Market Data as of August 31, 2026

Lexington — Rental Market Data

45 Carlton St, Toronto, Ontario M5B 3H0

Quick Rent Estimate

Last Lease

2-Bedroom

Lease Amount

$4,199/mo

Date Leased: August 24, 2026

Rent psf$3.23/sf

Turnover Velocity19 Days

Active Inventory Status0 Available

Building Summary & Rental Market Overview

Rental market analytics and building profile as of August 31, 2026.

Building TypeCondominium

Year Completed1982

Total Suites321

DeveloperNew Style Construction

Lexington at 45 Carlton Street in Toronto's Downtown Core is a 321-suite residential building completed in 1982 by New Style Construction, and as of August 31, 2026, the tower is fully occupied with zero units currently listed for rent. The building's availability rate stands at 0 percent, and recent leasing activity shows one closed lease in the trailing 30 days at an average rent of $4,200 per month with a 19-day time on market, while the broader 90-day window captured three closed leases averaging $3,767 per month over 49 days on market.

With no active listings to benchmark, pricing intelligence draws on the building's tracked lease history: four closed transactions averaging $3,825 per month at $2.94 per square foot across an average suite footprint of 1,300 square feet. That realized rate sits 35.3 percent below the Downtown Core submarket asking benchmark of $4.56 per square foot, reflecting the building's larger-than-average suite sizes relative to the submarket's implied 761-square-foot asking footprint. The 30-day lease at $4,200 per month and $3.23 per square foot signals a modest step-up in realized pricing compared to the 90-day average of $2.90 per square foot, though the sample remains small.

Marketing friction cannot be assessed on active listings because none exist; however, the zero-delisting record alongside a 19-day 30-day DOM and 49-day 90-day DOM—both above the submarket average of 21 days—suggests that when units do come to market, leasing velocity trails the broader Downtown Core pace. Across all four tracked closed leases, tenants negotiated an average concession of $75 per month, or 2.04 percent below asking, with 50 percent of deals closing under the initial ask and an annualized savings of $900 per unit. Renter options are effectively zero at this building; prospective tenants should monitor the broader Downtown Core submarket, which currently carries 224 active listings, or set alerts for Lexington units as they become available.

Looking to compare? Explore more buildings in Downtown Core

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Last Realized Lease

Transaction metrics for the most recently leased suite

2-Bedroom

Lease Amount$4,199/mo

Date LeasedAugust 24, 2026

Rent psf$3.23/sf

Turnover Velocity19 Days

Active Inventory Status0 Available

Recent Leased Transactions & Contract Prices

Recent lease transactions, absorption velocity, and the difference between landlord asking prices and actual prices agreed to by tenants at Lexington (Data period: For the month of August 2026).

Units Leased1

Avg Leased Price$4,200

Avg Leased Size1,300 sf

Avg Days to Lease19d

Leased $/SF$3.23

Leased Transaction Insights & Questions

How many suites were leased at Lexington last month, and how fast did they rent?

Lexington at 45 Carlton Street recorded one closed lease in the trailing 30 days with a 19-day DOM, compared to a 49-day average across the 90-day window and a 21-day Downtown Core submarket benchmark. Over the past 90 days, three leases closed at an average of $3,767 per month, while the full trailing year and lifetime record both total four transactions. Leasing cadence at this 321-suite building remains thin, with roughly one closing per month spread unevenly across spring and summer 2026 rather than a steady weekly pipeline.

What is the negotiation spread between asking rents and closed lease prices at Lexington?

Lexington tenants negotiated an average monthly discount of $75 (2.04% below asking) across tracked leases, translating to $900 in annual savings per unit. Fifty percent of the four recorded closings settled under the listed asking price, confirming tenant leverage in a market where the building's 1,300-square-foot suites give renters room to push back on price. This is a landlord concession pattern, not a premium capture, and reflects the limited active inventory competing for attention in the Downtown Core submarket.

What are typical executed lease prices across different layouts at Lexington?

