Nicholas Residences — Rental Market Data

Nicholas Residences has two active rental listings as of August 31, 2026, with asking rents ranging from $3,600 to $3,800 per month and an average and median rent of $3,700 per month. Both available suites average 800 square feet at an asking rate of $4.64 per square foot, and the 2-Bedroom layout accounts for 100 percent of current inventory. Active availability leans toward mid-size two-bedroom suites rather than compact entry-level one-bedroom units, which currently have zero listings.

The 2-Bedroom layout is the sole active tier at Nicholas Residences, with two units representing 100 percent of available inventory at an average asking rent of $3,700 per month. Each 2-Bedroom suite averages 800 square feet at $4.64 per square foot, with individual listings spanning 750 to 850 square feet. No 1-Bedroom or 3-Bedroom units are currently available for rent in this building.

Nicholas Residences offers an active asking rent range from $3,600 to $3,800 per month, a $200 spread representing 5.6 percent between the entry and peak listings. The median asking rent sits at $3,700 per month, splitting the two available units evenly. The entry-level suite is a 2-Bedroom at 750 square feet priced at $4.80 per square foot, while the peak listing is a 2-Bedroom at 850 square feet priced at $4.47 per square foot, meaning the larger unit carries a lower rate per area.

Nicholas Residences does not have quantified den premium data in its current active listings, as no den-specific pricing differentials can be reliably isolated from the two available units. Active parking premiums also cannot be reliably determined from current listings due to insufficient paired samples, so no specific parking add-on cost should be assumed. However, verified historical lease data confirms a parking stall benchmark of $308 per month, which serves as a reasonable reference point for budgeting purposes.

Nicholas Residences asks an average of $3,700 per month at $4.64 per square foot, compared to the Downtown Core submarket asking benchmark of $3,471 per month at $4.56 per square foot. The building's 1.8 percent premium on a per-square-foot basis reflects its larger average suite size of 800 square feet versus the submarket norm, rather than a fundamentally steeper unit rate. Nicholas Residences represents two of the 224 active listings across the Downtown Core submarket, a modest 0.9 percent share of total available inventory.

Nicholas Residences averages $2,703 per month in closed lease rent, sitting $93 below the four-comp average of $2,796 and well under the Downtown Core submarket benchmark of $2,931. South District Condos at 681 Yonge Street leases at $2,098 per month ($3.04 per square foot, 710 sq ft), The Polo Club I at 1055 Bay St averages $2,436 ($4.05 per square foot, 621 sq ft), elev'n21 at 1121 Bay St commands $2,779 ($4.83 per square foot, 586 sq ft), and Crystal Blu at 21 Balmuto St reaches $3,872 ($4.34 per square foot, 981 sq ft). The subject building's rent therefore falls between Polo Club I and elev'n21, reflecting a mid-range price point anchored by its 600-square-foot average suite.

Nicholas Residences leases at $4.53 per square foot on an average 600-square-foot suite, positioning it above the comp average of $4.07 per square foot and the submarket benchmark of $4.48 per square foot. Against South District Condos (710 sq ft at $3.04 per square foot) and Crystal Blu (981 sq ft at $4.34 per square foot), the subject offers 110 and 381 fewer square feet respectively while carrying a higher per-square-foot rate, meaning renters trade space for a denser amenity package. The one exception is elev'n21, where the subject actually provides 14 more square feet at a $0.30-per-square-foot discount, making it the most space-efficient option in the set. Tenants choosing Nicholas Residences accept a compact footprint in exchange for a full-service lifestyle floor that rivals buildings twice its size.

Nicholas Residences delivers a ten-feature amenity suite that outperforms or differentiates from each nearby competitor on at least one signature offering. The building's indoor pool stands apart from the outdoor pools at The Polo Club I and Crystal Blu and the complete absence of any pool at South District Condos, giving tenants year-round aquatic access regardless of Toronto weather. The dedicated media and theatre room is absent from both South District Condos and The Polo Club I, while the full dining room and kitchen is not offered at The Polo Club I. A purpose-built BBQ area distinguishes the subject from Crystal Blu, which lists no outdoor cooking facility, and the games and billiards room is missing from both South District Condos and Crystal Blu. This combination—indoor pool, cinema-grade media room, communal dining, outdoor grilling, and a dedicated games space—serves young professionals and small households who want a single-building lifestyle package that eliminates the need for off-site recreation memberships.