Where to Live in New York City
Looking for any suggestions where a good place to live next year is, preferably outside manhattan
Looking for any suggestions where a good place to live next year is, preferably outside manhattan
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IIRC, IlliniProgrammer lived in Hoboken during his internship in NYC.
You can search his posts for Hoboken and you'll find some good stuff.
Forgot to mention Astoria as well. Found some really nice places for that range but I don't know if the neighborhood is what we're looking for.
Finding a place to live in New York City (Originally Posted: 04/30/2012)
Fellow monkeys,
I'm currently an undergraduate sophomore student attending a business school outside of New England.
I landed an internship position in NYC for the summer, and have started to look for housing for the summer (June-August). However, as someone's who never been in NYC apart from passing through JFK, the search for a place to stay has me a little anxious.
Where do I even begin my search?
I'm trying to keep the cost reasonable, as my internship is unpaid. However, I'd still like to be relatively close to my workplace in Midtown West/East. I've taken a look through Columbia/NYU/New School housing, but none of them are available anymore. I've also sifted through Craigslist for a few hours, and while there are certainly plenty of options out there, everything seems either a little too expensive or a little too sheisty.
The biggest problem for me is that I'm not able to physically check out the place before I move in. I'm not sure how much of an issue this will be, but I'm worried that I'll work out an arrangement with a person online/over the phone, and the guy will turn out to be some sort of psycho axe murderer, like a Patrick Bateman with no money.
Any advice on where I can start looking?
Thanks, fellas!
Don't know much about housing directly in the city. But, if you can't get directly in the City there's bound to be a shit-ton of spots in Queens, where you can take an easy commute on the LIRR into Penn Station (34th Street and 7th Ave)
you can still get into NYU if you take a class ($300 or so for the class, and I only paid $200/week for my dorm although I had a roommate). read my comment in this post.
Most colleges in NYC with dorms will except you if your just interning you dont have to take a class... NYU has dorms in the village which are very nice and close to midtown you should check those out.
google CCNY the towers, or Hunter college dorms...
Thanks for all the responses, guys!
I've been doing some research, and it seems that Hunter College's summer housing is ridiculously expensive considering what you get. It's $2000+ a month, and I'm sure you can find much nicer places than a dorm room for that price.
How do you guys feel about Columbia summer housing? It's located in Morningside Heights, and the place that I'll be working at is right next to Grand Central, or Midtown East. Is this viable for me? The best thing that it has going for me is the convenience -- I don't have to worry about getting internet set up, or my toilet breaking down. I especially don't have to worry about some shady landlord, since I'll never even be able to check out the place.
I appreciate all the input, gents. Keep it coming, please!
Maybe look into School of Visual Arts, there are a few spots left in their Ludlow residence. I think it's on the lower east side but it's not terribly expensive
Thanks, notaspammer. Looks promising.
Would you guys rather be living in Morningside Heights or the LES? Looks like the SVA residence on Ludlow is a little closer to where I work, but only marginally.
Thanks again for all the input!
Living in NYC being a first year IB analyst at a BB (Originally Posted: 06/02/2007)
I was thinking of renting a studio for about 1500-1800 monthly, making sure that is in a good neighborhood and close to the financial district..
Where do generally first year BB analysts live in NY::????
Any coments welcomed::::
I can't speak from experience, but from what I hear, many live in Hoboken, NJ, as it's much cheaper.
Share an apt. Go on Craigslist and look under shares. Save yourself some money, after all, we are not making money for quite some time. And even then...
Fibows, Hoboken is cheaper, but it is not super cheap either. Plus, dealing with the PATH is the last thing you want to do at 2am. Even on a weekend not as a banker.
Live close to your bank, not necessarily fidi. Most analysts I know try to live near work.
This is the type of question where you have to step back and ask yourself, is this relevant to bankers only, or is this just common sense?
being close = less travel & more sleep better way to go 4 IB
I'm renting a studio for about $1,700 in Midtown East. Definitely not planning on live outside the city.
like many say,
last thing you want to think about before and after work is,
"damn...i hope that train's on time..."
again, your weekend worsens by commuting..
go for a place in the city.
Tell some girl at the bar in Manhattan that you live in Jersey and you will never get pussy in Manhattan. Hey baby, want to wait for the PATH train with me for 45 minutes and go back and fuck me? Your dick better taste like strawberries.
Best post I've seen on here in a while, lol.
I wish I could laugh, but the Jersey cock-block happened to me a little over a year ago. Needless to say, my dick doesn't taste like strawberries...(i've heard). I quickly found a place in Manhattan.
Yeah, whoever said most analysts live in Jersey is just wrong.
I am living with 3 other bankers in SoHo for 1500 each. Most people live in Midtown East (Murray Hill) or West (Hell's Kitchen).
As for living near work, I hear that people who did that said it was the worst decision they ever made. Living farther away allows yourself to mentally leave the office. If you are in the same neighborhood you work, every time you walk down the street you will think about stuff you should be doing for your boss. This was told to my group by numerous people!