The 2-Bedroom + Den layout dominates Lexington's lease activity with three closings (75% of volume) at an average of $3,867 per month and a 50-day DOM, though this is a limited sample size and serves as a directional indicator only. The 2-Bedroom tier recorded a single transaction at $3,700 per month with a 4-day DOM, representing an individual deal rather than a broad statistical benchmark. Across both tiers, average suite size held at 1,300 square feet, with the Den layout pricing at $2.97 per square foot and the standard 2-Bedroom at $2.85 per square foot.

What measurable rent premium did suites with parking achieve in closed leases at Lexington?

Lexington's leased parking premium cannot be reliably isolated due to insufficient paired data linking specific suites to assigned parking spots. Active-listing parking figures are similarly inconclusive, flagged as unreliable outliers or an insufficient sample, so no defensible monthly parking surcharge can be quoted. Tenants evaluating total occupancy cost at 45 Carlton Street should confirm parking terms directly with the leasing office rather than relying on platform-derived averages.

How does the lease-to-listing ratio at Lexington reflect current tenant demand?

Lexington's four tracked leases across spring and late summer 2026 show a volatile rent trajectory ranging from $3,400 to $4,200 per month with no consistent directional trend. April closed one deal at $4,000 per month ($3.08 per square foot) in just 7 days on market. June saw a single lease at $3,400 per month ($2.62 per square foot) but took 125 days to close, the longest DOM in the dataset. July recovered to $3,700 per month ($2.85 per square foot) with a 4-day DOM, and August peaked at $4,200 per month ($3.23 per square foot) over 19 days. The June dip reflects a genuine per-square-foot concession rather than a smaller suite footprint, as all tracked leases sit near 1,300 square feet.

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.

