Market Data as of August 31, 2026

The Wessex — Rental Market Data

88 Wellesley Street E, Toronto, Ontario M4Y 1H4

Quick Rent Estimate

Last Lease

2-Bedroom

Lease Amount

$2,695/mo

Date Leased: August 21, 2026

Rent psf$2.84/sf

Turnover Velocity15 Days

Active Inventory Status0 Available

Building Summary & Rental Market Overview

Rental market analytics and building profile as of August 31, 2026.

Building TypePurpose-Built Rental

Year CompletedRecent

Total SuitesVarious

DeveloperNot Disclosed

The Wessex at 88 Wellesley Street E in Toronto's Cabbagetown neighbourhood is a new-build residential tower with an estimated completion year of 2026, currently in its initial occupancy phase. The developer is unrecorded in available filings, and the total suite count has not been published. As of August 31, 2026, the building carries zero active listings, meaning every unit is occupied or under lease. Leasing velocity remains brisk for a tower this young: two leases closed in the trailing 30 days and four in the trailing 90 days, with average days on market of 19 and 30 respectively.

With no units currently on the market, active asking rents and per-square-foot rates cannot be calculated. The four realized leases all closed at an average of $2,645 per month across 900-square-foot suites, translating to $2.94 per square foot. That realized rate sits 30.5 percent below the Cabbagetown submarket lease benchmark of $4.23 per square foot, positioning The Wessex as a notably competitive rate per square foot relative to surrounding inventory. The submarket asking benchmark stands at $3,178 per month and $4.33 per square foot, so even the building's realized rents trail the broader Cabbagetown asking environment by roughly $533 per month in nominal terms.

Marketing friction is difficult to assess with zero active listings, but the single delisted unit sat on the market for 91 days—nearly four times the submarket average of 22 days—and was priced $50 per month above the building's realized lease average, suggesting that overpriced units in this tower face prolonged exposure. All four tracked leases were two-bedroom layouts, so the building's inventory is entirely concentrated in that tier. Renter prospects should monitor the Cabbagetown submarket, which currently holds 106 active listings, for comparable two-bedroom options while The Wessex remains fully occupied.

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Last Realized Lease

Transaction metrics for the most recently leased suite

2-Bedroom

Lease Amount$2,695/mo

Date LeasedAugust 21, 2026

Rent psf$2.84/sf

Turnover Velocity15 Days

Active Inventory Status0 Available

Recent Leased Transactions & Contract Prices

Recent lease transactions, absorption velocity, and the difference between landlord asking prices and actual prices agreed to by tenants at The Wessex (Data period: For the month of August 2026).

Units Leased2

Avg Leased Price$2,645

Avg Leased Size900 sf

Avg Days to Lease19d

Leased $/SF$2.94

Leased Transaction Insights & Questions

How many suites were leased at The Wessex last month, and how fast did they rent?

The Wessex at 88 Wellesley Street E closed two leases in the trailing 30 days with an average of 19 days on market, compared to a 30-day submarket benchmark of 22 days. Over the 90-day window, four leases closed at an average DOM of 30 days, and the lifetime record also stands at four closings at 30 days average. Leasing cadence accelerated in August, with the two most recent deals clearing in roughly half the time of the prior cohort, though the small sample size means this directional shift warrants caution before drawing firm conclusions.

What is the negotiation spread between asking rents and closed lease prices at The Wessex?

The Wessex closed all four tracked leases at exactly 100% of asking price, with zero dollar variance and no annualized tenant savings or landlord revenue gain. Every transaction settled on the listed figure, indicating a balanced negotiation environment where neither side extracted concessions. This at-asking pattern across a small sample of four leases suggests landlords priced accurately to market-clearing levels rather than anchoring high and discounting.

What are typical executed lease prices across different layouts at The Wessex?

The Wessex recorded 100% of its four closed leases in the 2-Bedroom tier, averaging $2,645 per month at 900 square feet and a 30-day average DOM. This represents a limited sample size of four transactions and should be treated as a directional indicator only, not a broad statistical benchmark. The median lease rent sits at $2,645 per month, with the P25-P75 range spanning $2,595 to $2,695 per month. The realized rate per square foot is $2.94 per square foot across all four closings.

What measurable rent premium did suites with parking achieve in closed leases at The Wessex?

The Wessex does not have a reliably isolable parking premium, as paired lease data is insufficient to separate parking charges from suite rent. No verified parking dollar figure can be quoted from the tracked transactions. Active-listing parking data is likewise flagged as unreliable due to anomalous outliers or an insufficient paired sample, so no parking positioning claim is warranted at this stage.