How long before work starts are you guys moving in? I'm trying to take a trip before I start and don't know how close to my start date I should cut it...
You can get a MUCH bigger place in Hell's Kitchen than in Soho for the same dough. Some of the SoHo places I saw were really absolute shite. Also, being close to work is HUGE especially when the weeks get long.
If you're in Murray Hill, the "not being able to leave work" thing does apply to some extent. In my opinion, Hell's Kitchen has a completely different feel to it than Murray Hill .. I would suggest you take a look.
Don't even think of Jersey.
Moving to NYC - need some help about living options (Originally Posted: 08/05/2014)
First post here: I'm moving to NYC within the next 1-1.5 months or so for a new role. Job (not IB) will be 60-70/hour week range and total income including bonus will be around $300K. I'll be turning 30 soon and am married (no kids, and no plans to have them in next 2-3 years at least). Wife (not in Finance/Banking) will look for a new job.
I'm just looking for advice on someone at my level about living options if my requirements are a 2 bedroom and say 1K sqft and commute time of max 30-40 mins from lower manhattan. Restaurants/bars, etc. (or at least quick access to) would be good to have obviously.
I don't know NYC well but have been researching it but options seem to be Financial District/Battery Park (can walk to work), Hoboken/Jersey City (can save on taxes and get a nicer place for less) or certain areas of Brooklyn right across the river. I'd also like to keep rent at $5K if in NYC (or $4K if in Jersey). Not sure at $5K a nice 2 bedroom is doable in Manhattan? I will be put in temporary housing for the first month or so and employer will pay for broker fees, etc. Just trying to get a sense of areas I should concentrate on. I also understand I won't be paying NYC tax of ~3.5% if I live in Jersey.
Cheers!
I'm not sure what you are asking as you seem to have it down. Tribeca is the most expensive neighborhood in the city but you can absolutely find nice 2 bedrooms in doorman buildings around 5k-5500 in the Fidi/Battery Park City/Tribeca area. You won't be in the absolutely best buildings but in good luxury buildings for sure. Same with 4k Hoboken even right around the Ferry/PATH terminal. If you live uptown like UES or UWS you could find the same with a more residential feel if you want that. If you work around like world financial center I think Hoboken is actually more convenient than brooklyn/uptown because the ferry let's you off right there and is a much more pleasant experience than the train on top of being a quicker commute than brooklyn/uptown to that area around WFC.
If your company will pay for a broker than just go that route but otherwise just Google around for luxury buildings in areas you like and contact their leasing offices directly because they'll gauge you for 15% of the lease amount in some cases now. You do save on the 3.5% city tax if you live in Hoboken. Lastly I know you said your total income will be 300k but it does matter how much of that is bonus because if your base is 180 you wont qualify for a 5k apartment in the city. At least 40x is the standard.
Thanks, what I am looking for is just general feedback on neighbourhoods and any info on other areas or things that I may now know about being an outsider that I could consider given my situation. For example you mentioned that UES and Brooklyn will be more of a hassle to get to WFC than from Hoboken/JC. I guess a follow up question is also then can I really experience NYC life (restaurants, bars, events, etc.) with the same convenience from Hoboken/JC as-well?
Also thanks for info on the 40x rent. I had read about this but always understood it to mean 40x rent in total income. Not just base salary. In that case my base will be around 150-160K but the employer said they would give me a letter with total expected income which I could use to show buildings/landlords when renting out.
Regardless I will use the broker but just want to do some diligence for before my arrival.
Personally I like Hoboken. It's a more village type feeling. Trees, brownstones, small pubs and shops everywhere, etc. PATH runs 24 hours to the city but it is annoying late at night because it's only every half hour. You can of course get cabs back but that'll run you around 40-50 a trip. Very convenient to take the ferry to work if you work around the world financial center. I just moved from Chelsea to Hoboken and my commute time stayed the same (20-25 minutes door to door) for a building in that area. Ferry is more expensive than the subway but I live in a nicer place than I did in NY for less money and i'm 3 blocks from the PATH/Ferry. Jersey City dies at night so I wouldnt live there but if some people like how quiet it is and there are nice luxury buildings there.
Tribeca is a great mix of offices, trendy bars/restaurants, shops, etc. It's just become the most expensive neighborhood in the city. Battery Park City is right there and is nice and on the water. If you value your green space there is a decent amount there. It's very family heavy and not tons of night life but you can obviously subway/cab easy to nightlife. Fidi similarly has a lot of nice places to live but dies after happy hour. The village is your most trendy location with everything you could possibly want. West village is a little more upscale IMO. Chelsea, Murray Hill, and Gramercy are all pretty interchangeable to me. Nice places, some green space, some ok nightlife, etc. Probably good middle ground. Murray Hill is a little too midtown for me as I try to avoid midtown at all costs because of it being flooded with tourists. And then of course you get to the UES and UWS which are more residential and family friendly. A little quieter but good food and ok nightlife. I like the UWS more than the UES because I think there are more good places to go out and better food overall. The UES is kind of a barren wasteland of shops, nice buildings, and families between like 64th and 86th which isn't really my style. But I do really like the area around the 86th street stop in the UES. Tons of new construction and cool new bars/restaurants between like 82nd and 90th. I can't speak to Brooklyn so much because I dont spend time there. The only place i've spent time is Williamsburg and it's kind of a pain in the ass to commute for me to that area.
