Pages

NYC Apartment Recommendations?

tchekm845's picture
Rank: Baboon | banana points 112

To those who are currently living in NYC or have lived there as a 1st yr analyst...how did you go about finding an apt and do you have any specific tips to share?

  • Current budget for 3 ~$4500 looking for a flex3BR
  • Looking to live Midtown East/Gramercy/LES/Murray Hill/Hell's Kitchen
  • West side is okay but basically anything above FiDi and below 42nd that's near a metro

Any recommendation on specific apartment/buildings? Brokers?

Broker vs No Broker for Finding an NYC Apartment

Finding an apartment in NYC can be difficult. Inventory is in short supply and turnover happens quickly. Working with a broker can help, but you'll have to pay high fees even if you find the apartment yourself online first. There are lots of other threads on WSO about searching for apartments in NYC. Check out Recommended Reading below.

Here are some other recommendations for trying to avoid broker fees:

  • PadMapper
  • StreetEasy (this site is a bit more geared toward buying/selling homes, many rentals are from brokers)
  • NYBits
  • Naked Apartments
  • Craigslist (but it may take a bit of searching to find a quality apartment)
  • Walk in to luxury buildings in the areas of interest and ask about availability

Recommended Reading

Private Equity Interview Course

  • 2,447 questions across 203 private equity funds. Crowdsourced from over 500,000 mem.
  • 9 Detailed LBO Modeling Tests and 15+ hours of video solutions.
  • Trusted by over 1,000 aspiring private equity professionals just like you.

Comments (311)

May 8, 2012

Dam that is a pretty high budget. I thought most analyst were looking for 1500-2000 at most. If you get an apartment for 4500=54,000 before utilities and taxes. How much are you getting paid as a first year?

May 8, 2012

It's for 3 people so I'm assuming he's talking about splitting the $4,500 three ways (maybe not evenly). I haven't gone apartment hunting in a year but I highly recommend you don't use a broker. If you do, don't take a fee higher than 12% of the total lease. It's such a rip off.

May 8, 2012

Yeah $4500 total - I wish I was paid enough for $4500/person lol
Yeah, I'm avoiding brokers so I'm currently looking at specific apartment buildings right now.

May 8, 2012

padmapper.com

It is gold

Flying Higher and Higher

May 8, 2012

streeteasy.com

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

May 8, 2012

Second street easy. Try to stay away from brokers. Also, this is a lifestyle/commute trade off that not everyone agrees with but I would avoid midtown like the plague. It's boring, gross, expensive, and homogenous (well - at least as homogenous as NYC gets).

May 8, 2012
Boothorbust:

Second street easy. Try to stay away from brokers. Also, this is a lifestyle/commute trade off that not everyone agrees with but I would avoid midtown like the plague. It's boring, gross, expensive, and homogenous (well - at least as homogenous as NYC gets).

i agree i would rather live in L.I.C or Williamsburg... but than again to each his own.

May 8, 2012

I've used streeteasy, padmapper, nybits, nakedapartments...

Since availabilities for early july haven't opened up yet, my strategy is to find apartment complexes that I like, with reasonable pricing for flex 3BR then visit those places come late May/early june and sign.

Problem is...haven't found too many good ones.

If you're a 1st yr analyst right now, which complex are you living in?/price range?BR?

May 8, 2012

craigslist is surprisingly good... especially if you can find someone who needs to move before his/her lease is up. you get to lock in their old rates (nyc rates go up 3-5% each year) and if it's a flex, the wall's already up and you can just move right in. also the only way to look at broker-only buildings without a broker.

try to negotiate down to one month's rent if you have to use a broker. otherwise, 12-15% is absolutely insane. i'd sooner get kneed in the balls than be ripped off that badly.

May 8, 2012

^great insight, thanks

May 8, 2012

Stay away from Murray Hill. You'll thank me later.

May 8, 2012
CatsLHP:

thank me later.

thats what drake said but i aint neva thanked him 4 nothin cuz he aint neva done nothin 4 me...in fact young money ruinin the rap game far as im concerned

May 22, 2012
swagon:
CatsLHP:

thank me later.

thats what drake said but i aint neva thanked him 4 nothin cuz he aint neva done nothin 4 me...in fact young money ruinin the rap game far as im concerned

Are You really concerned?

Eventus stultorum magister.

May 8, 2012

I am not sure what the appeal of midtown and the surrounding pseudo neighborhoods is, but there are far better areas to live where you can actually feel that you are going home, rather than just going to that place you live at.

4500 will get you an ok apartment on the UWS or the deep end of the UES (yorkville). I grew up on the UES and speaking from experience when I say the UWS is a better choice (the real UWS not Harlem, morning heights, washington heights, or inwood) it's residential enough, filled with restaurants of all cuisines you can think of, bars ranging from frat to wine to downright foreplay lounges, plus you get the 1,2,3,A,B,C,D,E,F trains and crosstown buses on 59th, 66th, 72nd, 79th, 86, and 96th street.

