Definitive Guide to Analyst Housing in Charlotte

I've gotten a number of PMs about analyst housing in uptown Charlotte, so I thought I'd consolidate my responses and post them publicly for everyone's reference. Hopefully this helps all you incoming BofA/WF analysts looking for places to live.

I'm assuming if you want to live uptown, you also want to be walking distance to bars as well as work - the center city is going to be best for you. I would recommend looking for a condo rather than an apartment, since the apartment buildings are a bit of a longer walk to both bars and the banks.

The two nicest buildings in town are the Trademark (333 W Trade St) and the Avenue (230 S College St). Both are your typical "high rise" stylistic condos - metal and glass, wood floors, stainless appliances. The Avenue has slightly nicer amenities. Both buildings will probably run you in the $1400 - $1600 range for a singe, or about $2100-$2400 for a double, depending on how high up and what floor plan. Both are within walking distance to BofA HQ and Wachovia One, as well as the Epicenter and all the uptown bars.

I would also strongly recommend the 5th and Poplar complex as well (300 W 5th St). It's only 8 stories (but a bigger footprint), it has a really nice courtyard in the center of the building, and you can usually get more square footage for the money. They even have a couple 2 story condos on the 7/8th floors which are really awesome if you can snag one. You'll still also get the wood floors and stainless appliances in many units, but not all.

Those are really the "big 3" in terms of nice condos downtown, but there are a few smaller buildings with amazing locations. Literally the best address in town (IMO) is the Iveys, which is right at the corner of Tryon and 5th (127 N Tryon), and the only building with units that overlook the Trade and Tryon center city. Also literally across the street from BofA HQ. The units are HUGE, with really high ceilings. The only downer is no amenities/pool, but I think it's worth it because the places are so great. A bunch of Panthers and Bobcats players live here. Units here are pretty hard to find though and can be expensive, since there just aren't that many in the building.

Another one to consider - there's a relatively new building called the Catalyst (built by the same developer as the Avenue I believe). It was just getting completed when I moved away from Charlotte, but a realtor friend invited me to the grand opening and I took a tour through the demo unit. It looked really nice, similar to the Avenue. I think most of the apartments are equipped with one of those internet-based systems that lets you control the lights and AC online too. The location is a slightly longer walk to bars and BofA than some other buildings (definitely doable though, more like 5-10 minutes, rather than just across the street), but would be convenient for WF analysts. All in all a nice building, but I've never been anything but the demo unit.

You can also checkout 230 Tryon which is the most convenient of all for WF analysts and has all the amenities, but is usually astronomically priced.

The best way to find a condo is to look on Craigslist - since they're all owned by people, there is no leasing office for any of these properties you can walk in to. Just keep checking the Charlotte Craigslist daily, they will pop up and they go fast. The other strategy that works really well is to call a realtor. They have their finger on the pulse of all the rental properties and will definitely help you out (free to you). Just look to see which realtors typically post on Craigslist, then send them an email asking for more general help finding a place.

I would highly recommend that you do get in contact with a realtor, then make a trip to Charlotte to see all these places in person. Even if there is not a unit available when you go, the realtor can show you the model unit and all the amenities so you can get a feel for the building.

All of the above condo buildings are great for analysts - very nice inside, an easy walk to work, and very convenient to bars.

If you really want to look at apartments, a few to look at that are a bit longer walk (but still doable) are Camden Grandview, Camden Cotton Mills, Post Gateway, and Post Uptown.

I think that about covers the uptown living landscape. Let me know if you have specific questions about buildings - I've lived in or had friends that lived in all of them.

 
bracelet19:
this is great... are there any UBS/RBS folks who can help with similar info for Stamford?

Funny coincidence how both of the banks there (UBS and RBS) are doing the worst out of everyone. Stamford is definitely haunted. Therefore you should check out Fox's new show "Most Haunted Places" and look for some cheap housing.

 
WegmansTuna:
Thx a ton for this! I'm looking specfically at the apartments because they are cheaper. Out of the ones you noted is there any particular one you would recommend? I heard Camden Grandview is nice.
Actually often you can get a condo for the same price as an apartment - make sure you look into it before you make the decision to write off the condo buildings. If you're set on an apartment, Camden Grandview is probably the nicest, but the location really isn't walkable to bars or BofA (I guess you could walk to Wachovia One if you had to). Camden Cotton Mills has the best location, but I'm not a fan of the inside (concrete floors, exposed ducting, etc).
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 
CaptK:
WegmansTuna:
Thx a ton for this! I'm looking specfically at the apartments because they are cheaper. Out of the ones you noted is there any particular one you would recommend? I heard Camden Grandview is nice.
Actually often you can get a condo for the same price as an apartment - make sure you look into it before you make the decision to write off the condo buildings. If you're set on an apartment, Camden Grandview is probably the nicest, but the location really isn't walkable to bars or BofA (I guess you could walk to Wachovia One if you had to). Camden Cotton Mills has the best location, but I'm not a fan of the inside (concrete floors, exposed ducting, etc).

