Down the street from their apartment (presumably the building next to the Emerson, or else the Bunker Hill Tower Apartments down the hill) are 2 bedroom units in a nice apartment complex in the heart of Little Tokyo (built within the last 3 years) that a month ago were available for $2400...

Blows their argument about rent costs out of the water. They're just humble-bragging about the size of their buyout offer.