NYC
04/19/2011 05:23 pm ET | Updated Jun 19, 2011

Rent-Controlled Apt In West Village Is Only $127 A Month

Perhaps for every woman on the Upper West Side paying way too much for a 90 square foot apartment, there's someone in the West Village paying next to nothing for a beautiful, spacious pad.

Curbed has the scoop:

According to Massey Knakal, the rent-stabilized tenant up on five is paying $615 per month. Sound like a bargain for prime West Village real estate? Then we hope you're sitting down, because the tenant on the fourth floor is under the more strict protection of rent control, and this person is paying $127 on the first of every month. These apartments, by the way, are both just over 1,000 square feet.

$127! $127. That's like one unlimited Metrocard and a sandwich.

The historic building that houses the two apartments, an old 25' wide Federal-style townhouse at 59 Morton Street, is on sale for $6.5 million.

Massey Knakal, the company selling the property, eggs on potential buyers by suggesting the cheap tenants could be bought out. In their listing it reads, "If vacated, the property could have tremendous potential for a single family conversion," (read: get rid of the people paying nothing and then charge new tenants a ton of money) and for such a large investment, it's a suggestion that makes sense.

Though as much as we hate the fourth and fifth floor residents (out of insane jealousy) we know a fairy tale when we hear one, and in some magnanimous part of our heart, we hope they can hold onto that property as long as they can. Or forfeit it to us for the same price.

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