Form Condos — Rental Market Data

Form Condos at 50 McCaul Street has four active rental listings as of August 31, 2026, with asking rents ranging from $1,800 to $3,500 per month, an average of $2,738, and a median of $2,825. The active inventory averages 675 square feet at $4.11 per square foot, split evenly between one-bedroom suites (600 sq ft average) and two-bedroom layouts (750 sq ft average). The current mix leans toward compact entry-level one-bedrooms and mid-size two-bedrooms rather than multi-bedroom executive configurations, with no den or three-bedroom units in the active pool.

The dominant active layout at Form Condos is the one-bedroom, with two listings representing 50 percent of available inventory at an average asking rent of $2,825 per month across 600 square feet ($4.70 per square foot). The two-bedroom tier also holds two listings at 50 percent share, averaging $2,650 per month over 750 square feet at $3.53 per square foot. Both tiers represent small selections of two units each, meaning renters face limited choice within any single bedroom category.

Form Condos shows an active asking spread of $1,700 per month (94.4 percent), ranging from a minimum entry rent of $1,800 to a peak asking rent of $3,500. The median asking rent sits at $2,825 per month. The entry-level listing is a two-bedroom suite of 750 square feet priced at $2.40 per square foot, while the peak listing is also a two-bedroom of 750 square feet but commanding $4.67 per square foot, reflecting a significant per-foot premium on the top unit despite identical footprint.

Active den premiums at Form Condos cannot be quantified, as no den configurations are currently listed and the paired-sample data is insufficient to isolate a reliable marginal cost per square foot for additional den space. Verified parking data from closed leases indicates a $261-per-month stall premium, but the active listing sample does not support a reliable parking add-on figure due to outlier or insufficient paired observations.

Form Condos' active asking average of $2,738 per month and $4.11 per square foot both trail the Downtown West submarket benchmarks of $3,080 per month and $4.81 per square foot, positioning the building 14.6 percent below the area asking rate on a per-foot basis. The nominal rent gap of roughly $342 per month is explained by the building's 675-square-foot average active footprint versus the submarket's larger average suite sizes, making the per-square-foot comparison the more accurate measure of value. Form Condos accounts for four out of 170 active listings in the Downtown West submarket, a 2.4 percent share of total available inventory.

Form Condos' all-time average realized lease rent of $2,896 per month exceeds the four-building comp benchmark of $2,463 by $433, with the two active peers—Village by the Grange IV and Village by the Grange II—serving as the primary pricing references. Village by the Grange IV at 53 McCaul St (0.05 km, 2 closed leases) averaged $2,400 per month at $4.04 per square foot across 600 square feet, meaning the subject commands a rent $496 per month higher. Village by the Grange II at 80 St Patrick St (0.10 km, 3 closed leases) averaged $2,525 per month at $4.10 per square foot across 617 square feet, placing the subject $371 per month above that mark. Grangetown Lofts at 71 McCaul Street (0.08 km) and Village by the Grange I at 60 St Patrick St (0.08 km) each recorded zero closed leases over the trailing 180 days and therefore carry no realized rent benchmark for direct comparison.

Form Condos leases at $4.31 per square foot across an average 676-square-foot suite, positioning it at a premium on both rate and footprint relative to the active comp set averaging $4.07 per square foot and 609 square feet, while still sitting below the Downtown West submarket leased benchmark of $4.55 per square foot. Against Village by the Grange IV, the subject trades at a $0.27 per square foot (6.7%) premium and provides 76 more interior square feet, so the $496-per-month rent gap is driven by both a larger interior footprint and a higher per-square-foot rate rather than asset-valuation arbitrage alone. Against Village by the Grange II, the subject commands a $0.21 per square foot (5.1%) premium with 59 additional square feet, producing a $371-per-month differential that similarly reflects a combination of greater space and a stronger per-square-foot valuation. In both cases the renter pays more in total because the unit is physically larger and priced at a higher rate, not because of a single isolated pricing anomaly.

Form Condos offers a nine-item amenity suite anchored by a Yoga Studio, Meeting Room, and Dining Room & Kitchen—features absent from every nearby competitor—while the 1983-era Village by the Grange buildings and Grangetown Lofts lean heavily on aquatic and wellness facilities (indoor and outdoor pools, hot tubs, saunas) that the subject does not provide. The subject's remote-work and social package (Meeting Room, Media & Theatre Room, Party & Lounge Room, Rooftop Terrace with BBQ Area) targets professionals who prioritize flexible workspaces and indoor social programming over resort-style recreation. Grangetown Lofts and Village by the Grange II additionally offer a Dog Run and Games & Billiards Room, while Village by the Grange IV includes a Library & Reading Room and Inner Shopping & Dining; none of these appear in Form Condos' roster. The building's lifestyle package best serves young professionals and small households who value a curated, low-maintenance social and wellness environment—yoga, shared dining, rooftop entertaining, and on-site meeting space—over the pool-and-spa amenity model that defines the surrounding 1983 stock.