Insane $1,300/month “Rent-Stabilized” New York City Apartment
29-year-old Hattie Kolp is living the dream of so many New Yorkers. She lives in a grand two-bedroom 1,500 square foot pre-war apartment and only pays $1,300/month. If you're not familiar with Manhattan real estate prices, $1,300/month would most likely get you a dark, teeny-tiny studio apartment with a view of a brick wall and no natural light. So how is Hattie's lucky situation possible, you might ask? According to her, the apartment is "rent-stabilized." It's a complicated real estate term but essentially landlords can only increase rent a certain percent. Hattie, who is a special education teacher in Harlem, grew up in this 1890s Upper West Side apartment with her parents and when her parents moved out, they put the lease in her name. Over the past three years she has worked tirelessly to update and transform her childhood home--and it's stunning!