It was one of the more unique deals in recent memory, but a real estate agent at an office building in Brooklyn had to make some tough decisions.
If she were to rent out the space for $7,400 a month, would it be worth the hassle?
Or would she be better off renting out a more traditional office, where she could charge a monthly rent of $2,000?
A deal like this was on offer to the real estate broker, who was willing to go the extra mile to secure a tenant, the New York Times reports.
She paid the agent $7 million upfront, and over time the deal has been used to lure some of the city’s most prominent real estate agents.
“It’s a great way to grow your business, but you’re not going to make as much money as you would if you had rented out the building,” said the broker, in an interview with the Times.
When the broker first signed on, the average rent in the city was around $1,000 a month.
Now, the rent is as high as $3,000, according to the Times, and rents in Brooklyn are rising even faster.
So, what’s going on?
Some people might be saying it’s all about the rent, but it’s not that simple.
There are several factors to consider, including the number of people renting in the area and the size of the market.
As more people flock to New York City, rents will increase.
While rents in the Bay Area have been relatively stable since 2009, rents in Manhattan have exploded, with the average apartment costing $2.5 million in the last five years.
And even if you manage to find an apartment that costs less than the average in your neighborhood, it’s still not a freebie.
The broker was able to secure the tenant because she was able to get a “very good deal” on the rent.
For the realtor, it can be hard to predict exactly what the average rents in your area will be in the future.
But a recent survey by the New Orleans-based firm Demographia showed that the average cost of a two-bedroom apartment in Manhattan is now $2 million.
According to the survey, the median income for New Yorkers is $50,000.
With the growing number of tenants, it seems that rents are rising quickly.
This story has been updated to reflect that the broker charged the agent, not the agent alone.