345 East 54th Street #6B, a 250-square-foot studio in Midtown East (Compass)
In the late 2010s, some speculated that micro-apartments were the way of the future of New York City. To that end, a collection of new buildings were constructed with apartments containing furniture right out of Transformers and unique built-ins to allow for storage space. To compensate for the lack of square footage, these buildings typically offered a number of residential amenities. However, some of the shine wore off during the pandemic — common spaces in all types of buildings were closed to slow the spread, and trying to live, work, exercise, and relax in a tiny apartment got old fast. None of the mayoral candidates suggested micro-apartments as a solution to the housing crisis; and, in the wake of the lockdown, regular-sized studios began to incorporate the kinds of modular furniture typically found in micro-apartments.
These days, lack of inventory is dominating the headlines more so than micro-apartments. Scarcity is driving prices up and causing people who wish to stay in New York to hold onto the apartments they have. Because of that, Jonathan Miller says that the market is accelerating as opposed to stabilizing, as some predicted and hoped would start to happen by this point in the year.
In this article:
CityRealty listings show only 4,199 apartments for rent throughout New York City and 9,526 apartments for sale. These are startling figures, and an even more starting report found that New York has more Airbnb listings than apartments for rent. Some have accused Airbnb of contributing to the affordable housing crisis by depleting housing stock in an already inventory-deprived area; the company counters that they act as a source of extra income that allows residents of expensive cities to stay there. Either way, a quick look at Airbnb found a number of rooms and apartments listed for a fraction of what a night in a semi-decent hotel would cost.
While city regulations typically do not allow apartments smaller than 400 square feet, Spaces noted that these restrictions were waived at the height of the micro-apartment trend…and a look at New York City studios shows that smaller apartments nevertheless exist in standard buildings. These apartments are perhaps best suited for pied-a-terres, and it’s hard not to wonder how much an owner could conceivably earn using them as Airbnbs when they’re not using the apartment.
4612 Sixth Avenue, #8 (Garfield Realty Corp.)
↓ As per the listing copy, #8 is one of only two units in the entire building with this highly unique floor plan.
↓ Almost immediately upon entry, we see that the windowed bath has recently been renovated.
↓ Not one but two southwest-facing windows fill every square inch of this home with natural light.
↓ The kitchenette has recently been updated.
↓ A built-in Murphy bed means one less thing to shop for before moving in.
The Lex 54 Condominium, #MR4
↓ Upon entering through a grand, approximately four-foot foyer, one is immediately stunned by this apartment.
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↓ Interiors boast beamed ceilings, worn parquet floors, and pampering features like electricity and running water.
↓ No danger of this closet leading to a Narnia-like secret world.
↓ Breakfast in bed can be a daily ritual with the Pullman kitchen about two steps from the sleeping area.
↓ The one window faces north.
345 East 54th Street, #6B (Compass)
↓ Upon arrival, one can see every detail of this newly renovated, top-floor apartment.
↓ Step right into the tastefully appointed bath.
↓ A key component of the renovation was the addition of a double-wide closet (seen on the left).
↓ An updated kitchen with full-sized stainless steel appliances and oversized peninsula opens right up to the rest of the home.
↓ "The remainder of the apartment offers the right amount of space for living and sleeping"...as defined by whom?
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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