Living In A $3,800/Month Apartment In NYC | Unlocked

[@CNBCMakeIt]

Do you rent or own? Share your story with us for a chance to be featured in a future installment of Unlocked: cnb.cx/3pzY8Ps

[@TroyKnight12]

I rent a penthouse for 63,000 a month

[@karencote7502]

@@TroyKnight12 does it come with a personal butt cleaner ? 😂😂😂 Personal personal hygiene is super important

[@kasivaraprasadkunapareddy7956]

Please help me plzz my mother health paoblem please help 🙏🏻 🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻

[@Andre-jp4yt]

This profile is a fake one. This is not the real "CNBC Make It.", they are impersonating "the CNBC Make It."

[@adriannahorton5638]

I own my second condo in Washington for $1400

[@famousamos]

Bruh, $3800/month in rent is $45,600 total per year. That’s more than most salaries. Goodness. NYC is so expensive.

[@MatthewNY94]

True, but there's two of them sharing the apartment so two salaries. I assume they both contribute to rent. Most people who buy a one bedroom apartment in that area (there are cheaper places in Manhattan to live) are probably couples who share a bed. For a single person to live there they would have to have a really good job and make tons of money

[@17teacmrocks]

glassdoor spotify data scientist: 130k * .72 = 93k min not even including lawyer earnings. ez if you're willing to pay for living. for top earners in nyc, 100k's is just starter comp

[@nubiandarkie]

No, it really isn’t. It just depends on your lifestyle/living preferences. If you want to live in an expensive area in the city then yes. If you’re ok with living in Brooklyn, Queens etc then it’s not quite.

[@_baller]

NYC is stupid

[@Giggles50]

Waste of money!

[@Anthonymoreno0519]

So they found the apartment told the broker and still had to pay him 7000 for an apartment they found themself smh insane

[@tracy_cakkes]

Was thinking the same thing

[@ozziejin]

Mafia broker

[@davidchandler6885]

think 3800, they paid first last and damage deposit

[@davidhe3676]

Yep. $15000 - 3800 - 3800 = 7400

[@CaraMarie13]

They probably went with a broker to make it more convenient since they were living in California but yeah, if they had just gone at themselves, they would have paid $3k less upfront. Obviously, this couple is not suffering from lack of funds but that's just a waste

[@virtualrealitystudy7114]

Shocked they didn't have to do a blood oath and offer up their first born too.

[@christi-annebeatty5456]

Best comment

[@omfgdelaney]

hahaha!

[@twofeathrz]

Lmao

[@lambr0063]

😆

[@mimiwallen]

You’re so right! Lol

[@o.fatima7175]

For $3800 per mo, I'm gonna need a washer/dryer, balcony, gym, pool, & a business center...or I'd just purchase a home.

[@karencote7502]

And a personal butt cleaner 😂😂😂

[@SeanBaker]

I have a whole house for just under $800 per month, including taxes and insurance, in OKC. If I wanna go to NYC, I'll just go visit.

[@tracy_cakkes]

Yeah that’s wild They probably make good money there tho 🤷‍♀️

[@davidchandler6885]

@@SeanBaker who wants to live though

[@davidhe3676]

They get paid enough to pay rent for 3800 tho

[@gardenboydon]

A lawyer and a data scientist can't even own property in NYC? Brutal world we live in

[@sachinrajeev44]

But they can afford to pay 3.8 k rent per month💁🏼‍♂️

[@sabrinatatalias4277]

Literally what I thought

[@gennagresham3986]

They never said they couldn't afford it. She's only 26 years old anyway, what's the rush? Most 26 year olds I know in DALLAS haven't even bought a home.

[@xcelpast]

@@MegaJiggaa Yeah a lawyer definitely doesn't have $200k in student loans out the gate. "They're not budgeting right" lol get outta here with that critical bs.

[@MegaJiggaa]

@@xcelpast a lawyer and a data scientist at a good tech firm easily are making over $400k/year. Even with debt or half his income, they could be saving a lot as well as paying the loan down.

[@mikee5809]

She paid a $7200 broker's fee for a apartment she found herself. All the broker did was set up a time for the open house.

[@yueyue7514]

I wonder why she couldn’t set up the time herself...

[@gaynano42]

yea, brokers for apartment is a scam, never use them especially in a city, just ask the landlord for a apartment tour. Most of the time the broker splits the broker's fee with the landlord since they set it up its a scam. always say no to brokers and have the super of the building to show you the apartment.

[@edithl1044]

Yea brokers in NYC are super shady. They usually charge a percentage of the rent not rent + deposit.

[@pikakac2441]

Based on my own apartment hunting experience in the NYC area, most of the time the actual owner of the unit doesn't want to get involved even if they literally live down the block. They'd rather pay a broker to manage the whole process. It's very difficult to get in touch with the owner directly.

[@gaynano42]

@@pikakac2441 That is true most owners don't care about the people they rent to, they just want money for there apartments regardless if it's nice or not. Slumlords do exist in NYC just be-aware of the type of landlord you get stuck with.

