360-Square-Foot NYC Apartments Will Only Run You $3,000 Per Month

As the rent prices rise in New York City, Manhattan's apartments are shrinking.

The New York Times reports this summer, a modular community called My Micro NY will open on East 27th Street and 1st Avenue.

For the low, low rental price of $2,000 to $3,000 a month, you could live in your very own mini-studio.

The Brooklyn Navy Yard-constructed, prefabricated apartments follow the introduction of last year's 22-unit modular building, The Stack, to Manhattan's Inwood neighborhood.

Although residing alone in the city is practically impossible, given the high cost of living, My Micro NY's 55 apartments aim to make solo habitation a reality.

Ranging from 260 to 360 square-feet, these apartments will provide all the fixings of luxury living without the space.

But, with a Murphy bed and collapsible furniture, the cozy space could work. The 9-foot-high ceilings and natural light don't hurt, either.

Really, almost anything is better than living with four other people, which is a normal occurrence in New York. What's more, 22 of the building's units will be dedicated affordable housing.

The company that won 2013's city-wide housing contest, nARCHITECTS, promises comfortable amenities for the residents of My Micro NY.

They'll have access to a storage unit, laundry room and athletic facility.

Micro-living may one day become the norm for singles in cities since metropolitan areas like Vancouver and San Francisco  are already working on their own mini-apartments.

With an endless clambering for urban space, smaller dwellings just make sense.

Architectural illustrations of My Micro NY make the building seem similar to an expensive hotel.

A view of the building shows how it might look during construction.

Each apartment's large windows make up for its lack of space.

This is innovative urban dwelling.

Citations: Home Shrunken Home: Micro-Apartments, Tiny Homes Prefabricated in Brooklyn (New York Times)