I work on 42nd on 7th and it takes me 7 minutes from the minute I leave my house to the minute I swipe my access card at work.

Or you can just get a studio in the same area for about 1500-1600/month

May 8, 2012

My roommates and I work at different locations (them on park, me in fidi) so I'm trying to find a place midway that has good access to the subway...

why stay away from Murray Hill? What about gramercy/LES/east village (ex-stuy town)? I assume I won't be home often since I will be in IB so luxury isn't my top pick but more whatever has good location and is somewhat decent (no bugs or other problems).

May 21, 2012

bump

May 21, 2012

murray hill can be convenient for going out. stumbling distance from LES for the weekends, and much easier commute during the week.

agree on midtown -- unless you are cutting it <10 min from work, the neighborhood sucks.
hells kitchen past 8th avenue has a much different feel though. 8th ave itself does not count.

4500/3 ppl is good. street easy u end up getting brokers (that posted these posts originally) that can end up sucker into something u dont want later.

if you can afford it id just do a random not-so-high-end-luxury building and you can probably meet your budget easily -- especially if you do a convert wall for a 3rd BR (most living rooms are too big for ur first year needs anyway) which will cut down the average rent

also if you can..try get within walking distance to work. taxi*2 (depend on how sleepy you are in the morning) * a month can easily add up per month. if you are in walking distance it'll save you tons. analyst salary, pre your first bonus and after tax, is actually not very much.

where do ya'll work? if u list them perhaps we can gather you a list of buildings (i.e. big apt buildings can just take walk ins.. ).

also beware: do not have a broker walk you into a luxury no-broker needed building -- they make u sign a broker agreement (to pay fees) before they even show u the first place. so definitely look up whether the building needs a broker at all before u wander into it with a broker. watch out -- i was definitely looking at some apartments that did not need a broker and the guy just kinda pushed us into looking at more and more buildings in the area (meaning if we ended up signing with any of them in a year with our without his help.. we were required to pay fees).

May 22, 2012

find someone in a rent controlled apartment and pay them to go somewhere else while you just sneak in

tchekm845:

anything that's near a metro.

oh, and we have the subway. DC blows

May 23, 2012

You all mention that Midtown kind of sucks which I can somewhat agree with but what about Midtown West? There are a lot of nice restaurants/bars and tends to be a pretty young crowd

Aug 29, 2016

It really depends on what you're looking for. If you want a luxury apartment, then $1k a month is impossible in Manhattan. Market rate at this point for a 1 bedroom is going to be around $3.2-3.7k, depending where you are in the city. If you split that with a roommate you're looking at $1.6k-1.9k, and that'll hold fairly steady even if you move up to a 2 bedroom with 3 people splitting the cost.

Walkups/non-luxury are a different story, but the quality can vary vastly, and you'll want to be much more careful in your due diligence if you go this route. Even so, $1k will be pretty hard, and I'd reckon you'll need to broaden your search to up to $1.4k. In NYC you really do get what you pay for as far as apartments go.

If you really want to save money, think about living in NJ or Brooklyn. Commute will be about 45min depending on where you are, and rent is significantly cheaper. Your $1k will go much farther, but you'll still likely need a roommate to make it work.

As far as timing, peak season for rent is during the summer, and that's when prices are highest. Winter prices are lower, but then availabilities are lower too, so it's a tradeoff. If you can't find an apartment you like, then consider doing a month to month deal, but if you find a good apartment I'd just lock it up right away.

Aug 29, 2016

BTW the resource I used the most when I was apartment hunting was nybits.com. Great website for apartment rentals in the city. streeteasy is okay as well, but they're more geared towards apartment buying/selling vs. renting.

Aug 29, 2016

Dude, rent in Jersey City across the river, the PATH commute is 25 mins to 200 West. There's plenty of places for $800/mo that go on a monthly basis. Then, when you have some more money you can move wherever you like.

Aug 29, 2016

Thanks guy, always admire prompt replies. I will try to go both ways. Jersey City does sound ok temporarily, but for the long run, it just isn't NYC. (From the perspective of someone who has always wanted to move to NYC since he was a kid). Brooklyn seems cool, it has lots of culture, a lot of young people live there, but getting to and from work can be hassle considering I am probably going to find myself working far more than the 40 hours regular work week.

I will try to check out both though, and thanks for letting me know about NY Bits Mr. Catch. By the way, right now in my life, I could care less about luxury. I'm still pretty much a kid and am more interested in lowering expenses, eliminating debt, and being liquid.

Aug 29, 2016

Sent you a PM...

