Nordic — Rental Market Data

Nordic at 500 Wilson Avenue carries 11 active listings as of August 31, 2026, with asking rents spanning $1,850 to $3,350 per month, an average of $2,473 and a median of $2,500. The average active suite measures 623 square feet at an asking rate of $4.15 per square foot, and the inventory leans toward compact entry-level and mid-size layouts, with one-bedroom-plus-den units representing 45.5 percent of available stock. Multi-bedroom executive layouts account for the remaining 27.3 percent in two-bedroom units and 18.2 percent in three-bedroom-plus suites, supplemented by a single two-bedroom-plus-den listing.

The dominant active layout at Nordic is the one-bedroom-plus-den, with five listings representing 45.5 percent of available inventory at an average asking rent of $2,060 per month across 460 square feet and a rate of $4.54 per square foot. Two-bedroom units follow with three listings at 27.3 percent share, averaging $2,500 per month over 603 square feet at $4.17 per square foot, while three-bedroom-plus suites hold two listings at 18.2 percent with an average of $3,275 per month across 850 square feet at $3.85 per square foot. A single two-bedroom-plus-den listing rounds out the mix at 9.1 percent, asking $2,850 per month for 1,049 square feet at $2.72 per square foot.

Nordic's active asking rents range from a minimum of $1,850 to a peak of $3,350 per month, producing a dollar spread of $1,500 and a percentage spread of 81.1 percent. The median asking rent sits at $2,500 per month, anchoring the mid-range of the tower's current availability. The entry-level suite is a one-bedroom-plus-den measuring 400 square feet at $4.63 per square foot, while the peak listing is a three-bedroom-plus unit spanning 850 square feet at $3.94 per square foot.

Active den premiums at Nordic cannot be reliably isolated, as the den dollar delta and marginal cost per square foot are unquantified in the current dataset. Verified parking stall costs are confirmed at $158 per month for active listings, consistent with the $170 per month observed in closed lease transactions. Renters should budget the verified $158 monthly parking add-on when comparing all-in occupancy costs against competing Downsview towers.

Nordic's average asking rent of $2,473 per month and $4.15 per square foot sit marginally above the Downsview submarket asking benchmarks of $2,472 per month and $3.87 per square foot, a 7.2 percent per-square-foot premium. The near-identical nominal rent figures mask a meaningful footprint difference: Nordic's active suites average 623 square feet versus the submarket's broader mix, meaning the tower's premium is driven by larger layouts rather than a pure rate markup. Nordic represents 11 out of 97 available listings in the Downsview submarket, or approximately 11.3 percent of current active inventory.

Nordic's all-time average realized lease rent of $2,247 per month sits $133 below the four-comp benchmark of $2,380, with every nearby competitor recording a higher average lease rate. Gramercy Park at 525 Wilson Ave (0.18 km, 15 closed leases) averaged $2,389 per month at $3.79 per square foot across 669 square feet; Southside Residences at Gramercy Park at 31 Tippett Rd (0.20 km, 31 closed leases) averaged $2,305 per month at $3.66 per square foot across 646 square feet; The Station at 555-565 Wilson Ave (0.27 km, 14 closed leases) averaged $2,526 per month at $3.34 per square foot across 828 square feet; and Express Condos at 8 Tippett Rd (0.34 km, 23 closed leases) averaged $2,301 per month at $3.78 per square foot across 633 square feet. All four competitors posted active lease transactions over the trailing 180 days, so each provides a realized rent benchmark rather than a listing-only reference.

Nordic commands a per-square-foot premium over every active competitor while delivering fewer interior square feet, meaning the lower nominal monthly rent reflects a smaller suite footprint rather than a weaker asset valuation. Against Gramercy Park, the subject trades at a $0.20 per square foot (5.3%) premium while providing 95 fewer interior square feet, so the $142-per-month rent gap is a direct function of the 669-to-574 square-foot delta. Southside Residences at Gramercy Park shows a wider $0.33 per square foot (9.0%) premium with 72 fewer square feet, producing a $58 monthly difference. The Station presents the sharpest contrast: the subject carries a $0.65 per square foot (19.5%) premium yet provides 254 fewer square feet, which explains the $279-per-month rent gap entirely through the 828-to-574 square-foot spread. Express Condos rounds out the set with a $0.21 per square foot (5.6%) premium and 59 fewer square feet, a $54 monthly difference. In every case, the rent differential is a space-volume trade-off, not a discount on Nordic's per-unit pricing power.

Nordic offers a practical, pet-forward lifestyle package that diverges sharply from the pool-and-rooftop-heavy amenity profiles of all four nearby competitors. The building's signature features—a Business Centre, Dog Run, Outdoor Calisthenics Area, and Parcel Room—do not appear in Gramercy Park, Southside Residences at Gramercy Park, The Station, or Express Condos, giving Nordic a distinct edge for remote workers and pet-owning tenants. Conversely, every one of the four competitors includes a Rooftop Terrace, and three of the four (Gramercy Park, Southside, and The Station) add an indoor or outdoor pool, sauna or steam room, and media or games room, none of which Nordic provides. The trade-off is clear: a renter at Nordic gains dedicated business workspace, a purpose-built dog run with an on-site wash station, and open-air calisthenics equipment in exchange for forgoing the aquatic, rooftop, and entertainment amenities that define the older 2013–2016 buildings. This package best serves cost-conscious young professionals and pet owners in their mid-twenties to early thirties who value functional daily-use amenities—remote-work infrastructure, pet care, and outdoor fitness—over resort-style leisure facilities.