June 16, 2025 • 39 mins
In episode sixteen of The Rent-ish Pod, Zach and Patrick dive deep into the latest Real News, spotlighting the Cincinnati rental market’s explosive growth. Find out why Cincinnati is now tied with the Chicago rental market as the toughest spot for Midwest renters—and why it’s become the second most sought-after city nationwide. The guys unpack what’s fueling Cincinnati’s rise, what this means for landlords, and whether it signals opportunity or caution for both property owners and renters. Don’t miss this essential breakdown for anyone watching the rental market! 👉 Read the article: Cincinnati ranked...
Then, buckle up for a wild ride in this week’s Proptology, as the hosts examine the stunning and surreal saga of 1 Seaport, the luxury Manhattan skyscraper now famously known as The Leaning Tower of New York. From engineering missteps to lawsuits and public embarrassment, it’s a cautionary tale of ambition tilting too far.
👉 Dive deeper here: The Leaning Tower of New York – The New Yorker
📩 Have a question, hot take, or real estate horror story? Email us at questions@therentishpod.com, and you might hear it on the show!
Check Innago at https://innago.com/podcast/ to learn more.
Sponsors:
Innago is a free, online property management software designed for landlords, particularly those managing small to medium-sized portfolios. It offers a range of features to simplify tasks like rent collection, lease management, maintenance requests, and tenant screening.
Ledgre is an All-in-One Accounting Software Built for Rentals. Organize property transactions, track expenses, and automate rental accounting with simple software focused on your industry.
Cohorts where serious real estate leaders level up. Join a curated peer group of founders, principals, and GPs who meet monthly in small, high-value circles. No fluff—just real insights, real accountability, and direct access to people who’ve done it before.
Follow us on Instagram
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_01 (00:00):
What's going on, everybody?
Welcome to the Rentish Podcast.
My name is Zach, and I'm herewith my co-host, Patrick.
What up?
We are your hosts for thislittle podcast about rental
properties, kind of, but hostedby two guys that work in the
real estate industry and sort ofknow what they're talking about.
Going off script there a littlebit.
(00:21):
Yep.
It's time.
We're changing it up.
I can't say the same thing overand over again or else it's
going to get tired.
Yeah.
But mostly we don't, Patrick.
That's right.
So this is why you'll have fun.
You're putting words into mymouth.
No.
You said it.
I don't want to say that, Zach.
I heard you say it.
Literally, I just heard you saythat in my brain.
I want to speak for myself.
That's how tired I am.
I heard you just say that in mybrain.
Yeah.
All right.
Yes, Patrick, mostly we don't,which is why you'll have fun
(00:42):
hearing us talk to experts andlearning with us or laughing and
yelling along at how little weknow along the way.
Patrick, how's your day going?
Yeah, it's going good.
Just good?
That's it?
That's all you got for me?
It's going great, Zach.
Well, you want to elaborate?
Why is it good?
Yeah, it's fine, actually.
Oh, it's just fine?
It went from good to great tofine.
It's not so great.
Okay, I'm sorry.
No, yeah, it's 513 Day.
(01:04):
Happy 513 Day.
Happy 513 Day to you.
For all those that don't know,oh, sorry, Rentish Podcast.
Follow the Rentish on socialmedia.
We're on Instagram now.
RentishPod.
The RentishPod.
I think it's The Rentish Pod.
So yeah, follow us on Instagram.
Is there a hyphen?
No, The Rentish Pod is theusername.
Rent-ish.
The Rentish Pod.
Yeah, but is there a hyphen?
(01:24):
No hyphen, no hyphen.
All one word.
The Rentish Pod.
Got it.
No hyphen.
Follow us on the social media.
You can go to The Rentish onbasically any podcast service
out there.
Spotify Podcasts, ApplePodcasts, whatever they're
called.
You know, the things.
They're on there.
Amazon Music.
We're on Amazon Music too.
So you can go check us out onbasically all.
Is it Amazon Music?
Yeah, it is.
(01:45):
Yep, that's a thing.
And wouldn't lie to you, Ipromise.
And you can go to all thosedifferent websites to check us
out and give us a review and arating while you're there.
We would really appreciate it.
And email questions attherentishpod.com 513-DAY.
For those of you that don'tknow, we record this podcast
from Cincinnati, Ohio, which iswhere our office is, but it's
(02:06):
also where the podcast studiois.
Cincinnati, Ohio famously, for avery long time, had a 513 area
code.
So if you got a It still does,what?
No, so they started hittingcapacity a year or two ago.
So new people are getting like,what is it, 9, 6, 7 or something
like that?
Is that the Dayton one?
I don't know if it'sspecifically in other counties
(02:28):
in general or if they justgenerated a new area
SPEAKER_02 (02:30):
code.
SPEAKER_01 (02:31):
But for a long, long, long, long, long time,
basically since forever...
since the origin of cell phones,Cincinnati had been 5-1-3.
So today is May 13th, 5-1-3,Cincinnati Day.
Right.
I'm celebrating.
I'm going to Cincinnati Redsbaseball game.
It's$1 a dog night or$2 a dognight or whatever.
(02:51):
Oh, that's awesome.
They were playing the White Soxtonight, right, I think?
Dude, I have no idea.
You got that pitching rotationlined up?
I am there for the hot dogs.
Just there for the dogs.
You don't care about the game.
I don't care about the game.
I like the baseball environment.
I don't care about the sport atall.
Probably halfway through thegame, I win.
and know who we're playing.
Sure.
Well, when you go, so you'regoing to a Reds game, Great
American Ballpark, one of myfavorite ballparks in the United
(03:11):
States of these Americas.
So you're going to get just ahot dog.
You're going to get a Coney.
No, I'm going to get like three.
Are you going to get a Coney orare you going to get a hot dog?
Dude, we're going to see when weget there.
I didn't know there's Coneyoptions.
Well, yeah.
I mean, like when I go to a Redsgame, the first thing I think of
is I want a slice of the Rose'spizza and a Skyline Coney.
This is my first Reds game ever.
(03:32):
Are you serious?
I'm not kidding.
I've been to a Guardians game.
Well, hopefully the weatherholds up for you.
It's raining out there rightnow.
Hopefully they don't delay it.
Do baseball games get rainedout?
Yes, they do.
They'll be on a weather delay.
They'll either delay the startor they'll roll it.
What I've always wanted tohappen in my entire life, never
happened to me before.
I've always wanted to go to agame that got a rain delay and
got delayed to the next daybecause then your ticket carries
(03:54):
over.
And then the next day, they justplay two games back to back in a
doubleheader.
And I've never been to adoubleheader ever.
It could happen today.
Could happen today.
But then you'd have to call offwork tomorrow maybe to go to.
Yeah, I'm not.
Yeah, I mean.
So.
Oh, I am off tomorrow, but Ihave plans in the evening.
Oh, okay.
Well, hopefully it doesn't getrained out and you get to enjoy
your baseball game.
This is the hope.
This is the hope.
This is the hope.
(04:15):
But yeah, Cincinnati Day.
Happy Cincinnati Day.
We got a very fun Cincinnatiarticle to talk to everybody
about with on the show, and thenPatrick is going to do a little
bit of proptology, and we'regoing to learn about the Leaning
Tower of New York.
I, myself, will be celebrating513 Day, most likely by getting
some kind of Cincinnati chili.
Shout out to Camp WashingtonChili, my favorite chili parlor
(04:35):
in the Cincinnati.
No way it's better than Skyline.
Top two.
I'm sorry.
Top of the best.
Yep.
Okay.
Skyline's like the fifth orsixth best.
I hear the words you're saying,and I respect that you have an
opinion.
You're just dang wrong.
All right.
We're going to talk in the news.
Real news.
Real estate news.
Remember, it's R-E-A-L.
Real news.
No.
(04:55):
What?
Real.
R-E-A-L.
Now, you just said R-E-E-L.
No.
Real.
I'm just trying to trip you up.
What?
I got you.
We're going to talk about thenews, the real estate news, the
news that you need to knowabout.
Title, Cincinnati He tied itwith Chicago as the, I didn't
need to read the title part, butI just went ahead and did it
anyway.
Thanks for saying, I'm just notgoing to skip that part.
(05:16):
We should call the segment newsreal, but R E A L instead of
news real, you know, but that'swhat, that's what we did.
We called it real news.
But nobody says like a real,like it's newsreel.
Newsreel.
You know, it's like, I neverunderstood the real news thing.
I just thought it was like aterrible.
Real estate.
Yeah, right.
No, I get that.
But like newsreel is like,that's like a play on words
(05:38):
because it's like newsreel, butit's newsreel because it's real
estate.
Okay.
From henceforth, that shall beknown.
Retitle the segment.
Newsreel.
Newsreel.
That's it.
All right.
Welcome to your first episode ofNewsreel.
Cincinnati is tied with Chicagoas the toughest rental market in
the Midwest.
Finding an apartment in theCincinnati metro area has become
increasingly difficult.
(05:59):
A new report from Rent Cafereveals that in early 2025,
Cincinnati was tied withsuburban Chicago as the most
competitive rental market in theMidwest, with 10 renters vying
for every available unit.
Only Miami and Los Angelesranked higher nationwide,
placing Cincinnati third for themost applicants per apartment in
February based on data fromYardie Matrix.
(06:21):
That's crazy.
Crazy stuff, Pat.
I'm going to read a littlearticle here from the Cincinnati
Inquirer.
Patrick, did you read thearticle?
No, it's not even on the sheet.
No, it's on the very top.
Wait, no, obviously I didn'tread the article.
Oh, okay, got it.
Well, I'm going to recap just alittle bit of it for you here.
With 10 renters competing forevery vacant apartment, the
Cincinnati metro area was tiedwith suburban Chicago as the
(06:43):
toughest market for apartmenthunters in the Midwest in early
2025, according to a new reportfrom Rent Cafe.
Nationwide, the Cincinnati areatrailed only red-hot rental
markets in Miami and Los Angelesfor the most applicants per
available unit in February,according to Rent Cafe's
analysis of data provided byMarketTrack or Yardie Matrix.
This was already all covered,but I'm just restating the
information that was in thearticle.
But here's new.
(07:04):
This is new right here, thisblurb.
At the same time, a shrinkingsupply of available apartments
helped push the median askingprice for all apartments in the
Cincinnati area up 15% to$1,420compared to February a year ago,
according to a separate reportfrom national real estate broker
Dreadfin.
