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

This tiny NYC apartment's monthly rent is making our jaws drop. Oh yes, it has no bedroom either

"So they’re pricing a ‘no bedroom’ like a 2 bedroom… got it!"
UPDATED OCT 8, 2024
Cover Image Source: Photo by LeoPatrizi | Getty Images
Cover Image Source: Photo by LeoPatrizi | Getty Images

We live in a world where you might find a great house selling for just $1, while tiny apartments in the Big Apple are going viral for their exorbitant prices. It's no surprise that renting a house in New York can really break your bank. This tiny property, which was shown by estate agent Omer Laboc, is the latest to shock many on the internet, especially since the home is missing a bedroom. 

The front door opens into a compact kitchen with wooden floors. The kitchen leads to a small space with a spot for a bed. This spot is just above the bathroom, and the person living in the home would have to climb up a short ladder to reach it, which made many on the internet nervous. 

Image Source: TikTok | @omerlabock
Image Source: TikTok | @omerlabock

In the video, Omer says, "I successfully made it up here but my hands are shaking, that was not fun. This is what we call a sleeve loft. You could easily put a mattress down here and use it as a bedroom, chill area." He then reveals that the flat is actually a duplex, featuring the lower level, saying, "You could use it as kind of second living room if that's what you wanted or use it as an office. It's really nice and there's even a closet." However many in the comment section saw this space as the bedroom.

TikTok | @A_Guy_from_NewBrunswick
TikTok | @A_Guy_from_NewBrunswick

He then reveals the price of the fashionable soho apartment on Lower Manhattan, New York City. "The total rent for this really interesting apartment is $4,695 a month," he says in the video. Viewers simply couldn't believe that tiny space cost so much. Many took to the comment section to express what they felt. "That’s a storage loft in my books. Downstairs is the bedroom," reads the top comment by @HellHathNoFury. While @user9011740819982 says, "I think I would use the downstairs as my bedroom and use that damn loft thing as a freaking attic," while @cringe.a.rama, writes, "So they’re pricing a ‘no bedroom’ like a 2 bedroom… got it!"

TikTok | @catsney
TikTok | @catsney

According to Bloomberg, New Yorkers earned on average around $89,000 in 2023, meaning they can only afford around $2,216 per month on housing. However, the median rent is around $3,475, which indicated that the salaries are not keeping up with higher cost of living.

Moreover, it was seen that the crisis hits essential workers the most. Those in food preparation, transport services and healthcare support earned less than $70,000 in 2023, meaning they could only comfortably pay for 1% of New York apartments, the report revealed. "Spending more on rent leaves a larger hole in renters’ budgets and makes it difficult to save for long-term goals, such as a down payment on a home," according a Zillow report, via Bloomberg.

For more such videos, follow, (@omerlabock) on TikTok.

This article originally appeared 1 month ago.

MORE ON MARKET REALIST
She was already emotional even before her husband even played the Bonus Round.
9 hours ago
Fans on social media were livid and they did not shy away from expressing their disappointment.
11 hours ago
Matt quoted $18,000 for 'Anne of Green Gables' but merely paid $25 while buying it.
12 hours ago
Carl L. Shy, an Olympian and basketball player, later joined the LAPD and retired as a detective.
13 hours ago
The young contestant was not given the win for a minor spelling error, which proved costly.
14 hours ago
The guest said that she doesn't even let her children play with the toys to preserve them.
1 day ago
The item might have been worth more, but no one had any idea of how much it could sell for.
2 days ago
Mr. Wonderful did not hold anything back as he even called the entrepreneurs bad at marketing.
2 days ago
The player couldn't believe that she had aced the "Grand Game" of the show.
2 days ago
Cuban beat offers from Lori Greiner and Kevin O'Leary to add the company to his portfolio.
2 days ago
Rick Harrison wanted to pay less than a thousand bucks at first, but the guest was a tough negotiator.
3 days ago
The contestant had a good start to the game but things did not end all that well.
3 days ago
The guest inherited the jewels from her mother and then found out that they were Cartier products.
3 days ago
The host Pat Sajak was seen standing with a broom while the contestant was celebrating.
4 days ago
The contestant wasn't able to match the excitement with his performance.
4 days ago
The guest said that there was so much more that she hadn't even brought to the show.
4 days ago
This wasn't the first time that an appraisal by an expert worked in favor of the seller.
4 days ago
The contestant seemed to be going through the emotions even before the results were revealed.
4 days ago
As per the guest, even her father had no idea where the piece of jewelry came from.
5 days ago
The contestant was supposed to name a deceased artist who they'd like to see perform as a hologram.
5 days ago