What's up everybody -- need some help understanding rent prices here in NYC. Is it safe to say any livable 1bdr / 1ba place on the west side is 4k+? Just so hard to fathom I'll be paying roughly ~40% of my post-tax $s on rent if making ~$190k salary w/ total OTE of ~$380k. Just want to make sure I'm not being irrational here and figure it'd be worth checking with others in same comp bucket.
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Yeah, assuming your definition of livable is laundry in building / has been renovated in your lifetime, $4k is even on the low end depending on where on the west side. I would try to get a doorman as packages get stolen all the time in non-doorman buildings.
Not sure where your office is or how old you are, but you can do better on UWS price wise. It's a quieter, more family-oriented area but it's a very quick subway to anywhere downtown on west side.
I pay $5.5k for a 1 bedroom. NYC is nuts.
5.5k for a 1br? Can someone who has lived in both London and NY explain to me why people keep comparing London and NY rent prices? Genuinely London a 1br in a nice neighbourhood will only be like 1.8-2.2k if that? 5.5k you'll be living like a King over here in London.
UK PE Comp will be lower / in line.
MF will be like £200k all in (pre-tax). Post tax this will be ~£120k.
Rent will be ~£25k for 1 bedroom in decent area.
So ~20% of comp to rent in London.
The ~$380k is ~$235k post tax in NYC. Rent at ~$60k = ~28% of comp to rent in NYC
5.5k is a nice building in a good location, plenty of people pay less than that. Don’t forget the exchange rate has come down a lot as well. It’s like 1.25:1 now, but at one point it was more like 2:1, so a £2k flat would have been a $4k apt stateside.
In any case, lots of demand + small island = high prices
Very realistic to pay $4k+. I’m at $5k, which gets me a rent-stabilized luxury 1-bedroom (highrise built in the last decade, building and in-unit amenities, etc.) in a great downtown location right off the train
Fidi offers more bang for buck in NYC vs West Village. Generally more high rises with doormen and amenities (gym, common areas, etc). Access to all major subways makes getting to work easy regardless of office location. Trade off is it is a bit quieter on weekends which I don’t mind given how easy it is to hop on subways.
Fidi is elite in terms of dollar value and transportation options. That being said, UES / UWS if your office is walkable is probably going to be defintely cheaper (if not older)
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