A crappy, overpriced, undersized apartment that real-estate agents market as trendy. Frequently located in a crappy ghetto and/or a contaminated former industrial building, facts that the real estate agent also downplays.
Real Estate Agent: Look at these new lofts, priced from $1500/month. They're in a vibrant new neighborhood in a historic landmark building.
Really: A 400 square foot walk-up apartment with a cheap coat of paint hiding the asbestos. Should rent for $500/month, but some sucker is willing to pay $1500. The neighborhood is almost never as nice as the brochures make it out to be.
Prices shown in USD.
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