How does the lease-to-listing ratio at The Wessex reflect current tenant demand?

The Wessex held a flat $2,645 per month average rent across both tracked months in late summer 2026, with no nominal drift. In July 2026, two leases closed at $2,645 per month and $2.94 per square foot with a 41-day average DOM. In August 2026, two additional leases closed at the identical $2,645 per month and $2.94 per square foot, but DOM compressed to 19 days. The flat pricing paired with halved marketing time signals improving tenant demand rather than any devaluation of the asset.

De-Listed & Terminated Rental Market Dynamics

Analyze withdrawn listings, tenant price resistance, and subsequent re-listing discount trends at The Wessex (Data period: For the month of August 2026).

Delisted Units1

Avg Asking Price$2,695

Avg Suite Size950 sf

Avg Days on Market91d

Delisted $/SF$2.84

De-Listed Market Analysis & Questions

How many listings de-listed at The Wessex, and what was their re-listing price compared to previous asking?

The Wessex logged one delisted unit against four lifetime leases, producing a 25% delisted-to-lifetime ratio and a 50% ratio against trailing 30-day volume. The single delisting was a terminated listing; no expired or suspended listings appear in the record. At this early-occupancy stage, one unrented unit exiting the market is a modest friction signal rather than a systemic pricing problem.

How do asking prices on de-listed suites compare to executed leases and active listings at The Wessex?

The Wessex's one delisted unit asked $2,695 per month, which is $50 per month above the realized lease average of $2,645 per month. The delisted listing carried a rate of $2.84 per square foot versus the realized $2.94 per square foot, reflecting a slightly larger suite footprint in the unrented unit. This $50-per-month overpricing relative to market-clearing levels indicates the landlord anchored above what tenants were willing to pay at that time.

What market friction causes rental listings to stall or de-list at The Wessex?

The Wessex's delisted unit sat on market for an average of 91 days, compared to a 30-day realized lease DOM, producing 61 excess marketing days. Those 61 days translate to roughly two months of lost rent at the $2,695 asking rate, or approximately $5,471 in foregone revenue, plus ongoing condo maintenance fees during the vacancy carry period. The excess friction is concentrated in a single listing and does not yet reflect a pattern across the building's leasing pipeline.

Historical Active Listings & Market Dynamics

Analyze availability, historical asking prices, price per foot ($/SF), and days on market over time. Use filters below to benchmark specific layouts.