Also, for the 40x thing. If your employer is willing to put on paper "Expected annual income of 300k" you should be fine (can't promise as I haven't been through this). The problem often becomes when your bonus is really variable (which happens with finance types). My employer wont give an expected income this year (though they'll give prior years bonuses) and that did cause me an issue when I was looking before because my base was like 35x. It'll be something to think about and it wont be uniform across all places you see.
HTH
That's a ton of great information. Much appreciated. I'll adjust my visits to the neighborhoods and discussions with the broker, etc. based on feedback such as this so this should be very useful.
You can easily get a luxury apartment in Hoboken with everything you want in your price range. I really can't comment on NYC as I don't really know what you can get for that price and have never lived there.
As for Hoboken, you can either live downtown by the train station which gives you access to the PATH, Ferry and NJTransit Bus and train services or Uptown where you have the Ferry and Bus. Downtown has a younger crowd, is louder by all the bars and the buildings are a bit older. Uptown is quieter, newer and you see a lot of young families around. You can find a place by the water (right by the ferry) that will run you around $3,000-$4,000 for a 2br 2ba 1100-1300sqft, a lot of these place also offer a shuttle service to the PATH. The Shipyard and Maxwell Place are two places that come to mind.
Personally I like the buildings in and around Battery Park City. Overall it's a great neighborhood.
Thanks. Hoboken, Battery Park and FiDi are the main areas I am thinking of checking out due primarily to access to WFC.
Finding a place to live in NYC? (Originally Posted: 01/14/2013)
So I just got some good news and will be moving to NYC for a 6 month equity research internship. I will be starting at the end of march and finishing towards the end of September. Can anybody offer any suggestions on finding housing for this 6 month period?
Thanks,
Ari
I think craigslist is a good place to find subleases...
Live in NYC (Originally Posted: 11/09/2006)
I am interning in NYC from January to March and am trying to find somewhere to live.
Everyone I have talked to has recommended Craigslist, but that has pretty much been a bust...just wondering if there are any other resources out there or if I should just eat the cost and hire a broker? Any broker experiences/recommendations would be much appreciated.
No f'n way you should talk to a broker for a 3-month stay!
Dial down your expectations somewhat, and craigslist is usually a decent way to go. I say keep plugging.
yeah with NYC you gotta dial down your expectations.
Craigslist is the best, check the roommates section because there is really no reason to rent something solo for a 3 month stay
Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
If not, ring the HR to see whether they have a company preferred real estate agent, who can help you finding a place.
Check craigslist and sublet.com. No point in paying commision to a broker for a 3 month stay. I did my summers earlier this year and found a pretty good sublet through craigslist.
Living in NYC - Going to school in Boston (Originally Posted: 12/21/2010)
Hey Guys,
I'm from Chicago and go to school in Boston. I've never really been to NYC for an extended period of time. I've only been there twice for 2 superdays so I haven't really gotten a chance to experience it. I got an offer for an Investment Bank located in on the northeast side of midtown. My salary will be $60,000, not sure if this is standard for IBD or what but I figured I'd give let you know so you knew the price range. I'm wondering if any of you could tell me what the best or most convenient areas for me to live will be. I don't want too have too long of a commute, probably no more than 20 minutes by subway. Any ideas? Where do most first year analysts live?
Thanks for the help
Live in Murray Hill
60k include signing bonus?
Nah, 60k as just the base salary but signing wasn't at all that much really
That Murray Hill song is pretty funny
70k (without signing bonus) is standard 1st yr salary nowadays...at least for BB
Yea i mean i figured the salary was a little low, but this isn't a BB. Signing bonus wasn't that great either. At this point i'm just hoping they make up for it with the bonus. But can anyone tell me about the housing situation? Is murray hill actually an option?
Murray Hill or Astoria or UES... although i think UES sucks, id rather hells kitchen and walk crosstown to work
Murray Hill, its close to grand central so its easier to get around.
depends what youre scene is and what area you enjoy. def get roomates, and you can generally live most places on 60k.
midtown and UES will give you the most bang for your buck, but if you're downtown always, might consider evillage or LES. i lived in a nice tribeca doorman high rise with a roomate (converted 1br) on 70k just fine.
What about chelsea?
Where to live in NY? (Originally Posted: 10/09/2013)
Hey - I'm moving to New York and am looking for a place/housing/roommates. Do you guys have any advice on which areas to live in? I'm mid 20's and am a bit past the college stage. Our office is in Midtown East.
Thanks for any help - also if anyone is looking for a roommate, please get in touch.
Regards, Booger
How much will you be making? That's generally the most helpful bit of information.
