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
The billionaire also predicted that other companies would follow suit in the future.
3 hours ago
His comments have led to several Americans calling him out for not reducing beef prices.
3 hours ago
Billionaires grew their wealth by an incredible 22% in the last year as regular Americans struggled.
3 hours ago
Americans in a Reuters/Ipsos poll identified the cost of living as the primary factor influencing their votes in the upcoming midterms.
6 hours ago
This will be damning for the DHS, which is already under immense pressure from the public.
23 hours ago
Experts believe that it has to do with getting a sense of momentary control.
1 day ago
It seemed like the contestant was heading towards defeat, but his luck soon turned around.
1 day ago
The company says it has taken action to protect its rights as an importer to seek duty refunds.
1 day ago
The payout was driven by the company’s financial strength and strong underwriting performance.
1 day ago
Trump made this claim during his lengthy State Of The Union address earlier.
1 day ago
Research predicted that in the consumer sector, "AI personalization strategists" and "AI supply-chain analysts" jobs are expected to emerge.
1 day ago
The product might contain germs as the pasteurization process was not done properly due to a equipment troubleshooting error
2 days ago
The contestant came as close as possible to winning big, but had her heart broken in the end.
2 days ago
Trump failed to address the affordability issue that voters care most about.
2 days ago
He said that society is not quite ready for the pace at which AI is currently displacing workers.
2 days ago
The recall affected products that were sold to customers in four states and in Canada.
2 days ago
Those opposed to the changes believe Trump is politicizing the health of children.
2 days ago
Bessent said that the proposition would be rolled out “in the coming weeks and months,” as a tool for working-class Americans left behind.
2 days ago
“It’s a bad idea. We are very alarmed,” a financial source stated about the proposed move.
2 days ago
A post on X could move trillions of dollars due to the power that retail investors hold
3 days ago