Float like a butterfly, sting like the bee.

Aug 29, 2016

I was in your very same position a month and a half ago. I ended up using craigslist to find roommates, which isn't a bad options if you do your proper due diligence.

I feel that 1k of month is going to be very hard to do in Manhattan. You work in lower Manhattan which means that Brooklyn or Jersey City might be a really good option for you as far as commute. Don't rule these places out, much cheaper than the city.

Aug 29, 2016

Thanks the BlueCheese for your advice and UFO for yours as well. I'm starting to develop a real liking to Brooklyn after reading about it. I think it has a pretty cool vibe while still maintaining that proximity to Lower Manhattan. Thanks Raytheplumber. Quick question though - where did you end up moving and how much are you paying a month for rent Ray? You can PM if you don't want to publicly post.

Thanks again for all the advice

Aug 29, 2016

My friend got a huge 2 bedroom (whole first floor of a building) in Park Slope for right around $2K. Pretty much a hop skip and jump from 200 West Street, plus its in a fairly safe/nice neighborhood...not sure what prices are like since the mayor moved there now though.

I think you could still manage to get a place for around $1K with a roommate or two somewhere in BK. I'm planning to do this next year actually, provided everything works out accordingly.

Aug 29, 2016

the only way you get an apartment for 1K a month in Manhattan is if you split it with 9 Greek men, or worse, Turkish women. sure there is a lot of yogurt to go around (the real kind, not a metaphor for semen - although whatever floats your boat) but there is a lot of hair everywhere and it get's into everything so you are better off living with a bunch of sheep dogs or under a bridge.

Aug 29, 2016

It's been five years since I lived in Jersey City, but Hoboken/Jersey City used to make sense- and probably still does- for a few reasons:

1.) No city income tax. Also personal non-work income (EG dividends, interest, other stuff) is taxed at a slightly lower NJ rate.
2.) Pay less in rent.
3.) You get a view of Manhattan. Manhattan has to look at Jersey City!

Caveat: Jersey City/Hoboken will not work if you are pulling 15 hour days all of the time. If you are in IBD, you will be less miserable renting a studio, sticking four bunk beds in it, and sharing it with three other people than living in Hoboken.

After midnight, the PATH only runs every 20 minutes. And cabs charge like $60 (after toll + tip) the second they hear the word "New Jersey", even if you hail a cab at the entrance to the Holland Tunnel and just want to be let out on the other side.

But otherwise Hoboken is probably going to save you $10,000 after-tax your first year.

    • 1
Aug 29, 2016

Thank you for a thorough response. What kind of commute time is it from there? 10k my first year makes ALL of the sense !

Statistically speaking.....

Aug 29, 2016

I used to count on 40 minutes door to door from Montgomery & Marin (Jersey City) to 49th & 7th.

Be careful about living at Newport/Pavonia if you have a boss who values punctuality... people have trouble fitting on the train there during rush hour. (Hoboken does not have that problem.)

Hoboken would be 2-3 minutes faster to 49th/7th. I don't know about midtown east.

$10,000 your first year is worth it. By your third year, the 40 minute commute, not hanging out with friends until 2 AM because it's painful to take the drunk train back home when there's no bathrooms, and my favorite- the train lurch at the bottom of the north Hudson tubes (which has probably dislocated a few thousand hips over the years) starts to get old.

Get a roommate and split a two bedroom, too. That will save you even more money.

But rethink this plan if you have a bunch of college friends moving to Manhattan. Or at least try to sell them on Hoboken.

Aug 29, 2016

If you just want best bang for your buck Weehawken is a good choice. 5-10 mins to Hoboken and JC, easily catch bus to 42nd ($3), busses pass by very often.

Also, you may look into West New York specifically close to Boulevard East. you'll have some good options and you'll also save a good amount, commute is the same as Weehawken. Btw the best view of the city is form Weehawken/WNY, if that matters haha.

That's just if you want to focus on saving more and don't want to be in Hobo or JC.

Aug 29, 2016

I wouldn't worry too much about cabs outside of the weekends. You'll be working past 10 most nights and will take a black car home that your firm will pay for.

That being said, there's not one analyst that works at my bank that doesn't live in Manhattan. Most if not all have roommates. There will be times as an analyst when you'll unexpectedly be called to the office, and when this happens it will be urgent, and your team won't be happy if you tell them it will take you 40 minutes to get there.

If your office is in Midtown East, you may want to consider Brooklyn or Long Island City too. My office is on the West side so not really an option.

Aug 29, 2016
undefined:

I wouldn't worry too much about cabs outside of the weekends. You'll be working past 10 most nights and will take a black car home that your firm will pay for.

That being said, there's not one analyst that works at my bank that doesn't live in Manhattan. Most if not all have roommates. There will be times as an analyst when you'll unexpectedly be called to the office, and when this happens it will be urgent, and your team won't be happy if you tell them it will take you 40 minutes to get there.

