hen Mark Y. and Niraj Kaji arrived in New York City in Fall of 1994, they lived in a comfortable residence hall just off of Washington Square Park, in the heart of Greenwich Village. They enjoyed 24-hour security, a well-maintained bathroom, and easy access to the hip, trendy culture that only Greenwich Village could offer. That was when both young men were undergraduate students at New York University.

Times have changed. After graduating with business degrees in 1998, Mark Y. and Kaji moved into a tiny, one-bedroom apartment (sans doorman) in the much less hip and un-trendy midtown area. Their apartment on West 56^th Street, between Eighth Avenue and Broadway, has only a curtain to separate Kaji's bedroom from the living room, and a kitchen that can barely fit a refrigerator. Yet both young men consider themselves lucky to have found affordable accomodations. "It’s soo cheap," says Mark Y. of the $950-per-month (split two ways), rent-stabilized apartment. "We really got a great deal."

Although both say there was plenty to appreciate about living downtown, after graduating from NYU they were unwilling to pay the Village’s sky-high rents, where a one-bedroom apartment can cost $2,800. When Mark Y. discovered his grandmother was vacating her rent-stabilized apartment at the end of his senior year, he jumped at the chance to rent the space. He and Kaji agreed to be roommates, splitting the cost even further. They acknowledge the apartment is less than posh, and see room for improvement. "It’s not fancy by any means," says Yackancih, "and we’d like to put up a wall instead of a curtain."

But both say they are happy with their situation, and not looking to move anytime soon. "What happens is that after graduation most people move out of the downtown area," says Niraj. "Or, they pay $1,000-$1,200 a month."

Bobby Somekh and David Rosen wish their rent were so little. These fellow NYU graduates (Somekh ’99, Rosen ’98) were not willing to give up the 24-hour security and downtown location of their undergraduate years. After senior year they moved into a one-bedroom apartment in a posh doorman-building on Lexington Avenue and 24^th Street, building a wall and converting the space to two bedrooms. But it rents for $2,475 a month – that’s over $1,235 a-piece.

And come May 1, the landlord is raising the rent to $2,695, a jump that is forcing Somekh and Rosen to scramble for another apartment or find a third roommate to squeeze into the living space.

They say the rent is already more than they can afford, although both have well-paying jobs as financial analysts. "I have zero left after each paycheck," says Somekh.

Yet they are unwilling to move into a less-desirable Upper East Side or Upper West Side location because they are so accustomed to the downtown area. "We’re pretty downtown-centric because we went to NYU," says Rosen.

They say they are only looking at apartments below 34^th Street, but would rather remain in their current building and defray the cost by finding a third roommate. "We’d rather not move out," adds Somekh, "but it’s very hard to afford something like this right now."