NYC Approves Building of 300 Square Foot Micro Apartments

CNN takes a look at the new trend of micro apartments which has now spread to New York City. The city has approved building new apartments that have only 300 square feet apiece. They are incredibly expensive, incredibly tiny and really claustrophobic. Current city regulations call for apartments to be a minimum of 400 square feet, but that requirement is being waived for this project. The trend has spread from Hong Kong and Tokyo, where space is at a premium and prices for apartments are sky high. Take a look: