Great places for 1st year bankers to live in NYC
Most 2010 FT IBD 1st year analysts are in the process of figuring out places to live and roommate situations. I am not familiar with NYC real estate besides doing an SA stint there. I suspect many on this board have heard of great places, deals or are living in one. Looking to hear about specific buildings that I could then look into. My guess is that most people in this situation are looking into the Financial District/Tribeca/Midtown areas trying to minimize their commute times to/from their banks.
My budget was 1.2-1.6k per month.
Nobody can answer your question without any detail.
Ukon I realize I did not provide much clarity. I am not asking what is specifically out there in the market right now I have spent some time looking into streateasy.com and other websites that tailor to anyone looking for an apartment in NYC. I am looking for where most BB 1st year analyst live specifically if there are a couple of great buildings that I should look into in late April to early june before training. Or maybe where a current analyst lives that is an amazing deal and there may be some options to get into that building come my start date.
My goal was to make this a general thread for others out there to get some ideas of places that current analysts live at and may be good options for them
But I know for me living on 70k we are probably looking to spend 1.2-1.6k per month. Most likely 2-4 bedrooms with 2 baths. Area: mostly financial district/soho/tribeca. I don't really care to much for building types. I would like a Terrace to kick back and have a BBQ and beer.
Worldtraveler:
since you are looking to spend max 1.6k a month, you need not provide more detail. you won't get anything nice for that price, but you may be able to find something ok. just know that your building will be a walk-up with no amenities. you won't find anything in soho or tribeca for that price. financial district has some good deals, but nobody wants to live there. murray hill/gramercy has some cheap apartment bldgs along 2nd and 3rd ave between 22nd and 30th sts managed by croman realty. They are pretty cramped and dumpy though and the property management company is awful. you don't want to live in the lower east side b/c it's out of the way and the people there are creepy your best bet is the upper east side in the 80's east of 2nd ave. try to get something within reasonable walking distance to 4,5,6 trains which will drop you off right by jp morgan at grand central, credit suisse on 23rd and park and then wall street. You can also transfer at 59th street to get over to midtown west and be dropped off close to lazard, morgan stanley, barclays, and bank of america at bryant park.
living along the 4,5,6 is fairly convenient unless you work for citi in tribeca or rbs,nomura in the world financial center.
as for websites, use craigslist owner no-fee section. brokers illegally post in this section as property owners, which is shady, but they won't charge you a fee. NEVER pay a fee in nyc, especially in this market.
what about for people who are working at world financial center? i can't afford tribeca and the rest of the nearby area seems so boring and lifeless
off the top of my head, since you are going to be working along the manhattan west subway lines, the upper west side will probably work for you. you could also live in the murray hill/flatiron district- i think that the area has a subway line that runs in the vicinity of the world financial.
i'll admit that i never cared for the upper west side myself. i'm more of an upper east side guy.
MURRAY HILL
murray hill is pretty trashy though
bump
xoxo
Either midtown or upper west side. Anywhere else is for the proletariat.
I know your joking... at least I assume you are. UWS is for 50 year old couples without children, it's out of the way from pretty much everything, a long subway ride to everywhere, and generally pretty boring. Midtown has absolutely nothing to do, the traffic is loud, the bars suck and the restaurant scene is filled with tourists.
I'm partial to Gramercy if you can get something it the lower 20s west of 3rd or the UES. I would say if you're young you want to be on the 4,5,6 lines. As mentioned before, Murray Hill is dumpy and the bar scene is nothing to write home about. Chelsea is not bad; the crowd is a bit older, and the orange line isn't as convenient as the green, but it's not bad, and it's a short commute or a cheap cab ride to anywhere.
FiDi is a canyon. There's nothing down there; no restaurants, bars or natural light.
Yes, that is a tongue-in-cheek comment. Live where you want but remember that as a 1st year, proximity to your office is of utmost importance.
whatever you do, avoid Queens and Jersey
One of the advantages of Hoboken is that you get to dodge the 4% city tax and enjoy lower rent. The commute is about an extra 15 minutes each way if you live in downtown Hoboken, but it's a lot lower stress if the economy tanks. Believe me, I was here in '07 when the layoffs started and it's a lot easier to sleep if you've got a few months' worth of living expenses in the bank in Hoboken than it is to sleep if you're living hand-to-mouth in Manhattan. I guess it was a little easier for me because my work on the analytics team only involved 70 hours/week instead of 100, and I would take the company car home when I stayed past 11.
Whatever you do, my advice is to spend less than 40% of your take-home salary (about 25% of your total pre-tax salary) on the combination of rent and the city tax. It's tough at first, but you'll thank yourself after a year.
Where do Bankers usually live? (NYC) (Originally Posted: 07/29/2012)
Do they just get some cheap, affordable place with maybe 2 other people just so they have a bed to sleep on?