80 base - you're right, should have included.
yeah, it totally depends on how much you're making remember, the rule for rent is:
SALARY PER ANNUM/40= rent per month
so... if you're making a nice, round number... 40 k per year? then that means you have $1000 for rent per month
assuming you want to live somewhere nice, you might need to get a roommate if you're in finance and can afford places on your own, look into places in midtown
How would you describe yourself: a. Frat bro b. Hipster c. Yuppie d. Other (please explain)
@duffmt6 and @yeahright thanks, guys. sb'ed.
Can anybody chime in on what my options would be at 55K? Probably no bonus and the office is in midtown.
Will really depend on how many people you are living with.
Assuming one roommate: FiDi, Harlem or outside Manhattan. Maybe some places in the LES or close to the FDR/West Side Highway.
Thanks all. Any other comments? 80 Base with likely 50-80% bonus.
Where Should I Rent? (NYC) (Originally Posted: 12/22/2010)
I'll be in NY over New Years and what to check out some buildings or at least areas. Office will be in Tribeca, roommate's office is on Wall Street.
What make the most sense for us to live in? Main concerns are price (around 1,500) and commute (easily walkable or near a subway), but it'd also be nice to be in an area where it's easy to go out / meet people.
Specific building names would be welcome as well.
My office is in Tribecca too, planning to live in FiDi.
Fidi is cheap / murray hill. Brooklyn one stop away is good as well I hear if your willing to commute like 15 minutes, more space etc.
Im going to be working in World Financial Center, kind of in the same situation. I am willing to commute a bit (no more than 5 stops on subway though). What areas of Brooklyn would you recommend, I am definitely interested if it isnt to far and saves a good amount of money. The places in FiDi I saw are pretty damn small, found the murray hill/gramercy park area much better bang for my buck, will brooklyn be even cheaper then those two areas?
From my experience Park slope seems to be the best spot as it is right across the bridge, also Williamsburg. I know park slope is considered one of the nciest parts of brooklyn. The subway is 1-2 stops away and take 10-15 minutes from FiDi
Brooklyn will definitely be cheaper, or you will end up getting 1.5-2x more space for the same price. Unfortunately because of my midtown location I find it not as accessible.
Check out nybits.com.
West Village or Tribeca. Don't live in FiDi unless you have a desperate need to save money. You'll be sorry.
Murray Hill and Grammercy Park look a little far, but I can't really judge the actual commute just looking at a google maps screen.
FiDi is obviously close, but I heard it kind of blows to live in.
West Village looks like one of the better options.
Rent in NYC - Places to stay? (Originally Posted: 12/22/2010)
I would be moving to NYC for a job. Could you tell me some places where I could rent and stay?
Seriously dude? Search function, google, all that...
I think this topic has been posted/talked about ad nauseum a ridic number of times the past month or so
live in east new york or brownsville, beautiful areas.
i agree. i hear canarsie and queensbridge are up-and-coming areas.
those are nowhere near the caliber of ENY or brownsville though :P ocean hillllllll
Queens, all the rich people/royalty go there to find their wives.
Anything in BK is top tier.
west village
Lost: Senior Needing to Find NYC Apartment (Originally Posted: 03/19/2009)
Hey Guys,
So I am a senior moving to NYC for a July 1 start date. I feel so lost in how to start the apt search process, so I'd really appreciate any comments or advice from the great people on this site.
How do I start? I was thinking about mapping out neighborhoods that would be decent. Problem is I don't really know what is good, bad, or ugly for fresh out of college kids....Any advice?
Do I get a broker? If so, who are the best? Are they neighborhood-specific? Is there any ways to just talk to buildings?
Are there good websites that just talk about NYC real estate and building openings?
As you can see, I am pretty worried about this. Anything you got is appreciated.
I'd be interested in hearing about this as well.
I start the same day as you and given my location I'm thinking Union Square, Murrary Hill, or Gramercy Park area right now.
Fuck and I have to find a roommate...ugh..
Check out :http://www.nybits.com/, pretty good site. I live in Murray Hill and pay a lot for an overpriced apartment, but I found mine in 2007, during the boom. You should find it relatively easier to find a cheaper one now. Also check out craiglist.org of course. Let me know if you want me to dig up a few more sites/resources.
this has been discussed a few times. run a search.
i would avoid brokers since you will end up paying them anywhere in the neighborhood of $3-6K
at my old firm, we used to shoot out emails to each other for people looking for roommates (roommates were moving out and needed new blood, etc).
depends where you work as well. I've seen more and more people living in Jersey City if they're working downtown (DB, Citi, GS).
Some people made the journey from JC to midtown as well. They all run relatively about the same. Murray Hill/Union Square tend to give you less bang for your buck making them more expensive than the UES (see 80s and above).
The world has changed. And we must change with it.
The mkt in NYC is really soft. You will find a ton of no-fee brokers these days... the caveat is that the buildings they take you to are "no fee or 1 month free." Meaning if you walk into the building on your own the apt will be 1800/month, with 1 month free. If you walk in with a broker, the building will pay the broker and you will not get a free month since the building paid the broker fee.
Best way to do it would be to check out CL... if you're close by and you have a friend in NYC, stay at their place for a few days and walk around the city and walk into random buildings.