[@drewconway7135]

They’re paying for location. I wouldn’t make that choice, but to each their own.

[@gointomars]

I mean if they can afford it easily.. by all means 💁🏻‍♀️

[@buzzlightyear8896]

@@daly_powerandphysique I bet they make 300k + combined

[@ManaFate321]

@@daly_powerandphysique she has a side hustle and he probably does too

[@SayYoJ]

Daniel Daly 🙄

[@colorfulcodes]

@@daly_powerandphysique it says her company in the title. Spotify. Someone said she's senior so according to levels.fyi and glassdoor she could be making 150k base not including stocks or bonuses which is common in big tech.

[@57Nights]

$3800 For a 1 bedroom during COVID is a scam.

[@JJ-mh3hb]

Every minute a sucker is born. This couple is the reason brokers get away with murder for doing absolutely nothing.

[@f_jay]

May COVID correct the rental market worldwide, especially in NYC...These rental prices are ridiculous

[@57Nights]

@@JJ-mh3hb Seriously, its a joke they paid 7k to a broker for an apartment they found themselves

[@57Nights]

@@f_jay It slowly has been, $3800 for what theyre getting is a scam, you can get a 1br in their area with better amenities for $2500-$3000

[@invisibleicecream9470]

exactly what I am thinking! This is such a waste of money lol

[@adamsosa]

All I have learnt from this is I should have been a broker 🤩

[@mimiwallen]

In NYC or San Francisco lol

[@jenniferbullett7254]

Right!!! 😁😂😁💰💰💰💰

[@kevinsjournal]

Same I considered it as a career path, maybe have to finally do it. Supposedly you don't even have to go back to college for it.

[@jeanp.5929]

I learned that I should never rent. Ever. $3800 /month for a property I’ll never own. No thank you.

[@Giggles50]

@@jeanp.5929 Exactly, makes no sense. If they don't own a home, they are idiots!

[@King_Jab]

The whole process to get this place sounded a lot like a job interview with the need for references and interviews

[@jeffghant4760]

Sounded like applying for an FBI job.

[@MattSezer]

Yeah, that makes no sense. Normally you only have to go though that if you’re buying into a coop, not renting.

[@ManaFate321]

@@MattSezer it is a coop

[@MattSezer]

@@ManaFate321 They're not part of the coop. They're just renting.

[@christopherliang6879]

Well co-ops are mostly occupied by people who own the property so I can understand them being careful with renters. Plus it is NYC after all

[@lolas369]

You were 100% scammed by paying that broker. You (not the broker) found the apartment and could have scheduled a showing on your own. You essentially paid him $7000 to book an appointment. Plus you’re still paying too much rent for such a small apartment, especially given the market in this pandemic. You should have looked for other apartments rather than renew your lease. - Fellow New Yorker

[@bryngarrity5548]

That's not how it works at all. Most apartment complexes in large cities (even small ones, and especially a co-op) require the use of a broker. For example, i'm currently moving from my apartment in Boston. If i did all the work and found someone to sign a new lease, they would still owe a broker fee (although it would be half, due to the broker not being involved).

[@harshitkapoor7881]

@@bryngarrity5548 and here I'm earning 100 dollar a month

[@topcomment3816]

@@bryngarrity5548 If THEY require the use of a broker, then I require that they pay the fee. And if everyone else did the same as me, then magically the broker requirement would disappear. 🤯 Problem solved.

[@bryngarrity5548]

@@topcomment3816 omg you just totally blew my mindddddddd i had no idea if we could just ensure that every single person ever would boycott the broker fee, it would disappear! what else could we accomplish with this mentality??? if everyone refused to work for less than $15/hr, we could raise the min wage! this solves soooo many problems!

[@topcomment3816]

@@bryngarrity5548 Wow nice false syllogism you got there. This is not about the power of the mob. This is about having enough smarts to know when you are getting ripped off. I don’t need a broker to explain to me how an apartment works. But for people like yourself who seem to suffer with a low IQ, keep paying thousands of dollars for someone to unlock a door for you. 😂

[@LennonTheBunny]

"Sunlight doesn't help me save money" -- um yes it does. You use less electricity!

[@johannalita]

What do you pay for electricity? I don't think ive payed over 20$/month ever in Sweden 😅 And Fiber wifi 1000/1000 is almost always included in the rent. Atleast if you buy your apartment

[@gigig6021]

@@omokushey 80 to 100$ is insane!!!

[@kevinpanahon9702]

Just wait til the therapy costs from depression start racking up.

[@ac444]

@Incomeking she said they work from home and they probably don't go out because of the pandemic

[@loritouma5899]

Absolutely does ...

[@maxnguyen828]

Lots of criticisms about how they spend too much. Remember, this is a fancy part of Manhattan. They're data scientist and lawyer. They ain't dumb.

