Pearl Place — Rental Market Data

Pearl Place has four active rental listings as of August 31, 2026, with asking rents ranging from $2,250 to $2,550 per month, an average of $2,449, and a median of $2,498. The average active suite measures 605 square feet at an asking rate of $4.06 per square foot. Three of the four units (75 percent) are 1-Bedroom + Den configurations, indicating that current inventory leans toward slightly larger one-bedroom-plus-dens rather than compact studio or pure one-bedroom entry-level layouts.

The dominant active layout at Pearl Place is the 1-Bedroom + Den, accounting for three of four available units and 75 percent of active inventory at an average asking rent of $2,515 per month across 617 square feet and $4.10 per square foot. The remaining 25 percent is a single 1-Bedroom listing at $2,250 per month, 570 square feet, and $3.95 per square foot. Renter choice is therefore concentrated in the den-equipped tier, with only one pure one-bedroom option available at the current time.

Pearl Place's active asking rents span a $300 spread from a minimum of $2,250 to a peak of $2,550 per month, a 13.3 percent range across four listings. The median asking rent sits at $2,498 per month. The entry-level suite is a 1-Bedroom at 570 square feet and $3.95 per square foot, while the peak asking unit is a 1-Bedroom + Den at 650 square feet and $3.92 per square foot, meaning the top-priced listing actually commands a slightly lower rate per square foot due to its larger footprint.

At Pearl Place, adding a den to a one-bedroom layout carries a verified premium of $265 per month for an additional 47 square feet, equating to a marginal cost of $5.64 per square foot for the extra space. Verified active parking premiums are quoted at $105 per month, while historical lease data shows parking add-ons averaging $255 per month across closed transactions.

Pearl Place's active asking average of $2,449 per month sits below the North York City Centre submarket asking benchmark of $2,753, yet the building's rate of $4.06 per square foot runs 5.7 percent above the submarket asking rate of $3.84 per square foot. The nominal rent gap resolves through suite sizing: Pearl Place's active average of 605 square feet is more compact than the submarket norm, so renters pay a higher per-square-foot rate for a smaller footprint. The building represents four out of 216 active listings in the North York City Centre submarket, or roughly 1.9 percent of total available inventory.

Pearl Place's all-time average realized lease rent of $2,561 per month lands $129 below the four-comp benchmark of $2,690, with the spread driven primarily by two older, larger-footprint towers on either side of the subject. Platinum Towers I at 23 Hollywood Ave (0.07 km, 14 closed leases) averaged $2,773 per month at $3.51 per square foot across 811 square feet, placing the subject $212 lower in nominal rent. Ultima II – South at 4968 Yonge St (0.08 km, 16 closed leases) averaged $2,531 per month at $3.63 per square foot over 705 square feet, meaning the subject trades $30 higher. Platinum XO at 18 Spring Garden Ave (0.08 km, 8 closed leases) posted the highest comp rent at $2,988 per month, $3.30 per square foot, and 919 square feet, leaving the subject $427 below that mark. Ultima I – North at 4978 Yonge St (0.1 km, 21 closed leases) averaged $2,468 per month at $3.55 per square foot across 707 square feet, with the subject $93 higher. All four competitors recorded active lease volume, so no zero-deal reference buildings require exclusion from this comparison.

Pearl Place's leased rate of $4.13 per square foot across an average 633-square-foot suite commands a clear per-square-foot premium over every active competitor in this pocket, yet the smaller interior footprint keeps the total monthly rent at or below most peer benchmarks. Against Platinum Towers I, the subject trades at a $0.62 per square foot (17.7 percent) premium while providing 178 fewer interior square feet, so the $212 lower nominal rent reflects the reduced footprint rather than a weaker asset valuation. Versus Ultima II – South, the subject carries a $0.50 per square foot (13.8 percent) premium and 72 fewer square feet, yet still posts a $30 higher monthly rent—a combination where the newer construction and amenity package justify the rate differential despite the compact layout. Platinum XO presents the widest gap: the subject commands a $0.83 per square foot (25.2 percent) premium while delivering 286 fewer square feet, which explains why the total rent sits $427 below that 2009 tower's larger suites. Against Ultima I – North, the subject trades at a $0.58 per square foot (16.3 percent) premium with 74 fewer square feet and a $93 higher monthly rent, reinforcing that Pearl Place's value proposition rests on newer construction, a denser amenity package, and a premium per-square-foot rate rather than raw interior volume.

Pearl Place offers a 13-item lifestyle suite that overlaps heavily with its four nearby competitors but differentiates through a rooftop terrace, dedicated BBQ area, and a full dining room and kitchen—features absent from Platinum Towers I, Platinum XO, and Ultima I – North. The subject's indoor pool, hot tub and jacuzzi, sauna and steam room, gym, games and billiards room, party and lounge room, meeting room, media and theatre room, library and reading room, and concierge and security form a baseline shared across all four peers. Where the contrast sharpens: Platinum Towers I and Platinum XO each include a bowling alley that Pearl Place does not carry, while Ultima II – South and Ultima I – North offer a golf simulator and (in Ultima II's case) a business centre that the subject lacks. Conversely, Pearl Place's rooftop terrace and BBQ area are missing from Platinum Towers I, Ultima II – South, and Platinum XO, and its dining room and kitchen are absent from Platinum Towers I, Platinum XO, and Ultima I – North. This package—aquatic wellness, a social dining and entertainment core, and open-air rooftop living without niche recreational add-ons like bowling or golf simulation—best serves young professional and dual-income tenants in the 25-to-40 range who prioritize social hosting, fitness, and a turnkey urban lifestyle over specialized hobby facilities.