Suite Filters

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Unit Type

Parking

Den

Chart Metrics

Max 2 Plotted

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Left AxisAsking Price

Avg Asking Price

Right AxisUnits Available

Avg Units Available

Historical statistics trends for active listings
Date	Units Available	Avg Price ($)	Avg SqFt (SF)	Avg PSF ($/SF)	Avg DOM (Days)
2026-04-27	1	3600	1300	2.77	85
2026-04-28	1	3600	1300	2.77	86
2026-04-29	2	4000	1300	3.08	44
2026-04-30	2	4000	1300	3.08	45
2026-05-01	2	4000	1300	3.08	46
2026-05-02	2	4000	1300	3.08	47
2026-05-03	2	4000	1300	3.08	48
2026-05-04	2	4000	1300	3.08	49
2026-05-05	2	4000	1300	3.08	50
2026-05-06	2	4000	1300	3.08	51
2026-05-07	2	4000	1300	3.08	52
2026-05-08	2	4000	1300	3.08	53
2026-05-09	2	4000	1300	3.08	54
2026-05-10	2	4000	1300	3.08	55
2026-05-11	2	4000	1300	3.08	56
2026-05-12	2	4000	1300	3.08	57
2026-05-13	1	3600	1300	2.77	101
2026-05-14	1	3600	1300	2.77	102
2026-05-15	1	3600	1300	2.77	103
2026-05-16	1	3600	1300	2.77	104
2026-05-17	1	3600	1300	2.77	105
2026-05-18	1	3600	1300	2.77	106
2026-05-19	1	3600	1300	2.77	107
2026-05-20	1	3600	1300	2.77	108
2026-05-21	1	3600	1300	2.77	109
2026-05-22	1	3600	1300	2.77	110
2026-05-23	1	3600	1300	2.77	111
2026-05-24	1	3600	1300	2.77	112
2026-05-25	1	3600	1300	2.77	113
2026-05-26	1	3600	1300	2.77	114
2026-05-27	1	3600	1300	2.77	115
2026-05-28	1	3600	1300	2.77	116
2026-05-29	1	3600	1300	2.77	117
2026-05-30	1	3600	1300	2.77	118
2026-05-31	1	3600	1300	2.77	119
2026-06-01	1	3600	1300	2.77	120
2026-06-02	1	3600	1300	2.77	121
2026-06-03	1	3600	1300	2.77	122
2026-06-04	1	3600	1300	2.77	123
2026-06-05	1	3600	1300	2.77	124
2026-06-09	1	4399	1300	3.38	N/A
2026-06-10	1	4399	1300	3.38	1
2026-06-11	1	4399	1300	3.38	2
2026-06-12	1	4399	1300	3.38	3
2026-06-13	1	4399	1300	3.38	4
2026-06-14	1	4399	1300	3.38	5
2026-06-15	1	4399	1300	3.38	6
2026-06-16	1	4399	1300	3.38	7
2026-06-17	1	4399	1300	3.38	8
2026-06-18	1	4399	1300	3.38	9
2026-06-19	1	4399	1300	3.38	10
2026-06-20	1	4399	1300	3.38	11
2026-06-21	1	4399	1300	3.38	12
2026-06-22	1	4399	1300	3.38	13
2026-06-23	1	4399	1300	3.38	14
2026-06-24	1	4399	1300	3.38	15
2026-06-25	1	4399	1300	3.38	16
2026-06-26	1	4399	1300	3.38	17
2026-06-27	1	4399	1300	3.38	18
2026-06-28	1	4399	1300	3.38	19
2026-06-29	1	4399	1300	3.38	20
2026-06-30	1	4399	1300	3.38	21
2026-07-01	1	4399	1300	3.38	22
2026-07-02	1	4399	1300	3.38	23
2026-07-03	1	4399	1300	3.38	24
2026-07-04	1	4399	1300	3.38	25
2026-07-05	1	4399	1300	3.38	26
2026-07-06	1	4399	1300	3.38	27
2026-07-07	1	4399	1300	3.38	28
2026-07-08	1	4399	1300	3.38	29
2026-07-09	2	4100	1300	3.15	15
2026-07-10	2	4100	1300	3.15	16
2026-07-11	2	4100	1300	3.15	17
2026-07-12	2	4100	1300	3.15	18
2026-07-13	1	4399	1300	3.38	34
2026-07-14	1	4399	1300	3.38	35
2026-07-15	1	4399	1300	3.38	36
2026-07-16	1	4399	1300	3.38	37
2026-07-17	1	4399	1300	3.38	38
2026-07-18	1	4399	1300	3.38	39
2026-07-19	1	4399	1300	3.38	40
2026-07-20	1	4399	1300	3.38	41
2026-07-21	1	4399	1300	3.38	42
2026-07-22	1	4399	1300	3.38	43
2026-07-23	1	4399	1300	3.38	44
2026-07-24	1	4399	1300	3.38	45
2026-07-25	1	4399	1300	3.38	46
2026-07-26	1	4399	1300	3.38	47
2026-07-27	1	4399	1300	3.38	48
2026-08-05	1	4199	1300	3.23	N/A
2026-08-06	1	4199	1300	3.23	1
2026-08-07	1	4199	1300	3.23	2
2026-08-08	1	4199	1300	3.23	3
2026-08-09	1	4199	1300	3.23	4
2026-08-10	1	4199	1300	3.23	5
2026-08-11	1	4199	1300	3.23	6
2026-08-12	1	4199	1300	3.23	7
2026-08-13	1	4199	1300	3.23	8
2026-08-14	1	4199	1300	3.23	9
2026-08-15	1	4199	1300	3.23	10
2026-08-16	1	4199	1300	3.23	11
2026-08-17	1	4199	1300	3.23	12
2026-08-18	1	4199	1300	3.23	13
2026-08-19	1	4199	1300	3.23	14
2026-08-20	1	4199	1300	3.23	15
2026-08-21	1	4199	1300	3.23	16
2026-08-22	1	4199	1300	3.23	17
2026-08-23	1	4199	1300	3.23	18