As far as what areas.... depends where you work.
I'd strongly recommend using craigslist. Always some decent sublets and apartments posted there.
As for where you want to live, it really depends on where you're working, the hours you're working, and how convenient you want everything to be. If you're working 80-100 hr weeks you'll want some place closer to work even though rent will be more in the financial district. If your hours are more chill, you can move further from work.
Outside of finding someone from school as a roommate in NYC, what other methods do you recommend for find ing a roommate?
whats there to be worried about? how does something like this get you frazzled. As a kid, I've moved to cities and looked for housing on the day I arrived (not recommended of course, but just saying).
Agreed. This kid needs to grow a pair
Rental prices are dropping across the city, but there are plenty of landlords still trying to charge prices that are way too high. Large complexes are the best bet right now, because they don't tend to hold out like the small landlords do. So you can get reduced rents, get them to pay the brokers fees, and also get 1-2 months of free rent.
An example are the Trump buildings on the water front on the west side. All of them have tons of vacancies, no brokers needed to rent, 1-2 months free rent, and even their own agents clearly state that all rents are negotiable.
Cheapest neighborhoods are still: Financial District, UES (east of 3rd Ave, and way north). Then probably Murray Hill. That said, LES is now cheaper than all of them, but fewer large buildings means your search will be tougher.
Financial District is a pain because so few people work there anymore (almost everything is in Midtown), but prices have always been cheaper than the rest of the city, and they way overbuilt luxury condos there. Those are in turn going rental, and prices are dropping like a rock.
On Central Park itself (UWS or UES), SoHo, West Village, and Tribeca are mixed bags. Lots of places maintaining high rental prices, but also lots of deals.
Craig's List is a great resource, and so is contacting large buildings directly. Brokers could be worth it if you can get their fee paid by the building. For an internship I'd just stick to Craig's List....
I never thought of just saying fuck it and looking for an apt when I show up....thanks for the advice SAC
to the rest, thanks for the real talk
Negotiated price down by $300 a month, plus no brokers fee and 1 month free on a nice hi-rise in UES 80s. Inquired to a post on Craigslist, which are normally posted by brokers but mostly all are no-fee. I decided on this one after 4 months of looking online everyday and seeing ~25 places in person on UES, UWS, Murray Hill, and Midtown on both sides. Chose based on best combo of area + apartment/building + rent.
Don't work in the city and have a car, so didn't need to be very close to subway and made the tradeoff of taking a nicer place further away. If commuting within the city, I def. wouldn't want to be more than a couple minute walk from subway.
In my 4 months of looking, I've seen the most bang for buck in the past 2 weeks. Places are going for hundreds less than same time last year and even compared to just a couple months ago. Spring is normally a time where the market picks back up, so either this development will soon temper OR the environment will continue driving places down.
Also, if looking for a roommate, checkout the "Rooms/Shared" section on craigslist.
I had a question - I heard in the boom days, landlords would simply accept offer letters for proof of income needs. With a salary of only 60k, how are people supposed to lock down an apt when you need to make 40x the monthly rent, of say, 1700?
Besides a good credit score, what other documents do you need to produce? From some of my reading, it seems like you need to have held down your job for at least 2 years, make much more income, and have supplementing paystubs and tax returns. How is a recent college graduate supposed to get an apt? Any insight is much appreciated.
You'll also have your $10k signing bonus, so you get bumped up to $70k, so the 1700/mth is now doable with the 40x requirement. But really, while they say 40x, it's not really a strict rule (at least, that's not what I faced with my building mngt, and also I know a colleague who was able to get a 2000/mth place without a co-sign). So long as you show you're employed with a steady income, that's good enough for them. I imagine it should be even easier now given how soft the nyc market is now.
All I had to show was my offer letter with proof of base salary and bonus. Also confirmation of my visa status. I didn't even have a credit score since it takes awhile before you can get a credit card if you're not from the country...
Honestly, it's much easier to get a place with a roommate - esp. where the person is already living there and they are just looking for someone to resign a lease with.
Wherever you decide to live... it's key to be close by a subway (under 10 mins).
I would echo the advice given here.
Plan out your budget. I would not plan on spending more than $1,500 a month on rent. You're after tax pay check should be around $3k month after taxes. Think of all the extras you need to spend on. Metrocard ($81/month), dry cleaning/laundry ($100/month), health care premiums and co-pays, 401-k matches, gym memberships ($100/month is typical, some spend less, some more), utilities ($200+ month, can be split with roommates). Then take out $20/day for breakfast/lunch/starbucks/snacks. Then take out the sorta discretionary spending: drinks, dates, clothes, weekend trips. If you have student loans, take out a payment for that. Then whatever you have left (if any) can be spent on models and bottles.
The "free month" rent scenario does reduce your effective rent, but remember that your current income needs to be able to support the monthly payments not factoring in the free month. the free month is typically the last month of the lease. I had issues with my landlord accepting my relocation bonus as part of my income, some are more flexible, but most if not all landlords know that wall street jobs aren't that stable right now.