So price is going up.
Price is going up.
Price is going up.
(07:24):
I was asked yesterday about,because I lived in Mount Adams'
new neighborhood in Cincinnati.
Wow.
I forgot about that.
That feels like forever ago.
It does feel like forever ago.
Just about two years ago.
Yeah.
A little bit more.
But anyways, I had a$700apartment and so then I was-
That's crazy.
Yeah, crazy.
For reference, it was not like ashared apartment either.
(07:45):
It was a single apartment.
It was like basically a onebedroom.
It was kind of like, it was agarden unit.
It was like slightly in thebasement.
I still had a little bit ofwindow.
Yeah, not that y'all are curiousat all, but for those listening
at home, just go to Zillow andsearch Mount Adams, Cincinnati
and just look look at the pricesthere for an apartment.
And Patrick, you'll realize thatPatrick was just robbing this
company.
Yeah, well, it wasn't a company,because he asked, like, what
(08:05):
building was it?
And I was like, it wasn't reallya building.
It was Bob's basement,basically.
Bob's basement.
My landlord, Bob, had a basementunit, and he, I guess, didn't,
like, hear about inflation orwhatever.
I don't know if I would signwith that real estate company.
It's like, well, Bob's basement.
Apartment's in Bob's basement.
So you got lucky, but it's notnecessarily going to be very
(08:27):
lucky for people right now.
Oh, correct.
I'm just rubbing it in.
Yeah.
High demand, limitedavailability means that renters
are going to be forced to actfast and stretch their budgets
to land an apartment inCincinnati area where the
occupancy rate hovers above 94%,according to rent cafe, which is
a crazy number.
I mean, I'm, I'm guessing thatmeans that 94% of places that
(08:47):
are livable are lived in areoccupied.
That is nuts.
Occupancy.
Yeah.
So you're basically, you'rebasically just gambling on that
6% to like try and figure outwhere you're I don't know.
They keep searching.
(09:12):
Yeah.
Keep searching until you findsome.
So Cincinnati is the second mostsought after city for renters
nationwide based on rent cafesengagement data, which includes
page views, saves and favorites.
Cincinnati ranks just behindWashington, D.C., which is not
not the number one pick that Iwould have predicted.
I'm a bit confused.
So like like is this in terms ofof numbers like per capita?
(09:36):
Because like there's no way thatCincinnati gets more engagement
purely numbers wise than likeNew York.
It just doesn't seem possible.
Yeah, I don't know.
Producers, do we have any statson it?
You're the man with the article.
I'm the man with the article.
You read the article, dude.
This is just what they say.
They say that Cincinnati issecond behind Washington, D.C.
(09:56):
Okay.
Yeah, that's interesting.
This is just according to rentcafe engagement data.
So there could be many otherfactors contributing to this.
We don't know exactly.
I'm sure they calculate the datain some sort of way to come up
with the most sought-afterquote-unquote city Yeah, just
based purely on apartment views.
It had the most apartment viewsin the country.
(10:19):
So I wonder if Cincinnati isbecoming a major investment hub
for people who don't live inCincinnati, maybe aren't
necessarily- They're justlooking to maybe invest in
Cincinnati.
Do you think that could havesomething to do with it?
I don't know, Patrick.
You might have just answered oneof the Q&As there at the bottom
of the sheet that you said youdidn't read.
Oh, I didn't.
I guess I...
(10:40):
That's a great question, and I'mgoing to spoil it and say yes.
I think that it does mean thatCincinnati is becoming a very
highly sought-after investormarket.
Let me check the bottom of thesheet.
While you're checking that,another really fun...
Well, fun.
Call it whatever you want.
Hey, we're trying to make realestate fun.
Blend the comedy...
This is another trivia fact fromthe website.
(11:01):
It says average time forapartments to be rented in
Cincinnati has increasedslightly from 38 to 42 days.
No way.
I'm sorry.
Offering a small cushion.
They fly on and off the market.
There's no way.
Like that Mount Adams apartment,I visited it one day.
and had the apartment the nextday.
Yeah, it's interesting.
Most of the apartments that I'veever gotten are places that I've
(11:22):
lived at in Cincinnati have beenlisted for less than seven days
before being occupied.
This number is interesting.
I haven't rented a new place intwo years, three years.
So this data may be slightlydifferent.
I don't know.
I don't know.
I mean, your most recent place,like how long was it between it
going up for rent and yougetting it?
(11:43):
It was like, yeah, same, samedeal.
It was like a couple of days.
Um, That was a couple, that wasa little bit longer.
But I remember the Mount Adamsone specifically was, it was
listed at 7 a.m.
I visited it at 3 p.m.
I'd had the apartment within 24hours of that.
Well, I'm not shocked in thatsituation, A, because of where
it was located.
And we're gonna talk a littlebit more about the neighborhoods
(12:04):
of Cincinnati.
We're gonna also talk a littlebit about Chicago, too, because
I love, I'm a huge, Chicago'slike a second city for me.
I spent a lot of time in Chicagoover the years.
I love that city so much.
You got a place for rent inMount Adams which is one of the
most highly sought after placesto live in Cincinnati.
Yeah, I didn't think it was inmy price range.
And I saw Bob's basement for 700bucks.
(12:26):
Bob's basement.
I got to live there.
Send an application immediately.
But yeah, no, we'll talk alittle bit more about all those
little contributing factors.
But the cost is also acontributing factor there as
well.
$700 apartment.
Someone's going to jump on thatlike somebody did.
And that somebody was me.
Yeah, exactly.
And that somebody was me.
But yeah, keep it on going.
Some questions that we've gotjust for discussion.
(12:46):
Oh, yeah, the ones that wedidn't spoil already.
Yeah, why is it so hard to findan apartment in Cincinnati right
now, Patrick?
Why do you think?
I think it's a great place tolive.
I don't know if that– maybe I'mjust biased, but Cincinnati is a
cool city.
Anytime I have friends come tovisit, they're like, wow, like
didn't expect Cincinnati to becool, and Cincinnati is cool.
Yeah.
I don't know if that hasanything to do with anything,
(13:07):
but, you know.
it's popping off a little bitfor sure it's one of those kind
of cities on the rise I thinkculturally in the last like
decade even more so like maybeeven the last 15-20 years like
the people have started torealize that Cincinnati has a
pretty thriving like there's alot of really cool heritage with
Cincinnati people like there'sall these different cultural
(13:27):
events that we celebrate there'sall this awesome history to the
city there's a great food scenethat's kind of been developed
over time with like all thesepeople coming from you know
culinary backgrounds deciding tocome to Cincinnati and like
share their gifts with the worldwhether that's brewing beer
cooking awesome food distillingalcohol like cultivating like a
cultural scene too like theCincinnati Contemporary Arts
(13:49):
Museum has gained a huge rise inpopularity over the years the
Cincinnati Museum Centers theTaft Museum the Cincinnati Union
Terminal and the CMC has beenlike a huge cultural thing
that's like pushing thingsforward and the architecture of
the city the architecturethere's a lot of cool events too
I mean like I got a bunch offriends coming from different
like we got like Blank andOktoberfest which are both huge
events but it seems like everyweekend there's something like
(14:10):
this past weekend there wasbarbecue fest there's like
different taco fest if there wasAsian food festival like to I
think like there's a lot ofcommunity engagement which I
think people really resonatewith I'm not sure you know I'm
not sure if that's necessarily adirect correlation but I think
that's but I think that's a bigpart of it I think that people
want to go to a place that's alittle that's happening like if
that seems to be like a bit ofthe you know what draws renters
(14:32):
to a specific location is likenot only do they there's two
fact there's two factors what'sthere to do and how much is it
gonna cost and we'll talk aboutthe cost factor but it's like
over the last 20 yearsCincinnati's been more enticing
because it is a relativelycheaper market to get into for
people but now now it's a littlebit harder to find a place to
live and it's becoming a littlebit more expensive as well so we
(14:54):
have to think about like youknow I'm sure smarter people
than us you know real estateexperts and pros will probably
tell you like maybe there's aplateau on the horizon for
Cincinnati where people it'sgonna be a cool place to live
but what's the next cool placethat's a little cheaper than
Cincinnati now that Cincinnatiis inundated with tenants.
So it's a big thing there.
(15:14):
So what should renters be doingto stand out in a crowded
market?
We were talking about all thisstuff with finding a place.
Was there anything special thatyou did to get that$700
apartment, like that quickturnaround?
I was very fast.
That's the thing.
Because I, at the time, wasliving in Akron, Cleveland area.
And so I had another apartmentthat popped on the evenings
(15:38):
before that and I booked a tourfor the first thing in the
morning and then came down toCincinnati right then and there
stayed in a in a like a hoteland then and then that morning I
was with my mom my mom was waswith me as well and then that
morning like obviously before Iwoke up she's like she's like I
like there's an apartment at inMount Adams for$700 you know
just popped on 10 minutes agoand so she like reached out or
(16:02):
whatever about it or like askedme first and then I reached out
I forget but like I was thefirst person to reach out and so
I was the first person to tourthe one apartment which was in
downtown and then also the firstperson to get the tour so like
and so speed and initiative forme yeah yeah you're right that
was the biggest biggest thingfor me I mean obviously I got
very very lucky with both ofthem I was actually accepted to
(16:23):
both which is kind of a uniqueposition to be in um they were
both good deals but I think it'sbecause like like I literally as
soon as I saw them I booked thetour and made my way down to
Cincinnati yeah which worked outfor me yeah yeah and I would
also throw in another tip inthere I would say just like be
uh quick communication like noone likes a slow texter or
someone that takes a while toget back to someone so it's like
(16:44):
if you reach out to a landlordand they ask you like a
follow-up question or you askthem a question like make sure
that you're being responsivethat way you can get someone
scheduled they might look atthat as being like oh this
person's like really interestedin this place they're not just
lollygagging around trying towaste my time.
Make sure that you're efficient,showing up when you need to be
there, have your applicationskills ready to rock and roll.
(17:04):
If they ask you to fill out anapplication, be able to provide
references and all that stuff.
That's all I would say.
A couple other things here.
Any signs of relief for renters?
This is kind of a slightlysituation.
Vacancies are sitting on themarket for a few days longer
than last year, which we saidearlier, 42 days versus 38.
(17:24):
The competition remains intense.
Another thing to think about isthis is taking the entire
Cincinnati area intoconsideration.