12-Month Market Dynamics & Trend Trajectory

Lexington's average realized rent of $3,825 per month sits roughly 30% above the Downtown Core submarket average of $2,931, yet the building's $2.94 per square foot rate trails the submarket's $4.48 per square foot by more than a third. This inversion exists because Lexington's 1,300-square-foot suites are nearly double the submarket-implied average of 761 square feet, so the rent premium is a function of sheer floor area rather than a per-unit-area luxury markup. On pricing discipline, 50% of the four tracked leases closed below asking, with tenants extracting an average $75-per-month (2.04%) concession that annualizes to $900 in savings per unit. The net negotiation spread of -$75 per month confirms a tenant-favorable dynamic where landlords at 45 Carlton Street are conceding on price to move inventory, particularly notable given the building's 39-day average DOM versus the submarket's 21-day benchmark.

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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.

Property & transaction filters

Unit type

Parking

Den

Lease vs Asking Price Performance

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Latest leased insights and trends

Left AxisLeased Price

Avg Leased Price

Right AxisUnits Leased

Avg Units Leased

Historical statistics trends for leased transactions
Date	Units Leased	Avg Leased Price ($)	Avg SqFt (SF)	Avg PSF ($/SF)	Avg DOM (Days)
2026-05-31	1	3400	1300	2.62	125
2026-06-07	0	N/A	N/A	N/A	N/A
2026-06-14	0	N/A	N/A	N/A	N/A
2026-06-21	0	N/A	N/A	N/A	N/A
2026-06-28	0	N/A	N/A	N/A	N/A
2026-07-05	0	N/A	N/A	N/A	N/A
2026-07-12	1	3700	1300	2.85	4
2026-07-19	0	N/A	N/A	N/A	N/A
2026-07-26	0	N/A	N/A	N/A	N/A
2026-08-02	0	N/A	N/A	N/A	N/A
2026-08-09	0	N/A	N/A	N/A	N/A
2026-08-16	0	N/A	N/A	N/A	N/A
2026-08-23	1	4200	1300	3.23	19

Nearby Building Rental Comparables & Price Spreads

Direct rental rate comparisons against residential properties in the immediate vicinity.

Lexington at 45 Carlton St sits in a dense cluster of mid-rise and high-rise residential buildings along Carlton and Church streets in Toronto's Downtown Core. The three active competitors within 150 metres are Encore at The Met II (25 Carlton St, 0.09 km, built in 2009, 13 closed leases over the trailing 180 days), The Met (21 Carlton St, 0.11 km, built in 2008, 32 closed leases), and Stanley Condos (403 Church St, 0.14 km, built in 2020, 51 closed leases). A fourth reference building, 377 Church Street N (0.14 km, estimated completion 2026), recorded only a single lease transaction and, given its future completion date, serves as an architectural and amenity reference rather than an active pricing benchmark. The active peer set spans a 12-year construction window from 2008 to 2020, while Lexington, built in 1982, predates all three by two decades or more. The overall comp benchmark across the four nearby buildings averages $2,393 per month, $4.12 per square foot, and 593 square feet of interior space. Lexington's realized lease metrics—$3,825 per month at $2.94 per square foot across an average 1,300-square-foot suite—place it well above the comp set on total monthly rent yet materially below on rate per square foot. The building's 321-suite inventory and 1982 construction date position it as a large-format, older-asset play in a pocket where newer, smaller-footprint buildings dominate the transaction volume. Against the Downtown Core submarket average of $2,931 per month and $4.48 per square foot, Lexington trades at a 35.3 percent discount on a per-square-foot basis while delivering roughly double the interior footprint of the typical comp suite.

