Hey Guys,
Appreciate any feedback. I'm starting as an analyst in CRE IS/Capital Markets at a pretty solid shop in Manhattan.
My max rent is1250 a month if I don't want to go over 1/3 take home salary. But...the hours will be long and if anything on par with certain jobs on the street and I feel like I'm going to want to live in Manhattan as opposed to a long commute.
Any ideas where to live on a budget like that?
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Astoria or Harlem
Bushwick or Jersey City
Jersey City - Journal Square, get a room, not an apartment. (YOU WILL SAVE THE MOST WITH THIS)
I would avoid East Harlem, West is nice but still ain't cheap (for your salary, at least) and it's too crowded. Unless you don't give a shit.
Brooklyn is good too, for an apartment share. At MINIMUM, a decent 1 br is ~1700
Just stay in Hoboken, cough up $1000 for an apartment share. Majority are young professionals... You can stay in exchange place in Jersey City, but it's NYC price but you get more square footage.
Conclusion... Either stay in Hoboken or Grove St in Jersey City. Both area are nice and not ghetto, but you won't be able to afford your own apartment.
Where did you end up going? It sounds like there are deals for non-ib people.
Literally the only thing needed here is what neighborhood your office is in. Midtown East? Go to East Harlem; it's not a booming nightlife but it's cheap and the east side of Manhattan is very accessible. Financial district/southern Manhattan? Why not Ditmas Park or Kensington or Flatbush? Finding studios or 1br down there in the 1,200-1,350 range isn't impossible (and with a month of rental concession you'll net under your 1,250 number).
West side office you have to do Jersey. Nothing on the west side of Manhattan, or on any of the subway lines leading there, are affordable at that price.
Living in Manhattan is great but a little overrated. So what if your commute is 25 minutes instead of 15? As you say, your hours will be long enough you won't enjoy being in SoHo on a Tuesday night, and on weekends you'll have the time for the additional ten minutes. Plus there is a ton of cool stuff going on in Upper Manhattan or Brooklyn south/east of Prospect Park.
Last year I had a studio in west Harlem (115th st) for $1350 and no brokers fee. It did lack natural light but it was renovated and clean and close to Central Park. A few years back (my first year in NYC) I rented a room in a luxury building in Downtown Brooklyn for $1200. I tried living in Journal Square to save money but the commute wasnt worth it for me. I also considered renting a one bedroom flex in FiDi with a friend and split the rent $1200 each (no brokers fee) but ended up going with the studio but that could be an option. I definitely think you can find a room in Manhattan for $1200-1400 but its going to be tiny and probably with randos BUT you can make friends! I'd look on Craigslist and StreetEasy. Good luck!
How’d you source that deal? Street easy, Craigslist, etc.?
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