<

p>

Motorcycle FTW; lane split through traffic in the Lincoln tunnel. 20 minutes to midtown east on the weekend. Add 5 minutes during the week.

NJ works if you're in ER, QR, or S&T. You will be miserable in IBD. If you live (yes, live) in IBD you will want to rent a bed that is walking distance from home (work).

Aug 29, 2016

meh

    • 1
Aug 29, 2016

Any different view for associates in IB? I would like to live in Manhattan but I have not a view on salary vs. cost of living and I cannot decide if I should live with some other or rent my own place (BB salary; associate 1)

Aug 29, 2016

Walking distance if you can. Can't comment on NYC IBD direct, but I have worked a previous job where I was pulling hours comparable to IBD and had a 30 minute door to door commute. It was completely miserable....especially the one evening where I was overjoyed because I FINALLY was going to be able to kick back for an hour and got called back in to correct a minor mistake someone had made.

Plus it's not like you need a huge amount of space in NYC or in this job. You'd be surprised how well you can live out of a closet sized space. Less actually. I spent almost a year living out of a space that consisted of my bed and the area around it and missed surprisingly little.

Aug 29, 2016

Agreed, make sure you keep your bed walking distance from home if you live in IBD. (Again not a typo)

For the rest of us... for the quants, traders, research people, Hoboken is probably ok.

Aug 29, 2016

I have a friend who lives at Embassy House, 301 East 47th Street. He has nice views of the East River.

Aug 29, 2016

........

    • 1
Aug 29, 2016

Walk-ups in the Upper West side can be ok if you need to be in Manhattan, but I encourage you to look at the other boroughs.

Aug 29, 2016

Upper West and Upper East are probably your best bet. You can find some deals in the financial district but I don't know why anyone would want to live there.

Aug 29, 2016

Thanks all. What boroughs would you reccomend outside of Manhattan?

Aug 29, 2016

If you're willing to post your salary and the neighborhood where you're working (Midtown West, Midtown East, Financial District/downtown), people could give more specific advice.

Also some deals in Manhattan near Murray Hill, as well as Upper West below 116th and Upper East below 96th as mentioned.

Brooklyn, would recommend any neighborhood along the Northern coast from Greenpoint to Red Hook (except maybe only the Western half of Williamsburg), as well as Park Slope, Gowanus, Prospect Heights, Clinton Hill, Boerum Hill, Fort Greene. Take this with a grain of salt as I'm not an expert; also, a lot of these could be pricy. https://en.wikipedia.org/wiki/List_of_Brooklyn_nei...
Queens there are definitely good parts, but I don't know it well.

Bronx and Staten Island, probably wouldn't recommend.

Might be worth looking into close parts of New Jersey as well.

Aug 29, 2016

Hoboken, NJ sounds like it would be a great fit. Every resident I know in Hoboken constantly raves about it; definitely been on the rise in terms of popularity and class over the past few years.

If you're adamant on staying in NYC, I would agree with those that mentioned Upper East or Upper West. However, decent apartments in those areas certainly do not come cheap.

Aug 29, 2016

I never thought I'd be suggesting this, but Hoboken might actually be the best fit for you. The only no-go would be if your office is inconveniently situated relative to the PATH.

It's spacious, cheap, and has great amenities. If your office is situated well, it can be a shorter commute than the UWS, UES, or Brooklyn. Besides, you'll be expensing a car home every night you work, so it's really only the morning commute you need to worry about.

I can't imagine getting a spacious 1br or 2br for a family on A1 income anywhere decent in Manhattan. You'd have to go really far east into Kips Bay/Murray Hill ... really far west into Hell's Kitchen ... or really off the subways on the UWS/UES. Brooklyn has also become family-city, so all the gentrifiers 3-5 years ahead of you with their first or second babies have snagged all the spacious apartments in clean neighborhoods and started pushing the rent up.

NYC is not very amenable to a single-income family with a child. Hoboken really seems like the winner.

Aug 29, 2016

If you're working near Grand Central, I recommend checking out Riverdale in the Bronx. It is very quiet & family friendly, though has practically no night life. Easy commute to Grand Central via metro north train. You can get a really nice, spacious apartment at a great price. PM me if your interested in learning more about the area.

Aug 29, 2016

streeteasy.com is the best resource for NYC real estate. Good luck.

Aug 29, 2016

bomo

Aug 29, 2016

On the same boat, have a 4 month old and a working wife. We're currently living in midtown east in a 1br walk-up, but looking to move to Long Island City in Queens next spring once our lease is up. A lot of newly developed apartment buildings in that area and only a couple stops away from Grand Central.

