Current Events > NY Woman horrifies TikTok after posting video tour of $12K/month NYC apartment

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https://www.dailymail.co.uk/femail/article-10912745/New-York-womans-12-000-month-apartment-tour-horrifies-TikTok.html

A renter who has been documenting her apartment search in New York City has horrified TikTok users after showing the inside of a two-bedroom apartment that was listed for an eye-watering $12,000 a month. Stephanie Leigh, a fashion and lifestyle content creator, went viral earlier this month after she shared a video tour of two different units in a building located in the East Village amid soaring rental prices in the city. 'Our landlord decided to raise our rent an absurd amount because it's a condo building, and apparently they can do that. So here we are apartment hunting,' she explained at the start of the clip. 'This was a two bed, two bath in the East Village,' she said, panning the camera around the first apartment's open kitchen and living room. 'This was listed at $8,000, which is absurd. I mean, it's a nice apartment but not that nice.' While she was in the building, she attended another open house for a similar apartment just to compare the two. 'This was listed at $12,000 a month, way out of my budget, but I just thought I would go see it,' she explained. 'It was listed this high because they had a big terrace.' Leigh noted that she couldn't film the terrace because there were too many people on it at the time. 'The master bedroom and master bathroom [are] really nice, but not worth it for $12,000 in my opinion,' she added.

The video has been viewed more than 6.1 million times since it was posted on June 2, and thousands of people took to the comments to share their disbelief. 'Those prices are insane,' one person wrote, while another added, '$8,000 a month and they couldnt even sweep the floors.' 'New York is literally not worth the price,' someone else insisted. Leigh explained in a follow-up video that the $8,000-per-month apartment she had posted is 'already gone.' 'The scary part is that these apartments are flying off the market,' she said. 'Two hours after I posted the video I got an alert from Street Easy that it's in contract, and I'm like, "Are you kidding me?"' She added that she ended up losing another apartment that she liked because someone else offered an extra $1,500 a month and a two-year lease. The median rent in Manhattan hit an all-time high of $4,000 per month in May a 40 percent increase from a year ago that beat out February's high of $3,700 according to a new report from real estate brokerage firm Douglas Elliman obtained exclusively by DailyMail.com. With most New York city landlords following a standard that a renter's annual income needs to be at least 40 times the rent, those looking for apartments in Manhattan would be expected to earn at least $160,000 a year to be considered. The surge in rent in New York City comes as competition for housing soars throughout the city and landlords end special deals that lowered rent for those impacted by the pandemic, according to real estate consultant Jonathan Miller, who prepared the Elliman report.

https://www.tiktok.com/@stephanieleighnyc/video/7104697972746882350

don't fall for the scam, i'd rather spend $12,000 a month for my kids future

@jeffhardyb0yz hows your negotiations going with your landlord?

jesus christ

the world is literally remote now. get the fuck out of that shithole

Imagine how much a luxury condo would cost

Why tf would anyone want to live in NYC

So I don't get why rent rises in the beginning. Are the landlords getting charged more which sets the costs to be higher. Like taxes?

CountDog posted...

So I don't get why rent rises in the beginning. Are the landlords getting charged more which sets the costs to be higher. Like taxes?

No, the landlords are greedy millionaires

https://gamefaqs.gamespot.com/a/user_image/7/6/2/AAEhCpAADVzy.jpg

I'm sure there's a deliberate push to get poor/middle class people out of Manhattan and other places. The rich will get to have their safe spots away from the filthy commoners. They'll probably put a wall around Manhattan eventually like in Escape From New York. It will be one giant gated community.

No one should be renting any place for $8k a month

CountDog posted...

So I don't get why rent rises in the beginning. Are the landlords getting charged more which sets the costs to be higher. Like taxes?

Because it has water on nearly all sides. If you cant build more housing, prices go up.

wtf, that's almost $150k a year in rent.

MC_BatCommander posted...

No, the landlords are greedy millionaires

Then why can't a state, and or federal. Push laws that requires a pricing that fits a median? Between minimum and trade. And or tax, trade, business a bit more to draw the median out?

I'm sure it's gets way more complicated with trade/export/import. And I have zero clue what I'm talking about. But I feel the government could be making more money. And keeping a affordable, and comfortable lifestyle available for most people to have.

