Rents in New York are notoriously expensive, but they also depend on the district in which you live. Here are 13 mind-blowing facts that show how expensive New York City really is. Read on for 13 revealing facts and statistics that show that the city is expensive. Billionaire hedge fund manager Ken Griffin bought the three-story, 23,000 square foot penthouse in a skyscraper at 220 Central Park South, Business Insider's Katie Warren reported, citing The Wall Street Journal.
The average size of an apartment in Manhattan, New York, is 702 square feet, but this number varies greatly depending on the type of unit, with cheap and luxurious alternatives for both homes and apartments. Renting an apartment in the Big Apple hasn't been easy this year, and prices have seen the biggest increase in a decade. In fact, many Manhattanites moved to Brooklyn over the past year, hoping to find larger apartments that offered more amenities, including outdoor spaces. According to a new report, one-bedroom and studio apartments aren't the only ones that were severely affected.
Studio apartments are the smallest and most affordable, one-bedroom apartments are closer to average, while 2- and 3-bedroom apartments offer a more generous floor space. While there's strength in numbers and renting with roommates is certainly cheaper than going alone, those looking for a cheap two-bedroom apartment in the Big Apple might be disappointed.