Is the rental tide receding at the Coast apartments?

In mid-June we relayed a news release announcing that the new Coast apartment tower in Lakeshore East was 50% leased after four months on the market – “a record setting pace,” according to an executive of the building’s leasing and management firm. If you read between the lines of our earlier post you’ll sense our skepticism.

The pace of leasing at Coast has apparently slowed. As of yesterday evening, the building’s online availability check listed 55 of its 499 units available for rent, all of them studios, convertibles and one-bedrooms. Fifty-three of the units were available for immediate occupancy and two for occupancy on January 7.

Coast’s website touts “new end of the year holiday rent specials” on all of its unit types, including the unavailable two-bedrooms.

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