Encore at The Met II85 m

25 Carlton St, Toronto

Avg Asking$2,593/mo

Avg $/SF$4.30

Rent Spread:

N/A

The Met114 m

21 Carlton St, Toronto

Avg Asking$2,810/mo

Avg $/SF$3.95

Rent Spread:

N/A

377 Church Street N138 m

377 Church Street N, Toronto

Avg Asking$1,850/mo

Avg $/SF$3.89

Rent Spread:

N/A

Stanley Condos139 m

403 Church St, Toronto

Avg Asking$2,391/mo

Avg $/SF$4.25

Rent Spread:

N/A

The Ellington155 m

7 Carlton St, Toronto

Avg Asking$3,092/mo

Avg $/SF$3.96

Rent Spread:

N/A

365 Church158 m

365 Church St, Toronto

Avg Asking$2,397/mo

Avg $/SF$4.35

Rent Spread:

N/A

Comparable Analysis & Questions

How do rental rates at Lexington compare to neighbouring buildings within Downtown Core?

Lexington's average realized lease rent of $3,825 per month exceeds the overall comp benchmark of $2,393 by $1,432, a gap driven entirely by the building's significantly larger suite footprints rather than a higher rate per square foot. Encore at The Met II (25 Carlton St, 0.09 km, 13 closed leases) recorded an average rent of $2,522 at $4.27 per square foot across 604 square feet; The Met (21 Carlton St, 0.11 km, 32 closed leases) averaged $2,811 at $3.95 per square foot over 724 square feet; and Stanley Condos (403 Church St, 0.14 km, 51 closed leases) posted $2,389 at $4.35 per square foot across 567 square feet. 377 Church Street N (0.14 km), with an estimated 2026 completion and only one recorded lease transaction, offers no reliable realized-rent benchmark and functions as a forward-looking architectural reference at $1,850 per month and $3.89 per square foot over 475 square feet.

Does Lexington offer a competitive price-per-square-foot ($/SF) against local comparables?

Lexington's leased rate of $2.94 per square foot across an average 1,300-square-foot suite undercuts the Downtown Core submarket benchmark of $4.48 per square foot by 35.3 percent while delivering more than double the interior space of the typical comp offering. Against Encore at The Met II, the subject trades at a $1.33 per square foot (31.1 percent) discount yet provides 696 more interior square feet, meaning the $1,303 higher monthly rent is a function of the larger footprint rather than a premium valuation per unit of space. The same dynamic holds against The Met, where Lexington offers a $1.01 per square foot (25.6 percent) discount and 576 additional square feet, and against Stanley Condos, where the discount widens to $1.41 per square foot (32.4 percent) with 733 extra square feet. In every active comparison, the nominal rent differential is explained by the building's substantially larger interior footprint; a renter paying more in absolute dollars is purchasing materially more living area at a lower unit cost.

How do building age, amenities, and developer reputation impact rent spreads?

Lexington's 13-amenity package—including an indoor track, squash and racquetball court, indoor pool, hot tub and jacuzzi, sauna and steam room, library and reading room, and rooftop terrace—positions it as the most recreation-dense building in this immediate Carlton and Church street pocket. The indoor track and squash court are signature features absent from every nearby competitor: Encore at The Met II (25 Carlton St) substitutes a media theatre room, dining kitchen, and pet spa for those athletic facilities; The Met (21 Carlton St) offers a yoga studio, business centre, and massage rooms in their place; and Stanley Condos (403 Church St) provides a shared laundry room, gardening room, and dining kitchen but no aquatic or court-sport amenities at all. 377 Church Street N carries no common facilities whatsoever. The building's lifestyle package—combining aquatic wellness, court sports, a dedicated indoor running track, and a library—serves the active, fitness-oriented professional or family renter who prioritizes on-site recreation over the dining, media, and pet-service amenities that dominate the newer peer set.

Building Amenities, Transit & Neighbourhood Features

Building amenities and neighbouring residential communities around Lexington.

Building Amenities

Concierge & Security
Gym & Fitness Centre
Indoor Pool
Hot Tub & Jacuzzi
Sauna & Steam Room
Squash & Racquetball Court
Party & Lounge Room
Meeting Room
Games & Billiards Room
Library & Reading Room
Rooftop Terrace
BBQ Area
Indoor Track

Residential Buildings in the Vicinity

Data Methodology & Analytical Standards

How FastScreen aggregates public listing records, tracks active inventory, and calculates rental market metrics for Lexington.

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.