I know I'm looking through a lens right now. But if it's as bad as I come to expect. Then Jesus we are blindsiding ourselves everyday.

CountDog posted...

Then why can't a state, and or federal. Push laws that requires a pricing that fits a median? Between minimum and trade. And or tax, trade, business a bit more to draw the median out?

https://www.cato.org/policy-analysis/how-rent-control-drives-out-affordable-housing

I just can't seem to have any sympathy for anyone who would even consider this while knowing it's a problem.

Some Saudi sheiks spend more than that a day for a super yacht.

CountDog posted...

So I don't get why rent rises in the beginning. Are the landlords getting charged more which sets the costs to be higher. Like taxes?

A number of things. From wealthy people and family's relocating, cooperations/people domestic or international buying up any and all affodable properties to flip and sale. Lack of supply vs demand, moratorium, caused a huge supply issue since bad residents couldn't be evicted, and many landlords likely trying to recoup lost revenue during the pendamic and many other things.

And there's no simple fix either, since there's only so many housing units you can build in a desirable state/city.

Prismsblade posted...

A number of things. From wealthy people and family's relocating, cooperations/people domestic or international buying up any and all affodable properties to flip and sale. Lack of supply vs demand, moratorium, caused a huge supply issue since bad residents couldn't be evicted, and many landlords likely trying to recoup lost revenue during the pendamic and many other things.

And there's no simple fix either, since there's only so many housing units you can build in a desirable state/city.

Yes I definitely can understand the limitations of space. I've studied some dictators in the past. And a book, and or two by ones who had written. And it's always interesting seeing their greatest worry being population. Their solutions was to either turn the people into cattle that give much more than can take. Or mass genocide.

It does seem like there are other solutions. But it would require I think more charitable, disciplinary, people. With the fuel of greed tempered down to a much lesser extent than what we dream of ourselves. Very idealistic, and not as boring as it might seem I'd wager. Though speculation.

Oh well.

Lebronwon posted...

With most New York city landlords following a standard that a renter's annual income needs to be at least 40 times the rent, those looking for apartments in Manhattan would be expected to earn at least $160,000 a year to be considered.

But fucking why? I was pissed when I saw a place asking for 4 times the rent near me.

Lebronwon posted...

a fashion and lifestyle content creator

a what?

Questionmarktarius posted...

https://gamefaqs.gamespot.com/a/user_image/7/6/2/AAEhCpAADVzy.jpg

wait, why is the US Census Bureau using Square Kilometres?

that map is sus af

Damn and I thought a 3 bedroom house for $1200/mo in Missouri was rough

I mean it's rough because you have to live in MO but still

Who are they even renting to? Are there people making 300k a year that would want to live in such a shitty space? I get convenience costs money, but I imagine most people with that kind of money would rather have an actual nice place to live.

Naysaspace posted...

a what?

Influencer

Naysaspace posted...

a what?

A parasite. Not unlike the landlords she condemns.

[LFAQs-redacted-quote]

Just my take but it you travel a ton via flight then it's a great hub city to live in. Great direct flight options, and much cheaper to boot be it domestic or international. Same for certain costal citys for cruising as well.

PoundGarden posted...

Why tf would anyone want to live in NYC

Because its one of the best cities in the world and has more conveniences, jobs and fun that almost any other city in America

TheChariot6 posted...

A parasite. Not unlike the landlords she condemns.

People are bitter...

You could rent a large house outside the city AND hire a chauffeur to drive you in a luxury car into the city for work for a fraction of that monthly rent. Jesus Christ.

YookaLaylee posted...

Because its one of the best cities in the world and has more conveniences, jobs and fun that almost any other city in America

The availability of jobs, especially for certain industries, is at least a good reason to put up with higher than average rent.

If fun and conveniences are that important that youd entertain spending 12k a month for something like that then thats your problem.

gamer167 posted...

The availability of jobs, especially for certain industries, is at least a good reason to put up with higher than average rent.

If fun and conveniences are that important that youd entertain spending 12k a month for something like that then thats your problem.

No, I agree that paying that much rent is stupid and insane

hockeybub89 posted...

But fucking why? I was pissed when I saw a place asking for 4 times the rent near me.

Limited supply let's landlords have sky high requirements. Article doesnt even mention if you dont have a good credit score they often ask for a guarantor who has to have 80x the rent.