Aug 29, 2016

how many days are you gonna be here

Aug 29, 2016

I have no idea, but probably at least a yearish.

Aug 29, 2016

Not that I need a commitment for that long, far from it. But I am/will be looking for an apartment to live in.

Aug 29, 2016

Hmm, have you checked craigslist?

Would you be open to living in Williamsburg BK? 10-15 minutes to anywhere downtown, essentially the same commute as living in Midtown...

Let me give it some thought, I may be able to think of something. I guess congrats on the job, or whatever you are moving for!

Aug 29, 2016

If you are looking for something on the cheap side I would suggest Astoria and Long Island City over Brooklyn. It is closer to the City (than a lot of BK) and the rent is far lower. For instance, you could live in LIC, leave from Queensborough Plaza, and it would be 1 stop into Midtown East (59th and Lex) and 4 stops to Columbus Circle (57th and 7th). Really depends on where you are working though. If you are in the Financial District BK might be the easier commute.

Aug 29, 2016

you get a job or you just coming out here?

Aug 29, 2016

Just coming out. Maybe I can find something if I'm living in the city.

Aug 29, 2016

whats ur price range monkey

Aug 29, 2016

Ideally, somewhere between 1k-2k a month. Lower is better but I'm looking for somewhere safe. I'll live in a shoebox as far as size goes.

Aug 29, 2016

Also, if anyone needs a roommate I'm pretty clean and quiet and will split rent 50/50.

Aug 29, 2016

can get a studio in brooklyn heights for that price if youre downtown or prolly even a luxury studio in fidi itself for that price -- or many other places.. if you wanted cheaper can prolly find one in astoria but will be farther away if ur working in fidi

Aug 29, 2016

Williamsburg is a bit on the pricey side if I'm not splitting rent, but Astoria and BK Heights sound cool.

Aug 29, 2016
monkeysama:

Williamsburg is a bit on the pricey side if I'm not splitting rent, but Astoria and BK Heights sound cool.

Williamsburg is not too bad, I guess everyone has a different story though.
Don't live in LIC if you want to be close to dt. Brooklyn heights has really gone up in price from what I understand; although gettting from DT BK to FiDi it is very easy. I just got home from work and am zapped but I will put some thought into this and think if I know anyone looking for a roomie and so on so forth. Bump this on Monday or send a pm if you still need help at that point.

Congrats again on the move!

Aug 29, 2016

Thanks Ray. Yeah, I really would kill for a roommate through WSO - I figure this site is filled with a more proper sort of villain than the typical craigslister. Other than that I plan to just show up in NY and start going from realty to realty.

Aug 29, 2016

why are ya moving :P whats the nw job

Aug 29, 2016

Eh, I figure if I'm in the city I have a better shot at a gig. Plus I've always wanted to live in NY.

Aug 29, 2016

Bumping this thread for Ray (he said he might have something today). I'm still looking so if anyone has any leads let me know! Thanks!

Aug 29, 2016

Hmm; Still thinking. If you would have done this a few weeks ago I knew of 2 people looking; although they do not work in finance they both had reasonably priced rooms open.

Aug 29, 2016

Can't help with the apartment but pm me when you're in the city and I may be to able to ask around to see if anyone could use your talents.

Aug 29, 2016

Are you anti big 4?

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Aug 29, 2016

Who is anti big 4? I'm not, although I dated a girl during my study abroad in college and we had a bit of a dirty break (she found out I had a girlfriend of 2 years while we were dating). Anyways she lives in my hometown now and does audit for D&T or E&Y (I forget which one but for all intents and purposes they are the same). Anyways I ran into her one night and she was with her "intake class" at an old haunt and one of the guys she was friendly with got jealous of me which lead him to try and belittle me with his superior cerebral abilities that he acquired through audit, I didn't realize people within big 4 had such hubris; more important than that why would they?

Aug 29, 2016
Aug 29, 2016

Thanks Ray!

Aug 29, 2016

Quick question - is it really weird if someone wants to see your CV before subletting to you? It seems kind of....shady.

Aug 29, 2016
monkeysama:

Quick question - is it really weird if someone wants to see your CV before subletting to you? It seems kind of....shady.

I don't think it is necessary but definitely not out of the ordinary for NYC. Where is this place at?

Aug 29, 2016

I don't want to say....I may retract my statement as now more than one person has asked "where are you going to work?" It just seems kind of weird, but I think that's a east coast/midwest culture difference. I know in the west the question is always "so what are you into?"

Aug 29, 2016
monkeysama:

I don't want to say....I may retract my statement as now more than one person has asked "where are you going to work?" It just seems kind of weird, but I think that's a east coast/midwest culture difference. I know in the west the question is always "so what are you into?"

Yes; people in NYC always ask "where do you work/what do you do?" it is just how people are.

