ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

New York's Smallest Apartment Draws Attention Online With $1,200 Rent, No Bathroom, No Kitchen

With renting prices on the rise, people are questioning the current market trends.
PUBLISHED FEB 27, 2024
Cover Image Source: Photo by Roberto Vivancos | Pexels
Cover Image Source: Photo by Roberto Vivancos | Pexels

The smallest apartment in New York, which lacks a bathroom and a kitchen, is gaining traction online. Omer Labock, a real estate agent who works for Douglas Elliman, posted the video of the apartment on Instagram, showing viewers around the modest space that rents for $1,200 per month. Located in Midtown Manhattan, Labock refers to it as "the tiniest [apartment] in Manhattan."


 
 
 
 
 
View this post on Instagram
 
 
 
 
 
 
 
 
 
 
 

A post shared by Omer Labock (@realtoromer)


 

In the footage, the real estate agent opens the door to reveal a compact room sparsely furnished, save for a basic Ikea-style wardrobe. With just a solitary window offering a view of the fire escape and neighboring buildings, the space looked cramped. Furthermore, the apartment lacked essential amenities, such as a bathroom or kitchen.

"I'm not very big, but I can almost touch both sides in here. This has got to be the absolute smallest apartment in Manhattan, and it costs $1,200 a month," Labock explains. "Now, you're probably wondering where the bathroom is. Well, you have to step out of the apartment and go into this shared area."

He then leads the way down a hallway, passing another apartment, until he shows the shared bathroom. "It's basic, with a sink, toilet, and shower," he added.



 

While many users expressed outrage over the tiny apartment, it serves as proof of the tough rental market affecting millions of Americans. In the caption, Labock wrote, "Would you live here?" People on the internet quickly shared their thoughts. One person asked, "How is this even allowed?" Another said, "I'd rather live in my car and use a gym bathroom."

Someone else expressed, "If there's no bathroom, it's not really an apartment. It's just a room in a boarding house. This shouldn't be called an apartment. Landlords shouldn't be able to charge apartment prices for rooms like this."

"This would be called a storage unit where I'm from, and it would cost $80 a month," remarked another user. "For $1,290 a month, I have a three-bedroom, two-and-a-half-bathroom house—not just an apartment, but a whole house. I even have a garage. Come to beautiful Las Vegas, Nevada! Get out of there. This is outrageous," commented a different user.

Image Source: Photo by Melike  Benli | Pexels
Image Source: Photo by Melike Benli | Pexels

In New York City, the average price for a studio apartment is approximately $3,041, according to Zillow. For those wanting to live solo in the city, the additional annual expense could reach up to $20,100. While some may perceive the 115-square-foot unit as too compact and too costly, there are residents in the city who have successfully navigated similar rental arrangements.

In September, for instance, a couple from the East Village disclosed that they were residing in a micro-studio apartment measuring just 100 square feet. Despite its diminutive size, they managed to divide the $1,300 rent between them.

Photo by Ivan Samkov: https://www.pexels.com/photo/red-and-white-signage-near-the-wooden-house-8962344/
Image Source: Photo by Ivan Samkov | Pexels

Affordable rental options are becoming increasingly scarce across the United States, with the landscape of the rental market undergoing significant changes over the past decade. One of the primary factors driving this shift is inflation, which has steadily eroded the purchasing power of the dollar, making it more challenging for individuals to find rental properties within their budget constraints.

MORE ON MARKET REALIST
There are reasons for potential buyers to be positive but one has to be wary.
1 day ago
The story of the Lalonde twins will surely go down in the show's history after recent events.
1 day ago
The audience in the studio had a great time watching this round play out.
1 day ago
Several of these retailers have seen an increase in revenue as a result.
1 day ago
Former Biden administration Commerce Department Secretary Gina Raimondo has joined Costco.
1 day ago
The retailer had issued a voluntary recall for the products a few weeks back.
1 day ago
"I hope the bonus round wins tomorrow so that we have 3-5 this week," a fan reacted.
1 day ago
The company has said that this was a way they were looking at to improve delivery service.
2 days ago
There is a chance that the administration can utilize certain legal pathways to keep the tariffs.
2 days ago
The hilarious round saw host Steve Harvey shocked into silence on a few occasions.
2 days ago
Ramsey offered insights into how millionaire couples build wealth.
2 days ago
Many have stood with the President in support of the move but there are some naysayers.
2 days ago
Scammers are getting smarter by the day and one always needs to be wary about them.
2 days ago
She did her best but her choice of letters was not good enough.
3 days ago
Shoppers are urged to be wary of the product and throw them away if purchased.
3 days ago
Despite their point of difference, both masters of trivia have a lot of respect for one another.
3 days ago
The product in question contained peanuts, a known allergen, and was mislabeled.
3 days ago
In an interview, Pichai stated that organizations will need to work through the disruption.
3 days ago
The money from the donation will go to millions of children and will help them be financially secure.
3 days ago
Kiyosaki urged people to invest in precious metals and cryptocurrency to be prepared.
4 days ago