I did. For a yr after univ. Moved back to NYC. $5200/mo, 50/50 split with ex-girlfriend. This was on the UWS, around 93rd & Broadway. Not much of a "highrise" -- more like a prewar condo on the 8th floor we rented from an existing owner who moved his family to CA. 1BR with 1 + 0.5 baths. I guess you could call it "luxurious", at least compared to the rest of NYC's expensive shitty housing. Utilities & internet were not included in that price. Roof access was ok, nothing too exciting though, but was quite romantic during one of the meteor showers. No gym at ground level. Most people in the building seemed to sport expensive gym memberships downtown. Myself, I just went running every morning at 6am to save costs and did pushups on my own floor. No extra laundry room as there was a washer/dryer in the condo (although small as fuck...could barely cram all my clothes in). This building was oriented to older tenants -- I was 22 working in IB at the time and she was 21 at her last year of college. So we were quite young compared to most of the building's tenants who were in their late 20s up to 40s. Some had kids. All were professionals though,save for a few grad students. My GF and I kept to ourselves as the older people in there didnt throw any parties or social gatherings (except for 1 charity event during the holidays).

All in all, I dont really regret living there, but I damn well know I coulda lived in a MUCH nicer condo in any other city on that salary at that price and gotten more bang for the buck. Our apartment was much bigger and more spacious than is typical, but came at a price of lack of common amenities that younger people want. If you can avoid living in NYC and kicking your wallet in the nuts for shitty housing, DO IT.

 

Rents for a 1BR "luxury" building will start around $3500/mo and will vary quite a bit based on location (ie: in Tribeca that number will be closer to $6k.)

You know that Google is a thing, right?

Please don't quote Patrick Bateman.
 
Best Response

Yes, I lived in a studio for ~2,800 / month. Gym will be extra for most of the places, but you may be able to get them to waive the fee for a year if you ask before you sign. If the place has roof access I doubt they will charge you unless there is a special "party room" or something like that.

As DBCooper mentioned, things can much more expensive as you move to more popular neighborhoods, but you should be able to find a reasonable place in midtown / fidi / chelsea.

There are a ton of websites you can look at for help finding the various buildings, but I think one of the best things to do is spend some time walking around the neighborhood you're interested in moving to. You should be able to spot the large residential buildings fairly easily, and you can use your smartphone to learn more about them on the spot (if you can afford to live there, rentals vs. condo, etc.).

Good luck hunting. Moving to NYC for the first time is a pain.

 

Lived in silvertowers (clinton area/midtown west) for 2 years. Rent was $3,000 for per month for an alcove studio (50th floor with amazing views) and 2 months free. The price has probably shut up since then and is about 3300 for the same apt, but a lower floor say 25 and below, could be gotten for about 2800 per month with a month or two free.

Gym and amenities not included. Gym was pretty much paid for by firm I worked for and was cheap anyway, somewhere around 80 per month which includes personal trainer, Yoga, a salon, pool, massages at discounted rates. Other benefits living there included free entrance to certain places and discounted rates + free bus ride strictly for residents in the mornings and evenings along 11th ave stopping on each street since the closest sub is like 3 aves away.

Advice to you: While silvertowers was an amazing apt to live in given the ammenities, I wont advise anyone to rent there if they don't got it like that (financially). Also, if you do not know people in NYC, and you are going into the City as a single man looking to have fun, get a room mate and live in a "social" building.

Good luck!

 

if you are going to be a 1st year analyst I dont think it would be possible. First off, a 2br with a decent view probably wont go for less than 6000 per month. Keep in mind, your salary (not expected bonus or salary+signon) needs to be greater than 40x monthly rent. Alternatively, if you come from wealth, you can pay 1 years rent in advance or get a guarantor (who btw needs to make 80x the monthly rent) to sign the lease

Where will you be working? There are more affordable decent places around. 2 gold in the financial district is decent, so are a lot of other apts in the area. Look at apts in hells kitchen for better rates if you want to be in midtown west. Honestly, you need to come to NY for a week or two and do your homework.

 

Using the word "luxury" in NYC is dangerous. You really need to know what you are looking for, and as a first year analyst you will not be able to afford "NYC luxury". If what you are looking for is a highrise with nice amenities, then there are several options.

First let me clarify luxury:

1) NYC luxury (i.e. this is all relative, so luxury in NYC means something different than in Oklahoma) -

a) There are the mega buildings (15 CPW, Dakota, One57, 1 CPW, 80/25 columbus circle, 1 CPS, 151 E 58th, One Madison, etc) these are condo/co-ops so you will have to rent from an owner, and you are looking at a ton of money (if you can find units on the market), $10k+/month.

b) There are also top "luxury" rental buildings: In this category I would lump in places where 1 bedrooms run $5K + (The corner on the UWS, potentially the continental on 32nd and 6th, 89 murray - this one is a bit cheaper). There are many more in this category, but in my mind aren't really worth it.

