cluster. The subject's hot tub and jacuzzi are absent from Watermark's seven-feature list (which includes a rooftop terrace, gym, games room, meeting room, party room, BBQ area, and concierge), giving Aquaview a distinct aquatic-wellness edge over its closest 2014-era peer. Against the 1987 Lakeshore Park Estates Ⅰ, the subject lacks several lifestyle features that comp offers—namely an EV charging station, car wash bay, sauna and steam room, basketball court, and library—while matching on concierge, gym, party room, meeting room, BBQ area, and hot tub. Lakeshore Park Estates II provides only concierge, a BBQ area, and a shared laundry room, making Aquaview's full fitness, social, and remote-work suite a clear generational upgrade. Waterford Terrace offers concierge and security alone, leaving the subject's gym, rooftop terrace, games room, meeting room, party room, BBQ area, and hot tub as entirely unmatched in that comparison. This amenity mix best serves young professionals and small households in Etobicoke South who want a social, fitness-oriented building with a rooftop gathering space and on-site wellness features without the step-up cost of a full luxury resort-style package.