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 34-Year-Old New Yorker Loves Her Miami One-Bedroom, And Happily Paying $4150 a Month For It

"When I saw this apartment, I immediately jumped on it," Koggan said, adding that she didn't even see the apartment in person before making an offer.
PUBLISHED MAY 6, 2024
Cover Image Source: 34-year-old VP happy with her Miami apartment (representative image) | Pexels | Miami, Florida | Mikhail Nilov
Cover Image Source: 34-year-old VP happy with her Miami apartment (representative image) | Pexels | Miami, Florida | Mikhail Nilov

The discussion surrounding the soaring cost of living especially about the high rents, is not going to end anytime soon. Amid this, Rachel Koggan, a 34-year-old Media Relations executive, left New York to move to Miami, Florida, hoping to save some money by paying a little less for rent.

"I just love Florida. I love the weather," she told CNBC Make It. Koggan approached a realtor who helped her find an apartment. This one-bedroom apartment with a one-and-a-half-bathroom was above the Brickell City Centre. "When I saw this apartment, I immediately jumped on it," Koggan said, adding that she didn't even see the apartment in person before making an offer.  "I’d done a lot of research on the building and I felt confident that it would be something that I liked but I just had to go off the photos, basically," she said. 



 

The apartment was originally listed for $3,100 a month, but she decided to raise her offer to $3350 as several applications had been submitted. The move worked, and Koggan was able to bag the apartment. The rent increased to $4,200 for her second year, but Koggan was able to negotiate her monthly rent for the third year down to $4,150.

The rent that she pays now is way more expensive but the place is way bigger than the studio apartment she used to live in NYC. "I lived in a studio, and it was only about 400 square feet, and here I have about 1,200 square feet, so I understand that it is more expensive for a reason," she says.

Koggan had paid two security deposits of $3,350 and one month’s rent, totaling $10,050. She also paid a $500 pet fee when she first moved in. The one-bedroom apartment that she currently lives in has a washer-dryer unit as well as a balcony. The bathroom has a dual-basin sink installed and the building offers amenities like a spa, and a gym as well as multiple pools and shared outdoor space. The building is connected to the mall, which came as a pleasant surprise to her. 



 

"It was the best discovery in the entire world. It is now my absolute favorite feature of my apartment, and whenever anyone comes to visit, it’s sort of my party trick to show them what my backyard is...It honestly gives me so much entertainment and joy every single day," she says.

Moreover, the residents of the Brickell City Centre building get invitations to events like happy hours and workout classes as well as to new restaurant launches. While these perks are great, Koggan talked about how she had to cut down her expenses. "I understand my limits and I have a pretty good relationship with my shopping right now, but I still do love it and it still does bring me a lot of joy," she said. 

So far, Koggan is enjoying her stay and says that she will be renewing her lease. "I’m going to make sure I check the comps in my building to see if my current price is still fair," she says.



 

While New York is still one of the greatest cities in the world, many are deciding to move out of the city. As per a recent New York State Comptroller report, New York's population has declined by almost half a million between 2020 and 2022. Many New Yorkers are known to be looking for housing across the Hudson River. People leaving the city behind had a median wage of $49,000 in 2022, down 18% from 2021, as per a report by the Bureau of Labor Statistics. The report also found that among those leaving, over a third belonged to the millennials, and just under a third were Gen Z, via Business Insider.

MORE ON MARKET REALIST
Wildwonder boasted of $1.4 million in revenue and had a successful run rate of $2.5 million during the time of the valuation.
7 hours ago
Few contestants have ever played this game with this much perfection in the past.
8 hours ago
The expert said that the watch's value was $2,600 than what it could have been.
9 hours ago
Kevin O'Leary, Daymond John, and Robert Herjavec tried to stop her from making the offer.
10 hours ago
She was able to impress viewers with her trivia knowledge but wasn't able to win the game.
11 hours ago
All hope seemed lost for the entrepreneurs who had come up with an innovative health product.
1 day ago
Fans compared Jennings' laid-back style with late television host Fred Rogers.
1 day ago
The offer being made to the entrepreneurs by O'Leary also seemed to be a bit unfair.
1 day ago
The guest said that she had received the item from her grandmother who had inherited it.
1 day ago
The "Pawn Stars" were aleft impressed by the only basketball signed by the OGs Jordan, Phil Jackson, and Kobe.
2 days ago
Turns out that Mr. Wonderful was ordained by the state of California to do the job.
2 days ago
Fans did not expect to see a person with such a striking resemblance to the former Vice President.
2 days ago
Rick Harrison wasn't trying to this item for a low price as it was historically significant.
2 days ago
Despite offering $1.5 million, Harrison was unable to make a deal for the historic item.
3 days ago
Kevin O'Leary hailed their salesmanship after coming to a $600,000 valuation.
3 days ago
The star also followed it up with a second shoutout seeking another chance for her on the show.
3 days ago
The clock was a piece of art and its mechanism was as intriguing as it gets.
3 days ago
The company wasn't profitable and this alone had turned away most sharks in the first place.
3 days ago
All three contestants were unable to make the right guess, and fans pointed out what was wrong online.
4 days ago
The guest was enthusiastic about the painting and the expert was marvelled by its story.
4 days ago