NYC Luxury Buildings - Worth it?
Moving up to NYC in December/January as a first year and looking at a couple of places. Had an unfortunate experience of living in a cramped apartment with no natural light and right above the garbage chute this summer (dark and roaches everywhere) hence I'm thinking of allocating a bit more money to rent in order to be comfortable.
Has anyone lived in a luxury building in NYC before? What was your experience? Was it worth it?
I’m guessing you aren’t referring to “true luxury” buildings in nyc, but more a decent place in nyc. I would say it’s worth it, back when I was junior in this industry I had a nice studio for just over $3k and really enjoyed it. I like having a comfortable home, so for me it was worth it. If you like going out all the time, may not be worth it.
Lol I’m from Asia and the bar for luxury is low in nyc. But yeah I’m thinking of luxury as in an elevator building with in unit laundry and a dishwasher, maybe a gym. Did your building have a gym? Or did you opt for an actual gym membership instead?
My building did not have a gym, I haven’t found many buildings that have “nice” gyms, even now that I bought a place (that I consider very nice) I chose to go for a building without a gym. I rather spend the $200-300/month on equinox or similar. I had central air (yes in nyc that is luxury), doorman, elevator, dishwasher and laundry on my floor (not in unit). Also the location was great (for what I was looking for at the time) and all the finishes were new (nice kitchen, floors, etc).
Moving into a semi-luxury (Laundry in building, decent gym in building, elevator, 600sqft 1bd) in December as well. I'm a big believer in "you are a product of your environment." I realized that I can't perform well when I'm not comfortable with my living situation. Spend as much as you reasonably can to be comfortable and all things even your work should reflect it.
How much are you spending on rent if you don't mind me asking? And also do you see yourself signing up for a gym membership? My head is spinning around whether I should splurge on a building with amenities or a basic gym or save that money to join a crunch or equinox with better facilities
I'm no bodybuilder so I don't need that much equipment in order to get a good workout in. I'm paying $2200 and some change, so I'll probably stick to the building gym for now. I personally like this setup because it means I can do more from the comfort of home ( exercise, laundry, etc.). Some people spend more time outside so having a building with amenities probably wouldn't make sense. I'd consider how much time you plan on spending at home vs outside if you like to party, etc. then use that as a basis for picking your apartment.
Also, don't kill yourself over this, it's a seller's market in NYC right now, so you might not find the exact thing you're looking for. Just find the closest you can get to perfect for you and sign a 1 year. Hopefully, by then you'll find something better or you can just sign another year!
I pay $1600 and roommate pays $2000 (so $3600) for our midtown apartment we signed in august. While small and our unit isn’t very nice (no bugs or rats thankfully. Queen rooms) it has a gym, rooftop, in building laundry, lots of elevators, 24hr doorman, dishwasher, a couple of rooftops, dry cleaning service etc. I personally love it. It’s def not luxury but I highly recommend a shitty unit with super nice amenities.
Is 1600 including all utilities?? That sounds too good
Second that. All the places with basic amenities that are on the market rn are at least ~2k
Just curious, where is this? Sounds like a great deal and isn't too pricey
Not in NYC - but have lived in comparable buildings in comparable cities. Short version - figure out the number you are comfortable with and what the building provides that makes it worth it. I'd prefer, as an example, a gym in my building as I can get a workout in quickly with little commute time. Other might spend it on a gym closer to their office as it's a 'second home' in some ways, especially if it's an Equinox.
Worth it? Depends on what matters to you and what you are willing to cut back on to make it work. My recommendation would be to get a roommate as that will help defray the cost and give you better access. You might also consider coverage requirements - I'm not familiar with NYC, but here I've seen them at 3x or 4x monthly income to qualify.
base = 40X monthly rent if no guarantor
This is true, but I've been given the ability to get a place slightly more expensive that 40x
No
Why is that, xhamster?
Given the salary raises you should easily be able to pay more for rent. If you are the type of person who hates having a shitty place, spend more money - plus, you may be WFH a few days a week so it's not the same as 3 years ago when you spent every second in the office.
$2.5-3k will get you something in a good area, W/D in unit (highly preferable) or in building (less so) with some light, decent kitchen, potentially doorman etc. You could spend less than that with a roommate of course.
I would steer you away from the huge 250+ unit luxury buildings with all the amenities though. First, you pay a premium for those - and you are unlikely to use the kids' play room or poker suite. Second, the management is usually awful and your packages will just be thrown in the lobby, garbage issues, super thin walls, etc. Look for something under ~150 units, ideally a condo or co-op. You'll get a lot more bang for your buck and probably a nicer unit too
Also since you asked about gyms - check if your work location has one first. Many of the BBs/EBs have free or discounted gym in the building which is both convenient and cost effective
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