1Thousand Bay — Rental Market Data

1Thousand Bay at 57 St Joseph St closed 16 leases in the trailing 30 days with an average DOM of 14 days, well ahead of the Downtown Core submarket benchmark of 21 days. Over the past 90 days, the building absorbed 47 leases at a 17-day average DOM, and the full-year total stands at 64 closings at a 19-day average. Leasing turnover accelerated sharply from spring into late summer, with monthly closed deals climbing from 5 in April to a sustained 16 per month by July and August, signaling strong tenant demand and minimal vacancy carry.

1Thousand Bay tenants negotiated an average discount of $28 per month (1.05% below asking), translating to $336 in annual savings per unit across tracked leases. 37.5% of all 64 closed leases settled under the listed asking price, confirming measurable tenant leverage in this submarket. The remaining leases closed at or near asking, but the consistent direction of concessions indicates landlords are offering modest pushback on price to maintain absorption velocity rather than holding firm on list rates.

The 1-Bedroom + Den and 1-Bedroom layouts anchor 1Thousand Bay's leasing volume, accounting for 39.1% and 37.5% of all closed leases respectively. The 1-Bedroom + Den (25 leases, robust sample) averaged $2,679 per month with a median of $2,650, a P25–P75 range of $2,500–$2,850, an average size of 571 sq ft at $4.83 per square foot, and a 25-day DOM. The 1-Bedroom (24 leases, robust sample) averaged $2,314 per month with a median of $2,350, a P25–P75 range of $2,188–$2,450, an average size of 494 sq ft at $5.09 per square foot, and a 16-day DOM. Studios (8 leases, moderate sample) averaged $2,138 per month with a median of $2,100, a P25–P75 range of $2,050–$2,200, an average size of 396 sq ft at $5.39 per square foot, and a 15-day DOM. Two-bedroom suites (3 leases) represent a limited sample and serve as a directional indicator only, averaging $3,677 per month with a median of $3,800, a P25–P75 range of $3,565–$3,850, an average size of 750 sq ft at $4.90 per square foot, and a 24-day DOM. Three-bedroom-plus layouts (4 leases) are likewise a small sample for directional reference, averaging $4,549 per month with a median of $4,598, a P25–P75 range of $4,421–$4,725, an average size of 925 sq ft at $4.92 per square foot, and a 12-day DOM.

1Thousand Bay's leased parking premium cannot be reliably isolated due to insufficient paired data linking specific suites to parking assignments. Active asking parking rates are similarly inconclusive, flagged as unreliable due to anomalous outliers or an insufficient sample. Tenants should treat any parking fee quoted by a leasing agent as a separate negotiation item rather than a bundled component of the base rent, and verify the exact monthly charge in writing before signing.

1Thousand Bay rents climbed steadily from spring through late summer 2026, rising from an April average of $2,210 per month to $2,948 by August. April saw 5 closed deals at $4.51 per square foot with a 25-day DOM. May brought 11 closings at $2,427 per month and $4.77 per square foot, still at a 25-day DOM. June accelerated to 16 deals at $2,575 per month and $5.07 per square foot with a 24-day DOM. July held at 16 closings, pushing the average to $2,669 per month and $5.21 per square foot while DOM compressed to 14 days. August maintained 16 deals at $2,948 per month and $5.05 per square foot with a 14-day DOM. The slight dip in per-square-foot rate from July to August reflects a shift toward larger suite footprints in the August mix rather than any devaluation of the building's pricing power.