Buress was kind enough to decode every line over at Rap Genius...
"We're in Carroll Gardens... in one of Tony Trimm's friends bedroom"
"He's in the living room. He's working on... he's studying for law school and stuff"
"He's a good dude for letting us record here"
"I ain't got no shoes on, I'm comfortable!"
"Rappin, rap rap rappin' I'm rappin, rap rap rappin' (rap)"
H/T The Fader.