[@colorfulcodes]

Exactly. Less than 30% of their income most likely.

[@alp.9672]

Lol finally a sensible comment

[@zrm2158]

I'm a lawyer and I assure you there are plenty of dumb lawyers, especially when it comes to managing their money.

[@alp.9672]

@@zrm2158 that can be said literally about any professional though..... Also from one lawyer to the next pay can vary greatly. As we know.

[@jazcaddell2443]

Plenty of "smart" people don't have a clue about their finances.

[@jayoils123]

Sound more like a job interview to get a executive position in a company than renting a apartment

[@Kuwkay]

🤣 right wtf

[@gloriacabrera3226]

It blows my mind honestly , it’s so crazy

[@SummeRain783]

So pretentious

[@andrews4502]

really love all the comments in the youtube section describing how two 6-digit salary earners should spend their money

[@davidbang9638]

NYC housing is a scam. Especially charging that much during the pandemic. Loved growing up there, but housing is actually impossible there.

[@pokiblue5870]

Whats the point of living in a high cost place ? Why not go to the cheapest city?

[@michelewilliams2920]

This just reinforces my need to get out of NYC. They pay all of that and go through a interview for something they don’t own?

[@harshitkapoor7881]

I make 300 a month 😭😭😭

[@yusufa.1275]

@@Engagenumberone um, for real, what field are you in, if I may ask?

[@ednara9689]

@@Engagenumberone girl.

[@Engagenumberone]

Universe, I want to become a millionaire again.....with all haste.

[@arnabsharma6374]

The broker fee makes no sense! That caught me off guard, 7k!! When she found the apartment.

[@rationalistfaith]

NYC is now built for needy ppl that are chasing that life. This couple doesn’t sound that bright.

[@ramonr3921]

I don't care how nice an apartment is, an apartment by definition feels like a rentable thing that never really feels yours. I want to own a house, make it nice, and get value back for the renovations I make.

[@LifeofKairo]

0:00 I'm already feeling ANXIOUS!

[@EnigmaticallyErin]

As a fellow New Yorker, I can tell you this is a horrible deal. This apartment wasn't even worth $4000 last year. For $4000 you can get a 2 bedroom that's in a full-service building and has laundry in unit EASILY. And don't even get me started on the broker's fee.

[@fantastic180]

They were ripped off.

[@gennagresham3986]

I think videos like this focus on exaggerated rents because it makes more interesting to watch. I personally prefer more realistic scenarios.

[@colorfulcodes]

Thanks for sharing. I've seen central nyc locations that look better for the same price as well

[@josephinebournes8212]

A fool and his money are soon parted.

[@laalchimista23]

@@gennagresham3986 as a new yorker, you wouldn't believe how realistic this is nowdays, its insane here.

[@454lin]

Wow a grueling interview process to get an apartment

[@pkal244]

Haven't you seen that Seinfeld episode? Haha, it can be a thing here as they want be sure you can fork over $4k every single month and be ok with rent increases every lease renewal.

[@vincentv1790]

Thats how it is with coop building... too much process and obligation you have to follow with boards regulation

[@cryptoflippodcast]

I know everything is relative but $3,800 for a 1 bedroom apartment Could never be me 😄😄

[@twdjt6245]

Ikr....and it’s not even the cost of the rent that’s the only issue....but the fact that they are going to be paying that ridiculous price every month for something they will never own. Baffles me. One of the many reasons why the city life will never be for me.

[@JRPGGUY]

I pay 1/4 of that for a 2 bedroom apartment. Glad I no longer live in nyc

[@tracy_cakkes]

Me neither I’d rather visit

[@metalmadness90000]

@Adam A. lol it doesn't matter how much more she makes when she is spending more

[@pkal244]

@@metalmadness90000 If they make $350k a year then that $3800/mo is a tiny percentage of their take home pay. Everything *is* relative

[@shanie01234]

here's the thing about non-native folks coming to nyc: they can't tell what's a good deal and a bad one nor can they tell when they're getting robbed in broad daylight

[@miguellorenzo3609]

🤣🤣🤣🤣🤣🤣😍🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

[@melvche1992]

She could've used data science to check that out, but she didn't!

[@marishkaspirit]

There's a saying in my country when it comes to house: "where the light of day doesn't enter, the doctor does". I would never choose a house poorly naturally lighted. And is even crazy expensive

[@chrono1g]

Their joint income is likely in the 250 - 300K range. $3,800 a month is totally within their budget. They can still save / invest plenty of money.

[@mayloop123]

Exactly! A data scientist and lawyer.... this is nothing to them

[@tracy_cakkes]

Yeah it’s a lot but they can probably afford it U tend to make more in these big cities as well

[@Wangan_W]

Yeah and right by Union Square which explains why its so expensive.

[@antoninactiveemail5397]

Imagine how much they pay in communist taxes

[@SolisticeCrye]

A lawyer alone would be making 250-300k. Combined they probably make 500k+ especially since spotify is public.

