Campus

City Living, real estate trends

Roommates

Is this the dorm-itization of NYC? via 20071110_0213 via photopin (license)

With shared office spaces like WeWork taking the city by storm, it’s no surprise that the residential real estate community is looking to get in on the commune-style action, especially considering the city’s push for micro housing.

The Daily News reports on “communal living hubs with micro-apartments for young professionals,” calling it the “dorm-itization of New York City.” Instead of traditional one-year leases, these new setups are offering month-to-month contracts where tenants came rent a room at the snap of a finger and move out just as easily. They can also freely apartment hop between buildings of the same owner. In theory, it sounds great for first-time New Yorkers, fresh-out-of-college twenty-somethings, and just about anyone with an uncertainly factor to their lives. But the News notes that a standard, five-bedroom micro apartment community has a lease of about $10,000/month, meaning that the modern nomads renting out rooms are still paying roughly $2,000/month, pretty steep for a single bedroom in a unit shared with a stranger.

Find out more about the new real estate trend

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