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Business

Nike is offering $4,000 in rent money to winners of an NYC race. In Manhattan, that might not be enough.

Business Insider ·
Nike is offering $4,000 in rent money to winners of an NYC race. In Manhattan, that might not be enough.

Nike is hosting a street race in New York City.

The winners will get $4,000, or as the company puts it, a month's rent.

Marcin Golba/NurPhoto via Getty Images Nike is offering two winners of a NYC street race $4,000, or as the company puts it, a month's rent.

The money, however, would fall short of Manhattan's $5,000 median market-rate rent.

The race comes as Mayor Zohran Mamdani pushes to make city housing more affordable.

It might be possible to outrun your next rent payment — if you live with roommates.

Nike is offering a unique — and highly relevant — prize to two winners of a street race in New York City on August 29: "1 month of free rent." "Step to the starting line on Orchard Street for a chance to win one month of rent paid," the company says.

Participants, who will be chosen by a random drawing, will race in a series of 100-meter dashes, advancing through an undisclosed number of heats before racing in a final round.

At the end of it all, the two fastest participants will each earn up to $4,000, which Nike is marketing as enough for a month's rent.

For many New Yorkers, though, that might not cover it.

The median Manhattan rental price for a market-rate apartment, where the race is set to occur, soared to $5,000 last month, according to an August report from The Real Deal and appraisal firm Samuel Miller.

Should the winners of the races hail from Queens or Brooklyn, the $4,000 prize will likely be enough, but not by much.

According to data from Apartments.com, the average rent for a one-bedroom in Queens is $3,605.

In Brooklyn, it's $3,082.

Read the full article on Business Insider ›

5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.businessinsider.com — the content belongs to Business Insider.

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