Not to be pessimistic, but your first year is going to be TIGHT on cash. Your first bonus payment will make things much better, but until then, it's going to be tough unless you have mommy and daddy chipping in.
Some tips: 1) Avoid brokers, you'll pay for them somehow 2) Be realistic about travel time, if you're working a lot, you don't want to be far away from the subway to get in. Budget in a few cab rides to work because you're simply too tired to walk or take the subway. Budget in a few rides back from a night of drinking. No matter where you live, you're likely to be drinking on the other side of city. 3) Get a roommate. It is very difficult to get a decent studio for under 1500. Ideally, you want a doorman; you need someone to collect your laundry and any packages (online shopping)
Many analysts (including myself) live in converted apartments. NYC has zoning laws on the minimum square footage a room can be before it can be considered a room. To get around this, many people put up a pressured wall in the living room to create a second bedroom. Look for a living room that is long enough to be split. My current apartment is 24 feet deep, creating a sizeable living room and extra bedroom. Most apartments in New York city are between 18-22 feet. You don't need a dining room in your apartment, just enough room for a couch, coffee table and a nice flatscreen tv.
I would also plan to visit new york once to get a feel of different areas and to see a few apartments. Then select an area that you want to focus on and come back and select your apartment. There are many cheap hotels that you can stay in on hotwire/priceline and there are also hostels available if you want to save even more.
PM me if with a few details if you need some more help. Where you're working (cross streets) and where you are looking. I know of a few 1st and 2nd year analysts leaving and may be able to point you in a direction of open rooms or open apartments that work well for bankers.
eric - great advice. I'll probably shoot you a PM tomorrow about a couple things.
Hey Guys,
I'm also a senior looking into apartments in NYC, and I was doing a search for threads on this topic. A lot of the advice on this thread is great, but I had a question about furniture. Are most apartments already furnished? If not, where do people usually get furniture? I'm thinking moving in without furniture would be a real pain... Any advise appreciated. Thanks!
Entry level leased apts usually come absolutely bare. If you don't come to ny a few days before you start, you can use online mattress places like 1800 mattress, i'll let you google, they'll deliver the same day. Best place I found to get furniture is craigslist. Lots of nice couches people are looking to just get rid of. Other than that, Ikea, even though I hate the cheap crap, it's the only thing you can probably afford to furnish everything.
Where do you search for NYC apartments? (Originally Posted: 11/10/2012)
Besides Renthop and CL, are there any other good sites where I can look at listings?
.
good site, but some of those prices seem too good to be true. Studios going for 1600-1700 in Manhattan. Will keep searching though
padmapper, streeteasy, nybits
(personally I don't have any experience with those but worth a shot I guess)
Transferring to NYC. Advice on finding a place within the next month? (Originally Posted: 04/24/2013)
I know this topic has probably been discussed at some point but, I need to find a place to live for mid-June. Offices are in mid-town and any advice on where to live, how to go about finding places/roommates is appreciated.
Im moving from London so will have limited time to apartment hunt over the next month or so...
why dont you connect to this guy
http://www.wallstreetoasis.com/forums/subletting-in-nyc
Here you go: http://www.wallstreetoasis.com/forums/official-2013-roommate-thread
How easy is it to find a place in NYC? (Originally Posted: 10/02/2012)
Going to be a 1st Year starting next summer.. I'm planning on moving to the city. How long did your apartment search take? Did you opt for roommates... people you already knew? Searched for roommates? got a 1BR? Etc.. What is a REALISTIC amount of rent I can expect in Manhattan (in typically an area meant for a younger crowd)
http://ny.curbed.com/tags/rental-market-reports
Looks like you can expect around 1500 to 2k.
It honestly is all dependent on luck. I don't care what anyone else tells you, it's luck.
I live in Greenwich Village in a full 1 BR with a separate full bathroom, kitchen, and living room. I live with my girlfriend and we split a $2200 rent. The apartment is awesome size, walkup building, awesome location.
Then I know someone who lives in Midtown shitty West and pays $1050 for a 3 BR with three other people, a living room/kitchen combo, and like 8 floors to walk up.
It's all about timing.
Agree that it's a lot of luck. Found my apt on my own,but was lucky to view it and grab it before others did. Timing just worked out. Started looking a couple weeks before job started. Would've used a broker if I didn't find on my own fast...but gotta get good word of mouth referral so you get a reputable one. At the price point you are looking at they aren't all that interested in helping you.
live -where? how expensive? (Originally Posted: 11/17/2006)
Anyone working in NYC looking outside Manhattan? JC/ Hoboken maybe? Whats the range of rent in Manhattan vs these places? If you get a Limo ride home at night anyway, isn't it worth saving some money and live outside Manhattan?
I'd guess you wanna live as close as possible.
I mean, when you are working 80 to 90 hours a week, you want your home ASAP when you get off from work 3:00 at night cuz you know you'll be abck in the office 8 in the morning.
agreed with ziggy, that commute will add up + you really don't save that much money, until you are 40min+ commute or you want to live in the ghetto
Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
Manhattan (will vary by area) - Studio $2000+, 1 BR $2500+, 2 BR - $3600+
Jersey City (Newport) and Hoboken - Studio $1500+, 1 BR $1850+, 2 BR $2700+
To the people who work downtown: (Originally Posted: 08/08/2007)
If you work in the Financial District:
Thanks for the help.
bump
Good Luck to you.
I left the city a couple of months ago. This data was valid at the time I left.
90 Washington (Washington/Rector)
$2575 -- studio
Walk 20 minutes. Subway took around 12 minutes but I never took it -- why not save four bucks a day and get some fresh air?
Commute sucks and you never go anywhere. Same.
Broker.
Take more time, look at more places.
I guarantee whoever posted this is getting credit and/or being paid for asking these questions.
Congratulations for responding to a survey. . .WTF
or it's someone who's potentially going to be working downtown and trying to get a feel before he tries to get a place of his own? i could see it being a survey but i dont think it actually is
Thank you ToBankOrNotToBank, that is exactly what I'm doing. Didn't think I'd hurt any anti-survey sensibilities.
NYC Housing and Commuting Times (Originally Posted: 03/27/2011)
1) What's the average commute time for people working in IBD? Optimally, it'd be 0, but how long does it take you day to day?
2) How does a 20-30 minute commute each way sound? Is it manageable?
3) What's the best place to live considering price for those working in midtown?
20-30 sounds terrible in the morning (unless door-to-door). at night your bank will comp your car ride back--black cars are cool at first, but eventually you'll just take the fastest taxi home.
best places to live from midtown -- Chelsea, or Murray Hill
Ignoring the fact that 20-30 minutes is a bit long of a commute time, it wouldn't put you anywhere desirable to live anyways, considering 20 minutes from Midtown puts you either in Queens, Brooklyn, or way uptown.
Mine is 90 minutes away...is everyone only 20-30?!
I live in Murray Hill and will still have at least a 20 minute commute to my Midtown West office. Been told by some analysts in S&T that they just take cabs to work, as the $10 bucks is worth a helluva lot less than the 40 minutes more of sleep you'll get.
^90 minutes away from an IBD Analyst gig? Holy shit dude.
20-30 MIN IS GOOD
FARTMAN
You can be 90min from UWS to GS HQ if you take the train door to door. DOn't do it.
Sleep under your desk and shower at the gym.
You can be 90min from UWS to GS HQ if you take the train door to door. DOn't do it.
Sleep under your desk and shower at the gym.
Living on 10th Ave or beyond. Too far west? (Originally Posted: 06/16/2010)
Do any of you live on 10th or 11th aves In New York? I'm trying to find a nice unit in the city and it seems that there are plenty farther out west at relatively reasonable prices (Victory, Helena, etc). Problem is how far they are from subways and the rest of civilization in the city. Would appreciate any thoughts you guys have.
http://media.lawrence.com/img/special/steinberg-newyorker.jpg
This is kind of related but your post made me think of this picture
I don't need a shitload of conveniences at my door step but the subway/train nearby is nice to have. Walking is for fatties and poor people.
Great picture, but not sure why Nebraska and Kansas City are there.
Victor, I agree that subway and train nearby are nice. Hiking 15 minutes just to get to the train is what could annoy me.
i strongly recommend that you not live that far out.
when you're in NYC, everything you do requires the subway system (unless you cab every time). this means going out to the bar, visiting friends, going on vacation, getting to work, going to the park/museum, concert, everything. so if you live 15 minutes from the subway, EVERYTHING you do now takes at least 30 minutes longer.
in addition, living 15 minutes walk from a subway station does not mean your trip is ONLY 15 minutes longer. there are fewer stations out there and you are only close to 1 or 2 trains, possibly only local. that means you will need to wait longer at the station (SIGNIFICANTLY longer on nights and weekends) and that you will need to transfer to get to where you are going. as opposed to living somewhere with lots of trains (think union square) where you will have a lot of train choice.
unless it's a very tight money situation, you should just look to room with more people in slightly less conditions somewhere more convenient.
sent you a PM
you definitely wont impress chicks living out in the boonies either as a side point...
Don't do it. You might as well go all the way and live in New Jersey instead
I-Banking: Working Downtown Living Uptown (Originally Posted: 05/24/2010)
I found a great deal on a full-service 2 BR place near Port Authority with gym, doorman, etc. I'll be working downtown at a BB and will need to take the A,C,E which is manageable from the Port Authority area.
I'm looking for some advice on whether this location will be too far to manage once I start getting killed at work.
Thanks.
If you're living in the city and paying city rent, you shouldn't have to commute longer than 20 minutes total. What's the point.
All I know is my office is in midtown and my apartment is within walking distance...that's what matters to me. I went a little over the top in terms of "niceness" with my place, but, coming home to a nice apartment in a nice area after work is essential for me.
I wouldn't recommend living that far away. As a first year you work insane hours and that hour commuting could be spent getting some much needed sleep. The FiDi is much cheaper since the real estate crash, you should be able to get a really nice JR 1 BD for less than $1250.
