Tenant reveals what New Yorkers get in rent for $8,000, sparking debate

A TikToker went viral this week after showing what an upscale New York apartment looks like in 2022. Spoiler alert: It’s not great.

After posting the TikTok just four days ago, user Stephanie (@stephanieleighnyc) received over 5.6 million views, with many users wondering how prices in the city got so high and how landlords paid so much for a such a meager offer can expect.

Stephanie has also posted several subsequent TikToks on this topic.

@stephanieleighnyc NYC housing market is crazy right now…. #nycapt #leasing ♬ original sound – stephanieleighnyc

“This market is crazy right now,” Stephanie says on her TikTok. “I’ve never seen it like this, and this is my eighth move in New York.”

As the video progresses, Stephanie explains that she’s moving into a new building after her landlord drastically increased her rent.

“Apparently they can,” she says at the beginning of the video.

Because of this, she has made several viewings throughout New York, many commanding high prices for comparatively minimal offerings.

In this video she shows one of the apartments in question. She says it’s a two-bedroom, two-bathroom condo in the East Village that’s listed for $8,000 a month.

While noting that the apartment is “lovely,” Stephanie points out that the price is “preposterous,” noting the small closet space and dated bathroom.

She later shows another apartment in the same building listed at $12,000. While she attributes the high price to the apartment’s “big patio,” she states that the space “isn’t worth it at $12,000.”

As for why she even looked at the apartment, Stephanie claims she was fooled by the apartment’s listing.

@stephanieleighnyc #greenscreenvideo ♬ original sound – stephanieleighnyc

“That’s not what I saw at all,” she says in the video, referring to the apartment’s bathroom. “It must be a completely different apartment.”

In fact, the images provided online appear to differ dramatically from what was shown in the original video, with many users commenting that the virtual staging was done in a way that led viewers to believe the location is bigger than it is actually is.

“I feel like I’ve been scored,” Stephanie says in the video.

She also claims in this video that she thought she could negotiate the price down, unaware that some people are offering an “above ask” price.

In the comments below the first video, users were shocked by both the high prices and the apartment itself.

“$8,000 a month and they couldn’t even sweep the floor,” wrote one user.

“It’s like a mortgage for two houses depending on where you live,” said another.

“How can NYC not have laws against it,” asked a third.

According to Zillow, the asking price for this apartment is above average. Zillow claims the average rental price for the East Village is currently $4,495. However, rental prices are increasing at a dramatic pace, with median rental costs up over 36% compared to the same time last year and 12% since January alone.

The question of whether New York has rules for rent increases is divided. For rent-stabilized housing, which accounts for 50% of New York’s housing units, the rent can only be increased “in accordance with rent guidelines issued by the Rent Guidelines Board or for a specific reason set forth in the Rent Stabilization Code.” a Website operated by the states of the City of New York.

However, for apartments without stabilization, landlords are free to increase prices at will as long as they give the tenant notice of termination (the time it takes for a tenant to give notice depends on the length of dwelling, depending on the city of New York).

Prices like this and a lack of regulation could even drive Stephanie out of town and discourage many commenters from relocating to New York.

As she said in the comments, “We’re thinking about it [new] Jersey at this point, still looking and hoping for the best.”

The Daily Dot contacted Stephanie via email.

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*Initial publication: June 7, 2022 at 8:39 am CDT

Braden Bjella

Braden Bjella is a culture writer. His work can be found in Mixmag, Electronic Beats, Schön! magazine and more.

Braden Bjella

https://www.dailydot.com/irl/new-york-rent-8k-apartment/ Tenant reveals what New Yorkers get in rent for $8,000, sparking debate

Jaclyn Diaz

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