[@xKiDDiamonDx]

New career: become a broker.

[@nwamama7101]

In NYC...

[@youngcho5260]

And start ripping people off

[@kevina3813]

$15k upfront to RENT?!?!?!

[@lilsweetie11213]

Sounds like closing fees in some places

[@usaf2011]

Pretty crazy right, my studio in NYC was $7.5k upfront to rent. First and last months rent, security deposit, brokers fee

[@janosibori149]

The comments are so negative, she seems so nice and lives in NYC so the normals different

[@andrewbyron4487]

Not about her about new york

[@grinpark7480]

I think they will stay there for a while. They are traumatized by the nyc rental process.

[@davidbang9638]

I doubt it’s as grueling this year. Lots of people moved out of gramercy and to more affordable areas, even to NJ.

[@rsimmons1980]

@@davidbang9638 Yeah. Rent has dropped greatly.

[@jason3575]

If I was making 1 million a year, I still wouldn’t live there.

[@shanfarco1574]

I wouldn't even stay in the city, I'd move to Brooklyn.

[@liyexiang666]

i would rather just retire than live there

[@APennyPinchersGuide]

It's crazy how prices are so drastically different in different parts of the country! Getting your housing costs down is critical to controlling your personal finances

[@tracy_cakkes]

Yep yep

[@pkal244]

@@tinomorgenstern3430 agreed 100%. When I was living in the burbs I would scoff at these prices but we pay nearly that for a 1BR in UWS, Manhattan. Thing is, when I moved to NYC my salary literally doubled and just kept going up from there (I'm in tech). I wouldn't be making nearly the same amount as I do now if I stayed where I graduated high school.

[@theendurance]

@Tino Morgenstern Most people don't realize that theyre actually saving way more money by living in the city. Their salaries (combined) would like be over $300K. $3800 rent is a small fraction of their income and they are saving way more compared to living in a cheap area

[@siphokazileratomalinga2969]

@@theendurance how are they saving more? Can you elaborate more on this? Big cities in my country are expensive,but this also depends where in the country the city is. The parts of the country that are comparable to Manhattan are extremely expensive and few people live there. In one city, the rental market is sustained by foreigners who come for vacation. Most people tend to live out of the city centre and commute to their workplaces. The downside to this is that one spends a lot of time on the road☹️

[@colorfulcodes]

@@siphokazileratomalinga2969 Example, entry level tech job at my last company in Ohio paid 48,000 a year. Entry level job at my new company in Seattle is at least 95k salary. Location matters.

[@FabioTheGreat]

$3,800 for 1 bedroom apartment? Graham Stephan gonna enjoy this video, LOL.

[@fakedzarcasm7350]

Haha factssss

[@chrisjacklee3670]

They make at least 200k each, I don’t think it’s an issue to them.

[@shantralarharris2893]

Yup I'm waiting lol

[@alp.9672]

@@chrisjacklee3670 pretty much and people here are really don’t realize the location this couple living the dream to me

[@typicalfordguy]

Your comment is in Graham’s video

[@FinancialShinanigan]

I'd just buy a house in NJ and visit NYC

[@Engagenumberone]

Exactly

[@DemiRonin]

Yeah you’d save a brickton but you’d also like a very different life.

[@jolp9799]

the property taxes are way higher in nj, and since they both work in manhattan maybe the daily commute was just a deal breaker for them

[@summernoir3845]

@@jolp9799 you mean the commute from their bed to the standing desk in the living room?

[@ceal4046]

For any fellow Europeans watching this, back me up when I say that the co-op board approval process is basically legalised discrimination. If you can afford the rent, that should be the end of it!!

[@frankiel3767]

It pretty much is. Mariah Carey talked about the first time she tried to get an apartment in a co-op building she had to explain in the interview process that she won’t invite “her friends” to party late at night. One even asked her if Biggie Smalls would be coming over with his entourage, Mariah said she sarcastically replied by saying that he’s dead

[@Tepera]

As long as they are happy, that is the most important thing. Personally, i am too afraid to pay that much in rent even though i could actually afford it. However, we only have one life and i think people worry too much about things like this

[@tracy_cakkes]

Agreed! Not for me but as long as they’re happy

[@theendurance]

we need more people like you in these comment sections. so many jealous (and often poor) people judging others for paying "too much" on rent.

[@Ellyestelle]

@@theendurance right. Imagine being more worried about other people’s money than they are 🥴

[@savageelle9077]

Let me guess you're a marketing major at Texas State

[@dedeshikaalabi-mensah9471]

I thought California was expensive but NEW York got us beet.😂🤣

[@pey7777]

The $15k they put up front is the same as the downpayment i just put on a $300k 2200 sqft townhouse. Our mortgage is literally 1/3rd of her rent. Who wants to live in a shoebox in these super high cost of living places for the same price as a huge townhouse? what a waste

[@Mailman_Fresh]

Facts

[@adamsosa]

@@Mailman_Fresh stone cold facts 👍🏻

[@Oahu-]

I used to be able to say the upside is the nyc night life and restaurants but now that everything closes early, there's no good reason to be in ny lol

[@kevinb8881]

PREACH!!!😁✌💯

[@Random_ZZ]

Wow 300k for a townhouse is a deal! Would you be willing to share where?

