1st Year Analyst, where to live in NYC?

Hi all, Happy Friday.

Hope everyone had a great week. I was wondering if anyone had any advice as to which apartment buildings would be best suitable for a first year analyst at a BB? My office is downtown and I would like to stay in Manhattan if at all possible. I also know that I will likely need to convert a one bedroom into a two, or a two into a three, etc. Salary is going to be 85K, so budgeted about 2K a month MAX per person for living (4K a month for a one bedroom, 6K for a two). I also know its a bit early to start looking for a July 1 move in date, but I would like to get the ball rolling ASAP. So far, I have heard these buildings are good places to starting looking:

*8 Spruce Street (NY Gehry building)
*10 Hanover Square
*Tribeca Towers (little on the pricy side)

Any insight into NY housing would be greatly appreciated. Have a great weekend.

Comments (16)

Apr 16, 2017

take a look at the Sky luxury apartments in midtown

Best Response
Feb 4, 2018

Hi,

I'm a broker at Douglas Elliman. To get straight to the point, you will need to make 40X the monthly rent in order to qualify for most apartments in NYC. If you are using a guarantor, they will need to make 60X the rent.

I can tell you from experience that the 3 buildings you mentioned will not allow flex bedrooms with most of their apartments. They will consider flexes on their larger units on a case by case basis. Judging by your budget of $2K ($4k with a roommate) this will not be a possibility.

It seams like you are tying to live in a luxury doorman building. You need to know that this will most likely not be an option in the areas (Fidi-Tribeca) you've mentioned.

Not to mention you will be looking for an apartment in the middle of the summer rental season. During this time you will not find many no-fee apartments and very little landlord concessions.

Realistically speaking, you'll need to look much further north( Harlem, Yorkville, Washington Heights etc) to find something that might work. Of course there is Brooklyn (Bushwich, Bedstuy, East Williamsburg).

Good Luck

    • 3
    • 1
Apr 27, 2017

"you will need to make 40X the annual rent in order to qualify for most apartments in NYC. If you are using a guarantor, they will need to make 60X the rent."

Are you saying that in order to qualify for an apartment with a monthly rental rate of $2,000; you need to make at least $960,000? and the guarantor has to make $1.4m?? Surely you mean monthly, Keith Lee.

    • 1
Apr 27, 2017

Do what every other first year analyst does and live in Murray Hill. Plenty of potential places under 2k if you know where to look/find an open room.

Feb 4, 2018

I used to live in 50th and 8th ave,
55th and 8th ave,
46th and lex
and 38th and park....in that order over 5.5 years.

(all walkable to the office - i hate commuting and like sleeping as late as possible)

Feb 4, 2018

ahh didja like hells kitchen area? i love 9th ave with all the restaurants and bars.. my works at 38th and 5th

Feb 4, 2018
shorttheworld:

ahh didja like hells kitchen area? i love 9th ave with all the restaurants and bars.. my works at 38th and 5th

yeah, was good for food when i wasnt stuck in my office for those first 2 years.

Feb 4, 2018

CT. God damn buyside.

Feb 4, 2018
yahoo:

CT. God damn buyside.

CT, is just so much better of a place

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

Feb 4, 2018

I used to live by union square (18th st)! Yeah. I miss it.

Feb 4, 2018

Fordham Rd. Thuggnation.

Pat I used to work on 50th and 8th. Not a bad place to live with Chipotle right there lol. You ever go to some of those bars (Social, Latitude, etc)

Feb 4, 2018

I lived at 48th and 8th ave for my SA stint, a bit close to time square for my taste, living closer to 9th would be better (problem is you have to walk through time square to get to the east side and I hate walking anywhere near it lol).

Feb 4, 2018

I liv ri nea da beach boyyyyeee, put a hex on u wit me wishbone, bloodfire.....

"Seeing this house and your fine sword and hearing how you're importing and exporting chinamen, let me guess, you must be fucking rich."
Kenny Powdersss

Feb 4, 2018

How is living in Williamsburg? I've never lived there, but it looks like a fun place to party, it's a 15 minute subway ride away from Manhattan and I can save a lot of money on rent by living in Brooklyn.

Men are so simple and so much inclined to obey immediate needs that a deceiver will never lack victims for his deceptions.

-Niccolo Machiavelli

Apr 27, 2017
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