So I'm thinking that this isprobably everything within the
275 loop.
So you have to also think aboutall these places in Blue Ash,
Norwood, stuff closer toKenwood, stuff on the west side,
Cheviot, maybe even stuff onnorthern Kentucky.
(17:45):
So it's like we see a lot ofplaces go up and then get rented
immediately within like the hipparts of the city center.
You have to imagine those likethose hot spots like Hyde Park,
Oakley, Mount Adams, OTR.
Those places tend to go up andthen get filled very, very
quickly.
But you have to imagine there'sI mean, there's a there's a for
rent sign in a for an apartmentnear my house in Northside that
(18:07):
I've passed by multiple times.
It's still been on there.
It's been a couple of weeks.
So it's like there are certainother areas, certain towns in
the city where where people arenot picking things up as fast as
they're coming out.
Yeah, that makes sense.
Should renters look outside thecity center?
Again, this is kind of touchingwhat I was just saying a minute
ago with like the otherneighborhoods of Cincinnati, but
it's like, I mean, you couldspeak to this because you have
been living in over the Rhinefor a while now.
(18:29):
It's never been something that'sbeen desirable to me.
I want a little bit more low keysuburban kind of area, like a
little bit more not city centerstuff.
And that's just because of manyfactors.
I have a dog.
I feel like it's easier to havelike a backyard with a dog.
pros of living in the citycenter would you ever consider
looking for something outsidethe city center yeah I mean
there's gonna be a time it'slike the thing is it's just I
(18:51):
love living in the city rightnow and there's gonna be a time
where I don't and then when thattime hits I'm probably never
moving back to the city so Iwant to like live here as like
long as I can while I can yeah Ihave no intention of moving in
the next few years but yeahthere's gonna be a day where I
want to have a yard you know notshare walls and stuff for sure
yeah I'd recommend it I meanlike my I really like I like
(19:12):
where I live again like it's myfavorite It's my favorite
neighborhood in Cincinnati, soI'm going to shout it out here
on the pod, is Northside.
I've spent a lot of time inthere from college onward, and I
was so excited to finally movethere and have a place there
just because I love the, it'skind of got this, the downtown
area of Northside kind of hasthis indie counterculture sort
(19:35):
of vibe, which really enticesme.
Lots of really great mom and poprestaurants.
The best record store in theentire world is there.
Shake It Records, shout out.
I'm wearing the t-shirt todayfor five minutes.
Oh, I did not even notice that.
I'm a shill.
I'm shilling for the, eventhough this isn't recorded on
video, but maybe one day it willbe.
SPEAKER_00 (19:53):
I love Shaker Records.
Hell yeah, me say.
Thank you.
Every weekend.
SPEAKER_01 (19:57):
Yeah.
Awesome.
Yeah, awesome.
It's dangerous to live a10-minute walk because I have to
limit myself.
It's like, every time I walk by,I'm like the Dave Chappelle
meme.
I'm like, y'all got any more ofthat record?
Or whatever.
Dude, Northside Yacht Club.
Yacht Club?
I am going tomorrow for the Maysandwich.
Yeah, the churrasca sandwich orwhatever it is.
amazing yeah man Yacht Club'sawesome so I don't know every
(20:17):
neighborhood in Cincinnati wellone of these days one of the pod
episodes should just be likeZach and Patrick rank the
Cincinnati neighborhoods I'mdone that sounds like a really
fun episode where we kind of goneighborhood by neighborhood our
favorite spots and everything sobut yeah again shout out look
outside the city center I meanlike if you want to live
downtown or in OTR I'm sureyou're going to have an awesome
time but like there are plentyof awesome neighborhoods
surrounding the city that youcould have just as much fun and
(20:38):
have a lot of really cool stuffto do and see on a daily basis
right what this means forlandlords a lot lot of pros say
that it's a strong opportunityto raise rent costs and improve
your listing quality, attracthigh quality tenants.
Worried about overpricing?
I don't know.
I think that if you overpricesomething, it's going to be
pretty clear that people are notgoing to pay for it.
You just got to be smart to themarket.
(21:00):
Just do your research, do yourdue diligence like we always say
on this podcast.
And then the last quick thingwas a lot of pros say that a
quick win for landlords in thiscrowded market is to make sure
that you have a really polishedlisting experience.
So making sure that yourproperty has professional
photos, good descriptions,thorough, getting that stuff up
(21:22):
on these sites and making surethat maybe just due to property
taxes and what you have to payfor the property, it's gonna
warrant you paying...
listing for a higher rent thanwhat the typical median is.
So if that's the case, makingsure that you're very clear on
those listing pages, how toentice these folks, I think is
very important as well.
But that's it for Newsreel, theofficial new segment of the
(21:44):
Rentish pod.
I like it.
I'm biased.
What do you think?
News?
I think it's good.
I'm a fan with it.
Newsreel.
Newsreel.
Newsreel.
And then we've got Newsreel andthen Real...
What was the one from movies?
Real Estate Real.
Every segment has a real in thetitle.
It's going to make our newsdocument.
(22:04):
Yeah, we got Proptology.
Proptology.
That's true.
That's good.
That's still the best one.
Proptology.
That's the best one.
And speak of the devil.
Real quick, before you sayProptology, I just got to give a
shout out to Chicago as a city.
I know we said we would do it alittle bit, but if you had not
spent any time in Chicago, somuch cool stuff to see, so many
great museums, so much goodfood.
(22:25):
You could throw a dart in analley in Chicago and hit a good
pizza place or a place to get ahot dog or Italian beef.
So much fun stuff to do inChicago.
I don't know.
Just shout out to there.
Chicago's awesome.
Yeah, very, very cool.
(22:46):
Go ahead, Pat.
You ruined my flow.
I'm sorry.
It's okay.
Yeah, so today on Promptology,we're going to be talking about
the Leaning Tower of New York.
Zach, have you heard of theLeaning Tower of New York?
Only when we did the showrun-through earlier this week,
but before that, no.
Yeah, same.
Yeah, as soon as I saw LeaningTower, I'm like, oh, the Leaning
(23:07):
Tower of...
Pisa.
And then I saw New York.
Most people.
So fun fact, Patrick.
Yeah.
A lot of people think that it'sthe Leaning Tower of Pizza, but
it's actually Pisa.
Yeah, I know it's Pisa.
There's people who think it'spizza.
Yes.
P-I-Z-Z-A.
The Leaning Tower of Pizza.
But yeah, so today we're goingto talk about the Leaning Tower
(23:29):
of Pisa.
Sorry.
Got him.
That was what I was hoping for.
I was like, I bet I'm going toscrew him up.
Yeah, Leaning Tower of New York.
A lot more recent than theLeaning Tower of Pisa.
Oh, yeah.
Pisa.
2015 is when this this buildingin New York was started
construction from a Fortisproperty group.
(23:50):
They were the ones thatconstructed it.
It's called One Seaport.
That's the name of the building.
All glass residential.
And it's near the East River.
Right.
And so the idea is it was goingto be the first luxury high rise
on the waterfront in lowerManhattan.
So that's like the kind ofbuilding genre that this is.
That seems like a weird claim tomarket yourself as the first
(24:12):
luxury high rise directly.
So that it's like it's like asubcategory of a subcategory.
Yeah.
Well, you got to.
We're the first luxury high risedirectly on the waterfront lower
Manhattan.
It's like you have to have allthese extra clarifiers because
otherwise you can't be thefirst.
Right.
There's so many luxury highrises in the city.
It's a good point.
Good point, Zach.
(24:32):
But, you know, some of theamenities that was going to have
are the high Do you know whatthat means?
I looked it up.
I mean, it was a French word.
It's like a it's like a a roofedlike outdoor, like a pavilion
sort of like a sunroom.
Yeah.
Yeah.
Like a gazebo?
(24:54):
Sort of, but like in a building.
Like not more than like agazebo.
It's more like a roofed likewalkway.
Okay.
Yeah.
I actually have no idea wherethis was going to be on the
building.
A covered entrance large enoughfor vehicles to pass through,
typically opening into acourtyard.
Boom.
According to Google.
Yeah.
Interesting.
And an infinity pool actuallylike on the 30th floor I think
(25:15):
is going to have an infinitypool.
Cool.
But, Zach.
Yeah.
Never happened.
Never happened.
Why not?
I'm so glad you asked.
In 2019, at its full height of670 feet, it started leaning
three inches to the north, whichlike three inches really doesn't
sound like a lot.
But when it's a building, youdon't want it leaning one inch.
(25:40):
Speaking of which, we got aphoto here.
I know our listeners can'tlisten to the photo, but how
would you describe thatbuilding?
How would I describe it?
Well, it looks Like, I mean,unfinished is the word that
comes to mind.
I mean, it's you can't reallytell based on the photo that
there is any kind of lean to it.
(26:00):
Like, I don't see it.
I mean, it looks just asstraight as all those other
other blocks in the neighborhoodright there.
I mean, it's like really, reallylike skinny.
It's super skinny.
Yeah, it's like it looks like itjust looks like an unfinished
building.
project like you can see there'sa pretty solid base to it with a
lot of glass windows and then itjust kind of stops about a third
(26:23):
of the way up super thin you cantell there's all these different
segmented rectangles in it likewhere those would be where the
condos would be and it just goesup and up and up and up and up
and up until it gets to the verytop of the building and the
funniest thing to me about thephoto is that this part of the
New York skyline notrecognizable at all you can tell
me this is any city on the waterand I would probably believe you
(26:43):
well no there's the one likeWorld Trade center behind it.
Where?
That's the One World TradeCenter?
I think.
I don't think so.
It looks like it.
It does?
At least the building shape.
I don't think so.
I don't think that that's theOne World Trade Center.
I could be wrong, but I don'tthink it has a big pointy Tip
like that.
(27:03):
Really?
Does it?
Yeah.
I mean, we're not New Yorkians,so, you know, we're doing
research on the fly here.
Yeah, I actually have no idea.
It looks kind of like it.
I thought the top of the OneWorld Trade Center was, like,
flat.
No, no, it's definitely got apoint.
It definitely looks a lot likeit because the building– because
it's kind of got, like, those–like, it's multi-sided.
It's not just like a, you know,like a regular– I could be
(27:26):
completely wrong.
I have no idea.
Either way, I don't recognizethis part of the New York
skyline.
I'll just throw that out there,man.