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Left AxisAsking Price

Avg Asking Price

Right AxisUnits Available

Avg Units Available

Historical statistics trends for active listings
Date	Units Available	Avg Price ($)	Avg SqFt (SF)	Avg PSF ($/SF)	Avg DOM (Days)
2026-05-11	2	2645	900	2.94	N/A
2026-05-12	2	2645	900	2.94	1
2026-05-13	2	2645	900	2.94	2
2026-05-14	2	2645	900	2.94	3
2026-05-15	2	2645	900	2.94	4
2026-05-16	2	2645	900	2.94	5
2026-05-17	2	2645	900	2.94	6
2026-05-18	2	2645	900	2.94	7
2026-05-19	2	2645	900	2.94	8
2026-05-20	2	2645	900	2.94	9
2026-05-21	2	2645	900	2.94	10
2026-05-22	2	2645	900	2.94	11
2026-05-23	2	2645	900	2.94	12
2026-05-24	2	2645	900	2.94	13
2026-05-25	2	2645	900	2.94	14
2026-05-26	2	2645	900	2.94	15
2026-05-27	2	2645	900	2.94	16
2026-05-28	2	2645	900	2.94	17
2026-05-29	2	2645	900	2.94	18
2026-05-30	2	2645	900	2.94	19
2026-05-31	2	2645	900	2.94	20
2026-06-01	2	2645	900	2.94	21
2026-06-02	2	2645	900	2.94	22
2026-06-03	2	2645	900	2.94	23
2026-06-04	2	2645	900	2.94	24
2026-06-05	2	2645	900	2.94	25
2026-06-06	2	2645	900	2.94	26
2026-06-07	2	2645	900	2.94	27
2026-06-08	4	2645	900	2.94	14
2026-06-09	4	2645	900	2.94	15
2026-06-10	4	2645	900	2.94	16
2026-06-11	4	2645	900	2.94	17
2026-06-12	3	2662	917	2.91	13
2026-06-13	3	2662	917	2.91	14
2026-06-14	3	2662	917	2.91	15
2026-06-15	3	2662	917	2.91	16
2026-06-16	3	2662	917	2.91	17
2026-06-17	3	2662	917	2.91	18
2026-06-18	3	2662	917	2.91	19
2026-06-19	3	2662	917	2.91	20
2026-06-20	3	2662	917	2.91	21
2026-06-21	3	2662	917	2.91	22
2026-06-22	3	2662	917	2.91	23
2026-06-23	3	2662	917	2.91	24
2026-06-24	3	2662	917	2.91	25
2026-06-25	3	2662	917	2.91	26
2026-06-26	3	2662	917	2.91	27
2026-06-27	3	2662	917	2.91	28
2026-06-28	3	2662	917	2.91	29
2026-06-29	3	2662	917	2.91	30
2026-06-30	3	2662	917	2.91	31
2026-07-01	3	2662	917	2.91	32
2026-07-02	3	2662	917	2.91	33
2026-07-03	3	2662	917	2.91	34
2026-07-04	3	2662	917	2.91	35
2026-07-05	3	2662	917	2.91	36
2026-07-06	3	2662	917	2.91	37
2026-07-07	3	2662	917	2.91	38
2026-07-08	3	2662	917	2.91	39
2026-07-09	2	2645	900	2.94	45
2026-07-10	2	2645	900	2.94	46
2026-07-11	2	2645	900	2.94	47
2026-07-12	2	2645	900	2.94	48
2026-07-13	2	2645	900	2.94	49
2026-07-14	2	2645	900	2.94	50
2026-07-15	2	2645	900	2.94	51
2026-07-16	2	2645	900	2.94	52
2026-07-17	2	2645	900	2.94	53
2026-07-18	2	2645	900	2.94	54
2026-07-19	2	2645	900	2.94	55
2026-07-20	2	2645	900	2.94	56
2026-07-21	2	2645	900	2.94	57
2026-07-22	2	2645	900	2.94	58
2026-07-23	2	2645	900	2.94	59
2026-07-24	2	2645	900	2.94	60
2026-07-25	2	2645	900	2.94	61
2026-07-26	2	2645	900	2.94	62
2026-07-27	2	2645	900	2.94	63
2026-07-28	2	2645	900	2.94	64
2026-07-29	1	2695	950	2.84	79
2026-07-30	2	2645	900	2.94	40
2026-07-31	2	2645	900	2.94	41
2026-08-01	2	2645	900	2.94	42
2026-08-02	2	2645	900	2.94	43
2026-08-03	2	2645	900	2.94	44
2026-08-04	2	2645	900	2.94	45
2026-08-05	2	2645	900	2.94	46
2026-08-06	3	2662	917	2.91	31
2026-08-07	3	2662	917	2.91	32
2026-08-08	3	2662	917	2.91	33
2026-08-09	3	2662	917	2.91	34
2026-08-10	2	2645	900	2.94	8
2026-08-11	2	2645	900	2.94	9
2026-08-12	2	2645	900	2.94	10
2026-08-13	2	2645	900	2.94	11
2026-08-14	2	2645	900	2.94	12
2026-08-15	2	2645	900	2.94	13
2026-08-16	2	2645	900	2.94	14
2026-08-17	2	2645	900	2.94	15
2026-08-18	2	2645	900	2.94	16
2026-08-19	2	2645	900	2.94	17
2026-08-20	2	2645	900	2.94	18

12-Month Market Dynamics & Trend Trajectory

The Wessex realized an average rent of $2,645 per month at $2.94 per square foot, sitting just $9 below the Cabbagetown submarket lease average of $2,636 per month but commanding a 30.5% discount on rate per square foot relative to the submarket's $4.23 per square foot benchmark. This gap reflects The Wessex's 900-square-foot suite footprints, which are materially larger than the submarket average, allowing tenants to secure more space at a lower per-square-foot cost. All four tracked leases closed at exactly asking price with zero dollar negotiation spread, indicating balanced pricing discipline where landlords neither over-anchored nor conceded. No leases closed below asking and none closed above, producing a clean 100% at-asking distribution. This pattern across a small sample of four transactions suggests The Wessex's initial pricing was calibrated to market-clearing levels, avoiding the pushback on price that typically triggers discounting in new-occupancy buildings.

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Historical building statistics - leased transactions

This section tracks completed leasing transactions over time starting from May 1, 2026. Use the filters below to refine the trends by unit type, parking, den, and price performance.

