This is not a bad idea. When I was young and working in New York, all I needed was a bed, bathroom and very small kitchen area. I was rarely in the apartment. Of course, they’ll find a way to charge a fortune for these too.
Young people can live anywhere. And if they love NY, they’ll certainly like these little apartments. I have a small apartment in “Curry Hill” in Manhattan. It looks like a doll’s house with a miniature fridge and stove. So cute.
The two things that stuck in my mind were:
1.) A galley kitchen in an expensive unit. The Trump lackey said the people that could afford the unit wouldn't need a "real kitchen" because they would be eating out most of the time, (hitting all the trendy restaurants...)
2.) The RE taxes at the time were $20K.
I’m a landlord with units in Queens. I specialize in studios with about 420 SF each. I get $1200/mo for them - each. I could get more but I have good tenants in them now and that’s worth discounting by ten or fifteen percent.