But I mean, it's just likeluxury skyrise in a very
interesting part of the city.
Where did you say it was?
It's lower Manhattan?
Lower Manhattan.
Okay.
Which also checks out with theOne World Trade Center.
I'm not going to die on thishill, per se.
Then you're probably right.
I've not spent a lot of time inlower Manhattan.
(27:47):
But yeah.
So do you have any more aboutthe story of the misalignment?
Yeah.
So the three inches to thenorth.
And by the way, when I'm lookingat the photo, I'm like– I'm
like, I think I can see it.
I don't know if I'm just lookingfor it.
You think you can see the lean.
Yeah, right, the lean.
Interesting.
I don't see it at all.
Yeah, again, I'm probably justpsyching myself out.
But the lean, in 2019, theynoticed it was only three inches
(28:09):
north.
And the reason is because theyused a soil improvement method
for the base instead oftraditional deep pilings
anchoring into Manhattan'sbedrock.
Now, what that means, like on anengineering level, I have
absolutely no idea.
But basically it sounded likethey made– I don't know if
(28:30):
necessarily a shortcut is theright word, but they did a
nontraditional sort of strategywith the foundation.
Okay.
And it cost them basically iswhat I understood from my
research.
Okay.
I thought you were about to getreal, you were like, from an
engineering standpoint, I haveno idea.
(28:50):
But it's a little silly.
It's like, yo, we builtbuildings thousands of times.
So we just want to change up thefoundation method?
It's like, no wonder it's got tolean to it.
It's like they strayed from theformula, you know?
I appreciate they're trying tobreak new ground, but it's like,
you're building a giant luxuryskyscraper in the biggest city
(29:11):
in the universe.
It's like, universe.
time to be experimental.
Right, which has become a casestudy in engineering with really
stressing the importance ofproper foundational work.
Totally.
Which, you know, you'd thinkthey would have figured that out
by now.
But yeah, maybe just a reminder.
But yeah, as a result of oncethey discovered the lean,
obviously lots of constructiondelays, legal battles.
(29:35):
I mean, as you saw in thepicture, only about 50% of the
finishes, including windows, areinstalled.
So it's just kind of likesitting there just incomplete so
yeah as a result like obviouslylegal battles tarnished
reputation uh with the peopleinvolved and some buyers uh
including the the mu family theyhad invested nearly 400 000 in
(29:56):
deposits in the buildings andthen now they're just finding
themselves in a state of limbowith the the building's
completion basically just beingpostponed indefinitely I don't
know who the Mew family is.
Do we have a fact check on thisfamily?
Am I supposed to recognize that?
It's from the New Yorker articlethat I read.
Okay, interesting.
(30:17):
I think it was just maybe one ofthe examples that was used.
Okay.
I'm not too worried about it.
I was just curious to know ifthat was a big New York family
name or something like that.
No, I mean, yeah, just tell methis family.
$400,000 is no chump change tothrow down for deposits for a
building like this.
Right, right, right.
Tell me this.
What are they going to do withthis?
(30:38):
Well, I don't know.
So according to, to engineers,there's not a risk of the
building collapsing.
Okay.
That's good.
That said, it sounds likedespite the engineers assurance,
right?
This thing's not gettingfinished anytime soon.
It looks like.
Okay.
And I have, I, I, I'm, I don'tknow what they're going to do.
Are they going to demolish it?
(30:58):
Or is it just going to be likesitting there as it's like half
completed, you know, work in thecity.
Cause I, even if they didcomplete it, like let's say
it's, it gets complete after theengineers like oh yeah it's just
lean a little lean never hurtyou know anybody do you think a
little lean never hurt nobody doyou think people are would move
into a building that's like hasbeen delayed so long because of
(31:21):
a lean like that's a greatquestion like the certainly at
this point that place willalways have like some kind of
stigma maybe after they finishit and they like prove that it's
a still standing structure andthat they're like there's no
worry about it like maybe afterthe new cycle resets a couple
times and people start toforget, maybe this place will
(31:42):
start to fill up.
I also wonder if maybe they'regoing to start having to take a
hit on some of the luxuriousnessof the place, like drop down the
rent maybe, or maybe some ofthese crazy amenities they're
not going to be able to takeinto account.
They might have to make it moreaffordable to entice people that
aren't necessarily willing tospend thousands of dollars to
live in a leaning apartment.
Right.
(32:02):
Well, it's already been sixyears since construction was
halted.
That's crazy.
So it's just like I don't knowwhat the future looks like for
this building.
To me, it seems unlikely thatit's going to– but they're
saying it's not going tocollapse either.
So I don't know if there's goingto– they're going to demo or–
We'll see.
I'm seeing some rumors onlinesaying that people are thinking
that it's probably going to looklike– they might have to finish
(32:24):
construction but after it'ssold.
So it looks like they might– thecompany that started
construction might be looking tosell it to someone.
Got it.
I'm almost wondering if thatpotential new buyer would think
that it might be morecost-effective to just demolish
what they have.
And then like recoup that lostcost.
But I don't know.
I'm definitely not aprofessional in terms of like
New York real estate to tell youwhat's going to happen there.
(32:46):
Well, it's an interesting onebecause of like the recency of
it.
It's not like a– like when we'retalking about the historic
buildings on a lot of theproptology segments, it's like a
lot of these buildings have beenaround for 100 years or
whatever.
And like this is one that's justlike it's less than a decade
old.
And it's not even being used foranything like a visual eyesore.
So I say I don't know.
It sounds like it's going to bemore trouble than it's worth.
(33:07):
to build this building tocompletion and then try and get
tenants rather than just startit over.
Well, let me ask you a question.
Let's say they did complete itas is with the three-inch lean.
Would you live there?
Am I wealthy?
No, no, no.
Because I got to be more wealthythan I am right now.
I'm just saying there's a leanon the building.
It's a giant sky rise.
(33:28):
Would you– let's say it'saffordable rent for New York or
whatever.
Like let's say you– Affordablerent for New York.
All right.
Dude, you're not playing alongwith the hypothetical.
Let's say you have to move toNew York.
I got to put myself in thissituation, Patrick, or else I
can't believe it.
You have to move to New York.
Circumstances in your life pointto you must move to New York.
Do I have a job in New York?
(33:48):
Yeah, you have a job.
Okay.
That helps.
So I'm getting paid a New YorkCity salary.
No, like you're moving to NewYork.
That's happening.
You know, and you're in NewYork.
But I have my same job now.
No, dude, you're in New York.
You have to live in New York.
Okay.
You're in New York.
You're looking for apartments.
Okay.
It's an affordable apartment.
Maybe we'll say the mostaffordable apartment that you've
found, but it's in the leaningtower of New York.
(34:12):
Are you comfortable getting anapartment in this tower?
If other people were living init, I wouldn't really think
twice about it.
So if your friends jumped offthe bridge, would you jump off
the bridge?
No.
Depends on the bridge.
No, I mean, obviously the answeris like, if it's the same that
I'm paying in rent right now forCincinnati, but in New York
(34:35):
City, sure, why not?
I'll pay that same amount for amore luxurious place to stay and
a chance to live in a cool citylike New York City.
I mean, I would love to live inNew York.
So the three-inch lien doesn'tmake you nervous?
No, it doesn't, no.
The cost is what makes me morenervous.
Oh, okay.
I'd rather pay affordable rentand have the building collapse.
Honestly, that's kind of whereI'm at.
But I'm also not a very wealthyperson.
(35:00):
Got it.
I'm more concerned about thecost of rent than the building
quality.
Yeah, I can tell because thewhole point of the question, the
hypothetical was like, does thethree-inch lean bother you?
No, not at all.
The lean doesn't bother you atall?
Nope, don't care.
Got it.
I could set up like a littleskateboard ramp in my apartment
and like do tricks because it'slike go downhill or whatever.
Yeah.
Okay.
What about you?
Would you be scared to?
(35:20):
No, I mean like, yeah, you know,the engineers say like, oh, it's
totally fine but just like youknow I don't know like what's in
it for the engineers to say thisyou know what I mean couldn't
they get sued i'm pretty surethey have to disclose if there's
a danger of the buildingcollapsing like back in the 50s
when the doctors were like yeahsmoking's good for you you know
it's just like you know what acomp what a comp what a comp
SPEAKER_00 (35:46):
i have a question
SPEAKER_01 (35:47):
okay producer musse's got a question
SPEAKER_00 (35:50):
if you were the first group of people to move in
first of all would you move inSecondly, like,
SPEAKER_01 (35:56):
like, did we just answer this question?
SPEAKER_00 (35:58):
Zach just said, but no, but Zach was saying if
people have are living there,then he's fine with it.
Right.
But I'm saying like,
SPEAKER_01 (36:05):
are you asking me?
So you're basically saying like,I need to be the Neil Armstrong
and land on this building.
SPEAKER_00 (36:10):
Yeah.
And they're giving you a 50%discounted rate off your rent
right now.
SPEAKER_01 (36:15):
Oh my God.
Yeah, totally.
No question.
SPEAKER_00 (36:18):
But they said, you got to make sure you don't work
out in this apartment, do anyjumping, don't have
SPEAKER_01 (36:24):
part of the lease a clause in the lease is like no
no
SPEAKER_02 (36:29):
jumping because
SPEAKER_01 (36:31):
no
SPEAKER_00 (36:31):
sudden moves cause uh certain uh eruptions um that
would freak
SPEAKER_01 (36:37):
me out
SPEAKER_00 (36:38):
exactly what okay so answer this question
SPEAKER_01 (36:40):
that's a no that that's a no
SPEAKER_00 (36:42):
that's enough
SPEAKER_01 (36:43):
jack that's a no if if they're giving me the
apartment for 50 of what i'mpaying right now and rent cool
but if they say in the lease nojumping or sudden movements i'm
going you guys can go to hell75% off rent.
80%.
I'm going to give you 80% offrent.
But I can't jump.
I mean, I guess I'm not jumpingthat much in my apartment as is.
(37:05):
Yeah, what are you doing?
Yeah, why not?
I'll do it.
UNKNOWN (37:08):
Screw it.
SPEAKER_00 (37:08):
but then what if you watch like the Bengals and they
make it to the Super Bowl and
SPEAKER_01 (37:13):
I go yes and then the whole tower oh no good
question good question that wasgood well thank you Patrick that
was a cool little segment we'llsee what happens over the years
as we chronicle the LeaningTower of New York City I'd like
to do an update on this in acouple years sure yeah I'm sure
we'll have substantial updateson this as the time goes on and
(37:34):
maybe one of these days we'll doa segment on the Leaning Tower
of Pisa as well you should Thatwould be fun.