Now if what you are looking for is just a high rise with nice amenities there are many buildings like that in NYC.

I live in a high rise in a great location (doorman, cleaning service, etc etc). I have found that the best deals and the nicest apartments are when you rent through an owner. There are a couple of things to keep in mind here:

Pros:

1) You usually have more room to negotiate. An owner is concerned with covering his/her mortgage and therefore wants a tenant in there for a long time and is willing to negotiate if you are willing to sign for longer (where as a rental agency doesn't want to commit to longer term leases because they want to hike up the rent and can usually cover gaps in a couple of units since they have so many units rented at once).

2) The quality of the apartment. A condo/co-op is usually very personalized by the owner. So while there is more volatility in the individual units (i.e. unit 3C might be much nicer than unit 4C in the same building) you can usually find what you are looking for, and owners will usually put in more care into their unit (b/c at the end of the day they own this thing, and either plan on living there in the future or used to live there). You get less of a cookie cutter unit and more unique touches (i.e. cool marble/granite choices, unique bathrooms, etc).

3) The people - In owner occupied buildings you usually get friendlier neighbors and friendlier staff. The doormen, etc really get to know the owners of units because they have been around for so long. And people living in these buildings seem to want to meet their neighbors.

Cons:

1) You will probably have to pay a broker fee, so make sure to factor that into your overall cost. With large rental companies (related, etc) you can usually find a unit on your own and save on the fee (or get a month free, etc) not the case with condos/co-ops (at least not usually).

2) While the people are nicer, sometimes you run into the problem where you don't have neighbors because many rich people buy these properties as investments and don't rent them out (or use them on the weekends).

3) Harder to find. Much harder to find these units, takes a lot of time and the availability is very limited. You might love a unit but you can't rent it out for 2 months and someone else takes it from you. Chances are the other units int he building are pretty different (as owners customize their space) and you can't just get the same unit on another floor (if people are even offering to rent their unit in that building).

Anyway I do rent in a luxury building (from owner and not "NYC luxury" as I described above..) rent is mid $3's and all amenities are included (1 Bedroom).

 

Yea, let me better rephrase what I mean here. I want a nice building with great amenities, preferably in the Midtown West area. Looking to spend $1700-1750 per person.

Archstone Clinton seems pretty nice.. so I imagine people get a roommate and just convert the 1BR into a 2BR flex? Because the listings I see on realty sites (Renthop, Nakedapartment,etc.) show 2BR flex going for $3000-3500.

Is it better to just get a walk-up somewhere downtown and have an actual bedroom?

 

What neighborhood do you want to live in and in what neighborhood will you be working?

I am not a huge fan of the Archstone brand; in my opinion their buildings are a bit tired and not as well done as some other rentals out there.

I think related usually has decent apartments as does glenwood (and potentially rose associates).

Will depend by area. And you will get a better deal with a walkup and chances are you will want to use another gym unless you rent from a place that has a great gym (i.e. Aldyn on the west side). All depends on what is important to you.

 

I'm in a one bedroom that was converted into a two bedroom apartment in a luxury building. The plus side was there was no fee for it. It's $3,500 a month split between two people. Gym and other amenities in the building for a flat fee once a year (incredible value). Nice roof deck as well.

Not in the most fun neighborhood, but it's a pretty sweet deal.

 

Hell's Kitchen. The biggest expense was the wall we had put up to convert it to two bedrooms.

One thing I'll say is that a lot of buildings no longer allow for full wall conversions. So, if you look to do this, make sure the buildings allow full walls before you spend any time checking them out. It's a pain in the ass, but when you find one that works, it is a good value.

 

Rem sint non mollitia repellendus. Ipsam quia unde in laboriosam tenetur aspernatur laudantium. Officia dolor totam et aut sit. Ea mollitia laudantium et quia. Officia numquam hic sunt voluptatum qui perferendis natus. Mollitia sed laborum pariatur voluptatem aut et.

Aut est aspernatur iure. Quae tenetur et ab quibusdam est non quod. Molestiae porro repudiandae id minima. Ut est consectetur quidem temporibus voluptatem. Doloribus in provident id doloremque. Nihil voluptas ullam omnis corporis quod deleniti sit. Doloremque a minima nostrum error officia quod possimus rem.

Atque dolor perferendis aut aut iste aut. Voluptas illum quasi sit illum. Libero vel dolores nihil sit. Aliquid est animi expedita rem aspernatur.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”