Really??? This is good to know, I will be on the street for work and thought about Ft. Greene, Prospect Heights, Park Slope areas to live, budgeted around 1500. The max commute I want to take is 20 minutes. From what I always heard FiDi was extremely expensive but I am going to look into it.
Thanks
Not in this situation yet, nor will I be in NYC, but when working so many hours a quick walk home would be the longest commute id want.
Can also take a quick walk home on a break if you need anything, shower to freshen up, or take a quick nap and get back to the office.. i dont know, but the last thing you want is another hour/day of commuting
Thanks for the insights. My door to seat commute would be 25 minutes give or take. Unless I live in FiDi, my commute won't be less than 15-20 minutes anyways so I'll deal with it. The place is too good to pass on.
Why not Exchange Place, Jersey City? 5 minute train ride under the river to tax-haven NJ from the World Trade Center. Save $350/month in taxes and get a really nice view.
I love how you plug Jersey in almost every post. I worked in Exchange Place one summer and did the reverse commute from 33rd and 6th, do they have a stop downtown too ?
illini I think you edit every one of your comments at least 5 times.
staten island is where the deals be
-bustin balls and banging hoes
Getting on that ferry sucks ass
Living in New York (Originally Posted: 11/13/2009)
To the investment bankers living in New York: How do you like living and working in NY? Given a choice of other office locations, would you still choose NYC if you could go back and make that decision again?
I am asking because I am comparing different office locations and would like to know if you think that choosing New York is worth giving up the other office locations I could work at (ex. LA, SF, CLT). The obvious draw to New York is the fact that it is a financial center. I think that getting the opportunity to start working in investment banking there would be an amazing opportunity, and I can't think of a better time to get that experience than right after graduating from college. New York City also sounds like a fun place to spend a few years, and I would like a chance to get to know the city, at least to the extent that I can as an investment banking analyst.
With that said, though, it is also very cold during a good part of the year, the cost of living sounds extremely high, and I am sure that any apartment room I could afford is going to be a squeeze compared to other office locations (I am mainly comparing NY to CLT). I have heard many analysts talk about how much they hate those aspects of living in New York, and now that I will have a choice I am wondering if I should actually go for New York or avoid some of those issues and head to CLT instead. I have been interested in working in NY for a while, but now that I actually am going to have a choice I am not sure what to do.
Thanks for the input!
I am wondering the same thing actually and I hope others offer good guidance. I have heard that in NY, bankers (even analysts) are typically much more cut throat then other locations. Is this true? Would it be more laid back in a office in like Atlanta or Chicago or even Charlotte as opposed to NY?
NY isn't all that cracked up to be, its mostly because people associate finance with NYC. I would say go to where you like your GROUPS (you'll work 100 hours with them) and where you like the PEOPLE. Once you start working you'll realize that this is the number one most important. I'd rather be in Ohio with cool people than in NYC with dbags.
I have the same decision to make. I'm leaning towards Charlotte for the same reasons already mentioned- I like the group, it's obviously a better cost of living and it's just a more laid back lifestyle. But I'm concerned about the exit opportunities. I feel like it is worth it to go to NY for 2 years because of how much it will help with PE, etc. Does anyone have any input on this?
I think I'm with 1styearBanker on this one. Your first priority should be to like the people you work with. If you can't stand them it's going to be miserable for you. Plus, working in NYC is really no big deal. I don't live in the city but I do commute into it. You'll enjoy the first 3 months because its all new to you. Then it'll be really no big deal, and, if you're not used to a big city, you'll get swallowed up into it. It's not for everyone. I'm actually from a small town in upstate NY. I'm only in the city because I work there. Other than that I hate NYC and would take another job at a smaller firm in a smaller city if I had the opportunity. Believe me, you do not want to live in the city. Even living in a place like Brooklyn or the Bronx will quickly break the bank, unless you are bringing in at least $100K and/or have substantial savings already. Unless you want to live in a bug infested shithole, expect to shell out at least $2,000/month for rent.
I'm only a college freshman, but I've lived in NY my whole life and I can tell you this much. It really sucks, but its true what they say if you can make it here (NY) you can make it anywhere.
I would definitely choose NYC again. I love the city life.
Where to Live (Originally Posted: 03/10/2013)
I will be interning at a PE firm in midtown NY this summer (6th and 40 something I think) for my sophomore summer. I am very new to the area (only took a vacation there for 4 days) and am trying to figure out living situations. I really would like to take home as much money as I can after the summer and spend very little on rent. I know I will be told to use the search function but maybe someone can just help me out. Some friends of mine live in Greenwich and have offered to let me stay for free and take the express train in every day. How long will this take? ~45 min I hear? Is this going to be extremely difficult doing every day for 9 weeks especially if I plan on staying out at night on the weekends in the city? How expensive is the monthly express ticket? How much would the cheapest 2/3 bedroom place be per month in the city that would be fairly close to where I am working? What are some other places/towns outside of the city I could rent for ~500 per month per person or less (have a friend working in the city too ).
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