As like a book A, book B kind offeel.
Thank you all for listening tothis episode of The Rentish Pod.
We appreciate each and every oneof you for listening.
If you had a question or a topicsuggestion or just something fun
that you wanted to shout out,feel free to email questions at
therentishpod.com.
(37:55):
You can also follow us attherentishpod on Instagram.
Go to Google and search TheRentish and you'll find us on
podcast platforms basicallyeverywhere.
Like, subscribe, give us arating, give us a comment.
I've been Zach.
That's been I'm Patrick.
That's been Moussey, producerMoussey.
And yeah, we'll see you guysnext time around.
What's going on, everybody?
Welcome to the Rentish Podcast.
My name is Zach, and I'm herewith my co-host, Patrick.
What up?
We are your hosts for thislittle podcast about rental
properties, kind of, but hostedby two guys that work in the
real estate industry and sort ofknow what they're talking about.
Going off script there a littlebit.
(00:21):
Yep.
It's time.
We're changing it up.
I can't say the same thing overand over again or else it's
going to get tired.
Yeah.
But mostly we don't, Patrick.
That's right.
So this is why you'll have fun.
You're putting words into mymouth.
No.
You said it.
I don't want to say that, Zach.
I heard you say it.
Literally, I just heard you saythat in my brain.
I want to speak for myself.
That's how tired I am.
I heard you just say that in mybrain.
Yeah.
All right.
Yes, Patrick, mostly we don't,which is why you'll have fun
(00:42):
hearing us talk to experts andlearning with us or laughing and
yelling along at how little weknow along the way.
Patrick, how's your day going?
Yeah, it's going good.
Just good?
That's it?
That's all you got for me?
It's going great, Zach.
Well, you want to elaborate?
Why is it good?
Yeah, it's fine, actually.
Oh, it's just fine?
It went from good to great tofine.
It's not so great.
Okay, I'm sorry.
No, yeah, it's 513 Day.
(01:04):
Happy 513 Day.
Happy 513 Day to you.
For all those that don't know,oh, sorry, Rentish Podcast.
Follow the Rentish on socialmedia.
We're on Instagram now.
RentishPod.
The RentishPod.
I think it's The Rentish Pod.
So yeah, follow us on Instagram.
Is there a hyphen?
No, The Rentish Pod is theusername.
Rent-ish.
The Rentish Pod.
Yeah, but is there a hyphen?
(01:24):
No hyphen, no hyphen.
All one word.
The Rentish Pod.
Got it.
No hyphen.
Follow us on the social media.
You can go to The Rentish onbasically any podcast service
out there.
Spotify Podcasts, ApplePodcasts, whatever they're
called.
You know, the things.
They're on there.
Amazon Music.
We're on Amazon Music too.
So you can go check us out onbasically all.
Is it Amazon Music?
Yeah, it is.
(01:45):
Yep, that's a thing.
And wouldn't lie to you, Ipromise.
And you can go to all thosedifferent websites to check us
out and give us a review and arating while you're there.
We would really appreciate it.
And email questions attherentishpod.com 513-DAY.
For those of you that don'tknow, we record this podcast
from Cincinnati, Ohio, which iswhere our office is, but it's
(02:06):
also where the podcast studiois.
Cincinnati, Ohio famously, for avery long time, had a 513 area
code.
So if you got a It still does,what?
No, so they started hittingcapacity a year or two ago.
So new people are getting like,what is it, 9, 6, 7 or something
like that?
Is that the Dayton one?
I don't know if it'sspecifically in other counties
(02:28):
in general or if they justgenerated a new area
SPEAKER_02 (02:30):
code.
SPEAKER_01 (02:31):
But for a long, long, long, long, long time,
basically since forever...
since the origin of cell phones,Cincinnati had been 5-1-3.
So today is May 13th, 5-1-3,Cincinnati Day.
Right.
I'm celebrating.
I'm going to Cincinnati Redsbaseball game.
It's$1 a dog night or$2 a dognight or whatever.
(02:51):
Oh, that's awesome.
They were playing the White Soxtonight, right, I think?
Dude, I have no idea.
You got that pitching rotationlined up?
I am there for the hot dogs.
Just there for the dogs.
You don't care about the game.
I don't care about the game.
I like the baseball environment.
I don't care about the sport atall.
Probably halfway through thegame, I win.
and know who we're playing.
Sure.
Well, when you go, so you'regoing to a Reds game, Great
American Ballpark, one of myfavorite ballparks in the United
(03:11):
States of these Americas.
So you're going to get just ahot dog.
You're going to get a Coney.
No, I'm going to get like three.
Are you going to get a Coney orare you going to get a hot dog?
Dude, we're going to see when weget there.
I didn't know there's Coneyoptions.
Well, yeah.
I mean, like when I go to a Redsgame, the first thing I think of
is I want a slice of the Rose'spizza and a Skyline Coney.
This is my first Reds game ever.
(03:32):
Are you serious?
I'm not kidding.
I've been to a Guardians game.
Well, hopefully the weatherholds up for you.
It's raining out there rightnow.
Hopefully they don't delay it.
Do baseball games get rainedout?
Yes, they do.
They'll be on a weather delay.
They'll either delay the startor they'll roll it.
What I've always wanted tohappen in my entire life, never
happened to me before.
I've always wanted to go to agame that got a rain delay and
got delayed to the next daybecause then your ticket carries
(03:54):
over.
And then the next day, they justplay two games back to back in a
doubleheader.
And I've never been to adoubleheader ever.
It could happen today.
Could happen today.
But then you'd have to call offwork tomorrow maybe to go to.
Yeah, I'm not.
Yeah, I mean.
So.
Oh, I am off tomorrow, but Ihave plans in the evening.
Oh, okay.
Well, hopefully it doesn't getrained out and you get to enjoy
your baseball game.
This is the hope.
This is the hope.
This is the hope.
(04:15):
But yeah, Cincinnati Day.
Happy Cincinnati Day.
We got a very fun Cincinnatiarticle to talk to everybody
about with on the show, and thenPatrick is going to do a little
bit of proptology, and we'regoing to learn about the Leaning
Tower of New York.
I, myself, will be celebrating513 Day, most likely by getting
some kind of Cincinnati chili.
Shout out to Camp WashingtonChili, my favorite chili parlor
(04:35):
in the Cincinnati.
No way it's better than Skyline.
Top two.
I'm sorry.
Top of the best.
Yep.
Okay.
Skyline's like the fifth orsixth best.
I hear the words you're saying,and I respect that you have an
opinion.
You're just dang wrong.
All right.
We're going to talk in the news.
Real news.
Real estate news.
Remember, it's R-E-A-L.
Real news.
No.
(04:55):
What?
Real.
R-E-A-L.
Now, you just said R-E-E-L.
No.
Real.
I'm just trying to trip you up.
What?
I got you.
We're going to talk about thenews, the real estate news, the
news that you need to knowabout.
Title, Cincinnati He tied itwith Chicago as the, I didn't
need to read the title part, butI just went ahead and did it
anyway.
Thanks for saying, I'm just notgoing to skip that part.
(05:16):
We should call the segment newsreal, but R E A L instead of
news real, you know, but that'swhat, that's what we did.
We called it real news.
But nobody says like a real,like it's newsreel.
Newsreel.
You know, it's like, I neverunderstood the real news thing.
I just thought it was like aterrible.
Real estate.
Yeah, right.
No, I get that.
But like newsreel is like,that's like a play on words
(05:38):
because it's like newsreel, butit's newsreel because it's real
estate.
Okay.
From henceforth, that shall beknown.
Retitle the segment.
Newsreel.
Newsreel.
That's it.
All right.
Welcome to your first episode ofNewsreel.
Cincinnati is tied with Chicagoas the toughest rental market in
the Midwest.
Finding an apartment in theCincinnati metro area has become
increasingly difficult.
(05:59):
A new report from Rent Cafereveals that in early 2025,
Cincinnati was tied withsuburban Chicago as the most
competitive rental market in theMidwest, with 10 renters vying
for every available unit.
Only Miami and Los Angelesranked higher nationwide,
placing Cincinnati third for themost applicants per apartment in
February based on data fromYardie Matrix.
(06:21):
That's crazy.
Crazy stuff, Pat.
I'm going to read a littlearticle here from the Cincinnati
Inquirer.
Patrick, did you read thearticle?
No, it's not even on the sheet.
No, it's on the very top.
Wait, no, obviously I didn'tread the article.
Oh, okay, got it.
Well, I'm going to recap just alittle bit of it for you here.
With 10 renters competing forevery vacant apartment, the
Cincinnati metro area was tiedwith suburban Chicago as the
(06:43):
toughest market for apartmenthunters in the Midwest in early
2025, according to a new reportfrom Rent Cafe.
Nationwide, the Cincinnati areatrailed only red-hot rental
markets in Miami and Los Angelesfor the most applicants per
available unit in February,according to Rent Cafe's
analysis of data provided byMarketTrack or Yardie Matrix.
This was already all covered,but I'm just restating the
information that was in thearticle.
But here's new.
(07:04):
This is new right here, thisblurb.
At the same time, a shrinkingsupply of available apartments
helped push the median askingprice for all apartments in the
Cincinnati area up 15% to$1,420compared to February a year ago,
according to a separate reportfrom national real estate broker
Dreadfin.
So price is going up.
Price is going up.
Price is going up.
(07:24):
I was asked yesterday about,because I lived in Mount Adams'
new neighborhood in Cincinnati.
Wow.
I forgot about that.
That feels like forever ago.
It does feel like forever ago.
Just about two years ago.
Yeah.
A little bit more.
But anyways, I had a$700apartment and so then I was-
That's crazy.
Yeah, crazy.
For reference, it was not like ashared apartment either.
(07:45):
It was a single apartment.
It was like basically a onebedroom.
It was kind of like, it was agarden unit.
It was like slightly in thebasement.
I still had a little bit ofwindow.
Yeah, not that y'all are curiousat all, but for those listening
at home, just go to Zillow andsearch Mount Adams, Cincinnati
and just look look at the pricesthere for an apartment.
And Patrick, you'll realize thatPatrick was just robbing this
company.
