Neo (Cityplace) — Rental Market Data

Neo (Cityplace) lists two active units as of August 31, 2026, with asking rents ranging from $2,350 to $3,000 per month, an average of $2,675, and a median of $2,675. The average suite size across both listings is 655 square feet at a blended asking rate of $4.10 per square foot. Inventory is evenly split between one-bedroom and two-bedroom layouts at 50 percent each, meaning neither compact entry-level suites nor multi-bedroom executive plans dominate the current offering.

The dominant active layout at Neo (Cityplace) is the one-bedroom, representing one of two available units (50 percent share) at an average asking rent of $2,350 per month on 560 square feet, or $4.20 per square foot. The two-bedroom tier also holds one listing (50 percent) at $3,000 per month across 750 square feet, translating to $4.00 per square foot. Both tiers are single-listing samples, so per-tier averages reflect individual transactions rather than a broader distribution.

Neo (Cityplace) spans a $650 asking-rent spread (27.7 percent) between its entry-level one-bedroom at $2,350 per month on 560 square feet ($4.20 per square foot) and its peak two-bedroom at $3,000 per month on 750 square feet ($4.00 per square foot). The median asking rent of $2,675 per month sits at the midpoint of this narrow two-unit range. The entry-level suite commands a slightly higher rate per square foot than the peak suite, reflecting the compact footprint of the one-bedroom layout.

Active den premiums at Neo (Cityplace) cannot be quantified because no paired den-versus-non-den listings exist in the current sample. Parking stall costs for active listings also cannot be reliably isolated due to an insufficient paired sample; however, verified historical lease data indicates a parking premium of $127 per month, which serves as a reasonable reference point for budgeting.

Neo (Cityplace) asks an average of $2,675 per month at $4.10 per square foot, compared to the CityPlace / Fort York submarket asking average of $3,101 per month at $4.58 per square foot—a 10.5 percent lower rate per square foot. The nominal rent gap of roughly $426 per month is largely explained by suite sizing: the building's 655-square-foot average listing is smaller than what the submarket asking benchmark implies, so the per-square-foot comparison is the more meaningful metric. Neo (Cityplace) accounts for 2 out of 148 active listings in the submarket, representing approximately 1.4 percent of total available inventory.

Neo (Cityplace) realized an average lease rent of $2,608 per month over its full leasing history, which is $480 below the four-comp benchmark of $3,088 and below every individual competitor in the immediate radius. Montage (Cityplace) at 25 Telegram Mews, 0.03 km away, closed 18 leases at an average of $2,693 per month ($4.13 per square foot across 655 square feet), placing the subject $85 lower on a monthly basis. Luna at Cityplace – Podium, LTD & Villas at 8 Telegram Mews, 0.08 km distant, recorded 12 closed leases averaging $2,981 per month ($3.89 per square foot over 778 square feet), with the subject trading $373 below that figure. N Tower (Cityplace) at 15 Fort York Blvd, 0.09 km out, closed 9 leases at $3,278 per month ($4.89 per square foot across 745 square feet), leaving the subject $670 lower. Canada House – West Tower at 3 Concord Cityplace Way, 0.14 km away, posted 52 closed leases at $3,399 per month ($4.79 per square foot over 705 square feet), with the subject realizing rent $791 below that level. All four competitors recorded active lease transactions, so each provides a realized pricing benchmark rather than a speculative listing figure.

Neo (Cityplace) leases at $4.10 per square foot across an average 648-square-foot suite, a combination that undercuts the comp benchmark of $4.43 per square foot and 721 square feet while delivering the lowest nominal monthly rent in the cluster. Against Montage (Cityplace), the subject trades at a $0.03 per square foot (0.7%) discount and provides 7 fewer interior square feet, a near-parity pairing where the slightly smaller footprint and marginally lower rate produce the $85 monthly gap. Luna at Cityplace presents the sharpest trade-off: the subject commands a $0.21 per square foot (5.4%) premium over Luna's $3.89 rate yet still realizes $373 less per month because it provides 130 fewer interior square feet—the nominal rent difference is driven entirely by the reduced footprint rather than a lower asset valuation. N Tower (Cityplace) and Canada House – West Tower both price well above the subject on a per-square-foot basis; Neo trades at a $0.79 per square foot (16.2%) discount below N Tower and a $0.69 per square foot (14.4%) discount below Canada House, while providing 97 and 57 fewer square feet respectively. In every active comparison, the subject's lower monthly rent reflects a smaller interior envelope paired with a competitive or slightly elevated rate per square foot, not a devaluation of the asset itself.

Neo (Cityplace) fields a 16-feature lifestyle package that includes a Karaoke Room, Dance Floor, and Rock Climbing Wall—three recreation amenities that no single competitor in the immediate radius replicates in full. Montage (Cityplace) shares the Rock Climbing Wall and most wellness features but lacks the Karaoke Room, Dance Floor, and Business Centre found at the subject. Luna at Cityplace offers an Outdoor Pool, Massage Studio, and Garden & Courtyard that Neo does not carry, yet it has no Rock Climbing Wall, Karaoke Room, or Dance Floor. N Tower (Cityplace) adds a Basketball Court and Pet Wash Station absent from Neo but omits the Yoga Studio, Karaoke Room, and Dance Floor. Canada House – West Tower, the newest delivery, layers on a Cold Plunge Pool, Outdoor Skating Rink, Dog Run, and Wine Tasting Room that Neo does not provide, while still lacking the Karaoke Room and Dance Floor. The subject's distinctive entertainment-forward mix—karaoke, dance floor, climbing wall, plus a full aquatic and wellness suite—targets young professionals and social renters aged 25–38 who want a turnkey recreational environment without the ultra-luxury price tag of the 2025-generation tower next door.