When Aliana Randazzo, 25, and JR Wills, 27, were planning to move to New York, they both fell in love with micro studios in midtown Manhattan.
Randazzo found his rent-stabilized 80×150 sf micro-studio on StreetEasy and moved into the space in August 2021. The rent was $650 per month.
Randazzo’s initial move-in fee was $1,950 and included broker fees, security deposit and first month’s rent.
Before moving into the micro apartment, the fashion campaign planner and content creator lived in a luxurious high-rise and paid $2,000 a month in rent. He soon realized it wasn’t worth it because he was never home.
“I wanted to pay less for rent so I could travel more and live more,” Randazzo told CNBC Make It.
“Living in this place has been quite an adventure. It’s good because I was in Manhattan, so I didn’t miss a thing,” he added.
But as much as he enjoyed living in his small downtown apartment, Randazzo found himself in a creative rut because he didn’t have enough space to create content.
He has since moved into a $6,750-a-month townhouse in the East Village with four other roommates.
Although he now pays $1,350 a month to live in a single room, Randazzo says he needed the extra space to continue growing his business.
“That big bed is definitely my favorite part of the room and this time I have a window, so I’m very happy,” he says. “I don’t even know what to do with all this space.”
Like Randazzo, Wills found his micro apartment on StreetEasy.
The 27-year-old Starbucks Reserve Roastery barista trainer moved into his 85-square-foot space in February 2022 and pays $687 a month for what he tells CNBC Make It is his “rent-stabilized shoebox.” .
Wills’ initial costs for his move were $2,874: $1,500 brokerage fees, $687 for the first month’s rent, and $687 for the last month’s rent.
“I wasn’t really looking for a particular microstudio, but I saw the space. I liked it, so I jumped on it,” says Wills. “I walked into the space for the first time. I saw the window. There was so much natural light everywhere. I knew it was for me.”
Along with all the natural light in her apartment, Wills says she likes the location because it’s convenient for getting around town.
“I love how accessible my neighborhood is. I can get anywhere super fast, super fast,” he added.
While some might say they couldn’t imagine living in such a small space, Wills recommends it to everyone because it makes you appreciate the things you have so much more.
“I have a lot more money to spend on going out on the town, going out and eating with friends if I feel like it. It’s $687 versus $2,000. So that opens up the city for me, I think” , Wills added.
Those same friends always ask Wills how long he’ll be living in the apartment, and right now he says he doesn’t see himself leaving any time soon.
“I tell them all the time I want. I’m very comfortable here. I’m saving a lot of money. It’s rent stabilized, so why should I move? I’m probably in the best place in the world,” says Sera.
“If you change the way you look at things, the things you look at start to change, so I choose to live in positivity. I’m having a good time.”
This article was originally published in English by Celia Fernandez for our sister network CNBC.com. To learn more about CNBC, enter here.