Yeah, well, it wasn't a company,because he asked, like, what
(08:05):
building was it?
And I was like, it wasn't reallya building.
It was Bob's basement,basically.
Bob's basement.
My landlord, Bob, had a basementunit, and he, I guess, didn't,
like, hear about inflation orwhatever.
I don't know if I would signwith that real estate company.
It's like, well, Bob's basement.
Apartment's in Bob's basement.
So you got lucky, but it's notnecessarily going to be very
(08:27):
lucky for people right now.
Oh, correct.
I'm just rubbing it in.
Yeah.
High demand, limitedavailability means that renters
are going to be forced to actfast and stretch their budgets
to land an apartment inCincinnati area where the
occupancy rate hovers above 94%,according to rent cafe, which is
a crazy number.
I mean, I'm, I'm guessing thatmeans that 94% of places that
(08:47):
are livable are lived in areoccupied.
That is nuts.
Occupancy.
Yeah.
So you're basically, you'rebasically just gambling on that
6% to like try and figure outwhere you're I don't know.
They keep searching.
(09:12):
Yeah.
Keep searching until you findsome.
So Cincinnati is the second mostsought after city for renters
nationwide based on rent cafesengagement data, which includes
page views, saves and favorites.
Cincinnati ranks just behindWashington, D.C., which is not
not the number one pick that Iwould have predicted.
I'm a bit confused.
So like like is this in terms ofof numbers like per capita?
(09:36):
Because like there's no way thatCincinnati gets more engagement
purely numbers wise than likeNew York.
It just doesn't seem possible.
Yeah, I don't know.
Producers, do we have any statson it?
You're the man with the article.
I'm the man with the article.
You read the article, dude.
This is just what they say.
They say that Cincinnati issecond behind Washington, D.C.
(09:56):
Okay.
Yeah, that's interesting.
This is just according to rentcafe engagement data.
So there could be many otherfactors contributing to this.
We don't know exactly.
I'm sure they calculate the datain some sort of way to come up
with the most sought-afterquote-unquote city Yeah, just
based purely on apartment views.
It had the most apartment viewsin the country.
(10:19):
So I wonder if Cincinnati isbecoming a major investment hub
for people who don't live inCincinnati, maybe aren't
necessarily- They're justlooking to maybe invest in
Cincinnati.
Do you think that could havesomething to do with it?
I don't know, Patrick.
You might have just answered oneof the Q&As there at the bottom
of the sheet that you said youdidn't read.
Oh, I didn't.
I guess I...
(10:40):
That's a great question, and I'mgoing to spoil it and say yes.
I think that it does mean thatCincinnati is becoming a very
highly sought-after investormarket.
Let me check the bottom of thesheet.
While you're checking that,another really fun...
Well, fun.
Call it whatever you want.
Hey, we're trying to make realestate fun.
Blend the comedy...
This is another trivia fact fromthe website.
(11:01):
It says average time forapartments to be rented in
Cincinnati has increasedslightly from 38 to 42 days.
No way.
I'm sorry.
Offering a small cushion.
They fly on and off the market.
There's no way.
Like that Mount Adams apartment,I visited it one day.
and had the apartment the nextday.
Yeah, it's interesting.
Most of the apartments that I'veever gotten are places that I've
(11:22):
lived at in Cincinnati have beenlisted for less than seven days
before being occupied.
This number is interesting.
I haven't rented a new place intwo years, three years.
So this data may be slightlydifferent.
I don't know.
I don't know.
I mean, your most recent place,like how long was it between it
going up for rent and yougetting it?
(11:43):
It was like, yeah, same, samedeal.
It was like a couple of days.
Um, That was a couple, that wasa little bit longer.
But I remember the Mount Adamsone specifically was, it was
listed at 7 a.m.
I visited it at 3 p.m.
I'd had the apartment within 24hours of that.
Well, I'm not shocked in thatsituation, A, because of where
it was located.
And we're gonna talk a littlebit more about the neighborhoods
(12:04):
of Cincinnati.
We're gonna also talk a littlebit about Chicago, too, because
I love, I'm a huge, Chicago'slike a second city for me.
I spent a lot of time in Chicagoover the years.
I love that city so much.
You got a place for rent inMount Adams which is one of the
most highly sought after placesto live in Cincinnati.
Yeah, I didn't think it was inmy price range.
And I saw Bob's basement for 700bucks.
(12:26):
Bob's basement.
I got to live there.
Send an application immediately.
But yeah, no, we'll talk alittle bit more about all those
little contributing factors.
But the cost is also acontributing factor there as
well.
$700 apartment.
Someone's going to jump on thatlike somebody did.
And that somebody was me.
Yeah, exactly.
And that somebody was me.
But yeah, keep it on going.
Some questions that we've gotjust for discussion.
(12:46):
Oh, yeah, the ones that wedidn't spoil already.
Yeah, why is it so hard to findan apartment in Cincinnati right
now, Patrick?
Why do you think?
I think it's a great place tolive.
I don't know if that– maybe I'mjust biased, but Cincinnati is a
cool city.
Anytime I have friends come tovisit, they're like, wow, like
didn't expect Cincinnati to becool, and Cincinnati is cool.
Yeah.
I don't know if that hasanything to do with anything,
(13:07):
but, you know.
it's popping off a little bitfor sure it's one of those kind
of cities on the rise I thinkculturally in the last like
decade even more so like maybeeven the last 15-20 years like
the people have started torealize that Cincinnati has a
pretty thriving like there's alot of really cool heritage with
Cincinnati people like there'sall these different cultural
(13:27):
events that we celebrate there'sall this awesome history to the
city there's a great food scenethat's kind of been developed
over time with like all thesepeople coming from you know
culinary backgrounds deciding tocome to Cincinnati and like
share their gifts with the worldwhether that's brewing beer
cooking awesome food distillingalcohol like cultivating like a
cultural scene too like theCincinnati Contemporary Arts
(13:49):
Museum has gained a huge rise inpopularity over the years the
Cincinnati Museum Centers theTaft Museum the Cincinnati Union
Terminal and the CMC has beenlike a huge cultural thing
that's like pushing thingsforward and the architecture of
the city the architecturethere's a lot of cool events too
I mean like I got a bunch offriends coming from different
like we got like Blank andOktoberfest which are both huge
events but it seems like everyweekend there's something like
(14:10):
this past weekend there wasbarbecue fest there's like
different taco fest if there wasAsian food festival like to I
think like there's a lot ofcommunity engagement which I
think people really resonatewith I'm not sure you know I'm
not sure if that's necessarily adirect correlation but I think
that's but I think that's a bigpart of it I think that people
want to go to a place that's alittle that's happening like if
that seems to be like a bit ofthe you know what draws renters
(14:32):
to a specific location is likenot only do they there's two
fact there's two factors what'sthere to do and how much is it
gonna cost and we'll talk aboutthe cost factor but it's like
over the last 20 yearsCincinnati's been more enticing
because it is a relativelycheaper market to get into for
people but now now it's a littlebit harder to find a place to
live and it's becoming a littlebit more expensive as well so we
(14:54):
have to think about like youknow I'm sure smarter people
than us you know real estateexperts and pros will probably
tell you like maybe there's aplateau on the horizon for
Cincinnati where people it'sgonna be a cool place to live
but what's the next cool placethat's a little cheaper than
Cincinnati now that Cincinnatiis inundated with tenants.
So it's a big thing there.
(15:14):
So what should renters be doingto stand out in a crowded
market?
We were talking about all thisstuff with finding a place.
Was there anything special thatyou did to get that$700
apartment, like that quickturnaround?
I was very fast.
That's the thing.
Because I, at the time, wasliving in Akron, Cleveland area.
And so I had another apartmentthat popped on the evenings
(15:38):
before that and I booked a tourfor the first thing in the
morning and then came down toCincinnati right then and there
stayed in a in a like a hoteland then and then that morning I
was with my mom my mom was waswith me as well and then that
morning like obviously before Iwoke up she's like she's like I
like there's an apartment at inMount Adams for$700 you know
just popped on 10 minutes agoand so she like reached out or
(16:02):
whatever about it or like askedme first and then I reached out
I forget but like I was thefirst person to reach out and so
I was the first person to tourthe one apartment which was in
downtown and then also the firstperson to get the tour so like
and so speed and initiative forme yeah yeah you're right that
was the biggest biggest thingfor me I mean obviously I got
very very lucky with both ofthem I was actually accepted to
(16:23):
both which is kind of a uniqueposition to be in um they were
both good deals but I think it'sbecause like like I literally as
soon as I saw them I booked thetour and made my way down to
Cincinnati yeah which worked outfor me yeah yeah and I would
also throw in another tip inthere I would say just like be
uh quick communication like noone likes a slow texter or
someone that takes a while toget back to someone so it's like
(16:44):
if you reach out to a landlordand they ask you like a
follow-up question or you askthem a question like make sure
that you're being responsivethat way you can get someone
scheduled they might look atthat as being like oh this
person's like really interestedin this place they're not just
lollygagging around trying towaste my time.
Make sure that you're efficient,showing up when you need to be
there, have your applicationskills ready to rock and roll.
(17:04):
If they ask you to fill out anapplication, be able to provide
references and all that stuff.
That's all I would say.
A couple other things here.
Any signs of relief for renters?
This is kind of a slightlysituation.
Vacancies are sitting on themarket for a few days longer
than last year, which we saidearlier, 42 days versus 38.
(17:24):
The competition remains intense.
Another thing to think about isthis is taking the entire
Cincinnati area intoconsideration.
So I'm thinking that this isprobably everything within the
275 loop.
So you have to also think aboutall these places in Blue Ash,
Norwood, stuff closer toKenwood, stuff on the west side,
Cheviot, maybe even stuff onnorthern Kentucky.
(17:45):
So it's like we see a lot ofplaces go up and then get rented
immediately within like the hipparts of the city center.
You have to imagine those likethose hot spots like Hyde Park,
Oakley, Mount Adams, OTR.
Those places tend to go up andthen get filled very, very
quickly.
But you have to imagine there'sI mean, there's a there's a for
rent sign in a for an apartmentnear my house in Northside that
(18:07):
I've passed by multiple times.
It's still been on there.
It's been a couple of weeks.
So it's like there are certainother areas, certain towns in
the city where where people arenot picking things up as fast as
they're coming out.
Yeah, that makes sense.