Aug 29, 2016

I asked about Big 4 because Monkeysama could probably do well to hit them up once he's in town. I was referring to him with my question.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Aug 29, 2016

Um....do you mean big 4 accounting? The only thing they really hire economists for is to validate their transfer pricing models which is pretty much absolute fucking bullshit. Other than that I don't really have anything against accountants or accounting per se, or living with an accountant.

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Aug 29, 2016

Around Wall Street is where you should be looking. I have some friends that live in 44 Wall?? I think, but they have a nice gym on the top floor.

Aug 29, 2016

45 Wall, 2 Gold... pretty much most of the quality buildings down in the financial district. Very nice gyms, relatively spacious apts, doorman, laundry, etc. the only downside is that everything in the area shuts down when the mkts close.

Aug 29, 2016

herald tower (on 34/broadway) has an NYSC in it, have a buddy that lives there, nice place and a 10 second walk to NRW subway

Aug 29, 2016

can't remember the name of it but its on 31st and lex with the big turnaround in front. My buddy lived there.

Aug 29, 2016

sublet

if you want to live by yourself, check out listings on trulia
the agents there are usually pretty helpful
if you can afford it, try to live downtown

I'm not concerned with the very poor
-Mitt Romney

Aug 29, 2016

There are some apartments that are on the market 2 months before move in date where the tenant has given them a longer heads up that they won't be renewing.

The other option is to call up property management companies and ask them how many units they expect to have open in the month you are looking to move in. You can then look at units that are available to rent now to see what the area and the different places look like so that when a unit does open up you already know what to expect and can get a down payment/application in.

If you don't want to deal with the hassle, you can always get an apartment now and just pay for it while you are in training (maybe sublet if you can). It is a waste of money, but it makes things easier for you and you will be making decent money anyway so it might be worth wasting a few thousand.

Aug 29, 2016

if you write a good ad, craigslist works very well in NYC. you dont need a backup.

"The cheaper the crook, the gaudier the patter"

Aug 29, 2016

Sorry, may have been confusing. I'm looking to rent one not to rent one out.

Aug 29, 2016

If you live in or around NYC, you should use Craigslist. It will give you the cheapest options, and you can go to the actual apartments to verify. It's usually very obvious when someone is a scam (although not always).

However, if you don't live within commuting distance of NYC, I would suggest airbnb. It's technically illegal in NYC, but everyone does it anyway so who cares. The prices are generally inflated because the website charges a percentage as commission, but it's through a reputable third party service. I used airbnb for an apartment in NYC one summer, and I had some issues with the tenant and rent agreements (long story short, the building was evacuating its inhabitants ?? and we therefore couldn't remain the full stay). Airbnb really helped clear it up and refunded us for the time we didn't stay. If the website hadn't been there, she could have very easily kept the money (read: she definitely would have).

Basically, Craigslist will be cheaper and you're more likely to luck out and find a gem. However, airbnb is more reliable and is really great about preventing scams. PM me if you have any questions! This is my third summer subletting in NYC, and I've seen it all haha.

Aug 29, 2016

Craiglist is a good resource, but it is hard to sort through all the garbage. Personally I think it is easier to go directly to the property managers. Revaluate has a pretty comprehensive list.

Many people claim that agents are a waste of money, but the reality is that they can save you a lot of time. Unless you have a lot of time to spare, my suggestion would be to bite the bullet and have an agent take you around.

Aug 29, 2016

Midtown is generally very, very safe. There are some mildly sketchy areas way over on the west side, and there might be some on the east side too, but the biggest thing you have to worry about even there is cars and trucks rather than muggers.

A lot of bankers live in Midtown West. A lot.

Aug 29, 2016

down "midtown" west, by Lincoln tunnel gets sketchy. They built a bunch of new high rise buildings there that they can't fill, so rents are really cheap, but you'll want to avoid that area.

Aug 29, 2016

Manhattan in general is very safe and I wouldn't worry.

You should use Craigslist to find a place. Craigslist is also a good way to find brokers.

Generally you should start to look for an apartment maybe 6 weeks prior to the move-in date. If you are a banker, you will want to live close to work. And that means looking at what subway is close to your office, and living near a station that is on the same line as the station close to work (or being within walking distance from work).

Aug 29, 2016

true - they are desperate to fill, but the average rent for a tiny studio is still $2600 @ silver towers.

Aug 29, 2016

Would not recommend Midtown West, I lived there last year and its a total dump. East side is much much nicer.

Aug 29, 2016

Definitely avoid Midtown West, it's pretty shitty and you likely won't have many friends living around there. Stick with Midtown East and below (Murray Hill/Gramercy/East Village/LES) depending on your commute, how much you want to pay, what you can find, etc. There are nicer neighborhoods to live than this, but if your bank is in Midtown these will probably be the easiest to commute from. If you're at GS or Citi then you could consider living in Tribeca too, although it's probably more expensive than the other places I listed.