[@ralphnova1988]

As a fellow new yorker this is so dumb. Even if you can afford 3800 a month there are SO MANY BETTER OPTIONS FOR 3800. sheesh!

[@Wangan_W]

Its about the location I guess.

[@jasonschwartz8507]

@Vivian Foster Grammercy is very prestigious, especially places with park access

[@colorfulcodes]

@Vivian Foster It's prestigious lol.....

[@pikakac2441]

Not to disagree with you, but the balcony alone could worth $300 or more in rent. We don't get to see it because of the rain, but I'm guessing it's one of the reasons the apt is so expensive.

[@saibushayer]

*_VIDEOS LIKE THESE MAKE ME GLAD I MOVED OUT OF NEW YORK ASAP_*

[@saibushayer]

@@itsjimmy7133 *_LOVE THE EFFORT YOU PUT IN FOR THE FAKE ACCOUNT: EXACT SAME NAME AS THIS CHANNEL AND EVEN THE PROFILE PICTURE IS VERY CLOSE. BUT THE FACT THAT THERE ISN'T A 'VERIFIED' CHECK BESIDE YOUR NAME IS A DEAD GIVEAWAY. ALSO, ONE HAS TO THINK WHY WOULD CNBC WANT ME TO WRITE TO THEIR MANAGER ON 'WATSAPP'? A FOR EFFORT THOUGH. LOL_*

[@chenming6940]

The rent is expensive, but they are lovely and hardworking couple. Wish the best for them!!

[@harshitkapoor7881]

I make 500 dollar a month 😭😭😭

[@metrokick911]

I’m in a 1br in Gramercy as well and before the pandemic, I thought the natural light was great. After wfh for months, I now realize the natural light is not nearly enough!

[@logen99999]

Her husband is literly working/browsing the web while CNBC and their crew are filming the apartment. What a legend.

[@asadb1990]

these cnbc videos are a scam. they over glamorize the american lifestyle. and they don't pay the participants to be seen in videos.

[@Pablillotron]

A few notes about most of the comments here: To everyone saying "she's a data scientist in NYC, she makes $200k a year"... No, you're probably wrong. I'm a senior data scientist in NYC and my BASE SALARY is nowhere near $200k. Total comp is close to that figure, but you don't pay rent with total comp, i.e. bonuses (if you do, you need better financial practices). If you check websites like Glassdoor, NYC DS make $130k, senior $150k, on average, including Spotify (where she works). That's congruent with my experience. I'd feel comfortable paying $1,900 as my half of rent for a 1-BD (pre-covid that was a very common rent for a Manhattan 1-BD) but they made many mistakes. They dished out a $7k broker fee (!!!). At that price range there are many apts with no broker fee. They also chose the hardest neighborhood to move into. The requirements in Gramercy are more stringent than elsewhere in the city. 3 blocks away, they're in Union Sq, equally as nice, same $ range, no condo board interviews needed. Because they are not from the city and had to move in a hurry, their mistakes could be overlooked. But why they're not moving out now that comparable 1-BDs are 35% cheaper is beyond me.

[@colorfulcodes]

Thanks for sharing. This is the most valid response. Those people are definitely inflating. 150k base is most likely as a senior at Spotify. However, for him someone said his firm pays new grads minimum 190k (could be exaggerated) and he went to Columbia law school which is top tier so may be true. 🤷🏾‍♀️

[@deega1234]

I wonder how the rental market is now in NYC. 3800 is a lot of money, covid or no covid.

[@banshee1133]

It's a prime location.

[@neilgordon5356]

The deals are absurd rn, this couple is just doing it completely wrong

[@chrisjacklee3670]

Guys she makes 200k+ as a senior data scientist. Her husband probably also makes at least 200k. I don’t think they’re worried about paying 3800/month lol. They want a good location in NYC, it’s not as terrible as you all seem to be making it out to be.

[@brittanyb5942]

Exactly! That's pocket change to them 🙄

[@alp.9672]

Yea lot of these comments are delusional or maybe some jealousy

[@mimiwallen]

This is true! I know ppl that earn that kind of income (no kids) and either live in Williamsburg or Soho. They don’t complain as they’ve it. But they rarely use to get to spend time in their expensive apartment. As they spend so much time at work. Until COVID-WFH. TBH if ppl in the comment earned that, I’m pretty sure they wouldn’t pass up the ability to live in a nice place/area of NYC.

[@asiantrick24]

@@alp.9672 Not really delusional. 400k a year, with their tax bracket and new york state income tax combined at 40%, which mean they are taking back only 240K annually. Paying 48K annually for rent which is 20% of their net income is pretty high no matter how you put it.