Should renters look outside thecity center?
Again, this is kind of touchingwhat I was just saying a minute
ago with like the otherneighborhoods of Cincinnati, but
it's like, I mean, you couldspeak to this because you have
been living in over the Rhinefor a while now.
(18:29):
It's never been something that'sbeen desirable to me.
I want a little bit more low keysuburban kind of area, like a
little bit more not city centerstuff.
And that's just because of manyfactors.
I have a dog.
I feel like it's easier to havelike a backyard with a dog.
pros of living in the citycenter would you ever consider
looking for something outsidethe city center yeah I mean
there's gonna be a time it'slike the thing is it's just I
(18:51):
love living in the city rightnow and there's gonna be a time
where I don't and then when thattime hits I'm probably never
moving back to the city so Iwant to like live here as like
long as I can while I can yeah Ihave no intention of moving in
the next few years but yeahthere's gonna be a day where I
want to have a yard you know notshare walls and stuff for sure
yeah I'd recommend it I meanlike my I really like I like
(19:12):
where I live again like it's myfavorite It's my favorite
neighborhood in Cincinnati, soI'm going to shout it out here
on the pod, is Northside.
I've spent a lot of time inthere from college onward, and I
was so excited to finally movethere and have a place there
just because I love the, it'skind of got this, the downtown
area of Northside kind of hasthis indie counterculture sort
(19:35):
of vibe, which really enticesme.
Lots of really great mom and poprestaurants.
The best record store in theentire world is there.
Shake It Records, shout out.
I'm wearing the t-shirt todayfor five minutes.
Oh, I did not even notice that.
I'm a shill.
I'm shilling for the, eventhough this isn't recorded on
video, but maybe one day it willbe.
SPEAKER_00 (19:53):
I love Shaker Records.
Hell yeah, me say.
Thank you.
Every weekend.
SPEAKER_01 (19:57):
Yeah.
Awesome.
Yeah, awesome.
It's dangerous to live a10-minute walk because I have to
limit myself.
It's like, every time I walk by,I'm like the Dave Chappelle
meme.
I'm like, y'all got any more ofthat record?
Or whatever.
Dude, Northside Yacht Club.
Yacht Club?
I am going tomorrow for the Maysandwich.
Yeah, the churrasca sandwich orwhatever it is.
amazing yeah man Yacht Club'sawesome so I don't know every
(20:17):
neighborhood in Cincinnati wellone of these days one of the pod
episodes should just be likeZach and Patrick rank the
Cincinnati neighborhoods I'mdone that sounds like a really
fun episode where we kind of goneighborhood by neighborhood our
favorite spots and everything sobut yeah again shout out look
outside the city center I meanlike if you want to live
downtown or in OTR I'm sureyou're going to have an awesome
time but like there are plentyof awesome neighborhoods
surrounding the city that youcould have just as much fun and
(20:38):
have a lot of really cool stuffto do and see on a daily basis
right what this means forlandlords a lot lot of pros say
that it's a strong opportunityto raise rent costs and improve
your listing quality, attracthigh quality tenants.
Worried about overpricing?
I don't know.
I think that if you overpricesomething, it's going to be
pretty clear that people are notgoing to pay for it.
You just got to be smart to themarket.
(21:00):
Just do your research, do yourdue diligence like we always say
on this podcast.
And then the last quick thingwas a lot of pros say that a
quick win for landlords in thiscrowded market is to make sure
that you have a really polishedlisting experience.
So making sure that yourproperty has professional
photos, good descriptions,thorough, getting that stuff up
(21:22):
on these sites and making surethat maybe just due to property
taxes and what you have to payfor the property, it's gonna
warrant you paying...
listing for a higher rent thanwhat the typical median is.
So if that's the case, makingsure that you're very clear on
those listing pages, how toentice these folks, I think is
very important as well.
But that's it for Newsreel, theofficial new segment of the
(21:44):
Rentish pod.
I like it.
I'm biased.
What do you think?
News?
I think it's good.
I'm a fan with it.
Newsreel.
Newsreel.
Newsreel.
And then we've got Newsreel andthen Real...
What was the one from movies?
Real Estate Real.
Every segment has a real in thetitle.
It's going to make our newsdocument.
(22:04):
Yeah, we got Proptology.
Proptology.
That's true.
That's good.
That's still the best one.
Proptology.
That's the best one.
And speak of the devil.
Real quick, before you sayProptology, I just got to give a
shout out to Chicago as a city.
I know we said we would do it alittle bit, but if you had not
spent any time in Chicago, somuch cool stuff to see, so many
great museums, so much goodfood.
(22:25):
You could throw a dart in analley in Chicago and hit a good
pizza place or a place to get ahot dog or Italian beef.
So much fun stuff to do inChicago.
I don't know.
Just shout out to there.
Chicago's awesome.
Yeah, very, very cool.
(22:46):
Go ahead, Pat.
You ruined my flow.
I'm sorry.
It's okay.
Yeah, so today on Promptology,we're going to be talking about
the Leaning Tower of New York.
Zach, have you heard of theLeaning Tower of New York?
Only when we did the showrun-through earlier this week,
but before that, no.
Yeah, same.
Yeah, as soon as I saw LeaningTower, I'm like, oh, the Leaning
(23:07):
Tower of...
Pisa.
And then I saw New York.
Most people.
So fun fact, Patrick.
Yeah.
A lot of people think that it'sthe Leaning Tower of Pizza, but
it's actually Pisa.
Yeah, I know it's Pisa.
There's people who think it'spizza.
Yes.
P-I-Z-Z-A.
The Leaning Tower of Pizza.
But yeah, so today we're goingto talk about the Leaning Tower
(23:29):
of Pisa.
Sorry.
Got him.
That was what I was hoping for.
I was like, I bet I'm going toscrew him up.
Yeah, Leaning Tower of New York.
A lot more recent than theLeaning Tower of Pisa.
Oh, yeah.
Pisa.
2015 is when this this buildingin New York was started
construction from a Fortisproperty group.
(23:50):
They were the ones thatconstructed it.
It's called One Seaport.
That's the name of the building.
All glass residential.
And it's near the East River.
Right.
And so the idea is it was goingto be the first luxury high rise
on the waterfront in lowerManhattan.
So that's like the kind ofbuilding genre that this is.
That seems like a weird claim tomarket yourself as the first
(24:12):
luxury high rise directly.
So that it's like it's like asubcategory of a subcategory.
Yeah.
Well, you got to.
We're the first luxury high risedirectly on the waterfront lower
Manhattan.
It's like you have to have allthese extra clarifiers because
otherwise you can't be thefirst.
Right.
There's so many luxury highrises in the city.
It's a good point.
Good point, Zach.
(24:32):
But, you know, some of theamenities that was going to have
are the high Do you know whatthat means?
I looked it up.
I mean, it was a French word.
It's like a it's like a a roofedlike outdoor, like a pavilion
sort of like a sunroom.
Yeah.
Yeah.
Like a gazebo?
(24:54):
Sort of, but like in a building.
Like not more than like agazebo.
It's more like a roofed likewalkway.
Okay.
Yeah.
I actually have no idea wherethis was going to be on the
building.
A covered entrance large enoughfor vehicles to pass through,
typically opening into acourtyard.
Boom.
According to Google.
Yeah.
Interesting.
And an infinity pool actuallylike on the 30th floor I think
(25:15):
is going to have an infinitypool.
Cool.
But, Zach.
Yeah.
Never happened.
Never happened.
Why not?
I'm so glad you asked.
In 2019, at its full height of670 feet, it started leaning
three inches to the north, whichlike three inches really doesn't
sound like a lot.
But when it's a building, youdon't want it leaning one inch.
(25:40):
Speaking of which, we got aphoto here.
I know our listeners can'tlisten to the photo, but how
would you describe thatbuilding?
How would I describe it?
Well, it looks Like, I mean,unfinished is the word that
comes to mind.
I mean, it's you can't reallytell based on the photo that
there is any kind of lean to it.
(26:00):
Like, I don't see it.
I mean, it looks just asstraight as all those other
other blocks in the neighborhoodright there.
I mean, it's like really, reallylike skinny.
It's super skinny.
Yeah, it's like it looks like itjust looks like an unfinished
building.
project like you can see there'sa pretty solid base to it with a
lot of glass windows and then itjust kind of stops about a third
(26:23):
of the way up super thin you cantell there's all these different
segmented rectangles in it likewhere those would be where the
condos would be and it just goesup and up and up and up and up
and up until it gets to the verytop of the building and the
funniest thing to me about thephoto is that this part of the
New York skyline notrecognizable at all you can tell
me this is any city on the waterand I would probably believe you
(26:43):
well no there's the one likeWorld Trade center behind it.
Where?
That's the One World TradeCenter?
I think.
I don't think so.
It looks like it.
It does?
At least the building shape.
I don't think so.
I don't think that that's theOne World Trade Center.
I could be wrong, but I don'tthink it has a big pointy Tip
like that.
(27:03):
Really?
Does it?
Yeah.
I mean, we're not New Yorkians,so, you know, we're doing
research on the fly here.
Yeah, I actually have no idea.
It looks kind of like it.
I thought the top of the OneWorld Trade Center was, like,
flat.
No, no, it's definitely got apoint.
It definitely looks a lot likeit because the building– because
it's kind of got, like, those–like, it's multi-sided.
It's not just like a, you know,like a regular– I could be
(27:26):
completely wrong.
I have no idea.
Either way, I don't recognizethis part of the New York
skyline.
I'll just throw that out there,man.
But I mean, it's just likeluxury skyrise in a very
interesting part of the city.
Where did you say it was?
It's lower Manhattan?
Lower Manhattan.
Okay.
Which also checks out with theOne World Trade Center.
I'm not going to die on thishill, per se.
Then you're probably right.
I've not spent a lot of time inlower Manhattan.
(27:47):
But yeah.
So do you have any more aboutthe story of the misalignment?
Yeah.
So the three inches to thenorth.
And by the way, when I'm lookingat the photo, I'm like– I'm
like, I think I can see it.
I don't know if I'm just lookingfor it.
You think you can see the lean.
Yeah, right, the lean.
Interesting.
I don't see it at all.
Yeah, again, I'm probably justpsyching myself out.
But the lean, in 2019, theynoticed it was only three inches
(28:09):
north.
And the reason is because theyused a soil improvement method
for the base instead oftraditional deep pilings
anchoring into Manhattan'sbedrock.
