Despite a rough economy, Manhattan rents continue to climb and are higher now than they were in 2007. A president for an appraisal firm notes that the high prices arise from "a tight credit market that forces people to stay in the rental market and limits new construction." So we looked to the New York Times to bring us tales of "woe," of Manhattanites moving into cubby holes off the Bowery or back into their parents' Brownstones in Brooklyn. Instead, we get a couple who responds to the economic "squeeze" by buying a $1 million place in DUMBO and a group of dudes who decided to pay $1,700 more in rent, cause they wanted to. We've said it before: you're not rich enough to read this newspaper.
Lets put aside the story of the couple who moved out of their $2,850/month place in the West Village to buy a $1,055,000, two-bedroom, two-bath place in DUMBO, because that makes our soul curdle.
The same goes for the other couple who just moved into a smaller place in their same building for slightly cheaper: not much "woe" factor there either.
Meet 25-year-old Joseph Rosati and his two roommates, who were living in Murray Hill for $3,700 in a converted two-bedroom. When the rent was due to be raised to $4,300, they began looking around:
"The group could not find anything acceptable for under $4,700."
"Dammit man, I said I wanted river views, not river vistas. Pull your head out your ass!" So naturally the solution was to take a two-bedroom apartment with a home office at 37 Wall Street.
“I did not move to New York City to live in Hoboken or Jersey City,” Rosati said, presumably adding that he was unaware of other neighborhoods in Manhattan where housing is located.
It just so happens that 37 Wall Street is the same building whose residents loudly cursed the Occupy Wall Street demonstration on Monday. A studio there is just $2,450.
