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

It mightiness beryllium imaginable to outrun your adjacent rent costs — if you unrecorded pinch roommates.

Nike is offering a unsocial — and highly applicable — prize to 2 winners of a thoroughfare title successful New York City connected August 29: "1 period of free rent."

"Step to the starting statement connected Orchard Street for a chance to triumph 1 period of rent paid," the institution says.

Participants, who will beryllium chosen by a random drawing, will title successful a bid of 100-meter dashes, advancing done an undisclosed number of heats earlier racing successful a last round.

At the extremity of it all, the 2 fastest participants will each gain up to $4,000, which Nike is trading arsenic capable for a month's rent.

For galore New Yorkers, though, that mightiness not screen it.

The median Manhattan rental price for a market-rate apartment, wherever the title is group to occur, soared to $5,000 past month, according to an August study from The Real Deal and appraisal patient Samuel Miller.

Should the winners of the races hail from Queens aliases Brooklyn, the $4,000 prize will apt beryllium enough, but not by much. According to information from Apartments.com, the mean rent for a one-bedroom successful Queens is $3,605. In Brooklyn, it's $3,082.

Mayor Zohran Mamdani has made lowering the city's astronomical lodging costs a centerpiece of his administration. His signature rent frost for astir 1 cardinal rent-stabilized apartments takes effect this fall, while City Hall is pursuing a broader scheme to build and sphere 200,000 affordable homes complete the adjacent decade.

Representatives for Mamdani did not instantly respond to a petition for remark Sunday.

The title comes arsenic Nike tries to recapture immoderate of the taste cachet it's mislaid successful caller years. CEO Elliott Hill, a Nike seasoned who returned to lead the institution successful 2024, has been moving to refocus the marque connected sports, rebuild relationships pinch retailers, and revive merchandise invention aft years of losing crushed to competitors for illustration Hoka and On.

The turnaround has shown signs of advancement successful North America, but it's been slow going. Nike's shares stay good beneath their 2021 peak, while weakness successful China and different challenges proceed to measurement connected the company.