The Mercer — Rental Market Data

The Mercer at 8 Mercer Street carries two active listings as of August 31, 2026, with asking rents ranging from $2,300 to $2,500 per month and an average and median of $2,400. Both suites measure 550 square feet, yielding an average asking rate of $4.36 per square foot. The inventory is split evenly between a one-bedroom and a one-bedroom-plus-den layout, placing the current availability squarely in the compact entry-level segment rather than multi-bedroom executive space.

The dominant active layout at The Mercer is the one-bedroom, holding one of two listings and representing 50 percent of current inventory at an average asking rent of $2,300 per month on 550 square feet, or $4.18 per square foot. The one-bedroom-plus-den tier also holds a single listing at 50 percent share, asking $2,500 per month on the same 550-square-foot footprint at $4.55 per square foot. Both tiers are single-listing samples, so neither offers a multi-unit comparison set for renters evaluating value within a bedroom category.

The Mercer's two active listings span a $200 spread, or 8.7 percent, from a minimum entry rent of $2,300 per month to a peak asking rent of $2,500 per month. The median asking rent sits at $2,400, splitting the range cleanly. The entry-level one-bedroom offers 550 square feet at $4.18 per square foot, while the peak one-bedroom-plus-den unit delivers the same 550-square-foot footprint at $4.55 per square foot, meaning the $200 premium buys den flexibility rather than additional living area.

The Mercer's active den premium is $200 per month, but the square footage delta between the one-bedroom and one-bedroom-plus-den listings is zero, leaving the marginal cost per square foot for extra den space unquantified. Active parking premiums cannot be reliably isolated from current listings due to insufficient paired sample data. Historical leases at the building, however, established a verified parking stall cost of $342 per month, which serves as the most recent benchmark for budgeting purposes.

The Mercer's active asking rent of $2,400 per month and $4.36 per square foot compare favorably against the Entertainment District submarket asking benchmarks of $3,542 per month and $5.53 per square foot, placing the building 21.2 percent below the submarket on a per-square-foot basis. The lower nominal monthly outlay is reinforced by compact 550-square-foot suite sizing, which keeps total rent well under the submarket average even before factoring in the per-square-foot discount. The Mercer's two active listings represent roughly 1.3 percent of the 153 total active listings across the Entertainment District, positioning it as a small but competitively priced slice of submarket inventory.

The Mercer's average closed-lease rent of $2,574 per month sits $351 below the four-comp average of $2,925, positioning it as the most competitively priced option in this immediate cluster. The Rosemont Residences at 50 John Street leases at $2,759 per month ($3.71 per square foot, 748 sq. ft.), Nobu Residences at 15 & 35 Mercer Street commands $3,038 per month ($4.55 per square foot, 679 sq. ft.), Maverick at 327 King Street West rents at $2,545 per month ($4.96 per square foot, 521 sq. ft.), and Festival Tower at 80 John Street reaches $3,359 per month ($5.07 per square foot, 679 sq. ft.). The Mercer's $2,574 average therefore undercuts Nobu by $464, Festival Tower by $785, and Rosemont by $185, while running just $29 above Maverick—a near-parity spread that reflects the subject's larger suite footprint relative to that competitor.

The Mercer leases at $4.34 per square foot for an average 605-square-foot suite, a rate that undercuts three of four nearby competitors on a per-square-foot basis while offering more interior space than Maverick's 521-square-foot average. Against Nobu Residences, the subject trades at a $0.21-per-square-foot discount (4.6% below) despite providing 74 fewer square feet, meaning renters gain a lower entry cost without sacrificing the building's amenity depth. Compared to Festival Tower, the Mercer offers a $0.73-per-square-foot discount (14.4% below) on suites that are 74 square feet smaller, and versus Maverick the subject delivers 84 additional square feet at a $0.62-per-square-foot discount (12.5% below). The one exception is The Rosemont Residences, where the Mercer commands a $0.63-per-square-foot premium (17% above) on units that are 143 square feet smaller—a trade-off driven by the subject's 2015 construction, reflective pool, and full wellness suite versus the 2003 building's more basic fit-out. Tenants choosing the Mercer accept a slightly more compact footprint than Rosemont, Nobu, or Festival Tower in exchange for a meaningfully lower per-square-foot cost and a broader amenity package than the 2003 and 2011-era buildings.

The Mercer's 14-amenity lifestyle package—including a reflective pool, hot tub and jacuzzi, sauna and steam room, games and billiards room, and a landscaped garden courtyard—gives it a distinct wellness-and-social edge over three of its four nearest competitors. Where Festival Tower at 80 John Street offers an indoor lap pool, the Mercer's reflective pool provides a more relaxed, resort-style soaking experience; where Rosemont Residences and Maverick both lack any hydrotherapy or thermal features, the Mercer's hot tub, jacuzzi, and full sauna/steam suite create a private spa environment unavailable at either property. The games and billiards room at the Mercer is absent from Maverick's amenity list, and the building's dedicated garden courtyard is not offered at Rosemont or Maverick, giving residents an outdoor social space that those two competitors simply do not provide. Nobu Residences counters with a cold plunge pool, ofuro, pet wash station, and massage room—features the Mercer does not include—but the Mercer's combination of reflective pool, thermal wellness suite, billiards lounge, and courtyard garden speaks most directly to lifestyle-oriented professionals in their late twenties to mid-thirties who prioritize daily wellness routines, social gathering spaces, and a resort-caliber amenity mix without stepping into the ultra-luxury price tier of the 2024 builds.