First Year Analyst Housing NYC Questions
Hey guys,
Have some questions about housing for a first year analyst. Assuming no debt payments, conservative spending habits and a BB IBD first year salary, is it possible to rent out a studio or 1 bdr apt in NYC? What is the best way to go about this?
I've never lived in the city so have no clue about the best areas to live in or how to find a trustable broker or leasing site.
About how much should I aim to pay in rent both with roommates or if I live alone? I would like to save money but also would like to live comfortably in a reasonably nice place.
https://streeteasy.com/rentals
As mentioned above, streeteasy will be your best guide. Using a broker is normally a big rip off. You are so young they pair you with someone that is going to show you complete dog shit and then you can't rent in those buildings unless you sign with that broker.
In terms of pricing, it'll all come down to quality, doorman, amenities, sq. ft., etc. It's going to be a grind, so just stalk streeteasy all day every day while you are looking for a place.
STUDIO
If you want to live along in a studio, some small walk ups friends have found for $1,800-$2,400/month and a little nicer would be $2,400-$2,900. These can be anywhere in the city and will be pretty difficult to find the perfect situation.
1BR / 2BR
Your best bet for affordable housing will be a 1 bedroom or 2 bedroom with 1-2 roommates. I'd say I have some friends in Brooklyn that pay ~$1,400-1,800/month (but don't live here now the L subway line is about to shut down) and in Manhattan you are probably looking at ~$1,600-2,000.
Super helpful. Some follow up questions, when using Streeteasy they have the option to contact the agent, is this any different than a broker? And how would I know these are trustable people that won't scam me, any tips to look out for this?
Also, how far in advance should I start looking at places and sign something? Does it become more difficult approaching the start of training as thousands of analysts are on the market looking for the same thing?
I haven't used that function in streeteasy I normally just go to the building's website and call their leasing agent if they have one directly. These people won't scam you, they work in the building selling the units. I'll let other speak to this.
I'd start looking a few months out to try to get a sense of what kind of buildings you want, the layouts you are interested in, etc. Realistically most won't let you sign until 1-2 months before you lease start.
Definitely get more opinions, I signed my lease years ago and haven't moved so I have not done this recently!
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