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"I'm paying $1200 for a one bedroom in the East Village, 12th street and 1st Avenue. It's a rental in a condominum w/o a doorman. Its a nice clean building. I used ACRIS to find out the financials of the property, and then I negotiated hard, negotiating a rent that will just barely cover the monthly mortgage. The owner had no choice... the property was on the market, didn't sell, then got on the market as a rental. I used other online tools to find that out. All of this just shows the owner's desperation to cover his mortgage." [Curbed Roundtable: February State O' The (Rental) Market]