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They had no idea what rents were, so $1,800 a month seemed reasonable.
And although he would not specify what rents he charges, he said most properties in the village go for about $20 a square foot a year -- several dollars a square foot higher than two years ago.
The gap between what benefits will pay for, and what rents cost, has grown so large that in many places only about a 10th of homes in the private rented sector are within reach.
That came from running their numbers with Airbnb rentals set to zero instead of the actual tens of thousands of listings and seeing what rents would be in that alternative universe.
Similar(52)
Mr. Marciano would not say what rent the company was paying.
In most places the market dictates what rent you will pay, but that is not always the case in New York.
"I didn't want to taint my ideas about what 'Rent' and 'Aida' were about".
The New York City Housing Authority, with 400,000 residents the city's largest landlord by far, says it will decide what rent to charge tenants case by case.
"That's what 'Rent' is all about, is community," he said, adding that his son would approve.
"It helps us determine what rent to ask, the amount of free rent to offer and the amount of tenant improvement.
The asking rent for the building was $16 to $18 a square foot annually, but neither Philip Morris nor the university would say what rent the company is paying.
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CEO of Professional Science Editing for Scientists @ prosciediting.com