Now, what that means, like on anengineering level, I have
absolutely no idea.
But basically it sounded likethey made– I don't know if
(28:30):
necessarily a shortcut is theright word, but they did a
nontraditional sort of strategywith the foundation.
Okay.
And it cost them basically iswhat I understood from my
research.
Okay.
I thought you were about to getreal, you were like, from an
engineering standpoint, I haveno idea.
(28:50):
But it's a little silly.
It's like, yo, we builtbuildings thousands of times.
So we just want to change up thefoundation method?
It's like, no wonder it's got tolean to it.
It's like they strayed from theformula, you know?
I appreciate they're trying tobreak new ground, but it's like,
you're building a giant luxuryskyscraper in the biggest city
(29:11):
in the universe.
It's like, universe.
time to be experimental.
Right, which has become a casestudy in engineering with really
stressing the importance ofproper foundational work.
Totally.
Which, you know, you'd thinkthey would have figured that out
by now.
But yeah, maybe just a reminder.
But yeah, as a result of oncethey discovered the lean,
obviously lots of constructiondelays, legal battles.
(29:35):
I mean, as you saw in thepicture, only about 50% of the
finishes, including windows, areinstalled.
So it's just kind of likesitting there just incomplete so
yeah as a result like obviouslylegal battles tarnished
reputation uh with the peopleinvolved and some buyers uh
including the the mu family theyhad invested nearly 400 000 in
(29:56):
deposits in the buildings andthen now they're just finding
themselves in a state of limbowith the the building's
completion basically just beingpostponed indefinitely I don't
know who the Mew family is.
Do we have a fact check on thisfamily?
Am I supposed to recognize that?
It's from the New Yorker articlethat I read.
Okay, interesting.
(30:17):
I think it was just maybe one ofthe examples that was used.
Okay.
I'm not too worried about it.
I was just curious to know ifthat was a big New York family
name or something like that.
No, I mean, yeah, just tell methis family.
$400,000 is no chump change tothrow down for deposits for a
building like this.
Right, right, right.
Tell me this.
What are they going to do withthis?
(30:38):
Well, I don't know.
So according to, to engineers,there's not a risk of the
building collapsing.
Okay.
That's good.
That said, it sounds likedespite the engineers assurance,
right?
This thing's not gettingfinished anytime soon.
It looks like.
Okay.
And I have, I, I, I'm, I don'tknow what they're going to do.
Are they going to demolish it?
(30:58):
Or is it just going to be likesitting there as it's like half
completed, you know, work in thecity.
Cause I, even if they didcomplete it, like let's say
it's, it gets complete after theengineers like oh yeah it's just
lean a little lean never hurtyou know anybody do you think a
little lean never hurt nobody doyou think people are would move
into a building that's like hasbeen delayed so long because of
(31:21):
a lean like that's a greatquestion like the certainly at
this point that place willalways have like some kind of
stigma maybe after they finishit and they like prove that it's
a still standing structure andthat they're like there's no
worry about it like maybe afterthe new cycle resets a couple
times and people start toforget, maybe this place will
(31:42):
start to fill up.
I also wonder if maybe they'regoing to start having to take a
hit on some of the luxuriousnessof the place, like drop down the
rent maybe, or maybe some ofthese crazy amenities they're
not going to be able to takeinto account.
They might have to make it moreaffordable to entice people that
aren't necessarily willing tospend thousands of dollars to
live in a leaning apartment.
Right.
(32:02):
Well, it's already been sixyears since construction was
halted.
That's crazy.
So it's just like I don't knowwhat the future looks like for
this building.
To me, it seems unlikely thatit's going to– but they're
saying it's not going tocollapse either.
So I don't know if there's goingto– they're going to demo or–
We'll see.
I'm seeing some rumors onlinesaying that people are thinking
that it's probably going to looklike– they might have to finish
(32:24):
construction but after it'ssold.
So it looks like they might– thecompany that started
construction might be looking tosell it to someone.
Got it.
I'm almost wondering if thatpotential new buyer would think
that it might be morecost-effective to just demolish
what they have.
And then like recoup that lostcost.
But I don't know.
I'm definitely not aprofessional in terms of like
New York real estate to tell youwhat's going to happen there.
(32:46):
Well, it's an interesting onebecause of like the recency of
it.
It's not like a– like when we'retalking about the historic
buildings on a lot of theproptology segments, it's like a
lot of these buildings have beenaround for 100 years or
whatever.
And like this is one that's justlike it's less than a decade
old.
And it's not even being used foranything like a visual eyesore.
So I say I don't know.
It sounds like it's going to bemore trouble than it's worth.
(33:07):
to build this building tocompletion and then try and get
tenants rather than just startit over.
Well, let me ask you a question.
Let's say they did complete itas is with the three-inch lean.
Would you live there?
Am I wealthy?
No, no, no.
Because I got to be more wealthythan I am right now.
I'm just saying there's a leanon the building.
It's a giant sky rise.
(33:28):
Would you– let's say it'saffordable rent for New York or
whatever.
Like let's say you– Affordablerent for New York.
All right.
Dude, you're not playing alongwith the hypothetical.
Let's say you have to move toNew York.
I got to put myself in thissituation, Patrick, or else I
can't believe it.
You have to move to New York.
Circumstances in your life pointto you must move to New York.
Do I have a job in New York?
(33:48):
Yeah, you have a job.
Okay.
That helps.
So I'm getting paid a New YorkCity salary.
No, like you're moving to NewYork.
That's happening.
You know, and you're in NewYork.
But I have my same job now.
No, dude, you're in New York.
You have to live in New York.
Okay.
You're in New York.
You're looking for apartments.
Okay.
It's an affordable apartment.
Maybe we'll say the mostaffordable apartment that you've
found, but it's in the leaningtower of New York.
(34:12):
Are you comfortable getting anapartment in this tower?
If other people were living init, I wouldn't really think
twice about it.
So if your friends jumped offthe bridge, would you jump off
the bridge?
No.
Depends on the bridge.
No, I mean, obviously the answeris like, if it's the same that
I'm paying in rent right now forCincinnati, but in New York
(34:35):
City, sure, why not?
I'll pay that same amount for amore luxurious place to stay and
a chance to live in a cool citylike New York City.
I mean, I would love to live inNew York.
So the three-inch lien doesn'tmake you nervous?
No, it doesn't, no.
The cost is what makes me morenervous.
Oh, okay.
I'd rather pay affordable rentand have the building collapse.
Honestly, that's kind of whereI'm at.
But I'm also not a very wealthyperson.
(35:00):
Got it.
I'm more concerned about thecost of rent than the building
quality.
Yeah, I can tell because thewhole point of the question, the
hypothetical was like, does thethree-inch lean bother you?
No, not at all.
The lean doesn't bother you atall?
Nope, don't care.
Got it.
I could set up like a littleskateboard ramp in my apartment
and like do tricks because it'slike go downhill or whatever.
Yeah.
Okay.
What about you?
Would you be scared to?
(35:20):
No, I mean like, yeah, you know,the engineers say like, oh, it's
totally fine but just like youknow I don't know like what's in
it for the engineers to say thisyou know what I mean couldn't
they get sued i'm pretty surethey have to disclose if there's
a danger of the buildingcollapsing like back in the 50s
when the doctors were like yeahsmoking's good for you you know
it's just like you know what acomp what a comp what a comp
SPEAKER_00 (35:46):
i have a question
SPEAKER_01 (35:47):
okay producer musse's got a question
SPEAKER_00 (35:50):
if you were the first group of people to move in
first of all would you move inSecondly, like,
SPEAKER_01 (35:56):
like, did we just answer this question?
SPEAKER_00 (35:58):
Zach just said, but no, but Zach was saying if
people have are living there,then he's fine with it.
Right.
But I'm saying like,
SPEAKER_01 (36:05):
are you asking me?
So you're basically saying like,I need to be the Neil Armstrong
and land on this building.
SPEAKER_00 (36:10):
Yeah.
And they're giving you a 50%discounted rate off your rent
right now.
SPEAKER_01 (36:15):
Oh my God.
Yeah, totally.
No question.
SPEAKER_00 (36:18):
But they said, you got to make sure you don't work
out in this apartment, do anyjumping, don't have
SPEAKER_01 (36:24):
part of the lease a clause in the lease is like no
no
SPEAKER_02 (36:29):
jumping because
SPEAKER_01 (36:31):
no
SPEAKER_00 (36:31):
sudden moves cause uh certain uh eruptions um that
would freak
SPEAKER_01 (36:37):
me out
SPEAKER_00 (36:38):
exactly what okay so answer this question
SPEAKER_01 (36:40):
that's a no that that's a no
SPEAKER_00 (36:42):
that's enough
SPEAKER_01 (36:43):
jack that's a no if if they're giving me the
apartment for 50 of what i'mpaying right now and rent cool
but if they say in the lease nojumping or sudden movements i'm
going you guys can go to hell75% off rent.
80%.
I'm going to give you 80% offrent.
But I can't jump.
I mean, I guess I'm not jumpingthat much in my apartment as is.
(37:05):
Yeah, what are you doing?
Yeah, why not?
I'll do it.
UNKNOWN (37:08):
Screw it.
SPEAKER_00 (37:08):
but then what if you watch like the Bengals and they
make it to the Super Bowl and
SPEAKER_01 (37:13):
I go yes and then the whole tower oh no good
question good question that wasgood well thank you Patrick that
was a cool little segment we'llsee what happens over the years
as we chronicle the LeaningTower of New York City I'd like
to do an update on this in acouple years sure yeah I'm sure
we'll have substantial updateson this as the time goes on and
(37:34):
maybe one of these days we'll doa segment on the Leaning Tower
of Pisa as well you should Thatwould be fun.
As like a book A, book B kind offeel.
Thank you all for listening tothis episode of The Rentish Pod.
We appreciate each and every oneof you for listening.
If you had a question or a topicsuggestion or just something fun
that you wanted to shout out,feel free to email questions at
therentishpod.com.
(37:55):
You can also follow us attherentishpod on Instagram.
Go to Google and search TheRentish and you'll find us on
podcast platforms basicallyeverywhere.
Like, subscribe, give us arating, give us a comment.
I've been Zach.
That's been I'm Patrick.
That's been Moussey, producerMoussey.
And yeah, we'll see you guysnext time around.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.