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New York City wears the crown of the world’s financial capital. It is the land of dreams and people from all over the world wish to settle there. However, the perks of living in New York City ask you to trade off space since living in NY is expensive and more space means a larger cut from your earnings. Living in NYC means downsizing. If you are short on budget or do not have stable cash flow, you shall look for a smaller home to manage living for yourself in the city.
But the question arises that how small an apartment should be so that it doesn’t suffocate the living. Is there any guidance in the law for the minimum standard of the apartment? You would certainly want to feel homely first before trying to cut a few dollars from the rent.
To educate you on this, we have gone through the laws and trends on the size of a one-bedroom apartment. The following are our findings.
Since 2000, according to different studies, the average size of a unit worth living in NYC remained 866 square feet. In the same breath, it was seen that the majority of the units in markets like New York are under 700 square feet in size. There is no minimum restriction on the size of the apartment.
A project initiated by the department of city planning established the quality housing program. The intentions behind it were to appreciate the construction of new apartments that were comfortable and secure. One prime step they undertook was to stop the building of apartments that do not meet the standard of 400 square feet in size.
Up until 2013, the law was still enforced but developers were asked to show designs of micro-apartments that could be smaller in size in the tenure of Mayor Bloomberg. In the pursuit, of winning, design Carmel place was given a construction signal which constructed 55 rental units less than 360 square feet. It proved a successful project in the history of New York. As a result of this, laws were eased off about the restriction of 400 ft sq, and apartments with less than 400 ft sq were appreciated as well.
What it tells us is that majority of the people in New York do not bother much about apartment size in general. However, the question to ponder here is if you are comfortable living in that space. It becomes tougher when you shift from a more spacious place.
Our chief observation from housing laws and studies is that many New Yorkers are adopting new ways to reside with less space. The question to ponder over is how is it becoming possible.
According to the law, a bedroom must satisfy the following requirements to be considered legal in NYC:
NY Rent Own Sell is the leading player in the real estate market of New York City. They have been dealing in all kinds of properties such as condos, apartments, commercial properties, and vocational rentals. In addition to them, they provide all kinds of services from finding a property to striking a deal. The highly equipped staff of expert agents and tech-savvy IT personnel team up to provide the best services along with a pleasant experience.
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We have come to the conclusion that smart design in less space is in vogue. People are less worried about the available indoor space as long as the outdoor facilities are making life convenient. Besides, the asking rates for the properties keep increasing smart design with enough space are really is the future of modern cities.