Harbour View Estates I - Lofts — Rental Market Data

Harbour View Estates I – Lofts realized an average lease rent of $2,600 per month, which is $481 below the four-comp benchmark of $3,081 and $218 below the CityPlace / Fort York submarket average of $2,818. Harbour View Estates II at 35 Mariner Terr (0.05 km, 23 closed leases) averaged $3,401 per month at $4.34 per square foot on 794 square feet, placing the subject $801 lower in nominal rent. Harbour View Estates I – Tower at 10 Navy Wharf Crt (0.05 km, 11 closed leases) averaged $2,982 per month at $4.31 per square foot on 715 square feet, a $382 gap above the subject. Harbour View Estates III – "C" at 3 Navy Wharf Crt (0.11 km, 7 closed leases) averaged $2,664 per month at $3.59 per square foot on 764 square feet, only $64 above the subject's realized rent. N Tower (Cityplace) at 15 Fort York Blvd (0.12 km, 9 closed leases) averaged $3,278 per month at $4.89 per square foot on 745 square feet, a $678 premium over the subject. All four competitors recorded active lease volume, so every figure above reflects closed transactions rather than asking-price speculation.

Harbour View Estates I – Lofts leases at $4.14 per square foot on an average 629-square-foot suite, trading at a discount below three of four nearby active competitors while commanding a per-square-foot premium over the most compact peer. Against Harbour View Estates II (0.05 km), the subject trades at a $0.20 per square foot (4.6%) discount and provides 165 fewer interior square feet, meaning the $801 lower monthly rent is driven primarily by the smaller footprint rather than a weaker asset valuation. Versus Harbour View Estates I – Tower (0.05 km), the subject offers a $0.17 per square foot (3.9%) discount with 86 fewer square feet, a $382 rent gap that again reflects the compact suite size. The sharpest trade-off appears with Harbour View Estates III – "C" (0.11 km): the subject commands a $0.55 per square foot (15.3%) premium yet still realizes $64 less in nominal rent because it provides 135 fewer interior square feet—the rate advantage is fully offset by the smaller floor plate. Against N Tower (Cityplace) at 0.12 km, the subject trades at a $0.75 per square foot (15.3%) discount with 116 fewer square feet, producing a $678 lower monthly rent that blends both a lower rate and a tighter footprint. In every case the subject's lower nominal rent is a function of its 629-square-foot average suite rather than a devaluation of the asset itself.

Harbour View Estates I – Lofts delivers a 24-amenity lifestyle package that matches or exceeds every nearby competitor, distinguishing itself with an Internet Cafe and a dedicated Spa that no other building in the immediate peer set offers. Harbour View Estates II (35 Mariner Terr) adds a Library & Reading Room and Juice Bar but lacks the subject's Internet Cafe and Spa; Harbour View Estates I – Tower (10 Navy Wharf Crt) substitutes a Yoga Studio and Massage Spa for the subject's Karaoke Room and Internet Cafe; Harbour View Estates III – "C" (3 Navy Wharf Crt) includes a Juice Bar but omits the Rooftop Terrace, Spa, and Internet Cafe found at the subject. N Tower (Cityplace) at 15 Fort York Blvd is the thinnest in this comparison, offering a Pet Wash Station absent from all other peers but missing the Spin Studio, Tennis & Pickleball Court, Squash & Racquetball Court, Golf Simulator, Business Centre, Dog Run, Bowling Alley, Indoor Running Track, Spa, Internet Cafe, and Karaoke Room. The subject's aquatic-and-wellness cluster (Indoor Pool, Hot Tub & Jacuzzi, Sauna & Steam Room, Spa), court-sport suite (Basketball, Tennis & Pickleball, Squash & Racquetball), and remote-work infrastructure (Meeting Room, Business Centre, Internet Cafe) collectively target a young professional or small household seeking a full-service urban lifestyle without the premium per-square-foot pricing of the 2008-era N Tower or the larger-footprint 2005 towers.