[@asiantrick24]

@@daly_powerandphysique 400k is extremely optimistic at their ages!!! Low 300 or high 200 sound more like it

[@Zaneika]

No matter how much I make in my life time, unless It’s a down payment ... $15,000 will always seem excessive. Especially for a 1bd

[@harshitkapoor7881]

Which country are u from

[@kevinsjournal]

I live in NYC and for a 1 bedroom, they got jipped, a 1 bedroom in a location like Gramercy you can find for about $3200 if you hustle hard, even more true if it looks like an old building, instead of a new condo, you can probably even start a mortgage for around slightly over $3000 per month.

[@RokuX51]

I’m sure she aware but she wanted the big kitchen

[@drdisrespect5318]

Based on my own apartment hunting experience in the NYC area, most of the time the actual owner of the unit doesn't want to get involved even if they literally live down the block. They'd rather pay a broker to manage the whole process. It's very difficult to get in touch with the owner directly.

[@mrdieselsir]

Brokers fee for a rental property?? wth

[@tracy_cakkes]

Exactly 👀

[@jacquelinele9170]

I've read that it's a thing in NY! So crazy

[@MrFlashingdonkey]

Not uncommon in nyc

[@tpark89]

Welcome to NYC lol It's pretty standard for studio and up.

[@chabbie]

$4000 for a 1 bedroom and SO many hoops to jump through?!?!?! 🤮

[@TaureanBaby]

Exactly...I live in Brooklyn and they want to see everything...it is very anxiety inducing...

[@tracy_cakkes]

IKR an interview? 🙄

[@davidchandler6885]

i live in toronto its almost harder renting than buying believe it or not. but they went though all that, those building good chance get bug problems, only way your safe in cities now from bedbugs etc, move in new building or no building at all like townhome apts

[@BLACKAAROW]

I live in Queens and you can find apartments just as nice maybe even better for literally half the price smh idk why people think living in manhattan and paying huge rents is somehow better

[@summernoir3845]

As someone who lives in westchester, I have the same wondering about people renting in NYC.

[@talkingfinance2466]

My partner and I just moved in November 2020 as my lease had expired and I figured it wasn't worth renewing. The landlord already knew what I could afford, and wanted to lock in a comparable rate (it was about $3,700 between the two of us before). We decided on a 2BR (one to use as office) in the East Village for $2,500 gross rent. All rooms are sun drenched, with in unit washer dryer. The kitchen and sqft is comparable to this one. The pandemic has changed the NY real estate dynamic dramatically. If your lease is expired at this time, do not bother renewing. The average price I'm seeing for a 2BR of this quality is $2,500-$3,000 on the east side. If you're after the west side (e.g. Chelsea, West Village, etc), it'll be about $3,000-$3,500. Also - never pay a brokers fee. There is literally no point, and there are thousands of great options without broker fees attached.

[@colorfulcodes]

Nice.

[@yandyloy8519]

Thats so intense, I can literally get a 4 bedroom 3 bath house with a pool in Miami for that much.

[@AntonSlizzardhands]

1 bed, shared walls, and no parking for $3800 a month. No thanks.

[@TaureanBaby]

😂😂😂

[@cbnunya]

I get the other criticisms but parking? This is Manhattan. You're not supposed to be driving. Complaining about having no parking in Manhattan is like complaining there's no burgers in a sushi restaurant. We don't drive here except for the ultra rich and suburban commuters.

[@davidbromfieldjr.234]

Don't need parking. It's new york.

[@MK-hh1vo]

@@cbnunya speak for yourself. As a car owning NYer, no parking space is a deal breaker precisely because of ridiculous parking laws and nowhere to park on NYC streets. I'm concerned that they don't have a washer/dryer in their unit. 4K for a shared laundry room is another deal breaker.

[@AntonSlizzardhands]

​@@davidbromfieldjr.234 FYI, I lived in Manhattan for years and for $3800 a month you need parking.

[@Bigbnfgv]

the initial cost is my rent for a whole year, and i live in manhattan....dang

[@LilYashy]

So they found the apartment told the broker and still had to pay him 7000 for an apartment they found themself, Insane

[@johnconnor2402]

Everybody's saying they're being scammed. It's all perspective. They're likely making at least 300 - 350k combined so $3800 a month is nothing.

[@norbs4004]

Dude even if you make a million a year its idiotic to spend 3800 a month on rent lol. Might as well own if your crazy to pay that much in my opinion.

[@celinediaz3668]

@@norbs4004 they are not making a million a year, and as they said they'd like owning but they can't afford it yet.

[@lyricsxx9706]

honestly 3800 can be worth it for a 1 bedroom apartment but definitely not this apartment, I don't live in New York but I looked up apartments for fun and I found way better deals in good locations

[@celinediaz3668]

@@lyricsxx9706 in her area? close to Spotify?