Looking at 2 bdrm apts vs. condos it seems like apts are going for roughly $1,400-1,800, whereas (as you noted) condos range $2,100-2,400. That's the $300-400/month difference I'm looking to save.

 
Bravehart:
Can you possibly write a guide for NYC for those BoA/WF and other BB guys who will be working in Manhattan?
Never lived in NYC dude...
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 
grandpabuzz:
Very useful for Charlotte folks. Anyone want to do a Houston one for incoming newbies? I'll provide credits of course.

Live in Midtown or Montrose. If you work downtown and want to live downtown there's always the Post Rice

 

I can comment on Houston, I interned there before moving to NY...

Don't live in Montrose (too many queers), live in downtown or midtown. It is really a matter of whether you want to walk or drive to work. Midtown is 5 minutes from downtown (2miles or so), and it is where most of the trendy bars are located (some are located by the galleria or the heights area).

In downtown, you can live at the Post lofts, or there are multiple places on main st which are fairly nice and affordable. Only problem is that downtown houston can be sketchy at 2am. My advice is to live in midtown at the Post Midtown, or any of the mid-rises there. There are quite a few midrises in midtown that have late-dining options on the first floor... my 2c...

 
bear:
I'm going to be moving to Charlotte to work for WF. Do you know where/how long the training is? When should I move into the city? Do I need a car?
I don't have any WF specifics, let's keep this to Charlotte in general. If I were you, I'd come probably a week before training starts so that you can move in, unpack, get a feel for the city, etc. before you're slammed at work for two years.

You probably do need a car. You'll be walking to work and to most bars, but honestly Charlotte is a driving city. The public transit is basically non-existant (unless you want to ride the bus...didn't think so). If you'd be purchasing a car out of pocket, you might find it more economical to just pay for taxis if you ever want to go to the mall or leave uptown. But in general, yes, I'd say you should have a car.

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 
Best Response
bear:
Capt K.

Thanks for all the help, I really appreciate it. When you moved to Charlotte, did you have a roommate? how did you find one? Any suggestions on where I should look?

Thanks,

This one is personal preference, but I've always enjoyed living with a roommate - keeps things lively around your place and gives you a connection to something outside of work. Obviously you have to click with them and they have to understand your lifestyle, but I think overall a roommate can be a great thing if you can find one that works.

Needless to say, I had a roommate (friend from college) throughout my time in banking, and it worked well. I know people who have found roommates on Craigslist - some have worked out amazingly, some have been utter disasters. Another way to find someone is to ask your school's career office who else in your class is taking a job in Charlotte, or check with the alumni office to find other young alumni in the area.

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

Thanks for the info...really helpful.

Do associates typically live in these condos too? My fresh-out-of-undergrad days are well behind me and I'd like to avoid living in a dorm/frat house again.

 
Easy E:
Thanks for the info...really helpful.

Do associates typically live in these condos too? My fresh-out-of-undergrad days are well behind me and I'd like to avoid living in a dorm/frat house again.

Yes, I knew a number of associates (and plenty of other 20 and 30 something non-IB types) that lived in all of the above.
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 
yankees1:
What about summer analyst temporary housing? I just accepted an offer at BAML for the summer in Charlotte and, being from up north, I have absolutely no idea of where to look for affordable, preferably furnished housing that is within walking distance of work. Any ideas?
I'd still vote for Craigslist. There is also actually a building right next to 5th and Poplar called City View Towers, and I believe it is reserved only for students doing internships. Great location, but I'm not sure about pricing.
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

Another update to this list - there's a relatively new building called the Catalyst (built by the same developer as the Avenue I believe). It was just getting completed when I moved away from Charlotte, but a realtor friend invited me to the grand opening and a tour through the demo unit, and it looked really nice, similar to the Avenue. I think most of the apartments are equipped with one of those internet-based systems that lets you control the lights and AC online too. The location is a slightly longer walk to bars and BofA than some other buildings (definitely doable though, more like 5-10 minutes, rather than just across the street), but would be very convenient for WF analysts. All in all a nice building, but I've never been anything but the demo unit.

