Smallest NYC ' Apartment ' Proves Rent Is Out of Control
Dive into the essential details of Smallest NYC ' Apartment ' Proves Rent Is Out of Control that are shaping the discussion around facebook video mp4. Rent in New York City is officially out of control. A realtor posted a video of a 9x6 studio ‘apartment’ in Manhattan that’s listed for $1,200 per month. The realtor says there’s ‘no space for anything besides a bed’ and residents must use a shared bathroom down the hall. Plus, there’s no kitchen or running water in the room. In 2023, rent in New York City hit an all-time high, with the median cost of $4,400 in Manhattan, which went up 6% from the year prior. The average rent of all apartments in the city was $5,588. These high prices have been driving away renters in recent years. ‘Because of the record-high rents, we’re starting to see a consistent decrease in leasing activity,’ said Jonathan Miller, president and CEO of real estate appraisal company Miller Samuel. ‘The rents are pressing higher to new records...