These popular Manhattan micro-apartments rent for less than $2,000 a month

Mortgage

In a city where finding an affordable place to rent is the subject of many a dinner party conversation, new micro-apartments are now going on the market for less than $1,000.

New York is notorious for being one of least affordable places in the U.S., so will these new micro-apartments hold the solution for some Manhattan residents?

According to an article by DailyMail, the answer is a resounding “yes” as thousands are lining up for a chance to grab one of these hot, new living areas.

The development is located on East 27th street, between 3rd and Lexington.

The Kip’s Bay project is the city’s first development of its kind, according to the article.

So how micro is micro? Each studio is about 260 to 360 square feet.

From the article:

Their unprecedented size called for several mayoral overrides, including a relaxation of the minimum unit size and the maximum number of units per building.

And though small in size, the 8-foot windows and nearly 10-foot ceilings means they feel much bigger than their tiny floor space.

The windows were designed to recall proportions used in New York’s 19th century brownstones.

The abundant daylight is also made possible by the Juliet balconies, which maximize the perceived volume of space.

Whereas the monthly average rent in New York is about $2,354 or higher, these 14 affordable units will be rented out from $914 to $1,873 per month, according to the article.

Almost 4,300 applicants per apartment applied for the living space. Winners will be determined by lottery. Another eight will be set aside for previously homeless veterans.

For more on the story, and to see pictures, click here.

Until recently, the few dozen tiny communities across the country were run largely by proponents of tiny living who had banded together or as affordable housing for the homeless. But that all started to change in 2014, when creating tiny house communities started gaining momentum among some traditional builders who want to have a stake in the new trend.

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