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

Hey guys, looking to move into the Catalyst in Charlotte next month. However, i'm trying to do some budgeting first. My annual salary will be 70k. In terms of taxes in Charlotte, how much can I plan to pocket in take-home pay?

I used a calculator online, and it spat out 60k take-home (only 10k in taxes). Is this possible? That seems to be a ridiculously low tax rate.

Anyone with experience working/living in NC that can comment on how reasonable this is?

Array
 
Cries:
Hey guys, looking to move into the Catalyst in Charlotte next month. However, i'm trying to do some budgeting first. My annual salary will be 70k. In terms of taxes in Charlotte, how much can I plan to pocket in take-home pay?

I used a calculator online, and it spat out 60k take-home (only 10k in taxes). Is this possible? That seems to be a ridiculously low tax rate.

Anyone with experience working/living in NC that can comment on how reasonable this is?

That is way too low

http://www.suburbancomputer.com/tips_calculator.php

 
Cries:
Hey guys, looking to move into the Catalyst in Charlotte next month. However, i'm trying to do some budgeting first. My annual salary will be 70k. In terms of taxes in Charlotte, how much can I plan to pocket in take-home pay?

I used a calculator online, and it spat out 60k take-home (only 10k in taxes). Is this possible? That seems to be a ridiculously low tax rate.

Anyone with experience working/living in NC that can comment on how reasonable this is?

If you haven't done so, try www.paycheckcity.com. This will let you select where you are at and factor in the taxes, etc. I'm not sure how accurate it is, but it seems pretty legit.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

Yea a 14.2% effective tax rate for a single person (I'm assuming) seems a little low.

Also are you set on Catalyst? I checked it out and I just don't think its worth the price. It's small, carpeted, and very poorly designed. I think you could def. find rentals at Avenue, Trademark, Madison, and a couple of other new ones. Also, look into Camden Grandview. Not a highrise (maybe 8 floors) but it has pretty much the same amenities as Catalyst (24/7 concierge, small theater for residents, 24/7 fitness center - unlike Catalyst, and dry cleaning staright to your room) and the gold rush trolley which is free stops right there ever 12 mins in the morning and takes you to the BofA/WF buildings so its mad convinient. PM me if you have any additional questions.

 
djr:
Yea a 14.2% effective tax rate for a single person (I'm assuming) seems a little low.

Also are you set on Catalyst? I checked it out and I just don't think its worth the price. It's small, carpeted, and very poorly designed. I think you could def. find rentals at Avenue, Trademark, Madison, and a couple of other new ones. Also, look into Camden Grandview. Not a highrise (maybe 8 floors) but it has pretty much the same amenities as Catalyst (24/7 concierge, small theater for residents, 24/7 fitness center - unlike Catalyst, and dry cleaning staright to your room) and the gold rush trolley which is free stops right there ever 12 mins in the morning and takes you to the BofA/WF buildings so its mad convinient. PM me if you have any additional questions.

All pretty accurate - Grandview is nice. The only catch on the Gold Rush trolley is that (at least when I was in Charlotte) it didn't run on nights or weekends, which meant all my friends that lived at Grandview always ended up doing the long walk or cabbing to bars anyway.
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 
CaptK:
djr:
Yea a 14.2% effective tax rate for a single person (I'm assuming) seems a little low.

Also are you set on Catalyst? I checked it out and I just don't think its worth the price. It's small, carpeted, and very poorly designed. I think you could def. find rentals at Avenue, Trademark, Madison, and a couple of other new ones. Also, look into Camden Grandview. Not a highrise (maybe 8 floors) but it has pretty much the same amenities as Catalyst (24/7 concierge, small theater for residents, 24/7 fitness center - unlike Catalyst, and dry cleaning staright to your room) and the gold rush trolley which is free stops right there ever 12 mins in the morning and takes you to the BofA/WF buildings so its mad convinient. PM me if you have any additional questions.

All pretty accurate - Grandview is nice. The only catch on the Gold Rush trolley is that (at least when I was in Charlotte) it didn't run on nights or weekends, which meant all my friends that lived at Grandview always ended up doing the long walk or cabbing to bars anyway.

Yea the bars will require a cab - I think its a little more than 1/2 mile. Especially when you wanna take a girl home and you tell her hey its only 8 blocks away. You get a workout before the real workout.

As far as working on the weekends (I guess this is mostly for the IB guys), its def. walking distance to the WF buildings. As for BAML, they've started a free shuttle for associates living in uptown after 6pm on weekends and weekends so you don't even have to cab it to work.

