Is This the Best NYC Apartment Deal?
Once a low-cost neighborhood, the East Village now commands high rents. (Photo by Bruno J. Navarro)
With 11-foot ceilings, exposed brick walls, piles of hardcover books and views of chimneys and water towers, Arnold Warwick’s apartment is a 1,200-square-foot monument to the Greenwich Village of our fantasies. — “A Piece of the Manhattan Dream, Only $331.76 a Month,” The New York Times, January 23, 2012.
NEW YORK — Like finding a needle in a haystack, a cheap apartment in Manhattan is a rarity most people marvel over the way they would a winning lottery jackpot. But there are a few of ways to find one.
If you’re willing to live in a 90-square-foot apartment, New York living can be yours relatively on the cheap. It comes with some trade-offs, though, like not having a kitchen and sleeping in a lofted bed.
The other way is to have lucked into a rent-controlled apartment, as did the subject of a New York Times article.
A confluence of factors, not the least of which were a charitable landlord and good timing, means that at least one apartment in a hot neighborhood cost its tenant just $331.76 per month for a 4-bedroom apartment.
Having approached a record high in January, Manhattan rents continued their upward trend in February, making the average price of an apartment $3,376, or just 1 percent off its historic peak.
The bright side? It would be more expensive to live in Hong Kong, Tokyo or Moscow.
Everyone wants a great apartment deal, but it is getting increasingly difficult to find without an experienced real estate agent.
Related Links
- The New York Times: ”A Piece of the Manhattan Dream, Only $331.76 a Month“
- NYC Apartment Agent: Life In a 90-Square-Foot Apartment
- The Economist: “Expatriate Rents“
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