I don't really think living in Dumbo or Bheights is efficient, but this rent is not crazy for that part of town. And even within that pricey part of town, they decided to pick a pricey way to live: newly remodeled or built highrise living.
But, there are a lot of people in NY who can afford it, especially with the 'rents paying a third. Hubby is a senior director of product management a small (<$1B market cap) tech company. Depending on what "senior" and "director" mean (different at every company) this could be a role that commands 300k-1M+ in total comp. And let's not forget that a lot of people live closer to the edge than us Mustachians. IMO, it would not be terribly unusual to see a New York couple that is netting $200k renting a place like this.
I will say that although I am from time to time jealous of the low housing prices some of y'all tout in flyover country or that weird thing sticking off our southeast corner, it is missing the point somewhat. Living in NYC or the Bay is, for some, an investment. In my experience, it is an investment that pays absurd returns, to those who are skilled and lucky. Of course, there are people pulling down $500k a year in Miami, but nothing close to as many as in NYC. The 85%ile HHI here is greater than the 95%ile in Miami. That's a big part of why it costs so much to live here. If you can figure out how to spend that money efficiently it's highly worth the added cost of housing.