[@cxjcole]

They clearly have a yearly income of at least 300k. They’re looking to buy eventually so they’re good with money, but they have the money to live comfortably so they can afford to have high expenses. It’s all about the percent of your budget, not the dollar amount

[@Ellyestelle]

Exactly

[@cre8tion26]

how are ppl coming to conclusion they're making ~300k??

[@cxjcole]

@@cre8tion26 she’s a data scientist for Spotify so she could easily be making 150k if not more, and supposedly her husband is a lawyer or something (from another comment) so they have the money to blow on the apartment. Plus the min you can make to have a 4K/month apartment in NYC is 160k and they’re meeting that at the bare minimum

[@YZsTravelAdventures]

Also take off federal, state and NYC city taxes and you're not so rich anymore.

[@teenytinytoons]

@@cre8tion26 they're easily at $300k combined.

[@surajsameersuraj]

She seems a very likable person...

[@MR-kt2zv]

The plus side of the pandemic: they're getting their money's worth being there more than they would. The con: they're WFH in this pricey apartment, which suggests they don't exactly need to be in the locale for work purposes. But hey, they are two bright, financially comfortable people so they know what they're doing

[@gr3vis]

Paid a 7200 brokers fee for a 4000 per month coop? The best is to go to a managed full service no fee building and at that price point there are plenty to choose from. Chamon LEE!

[@aminat643]

Can’t wait to see Graham react to this one!

[@tracy_cakkes]

Me too!

[@ALXSSA]

@Adam A. yeah but even if i made $250k a year, i am not paying $3,800 a month for a one bedroom with no parking lol with a $15k fee. You still have to be wise with what you are buying, affordability sometimes doesn't matter, you have to make sound decisions.

[@harshitkapoor7881]

@@ALXSSA I make 300 dollar a month

[@harshitkapoor7881]

@@TheFinanciallySavvyGirly I make 300 dollar a month 😭😭😭

[@shantralarharris2893]

Same

[@nanox25x]

Being so close to everything that is closed. Totally worth it....

[@alexkarthik1064]

not close anymore lol

[@SaceedAbul]

Data scientist and married. 3800 is like 40 bucks to them. Chill comments chill

[@brittanyb5942]

Exactly!

[@jeffghant4760]

7:55- No it isn't. She clearly has some regrets.

[@banshee1133]

And her husband is a lawyer

[@MK-hh1vo]

Even if they can afford to waste money it's stil painful to watch.

[@jeffghant4760]

@Wings_of_Death True.

[@willdatrill18]

She’s living my life 🥺

[@sweetsuite498]

"We have a bookshelf with all of our books..." She said that like that's the only thing they get to leave with if things go belly up!

[@laineyjacob9565]

So many negatives! They don’t drive, they work and cook at home, they save a lot. She’s a data scientist at 26 years old, she alone earns 9k-10k per month. They can afford to live really well with her salary, and still invest and save plenty with her husband’s income. And just because they can purchase a mansion in Texas doesn’t mean they want to live there. They’re a young couple with high paying jobs, and it seem like they just move to New York, probably will move again in the future, so renting make sense.

[@RichAction]

That broker fee was ridiculous im sorry that happened to y'all. However as long as yall are happy that's what matters 👍

[@yueyue7514]

‘Mmm she negotiated the rental from $4,000 to $3,800 I feel like she could a lower it a bit more cos of the pandemic...

[@creatingcreatvt]

They might as well get a house and pay a mortgage 😩

[@tracy_cakkes]

Great video CNBC! They seemed really nice Thanks for doing these 🙏🧡

[@olatundefadahunsi3981]

Will never understand the obsession of living in New York. Can't say I've ever cared to live in New York. There's too many nearby states where you can own property and commute to New York that this honestly can't be rationalized.

[@TinaLeder]

*Me Living in LA:* " *$3,800!?* Why would anyone live in NYC!?" 😱😱😱 *Also Me:* Happily paying $1,400 for a small studio.😳 But seriously, seeing these *$3,800* For *RENT* in *NYC* makes me feel like I'm saving so much money on rent and I'm here for it.😂😂😂

[@tracy_cakkes]

Same $1,300 in Seattle lol but moving in with roommates so will be less than $1k/ month

[@davidchandler6885]

@@tracy_cakkes donnnt do it

[@TinaLeder]

@@tracy_cakkes Oh wow had no idea Seattle was like that too lol

[@harshitkapoor7881]

@@TinaLeder I make 300 dollar a month 😂😭😭😭

[@chrisjacklee3670]

They both make 200k+, it’s definitely within their budget and still allows them to save a lot.

[@darkhorse99900]

Actually having natural light hitting your home does save you money because it warms your house up in cold weather ** edit 16 likes let’s get this thang goin!!!! Wooo

[@swicheroo1]

They seem like a nice couple, with a good head on their shoulders. As an Angeleno--and a landlord--I am blown away by the added costs of rental. I never had to deal with craziness when I lived in New York--no broker's fee, no interview. I lived in Williamsburg but relied heavily on my New Yorker Ivy League friends to get me situated. Anyway, I'm sure they'll do amazing in life!