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Latest leased insights and trends

Left AxisLeased Price

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Right AxisUnits Leased

Avg Units Leased

Historical statistics trends for leased transactions
Date	Units Leased	Avg Leased Price ($)	Avg SqFt (SF)	Avg PSF ($/SF)	Avg DOM (Days)
2026-07-05	1	2695	950	2.84	31
2026-07-12	0	N/A	N/A	N/A	N/A
2026-07-19	0	N/A	N/A	N/A	N/A
2026-07-26	1	2595	850	3.05	51
2026-08-02	0	N/A	N/A	N/A	N/A
2026-08-09	0	N/A	N/A	N/A	N/A
2026-08-16	2	2645	900	2.94	19

Nearby Building Rental Comparables & Price Spreads

Direct rental rate comparisons against residential properties in the immediate vicinity.

The Wessex at 88 Wellesley Street E sits in a tight Cabbagetown pocket where three nearby buildings have generated closed lease activity over the trailing 180 days. Eighty One Wellesley at 81 Wellesley St E, completed in 2023 and located just 0.08 km away, recorded 21 closed leases and anchors the active competitive set. The Marquis at 135 Maitland St (0.19 km, built in 1997) and Westbury Manor Apartments at 414 Jarvis Street (0.20 km, built in 1908) each logged 2 closed leases, providing a small but real pricing reference. A fourth building, 86 Gloucester at 86 Gloucester St (0.20 km, built in 1978), recorded zero lease transactions over the same window and therefore serves only as an architectural and amenity reference rather than an active pricing benchmark. Against the four-building comp set, the overall average realized rent is $2,248 per month at $3.56 per square foot across an average suite of 690 square feet. The Wessex, with an average leased footprint of 900 square feet and a realized rate of $2.94 per square foot, occupies a distinctly larger interior envelope than every nearby peer while carrying a lower per-square-foot rate than the two most active competitors. At 2026 estimated completion, the building enters the market as the newest structure in this immediate cluster, pairing a generous suite scale with a lean two-amenity package that positions it squarely between the amenity-heavy 2023 product and the aging 1908 and 1978 stock within a 200-metre radius.

Eighty One Wellesley78 m

81 Wellesley St E, Toronto

Avg Asking$2,507/mo

Avg $/SF$3.47

Rent Spread:

N/A

The Marquis190 m

135 Maitland St, Toronto

Avg Asking$2,415/mo

Avg $/SF$4.56

Rent Spread:

N/A

86 Gloucester196 m

86 Gloucester St, Toronto

Avg Asking$4,121/mo

Avg $/SF$5.19

Rent Spread:

N/A

Westbury Manor Apartments203 m

414 Jarvis Street, Toronto

Avg Asking$1,989/mo

Avg $/SF$3.35

Rent Spread:

N/A

The Mansions at Jarvis & Bloor208 m

539 Jarvis St, Toronto

Avg Asking$2,300/mo

Avg $/SF$3.04

Rent Spread:

N/A

50 at Wellesley Station236 m

50 Wellesley St E, Toronto

Avg Asking$2,793/mo

Avg $/SF$4.32

Rent Spread:

N/A

Comparable Analysis & Questions

How do rental rates at The Wessex compare to neighbouring buildings within Cabbagetown?

The Wessex realized an average lease rent of $2,645 per month over its four closed transactions, which is $397 above the $2,248 comp-set average and $9 above the Cabbagetown submarket lease benchmark of $2,636. Eighty One Wellesley (81 Wellesley St E, 0.08 km, 21 closed leases) averaged $2,403 per month at $3.38 per square foot across 746 square feet, placing the subject $242 higher on a nominal monthly basis. The Marquis (135 Maitland St, 0.19 km, 2 closed leases) averaged $2,415 per month at $4.56 per square foot over 575 square feet, with the subject trading $230 higher. Westbury Manor Apartments (414 Jarvis Street, 0.20 km, 2 closed leases) averaged $1,925 per month at $2.73 per square foot across 750 square feet, where the subject commands a $720 monthly premium. 86 Gloucester (86 Gloucester St, 0.20 km) recorded zero closed leases in the trailing 180 days and therefore offers no realized rent benchmark for comparison.

Does The Wessex offer a competitive price-per-square-foot ($/SF) against local comparables?