 

Well, Catalyst is so close to WF, its hard to pass on. I'm not staying there because of the amenities; I'm staying because its $1060 per month and my apartment is 2minutes away on foot.

All the other places in uptown are $1200 or $1300 minimum, and none of them get as close as Catalyst is to my desk. I'd either have to cab, trolley, bus, or take the light rail from any other location - it seems.

Array
 

I'm looking for a Studio Apartment in Charlotte. Are there any places you guys would recommend that will have studios for under $1000 a month near Uptown? What areas should I look into? I don't mind walking or a short drive.

 

I interned in Charlotte last year. I found my room on craigslist--it was furnished and right in the middle of Uptown. There are really three ways to find a furnished room. 1. Johnson and Wales which is sells out really early (it may already be sold out--if not, definitely do this due to the Uptown location and dirt cheap price). 2. Find a Condo owner on craigslist who will rent you a condo for the summer (you'll have to pay a pretty significant premium for the short lease and furniture, but it's still a good option). 3. Contact one of the corporate rental companies in charlotte. This is the most convenient option but also the most expensive. Just google something along the lines of "corporate housing charlotte" and you should see a handful of companies that do this.

 

Catalyst is a great building but can be a little on the pricey side. I know they've been renting out a lot of units lately so not sure what their availability is but worth checking out.

 

There are a ton of options uptown. Post Gateway and Post Uptown are good apt. complexes and you can try a few blocks outside of town for some other great options. That said, I would contact Brown and Glen http://www.brownandglenn.com/ for some condo options. There are several high-rise complexes that just went up (specifically the Avenue) which I imagine have a lot of rental properties available from investment owners. Early may is not too early.

 

NcMonkey, you should get started much earlier than May. Many apartment building's wait lists are filling up already.

Coorsman's recommendations are good. Post Gateway and Post Uptown are basically in the same area of town, and are pretty nice. They're just on the edge of walkable to the BofA/Wachovia buildings and bars.

Another place to look is Camden Grandview on Morehead St. It's definitely walkable to Wachovia, and BofA as well if you own some comfortable shoes. There is also a light rail station directly next door, which would be very convenient if you don't have a car.

If you prefer not to walk to work, the free Goldrusher trolley/shuttle comes to both Post's and Grandview every 7 minutes, and will drop you in the middle of uptown.

Camden's other uptown property, Cotton Mills, is pretty close to everything (and next door to Cans bar), but I didn't like the urban/industrial decor (concrete floors, exposed piping, etc).

That's pretty much the extent of your options if you want to get an "apartment". There are tons of condos available on Craigslist and through real estate brokers. Specific buildings that are walkable to the banks/bars are 5th&Poplar, The Avenue, and the TradeMark - among others.

All of this is assuming you want to live uptown (which I highly recommend). If you want to save a little money and live outside the city, I can also give you some recommendations about which areas are nice.

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

Coorsman & Captk thanks a lot for your suggestions. I'm pretty set on settling Uptown, preferably in our of the complexes with an indoor gym. The one thing that I heard about the Post and Camden properties is that they tend to get pretty loud late at night and are more like college dorms...do you find that to be true? Also, forgive me for being a little naive, but what do you mean by waitlist? Demand is heavy enough that you have to get on a list in advance?

 
ncmonkey11:
I'm pretty set on settling Uptown, preferably in our of the complexes with an indoor gym.
Camden Grandview and the Post properties have an onsite gym. However, I wouldn't consider the gym a make or break ammenity. The uptown YMCA is right there in the Wachovia building, walkable from any of these complexes.
ncmonkey11:
The one thing that I heard about the Post and Camden properties is that they tend to get pretty loud late at night and are more like college dorms...do you find that to be true?
Not sure on this one - my experience hasn't been that bad. The staff at both places told me that their tenants range from recent grads to old professionals. So it probably just depends who your neighbors are. But at the same time, wouldn't you prefer to live somewhere with people your own age? It really sucks if granny downstairs complains if you have some people over after work. Plus, you might meet some people.
ncmonkey11:
Also, forgive me for being a little naive, but what do you mean by waitlist? Demand is heavy enough that you have to get on a list in advance?
Most places have a list you can get on, and they call you as apartments become available. People on the list are given first priority. So it is possible that the people on the list can grab all the available apartments before they become listed publicly. However, you shouldn't get on the list for a place before you've decided to live there, as you must pay your application fee upfront (usually ~$400). So choose a place, then get on the list as soon as possible.
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

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- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

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