Or do they generally get nice condos?
Townhouse in the Upper East Side or bust.
Fidi, West Village, and Midtown West were always very popular.
I have friends in Williamsburg and Brooklyn Heights.
Murray Hill or UES if you're a first year...
East/West Village if you're a third year...(and have roommates)
I've lived in east and west vills and tribeca. Others I know live on uws and ues.
Actually many ppl, especially junior analysts, tend to pick apt based on office location because it will give you some extra sleeping time every day. This is actually quite helpful given your long hours in the first few years.
When ppl get promoted to associates, many love the west village and east village area. At least this was the case in my group. Guess the night life there is a big attraction.
Windsor Court
Everywhere. They don't all live in one or two neighborhoods in Manhattan. As said earlier, junior-level folks (analysts, associates, and often VPs) tend to stick to areas close to the office to make the commute tolerable. If you work at Citi, DB, or Goldman, you might live in the FiDi, TriBeCa or the West Village. If you work somewhere at a midtown bank, you might live in Midtown East, Hells Kitchen, or UES/UWS. There's no real answer to this question, though.
American Gardens Building on West 81st Street
Some of my friends are on Upper East, some in Long Island.
Where to live NYC (Originally Posted: 02/09/2015)
Accepted a SA at Goldman, will be living with a friend at MS. Trying to figure out where to live. I heard NYU is crappy so we've been looking at apartments.
What neighborhood is best? I've heard downtown clears out and Midtown is where the social scene is. Don't mind commuting as long as its close to an express line on the west side.
If you're going to be at 200 West, just live close to the R train line, takes you a block from GS.
Midtown and Downtown Wall Street. One of you is going to be stuck with the longer commute. A happy medium would be somewhere like the West Village, but rents there are going to be expensive. Maybe you can get him to compromise with somewhere like Battery Park City. Close to your work and he will have easy access to the 1 train to get to midtown.
Brooklyn. Take the R. Congrats!
I'm assuming you are interning in IBD. In that case, do not worry about the social scene. The only thing you will care about is how you can maximize the amount of sleep you get.
Good luck.
MS is in midtown and GS in TriBeCa. One if you see going to have a shitty commute.
Agreed with this. Also, taking the Subway in the summer is awful.
Battery Park City, Tribeca, and Fidi are within walking distance if that helps at all.
Just do airbnb and hop around from apartment to apartment. Keeps things fresh.
You think a banker working 120 hrs/week gives a shit about where he sleeps?
I can see OP and his buddy dragging a laundry bag around FiDi every Sunday switching apartments, because they took the advice of someone on WSO.
Battery Park would be the closest in terms of distance, but there are not many transit stations nearby so you would most likely walk everywhere except when you can take a car. Sounds fine, but when its 10 degrees outside like it is right now, that might bother you.
There are some nice residential buildings on on Wall street, Water street, John street, Broad street, etc that might work.
Live in queens to save monwy and uber to work ...trust me to money you safe offset the uber cost
Thanks guys, I'm doing GIR so it sounds like my hours will be slightly more normal (hopefully enough to have a semblance of a social life).
Is the commute from Midtown that bad? For my super day GS put me up in the Hilton in Midtown, walked the 4 blocks to 51st, took the 1 to 42nd and the 3 down to Chambers St. Didn't seem bad at all, took maybe 25 mins tops.
Live in freaking Battery Park City and walk to work dude. Total commute time 30 seconds - 3 minutes from door to door tops. Then get groceries at the giant whole foods across the highway.
Just do it.
I just moved to NYC and found a place in Bay Ridge, Brooklyn.
For the area and price Park Slope and Bay Ridge are very nice. The commute is also not too bad.
You would save probably a significant amount of money over the course of the year. Obviously you would be sacrificing the perks of living in Manhattan though.
man, phoenixfire, the tone of your post significantly understates how much one has to sacrifice by living in bayridge. try getting home after after midnight on a weekend.
i had a friend who lived in bayridge and i think he took turns sleeping on couches amongst his five close friends that lived in the city. i thank god everyday that I wasn't considered as one of his close friends.
What's the Duchess scene like these days?
Are you insane? Bay Ridge? What the hell dude? That's far off Brooklyn no one in their 20s and in their right minds would live there.
doesnt matter where you live... you'll be able to expense your cab ride home anyway given the odd work hours lol
Live in NYU, you can reserve a room week to week and will save money compared to a sublet. Don't have to worry about utilities, wifi, or laundry since it will all be included. You'll also get access to their gyms.
Even the "nice" dorms are pretty bad, but for the money and location its the best value.
Live in NYU, you can reserve a room week to week and will save money compared to a sublet. Don't have to worry about utilities, wifi, or laundry since it will all be included. You'll also get access to their gyms.
Even the "nice" dorms are pretty bad, but for the money and location its the best value.
