The Derby — Rental Market Data

The Derby at 393 King St E has two units actively listed as of August 31, 2026, spanning a price range of $2,200 to $7,000 per month with an average asking rent of $4,600 and a median of $4,600. The average active suite measures 1,388 square feet at an asking rate of $3.34 per square foot, and the inventory splits evenly between one one-bedroom and one two-bedroom unit. This composition leans toward a compact entry-level one-bedroom paired with a large executive two-bedroom, rather than a mid-range multi-bedroom portfolio, giving renters a binary choice between a 650-square-foot starter suite and a 2,125-square-foot premium layout.

The dominant active layout at The Derby is the one-bedroom tier, with one listing representing 50 percent of available inventory at an average asking rent of $2,200 per month across 650 square feet and a rate of $3.38 per square foot. The two-bedroom tier mirrors this with a single listing at 50 percent share, asking $7,000 per month for 2,125 square feet at $3.29 per square foot. Both tiers are single-listing samples, so neither offers a comparative spread within its bedroom category, and renters seeking alternatives must look to the broader Downtown East submarket.

The Derby's active asking rents range from a minimum of $2,200 per month to a peak of $7,000 per month, producing a dollar spread of $4,800 and a percentage spread of 218.2 percent. The median asking rent sits at $4,600 per month, reflecting the wide gap between the two available suites. The entry-level one-bedroom offers 650 square feet at $3.38 per square foot, while the peak two-bedroom provides 2,125 square feet at $3.29 per square foot, meaning the larger suite actually commands a slightly lower rate per foot despite its triple-digit monthly premium.

The Derby's active den premium and associated square-footage delta are unquantified due to insufficient paired listing data, so no marginal cost per square foot for extra den space can be reliably stated. Parking stall premiums likewise cannot be isolated from the current sample; the available data contains anomalous outliers or too few paired observations to produce a defensible monthly figure, and no parking add-on cost should be assumed without direct confirmation from the leasing office.

The Derby's active asking rate of $3.34 per square foot sits 23.4 percent below the Downtown East submarket asking benchmark of $4.36 per square foot, making the building a rate-competitive option on a per-foot basis despite its higher nominal monthly rents. The average active asking rent of $4,600 per month exceeds the submarket average of $2,636 per month, but this variance is driven entirely by suite size: The Derby's 1,388-square-foot average footprint is substantially larger than the typical Downtown East listing, so the lower per-square-foot rate more accurately reflects the building's true pricing position. The two active listings represent 2 out of 192 available units in the submarket, or roughly 1 percent of total Downtown East rental inventory.

The Derby's average realized lease rent of $3,100 per month sits $710 above the overall comp benchmark of $2,390, a gap driven entirely by its larger suite footprint rather than a per-square-foot premium. The King East at 318 King St E (0.08 km, 10 closed leases) averaged $2,203 per month at $4.11 per square foot across 561 square feet; Trinity Lofts at 90 Trinity St (0.16 km, 4 closed leases) averaged $2,613 per month at $4.44 per square foot across 590 square feet; East United Condos at 120 Parliament St (0.2 km, 31 closed leases) averaged $2,317 per month at $4.24 per square foot across 565 square feet; and Bauhaus at 284 King Street E (0.2 km, 43 closed leases) averaged $2,428 per month at $4.31 per square foot across 580 square feet. The Derby commands a higher monthly rent than every one of these four active competitors—$897 above The King East, $487 above Trinity Lofts, $783 above East United Condos, and $672 above Bauhaus—while simultaneously offering 242 to 271 additional square feet of interior space in each comparison.

The Derby trades at a discount of $0.35 to $0.68 per square foot below every active nearby competitor, yet delivers 242 to 271 more interior square feet than each, making its higher nominal rent a direct function of footprint scale rather than asset-valuation premium. Against The King East (built in 2013, 561 sq ft), the subject offers a $0.35 per square foot (8.5%) discount while providing 271 more square feet; against Trinity Lofts (built in 2012, 590 sq ft), the discount widens to $0.68 per square foot (15.3%) with 242 additional square feet; against East United Condos (built in 2020, 565 sq ft), the subject trades at a $0.48 per square foot (11.3%) discount with 267 more square feet; and against Bauhaus (completed 2026, 580 sq ft), the discount is $0.55 per square foot (12.8%) with 252 additional square feet. A renter choosing The Derby over any of these four buildings pays more in total monthly dollars but receives materially more livable area at a lower cost per unit of space, a trade-off that favours tenants prioritizing interior volume over building-age or amenity density.

The Derby provides a single common facility—Concierge & Security—while every one of its four nearby competitors layers on gyms, rooftop terraces, party and lounge rooms, meeting spaces, BBQ areas, and in several cases saunas, pet-wash stations, or children's playgrounds. The King East (318 King St E) adds a rooftop terrace, gym, party room, meeting room, BBQ area, and garden courtyard; Trinity Lofts (90 Trinity St) layers in a fire pit and dry-cleaning service on top of its gym, rooftop, and meeting facilities; East United Condos (120 Parliament St) fields the deepest package with a yoga studio, sauna and steam room, pet-wash station, games room, media theatre, and wellness zone; and Bauhaus (284 King Street E) includes an outdoor children's playground and shared laundry room alongside its gym and rooftop. The Derby's lean, concierge-only profile suits cost-conscious professionals and long-term tenants who prioritize a larger private suite at a competitive per-square-foot rate over shared recreational infrastructure, trading lifestyle programming for interior space and a lower maintenance-fee structure.