Also - Craigslist can be effective but you have to sort through so much garbage that I didn't find it that useful. There are other websites that list apartments on them that are much, much better than Craigslist. Street Easy is one.

Aug 29, 2016

Thanks for the info!

What do you guys think of Murray Hill in comparison to Midtown? Close to work (midtown), safety, and grocery shopping would be my top 3 things (and $ too) when looking.

Aug 29, 2016
jphtw:

Thanks for the info!

What do you guys think of Murray Hill in comparison to Midtown? Close to work (midtown), safety, and grocery shopping would be my top 3 things (and $ too) when looking.

Midtown - buildings are much larger, you feel much more like you're in the heart of the city, more chain restaurants (and conversely not really many hole-in-the-wall great places to eat), much busier (up to you whether or not this is a good thing). Despite many friends working in Midtown, very few choose to live there.

Murray Hill - smaller buildings, relatively more residential feel (although definitely still city-like), potentially cheaper, a shit ton of Indian restaurants, better for bars than Midtown. More of my friends who are one or two years out of undergrad live here than any other place in the city. This is less true as you get older, since people tend to care more about quality of life, and Murray Hill, while better than Midtown, definitely isn't the most interesting place in the world.

Also look at Union Square area. Most important thing is to be near some form of public transportation, i.e. not over on 1st Ave.

Aug 29, 2016

Also feel free to PM me if you want any more specific advice. Happy to help as much as I can.

Aug 29, 2016

A spammer resurrected this thread after several years and I responded. Due to a lack of context I am removing this comment.

Aug 29, 2016

Does anyone know of a good apartment broker for Chelsea or the West Village, who hopefully doesn't kill you too badly on the fee.

Aug 29, 2016

Honestly go the no-fee route. Spend 30-40 bucks, buy the no-fee books that list management companies, sit down one afternoon and make some calls. Totally worth it to save the huge brokers fee.

Aug 29, 2016

I did my last two apts the no-fee route, and will probably do this one as well. However, I know for a fact that a few of the apartments I really, really like are in buildings where the landlords will only deal with brokers.

So, the question still stands. If you need an apartment broker, whom have you used that you liked.

Aug 29, 2016

Can't honestly recommend a single one. They are either naive and cool or experienced and sleazy and everything in between. Pick your poison.

If you know the apt has a broker they work with, why not just go through the broker, doesn't seem like you have much of a choice.

Aug 29, 2016

Don't use citi habitats.

Aug 29, 2016

I'm not too familiar with the NYC market specifically, but in general you should be looking early and often. Most of the best places won't be on the market for long, so you want to be ready to jump on one if you find something good. Past that I'm sure there are plenty on here to fill you in on the nuances of the NYC market.

Aug 29, 2016

Yes, most apartments available at the end of march will require move in by May 1st at the latest, limiting your options. If you move in July 1st the best time for you to come is near the end of May/beginning of June.

Aug 29, 2016

I'm in the same boat as the OP. Any additional info would be greatly appreciated.

BTW all other advice I've heard thus far has been along the same line; some have even suggested I try to start looking no earlier than June.

Aug 29, 2016

Was wondering the same thing in my post a few threads down as I was going to look at some places next week.

Is mid to late May (1 to 2 weeks) too late to look if you're planning a June 1st move in? Understand choice might be limited, but logistically signing the lease and doing the paperwork?

Aug 29, 2016

Should be fine as long as you've got everything ready for paperwork (employment contract and other info)... I got an apt a few years back 1 week before we had to move in, but I wouldn't suggest doing that

Aug 29, 2016

Besides waiting until end of May/beginning of June, make sure that when you inquire about apts on craigslist (probably the best source) that you ask for the location/cross streets. A lot of times they won't tell you the cross streets because they are brokers and don't want other brokers coming in and getting their commission. While brokers are helpful and can show you additional nice places not listed, they are 100% not worth the fee in my opinion as you could buy nice furniture or a new monster flat screen tv for their cost. Look for no fee listed apartments around the city (meaning the apartment owner pays the broker the fee, not you). Finding an apt will take you more than just a weekend, it's basically 5 full days of searching since many places cannot be seen on any given day. Before you start try to figure out where you want to live, your price range, if you need a doorman (you don't since you can get packages delievered to work), and the convenience of traveling to work. If you don't mind walking farther, then you will probably pay less in rent and have a larger apt.

Aug 29, 2016

I think it really depends on your price range versus your living expectations. For example, if you're willing to shell out $2000 a month and don't mind walking 15 minutes to a subway, I bet you'll be able to find an apartment within like..two days. On the other hand, when I was apt hunting I had a very low budget and very specific criteria so it really took me a few weeks of checking on craigslist to find a place that worked out.