Just don't end up in Goddard. Fucking Christ
Where to live in NYC? (Originally Posted: 02/15/2015)
I've never had a summer in NYC, and was wondering where are the best places to live.. I will be working where a lot of the banks are, between lex and 6th ave and between 50th to 55th st (aka Midtown?).. and would appreciate advice on housing.
Really, I'm looking for 3 things: 1)under 20 min door-to-door
2)reasonably priced (under 4.5k for 10 weeks) 3)be in an area that has a lot of other summer interns. In terms of my summer experience, I'm looking to be social and and go out meet people friday/saturday night, maybe host something at my place or go to someone else's, yada ya. Time permitting, of course.
Also, I have some friends that I want to room with, one in Citi and one in Goldman, which makes it tough. Are there any viable places to live besides union square? I've been told union sq is the best place to live given that BC its close to train stations and its also social with lots of summer interns.
So, what are the best places to live in union square? Do you recommend NYU dorms? Are there areas I should consider if I don't do union square, given my priorities? Maybe if I weren't constrained by living with someone going to citi/goldman, where else should I consider?
Really any info is helpful, I don't know anything. Also just any info on living as a summer in NYC is appreciated =)
There are NYU dorms right on union square and another just down broadway. I personally hate NYU dorms and they sometimes force you to buy a meal plan...fucking scammers...
I would look into living up in herald square too if you can convince your room mates to make the treck down to fidi every morning. Herald square is where I lived and there are some solid places. It's right next to a ton of stations too
Fuck meal plans
Going to be tough to find short term that isn't named NYU dorm. I would start looking at sublets on craigslist maybe and/or pray
Murray Hill is the land of interns.
NYU is easiest and the location is ideal. Unless you can find a sublet for that time period, your best option is a dorm. FIT and Pace are options also, but NYU's location is the best and you get access to the gym. You may be stuck with a meal plan and the food there sucks, so keep that in mind.
Murray hill looks very interesting. Is Union Square recommended? Is it close to where a lot of interns will be hangin and klubbin
I lived in Union Square when I was a SA (in an NYU dorm). The location was great, but I hated living in an NYU dorm. I was squeezed into living in a double, and I was required to buy a meal plan which I was never able to use (the dining hall was only open Mon-Fri). On top of all this, they did not put me with my friends (we all requested to live together). It was a complete joke and they are terrible to deal with.
I heard that if you live in the NYU Law School dorms, you do not have to purchase a meal plan.
Who to live with in NYC? (Originally Posted: 11/10/2009)
I recently got a job offer for an investment bank located in midtown. I am trying to get some general ideas for my living situation and would love some help. First off, where would you recommend living? I know I won't have much time so should I look into midtown apts even though I won't have as much fun as being downtown.
Secondly, I'm not familiar with the exact rents but I think I might have a hard time finding roommates---either not many are moving to NYC or they are earning less and want a shittier apt than I do. How did you all go about finding roommates? Did you ever try contacting the incoming analyst class to see if they'd be interested in living together?
Thanks.
Definitely look in Midtown, since your office is there it will make life easier. Murray Hill is a very popular neighborhood for young people. It's incredibly easy to get downtown for whatever reason but there are also lots of young people and bars midtown.
As for roomates, has anyone else from your class been hired into Finance or something earninng a similar amount of money. It's way easier to find a roomate before you leave school. Apart from that there is craigslist and roomate searches, but I'm not familiar with them, so can't give pointers there.
Worst case scenario, you could live by yourself, it would just be much more expensive. Congrats and good luck.
Craigslist can work but make sure they ppl are of similar background and education. Same with other apartmentfinder websites.
How shitty of an apartment would you have to live in? You don't need an extravagant place your first year, you will barely be there. There will be nights where you come home and go straight to sleep and if you get off early you should be going to the bar not the couch.
You can also work something out with your friends as far as who pays more. Find a place where one room is bigger than the others and you just pay a larger chunk of the rent.
Craigslist is an ok place to look for roommates, though it will take a lot of time to weed through all the postings. As said, definitely make sure that you are not going to feel like an outlier by education, career, or age. Looking at classmates or people you know would also be a good way to go; looking at your incoming analyst class might not be the best idea. You can also look on here if you want to find roommates.
This statement is completely wrong:
Midtown is definitely way more fun than downtown; there's nothing and nobody in downtown after 5 except for a few bankers. You'll want to live there both for that reason and to be close to the office.
You'll probably want to take a few days in New York to look at apartments; going with one of the big apartment buildings will be a bit more expensive, but probably easier to deal with and give you some useful conveniences that will make your day to day life easier.
your roomates should be crack whores and travestis.
Sent you a pm
Where to live in NYC as an analyst? (Originally Posted: 01/14/2009)
For transportation reasons, I am leaning towards Murray Hill (close to GCS and the 6 line). What does everyone think of this area regarding cost, location, people, dining, nightlife, etc. Thanks.