The Wessex leases at $2.94 per square foot across an average 900-square-foot suite, a combination that undercuts the comp-set average of $3.56 per square foot while delivering roughly 210 additional square feet over the 690-square-foot comp mean. Against Eighty One Wellesley, the subject trades at a $0.44 per square foot (13.0%) discount while providing 154 more interior square feet, meaning the higher nominal rent of $242 is driven entirely by the larger footprint rather than a per-unit valuation premium. The Marquis presents a steeper contrast: the subject offers a $1.62 per square foot (35.5%) discount and 325 more interior square feet, so the $230 rent differential reflects the extra space rather than a rate advantage. Westbury Manor is the one comp where the subject commands a $0.21 per square foot (7.7%) premium, yet still delivers 150 more interior square feet, making the $720 monthly gap a function of both a modest rate edge and a materially larger unit. In every active comparison, the subject's higher nominal rent is explained by its superior interior scale rather than a per-square-foot valuation markup.

How do building age, amenities, and developer reputation impact rent spreads?

The Wessex provides a deliberately lean lifestyle package consisting of concierge and security coverage plus a shared laundry room, a stark contrast to the amenity-rich profiles of its immediate neighbours. Eighty One Wellesley offers nine distinct facilities including a gym and fitness centre, rooftop terrace, party and lounge room, meeting room, dining room and kitchen, garden and courtyard, games and billiards room, and a BBQ area—none of which are replicated at the subject. The Marquis layers on a gym, rooftop terrace, meeting room, party lounge, BBQ area, garden and courtyard alongside its concierge desk. Westbury Manor matches the subject's two-amenity baseline exactly with concierge and shared laundry, making it the closest lifestyle peer in the set. 86 Gloucester, despite zero closed leases, lists an extensive 14-item amenity suite including an outdoor pool, sauna and steam room, squash and racquetball court, jogging track, library, and hobby room that the subject does not offer. The Wessex's no-frills, low-maintenance profile—concierge security and in-unit-adjacent laundry without gym, rooftop, or social spaces—targets cost-conscious professionals and small households who prioritize a generous 900-square-foot interior footprint and a lower per-square-foot rate over recreational and wellness facilities, effectively trading lifestyle extras for usable living area in the heart of Cabbagetown.

Building Amenities, Transit & Neighbourhood Features

Building amenities and neighbouring residential communities around The Wessex.

Residential Buildings in the Vicinity

Data Methodology & Analytical Standards

How FastScreen aggregates public listing records, tracks active inventory, and calculates rental market metrics for The Wessex.

Snapshot Dates & Benchmark Cadence

Standardized Snapshot: Market metrics reflect a standardized monthly snapshot locked as of August 31, 2026.
Benchmark Comparison Cadence: Month-over-month comparisons evaluate changes across standardized month-end reporting windows (August 2026 vs July 2026), ensuring consistent baseline periods and eliminating intra-month reporting volatility.
Point-in-Time Daily History: Daily charts capture point-in-time active listings available on any given calendar day.

Public Data Aggregation & Thresholds

Public Data Aggregation: FastScreen aggregates residential rental listing and completed lease transaction records from publicly available sources.
Threshold Filtering: All listings are subject to a minimum monthly rental threshold of $1,000 to filter out standalone storage lockers, private parking spaces, and misclassified commercial entries from condominium statistics.

Calculation Formulations

Average Asking Rent: Weighted average of active asking prices across available suites in the reporting period.
Price Per Square Foot ($/SF): Calculated by dividing rent by square footage only for listings that provide unit dimensions (suites without stated square footage are excluded from $/SF calculations).
Days on Market (DOM): Measures elapsed calendar days between the date a suite is first listed and either the benchmark snapshot date (for active listings) or the finalized date leased.
Parking & Den Differentials: Average asking rent differences between suites with vs. without parking, and suites with vs. without a den.

Data Limitations & Scope

Exclusively Public Records: Statistics are derived exclusively from publicly available rental listings and completed lease records. Private direct-to-landlord arrangements, unadvertised tenant renewals, and off-market rental agreements are not captured.
Agreed Contract Amounts: Reported lease amounts reflect agreed contract rents and do not account for private move-in allowances or individual unit renovations that may influence pricing spreads.

Disclaimer: The information and statistics presented on this page (including asking rents, lease prices, de-listed listings, average square footage, days on market, and implied suite premiums) are aggregated from public listing sources for general informational, educational, and reference purposes only. FastScreen does not guarantee the accuracy, completeness, or timeliness of any data shown. This information does not constitute financial, investment, legal, or professional real estate advice. Users should conduct their own independent research and consult with licensed professionals before making any rental, leasing, property management, or real estate investment decisions.