[@M4NA5]

Her total upfront amount of ~$15k is my annual rent for a similarly sized apartment here in Addison TX.

[@melissadassrath139]

Love this!

[@TritoneTrickster]

I know they are probably making BANK but 3,800 for a 1 bed??? Absolutely could not be me. Nope. Good luck to them, no hate lol

[@Gunngirl]

I agree, but then again, when paying $3800 is like paying $700 for someone else, then you are okay because you're not struggling to make rent.

[@TritoneTrickster]

@@Gunngirl very true!!!

[@Thepippinator2]

As a single person, finding a one bedroom can be a pain because couples will always drive up the cost.

[@oranged6703]

Share with a roommate You can have more than one roommate 🤐

[@venom5809]

LOL the people that don't understand how NYC real estate works. 😂 He will be billing $500 an hour soon enough and she will be a VP and they will be buying big dog places soon enough. Their apartment is beautiful. Their patience and hard work will pay off.

[@alisonm3700]

They came short of selling their livers to prove they were worthy of occupying the apartment??

[@24hourcar]

Ny Broker: ... and there is also a brokers fee... Me: wait what?! A brokers fee?! Broker: Yep! Welcome to the Big Apple! Also Broker: U mad bro? Me: Hung up then moved to Miami

[@24hourcar]

@escalate 100 what you mean?

[@veronicacure4200]

I moved out of nyc last year. I had a 2 bedroom beautiful apartment in Ditmas Park for $1600. I now have an even bigger 2 bedroom luxury apartment with 2 car parking for $900 in Pittsburgh. I loved my 9 years in nyc but watching all my favorite places close down and the trains run inconsistent, it became such a struggle. Especially in winter. So I was spending a ton of money to live uncomfortably. I asked for a transfer and honestly I don’t miss it. With my apartment, my car, my insurance and bills I’m still paying $180 less than I did with just my apartment.

[@symoneh.]

Her husband wasn’t gonna stop working for nobody 🤣🤣🤣

[@harshitkapoor7881]

Which country are u from

[@everythingella4575]

*2:10* Natural light does save money on the electricity bill though since you wouldn’t need to turn on as many lights or lamps.

[@harshitkapoor7881]

Which country are u from

[@techguy921]

They moved in 2019 that’s why it’s 3800 and the price is locked. but now there are 16000 empty apps in the city and the prices are went 30% down. Also why not to use streeteasy for no broker fees apts?

[@darrenandelaine2918]

Love the Keller book and the verses on the wall.

[@CalebOliver]

I'm glad they like their apartment. I would not want to pay almost $4,000 to live in a NYC apartment. I don't think it's worth it, but to each their own. 😊

[@Kennypeagler]

Ive bought and rented a lot of places in Manhattan and I have never liked "brokers". They tried to legislate against it as anywhere else, it would be considered predatory. They tried to pass that cost to the owner and that didnt go well either. $7k and she found the place herself.

[@abcdLeeXY]

I mean I've made some terrible financial decisions but man this is just painful to watch

[@marginelouis6674]

it's only terrible if they're income doesn't support it

[@WithSandra]

Of course she’s a data scientist 😆 lovee this!

[@harshitkapoor7881]

Which country are u from

[@vivistoller]

I guess my biggest question is why not buy? Given their income it makes no sense to rent.

[@ThePineappleexpo]

Because the apartments they would like to buy is probably over $2 million in Manhattan. Yes they can purchase < $1 million now probably easily, but given their professions, do you think they want to settle for something < $1 million in Manhattan? Also maybe they aren't sure whether they want to stay in NYC long-term, renting gives you the flexibility.

[@MK-hh1vo]

Some just don't want the hassle of owning property. You'll always have to pay property tax which is like rent plus you have to pay for proprety upkeep and hope you can sell it for a profit in the future. Owning a home is not the free ride people think it is.

[@tpark89]

I'm a New Yorker and this just reaffirmed my belief that living in Manhattan is a huge waste of money. $15,000 to start? That's half of a down payment on a small condo lol

[@j.c.8595]

There's no way I'm paying $3800 a month for an apartment. Towards my house...YES!

[@davidmilhouscarter8198]

According to the measurements on the floor plan, the apartment is about 490 sq ft. That means she's paying $7.75 per square foot.

[@bunnie1294]

Just looked up Gramercy Park real estate and they can buy a one bedroom apartment for 700k. Their monthly payment including mortgage, homeowner's insurance, and property taxes will be less than $3800. Don't understand why they are renting.

[@trannhubangLORI]

A data scientist and a lawyer? what a power couple!

[@SummeRain783]

I love how the husband is still working in the background while they’re filming all this lol

[@noobERNS_it]

Dad: Ayo who ya friend there Me: he justahomie

[@colorfulcodes]

lol.