Another one of these? really?
bro you got plenty of bananas, surely you've seen at least ONE post on this.
murray - not much bang for your buck in terms of space/"nice" buildings. will get more expensive the more addons you get (doorman, elevator, etc.)
great place for young people, nightlife, dining (see curry hill) etc.
We're about to enter a Great Depression. Don't you want a president who's already dressed for it?
assuming you are working in midtown east, you can get a better deal living in the high 40s-50s on 3rd or 2nd ave and possibly be walking distance to work.
MH is def nice, but expect to pay $1700+ each for a converted 1BR with a roomate for a nice building with doorman
Lol where can I get between $1300 and $1500; I know that's hard but assuming I'm working near Times Square is that even possible?
You can live in East Village for that much with roommates... or Chinatown.
upper east side you can get a place wwith a couple of guys for 1350ish a piece
For a place between $1300 and $1800 in these areas that we're talking, what is the typical sq. ft offered.
My gf's place is in murray hill, over-priced and not a lot of space but swarming with talent and decent location for work/play
Talent? Did you just quote Ritchie "Bottles" ?
I lived in gramercy around the union square area when I interned in new york. Great area with plenty of bars to go to especially on 3rd avenue. I lived with two others in a three bedroom, brick walls, and new bathroom payed 1200/month w/o utilities.
Here's an example. I just moved into an apartment in murray hill. It's a 1br converted. I pay 1350 before utilities. Has a doorman, elevator, and rooftop.
"Talent" is a pretty widely used term.
Where to live in NYC (Originally Posted: 12/04/2011)
Hey guys, after I finish up my second year at my current HF job I am considering taking time off work to just ball out and what not. I am wonder where in NYC you guys would live? Money isnt an issue however I actually prefer brick buildings in up and coming areas. My great grandfather owned an auto garage and I always wanted to buy a building like that and turn the entire 1st floor into a garage. While having the two uppper floors into open floor plan living spaces. Since I have only ever lived in NYC for short periods of time for work and have stuck to the FiDi for housing I was wondering if you guys know of any areas that have buildings like that?
sounds like you need to look at obscure locations in brooklyn for that type of building.....from my experience, it seems like a lof of twenty-somethings are moving from manhattan to brooklyn...but i dont think brooklyn is for everyone...idk much about soho/tribeca..but you may wanna look in those areas..
Murray Hill and just be a hawk preying on newbies.
Come move to Philly if you want to live in the city and own a building like that.
Money isn't an issue? This might suit you... http://online.wsj.com/article/SB100014240529702048267045770748818212242…
[quote=pingafrita]Money isn't an issue? This might suit you... http://online.wsj.com/article/SB100014240529702048267045770748818212242…]
Haha, thats not bad. However not sure I could park a car in the pool, getting out would be a bit of a problem. But really I am not into the whole blowing my money on stupidly expensive stuff. Why spend my money on something that expensive when I could get something that suits my needs that costs a fraction of that much?
Yeah go ahead, move to Brooklyn with all the hipsters.
Doesn't Upper East/Upper West side have some brick buildings?
When will the hipster fad die? Brooklyn used to be a nice place.
Have you ever seen Date Night? Do you remembe Mark Walberg's apartment in that movie? I believe its in Greenwich Village somewhere, I walked past it once and recognized it.
brooklyn heights
columbus circle
Places to live in NYC (Originally Posted: 12/20/2007)
I'm trying to figure out whether or not to move someplace else in the city once my current lease is up in May. As a bit of background, 1.5 years in the city so far living in the financial district. The next time I want to move I'd like to stay for 2 or 3 years in that one location.
I'm looking for a place in the city with good neighborhood/local bars (places you can go every night of the week, cheap drinks, bartenders know your name etc) and handy for the subway as I work in Midtown.
I don't really care for the club scene, and can afford pretty much anything within reason. So, with this in mind, where do people live, why do they like them, any places to recommend, good buildings etc.
I'm aware that threads like these pop-up every once and while, its always good to refresh them as the city changes a lot (4 years ago the FinDist was shit with nothing open and its changed a lot since then).
Gramercy Park- probably the best area for delivery, decent bars, well placed for the village
East Village- Stuy Town, anywhere close to the union square stop on the 6 train
Murray Hill, on the 3rd ave corridor- lots of bars, a bit too fratty for some but not too expensive, close to all the midtown banks, (take the S for Morgan Stanley, bit of a walk for Lehman)
UES, mid 50s on 3rd ave- lot of cheaper bars, bit less fratty than Murray Hill, 6 train down
Soho, Tribeca is too much of a pain in the ass commute IMO.
what's the vibe on the upper west side?
Id reccomend, the Upper East Side, East 70s
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