Market Data as of August 31, 2026
Waterlink at Pier 27 — Rental Market Data
Last Lease
2-BedroomBuilding Summary & Rental Market Overview
Rental market analytics and building profile as of August 31, 2026.
Waterlink at Pier 27 is located at 39 Queens Quay E in the Harbourfront neighborhood of Toronto, developed by Cityzen Development Corp. & Fernbrook Homes and completed in 2015 with 409 total suites. Currently, the building records zero active rental listings and a 0% availability rate. Over the past 90 days, closed leasing volume stands at zero transactions with an average days on market of null, while the lifetime closed count totals two units with an average days on market of 30 days.
Active asking rent and price-per-square-foot metrics cannot be evaluated due to the complete lack of active inventory, while historical realized leases averaged $4,450 per month at $4.71 per square foot across an average suite size of 925 square feet. By comparison, the broader Harbourfront submarket asking benchmark stands at $3,992 per month and $5.52 per square foot.
Landlords in the building experienced favorable market leverage historically, securing an average premium of $75 per month above asking (a 3.26% premium) with a lifetime closed average of 30 days on market. Renters seeking inventory in this development should monitor for new listings, as active availability remains scarce.
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Last Realized Lease
Transaction metrics for the most recently leased suite
Historical Active Listings & Market Dynamics
Analyze availability, historical asking prices, price per foot ($/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) |
|---|---|---|---|---|---|
| 2026-04-27 | 3 | 3733 | 800 | 4.53 | 62 |
| 2026-04-28 | 2 | 4450 | 925 | 4.71 | 74 |
| 2026-04-29 | 2 | 4450 | 925 | 4.71 | 75 |
| 2026-04-30 | 1 | 6450 | 1300 | 4.96 | 16 |
12-Month Market Dynamics & Trend Trajectory
Waterlink at Pier 27 at 39 Queens Quay E has logged a lifetime leasing volume of 2 total transactions with an average monthly rent of $4,450 per month, a rate of $4.71 per square foot, an average suite size of 925 square feet, and an average days on market of 30 days. Tenant turnover in the building reflects a quiet transactional profile with minimal historical leasing activity across the property. Transactions in the building settled with an average landlord premium of $75 per month or 3.26% above asking price, generating $900 per year in additional rental revenue. This points to landlord-favorable negotiation leverage where properties successfully secured figures slightly above initial asking benchmarks.
Historical building statistics - leased transactions
This section tracks completed leasing transactions over time starting from May 1, 2026. Use the filters below to refine the trends by unit type, parking, den, and price performance.
Latest leased insights and trends
| Date | Units Leased | Avg Leased Price ($) | Avg SqFt (SF) | Avg PSF ($/SF) | Avg DOM (Days) |
|---|---|---|---|---|---|
| 2026-04-26 | 1 | 6450 | 1300 | 4.96 | 17 |
Nearby Building Rental Comparables & Price Spreads
Direct rental rate comparisons against residential properties in the immediate vicinity.
Waterlink at Pier 27 competes directly with nearby waterfront properties, including Pier 27 I at 29 Queens Quay E (0.1 km away, completed in 2016, with 4 active listings), Pier 27 - Tower on the Lake at 15 Queens Quay E (0.14 km away, completed in 2021, with 8 active listings), World Trade Centre II at 10 Queens Quay W (0.28 km away, built in 1991, with 2 active listings), and World Trade Centre I at 10 Yonge St (0.29 km away, built in 1991, with 1 active listing). These peers represent a clear structural divide, pitting mid-2010s and 2020s modern builds against early 1990s high-rises. Positioned in the middle of this micro-market, Waterlink at Pier 27 complements its 2015 completion year with an average lease rate of $4.71 per square foot across an average suite size of 925 square feet. While older buildings like World Trade Centre II offer larger footprints, Waterlink commands a competitive rate per square foot that reflects its modern construction era, balancing contemporary floor plate efficiencies against the older, oversized layouts found further down the waterfront.
Comparable Analysis & Questions
How do rental rates at Waterlink at Pier 27 compare to neighbouring buildings within Harbourfront?
Waterlink at Pier 27 achieves an average lease rent of $4,450 per month, comparing against an overall competitive set average of $4,358 per month across nearby properties like Pier 27 I, Pier 27 - Tower on the Lake, World Trade Centre II, and World Trade Centre I. Individual lease metrics demonstrate variation across the immediate corridor: Pier 27 I at 29 Queens Quay E reports an average lease rent of $5,500 per month at $7.31 per square foot across 913 square feet; Pier 27 - Tower on the Lake at 15 Queens Quay E records $3,306 per month at $4.71 per square foot across 719 square feet; World Trade Centre II at 10 Queens Quay W lists $6,025 per month at $3.67 per square foot across 1,650 square feet; and World Trade Centre I at 10 Yonge St averages $2,600 per month at $4.00 per square foot across 650 square feet.
Does Waterlink at Pier 27 offer a competitive price-per-square-foot ($/SF) against local comparables?
Waterlink at Pier 27 establishes its value proposition through a leased rate of $4.71 per square foot and an average suite size of 925 square feet, aligning closely with submarket expectations while outperforming older competing towers on efficiency. Renters evaluating Waterlink weigh the benefits of mid-2010s floor plan design and modern mechanical systems against the massive 1,650 square foot, $3.67 per square foot footprints at World Trade Centre II or the compact 650 square foot, $4.00 per square foot configurations at World Trade Centre I. This positioning allows incoming residents to secure contemporary interior layouts and updated building envelopes without absorbing the heavy square foot premiums seen at immediate next-door phases like Pier 27 I.
How do building age, amenities, and developer reputation impact rent spreads?
Waterlink at Pier 27 delivers an extensive amenity package that rivals or exceeds the offerings found across the immediate waterfront competitive set. Signature features include a gym and fitness centre, a yoga studio, an indoor pool, an outdoor pool, and a sauna and steam room. When contrasted with neighbours, Waterlink matches the comprehensive wellness and social infrastructure of Pier 27 I, which similarly features indoor and outdoor pools, while significantly out-amenitizing 1990s builds like World Trade Centre II by providing purpose-built yoga spaces, modern media rooms, and dedicated spa treatment areas rather than aging recreational courts. This robust amenity profile particularly serves active professionals and lifestyle-focused renters seeking full-service building management on the downtown waterfront.
Building Amenities, Transit & Neighbourhood Features
Building amenities and neighbouring residential communities around Waterlink at Pier 27.
Building Amenities
- Concierge & Security
- Gym & Fitness Centre
- Yoga Studio
- Sauna & Steam Room
- Indoor Pool
- Outdoor Pool
- Party & Lounge Room
- Dining Room & Kitchen
- Games & Billiards Room
- Media & Theatre Room
- Meeting Room
- Spa Treatment Rooms
Residential Buildings in the Vicinity
- Pier 27 I96 m
- Pier 27 - Tower on the Lake138 m
- World Trade Centre II278 m
- World Trade Centre I287 m
- Sugar Wharf - East Tower316 m
- The Prestige at One Yonge330 m
- Centre - Tower II353 m
- Sugar Wharf - West Tower368 m
- Centre - Tower I388 m
- Harbour Square388 m
- 33 Bay Residences at Centre393 m
- Success Tower at Centre422 m
Data Methodology & Analytical Standards
How FastScreen aggregates public listing records, tracks active inventory, and calculates rental market metrics for Waterlink at Pier 27.
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.