One thing about craigslist though, is that there are a lot of BS listings and it's best if you really follow and know the "market" for what you're looking for so you can easily spot unrealistic/scam postings.

Aug 29, 2016

keyboardcat is all over this one. i second both his posts.

Aug 29, 2016

sweet

Best Response
Aug 29, 2016

went to chipotle for a burrito and wanted guacamole but it was $2 extra...still want a burrito with guac and searching for alternative options.

    • 6
Aug 29, 2016

watch for e coli. alternative option would be Moe's, their queso is bomb. Food quality eh. Is the queso worth the eh burrito? Adjusted for e coli risk, of course.

Aug 29, 2016

was that the only apartment left in Manahattan?

    • 1
Aug 29, 2016

Did it have windows?

    • 1
Aug 29, 2016

I understand. I am looking an job near Chatrlote but Ididn't invterivew it yet..... Now I have my job in another City but still looking for a jobs.

    • 2
Aug 29, 2016
CRE:

I understand. I am looking an job near Chatrlote but Ididn't invterivew it yet..... Now I have my job in another City but still looking for a jobs.

I can hepl you very much. I recentlee got Iowa real etate license and find you nice apartment house in Seattle. Can yuo invest in my first fund to buy warehouses? I am excellent investor and can show returns with account I set up to fake trade exotic derivatives.

    • 2
Aug 29, 2016

08Dong thank u tso much. My unkle plais basketball for Seallte 4 cash and I orderered shoos off Amazin 2. Sum off my best frands live in warehouses n I am kool with tat loft life. Dew you know any rael estadium prosefionals in Chatrlote? I wnat to build stox.

    • 2
Aug 29, 2016

At my gym there are rubber dumbbells and steel dumbbells.

Sometimes the steel 25 pound dumbbells aren't available so I have to use the rubber ones. They feel lighter, so I was wondering if I should pick up another 5 pound dumbbell in each hand to offset the reduction in weight due to the less dense rubber.

Aug 29, 2016

Mr Thomos Dah
Auditing and Accounting Department
B.S.I.C Bank Limited
Cotonou,Republique Du Benin
Direct Tel:[]
Private Email:[email protected]

Good day,

With warm heart I offer my friendship, and my greetings,and I hope this letter meets you in good time.

It will be surprising for you to receive this proposal from me since you do not know me personally.

However, I am sincerely seeking your confidence in this transaction,which I, propose with my free mind and as a person of integrity.

A) It is practically impossible for me to carry out this business alone.

B) You live in a foreign land far away from mine.

This should normally not be a requirement, but when you understand the transaction then you will understand why it is important that you live far away from me.

C) The amount of money involved in this transaction is Fifteen Million one hundred thousand united states dollars (US$15,100,000.00) which is too much for a man of modest means like myself to handle in my country.

I believe from my few points above, you can begin to get an idea why I need your participation.I am writing you in respect of a foreign customer who has a Domicillary account in my bank.

His name was Engineer Frank oliver. He was among those who died in a plane crash, Since the demise of this our customer, Engineer Frank oliver,who was an oil merchant and import/exporter, I have kept a close watch of the deposit records and accounts and since then nobody has come to claim the money in this a/c as next of kin to the late Engineer.

He had only Fifteen Million one hundred thousand united states dollars(US$15,100,000.00) in his account and the account is coded.

It is only an insider that could produce the code of the deposit particulars.

As it stands now, there is nobody in that position to produce the needed information other than my very self considering my position in the bank.

Based on the reason that nobody has come forward to claim the deposit as next of kin,I hereby ask for you to send an application to the bank as he next of kin to the deceased and get this fund transfered into your foreign bank a/c for mutual sharing between myself and you,%5 for charity, 5% for expences we will incure just in case, 35% for you and 55% for me.

All I need is for you to follow my instructions closely because I am experienced in inheritance matters here and i am on ground here to advice you on every step until you receive the money.

What is required of you is to send an application to the bank as next of kin to the late Engineer and I promise you that everything will go smoothly.

I also indulge you not to make undo use of the information given to you, I need also to trust that you will not tell people or your bank about this business.

You will collect the money first, then I get my share, then you can tell anybody what you chose thereafter.I shall need your help to invest in your country therefore, any experience you have in this area will be beneficial.

Please feel free to call me on my direct telephone number for any question or further explanations if required and upon the receipt of your favourable responses I shall send to you a text of application which you shall send to the Bank putting claim over the deceased fund.

Yours truly,

Mr Thomos Dah

NB:Please contact me via my private email above.

Aug 29, 2016

^^ to top off an awesome thread, I get to the bottom and Nancy Hubert is there pushing dingleberry. WSO real estate just made my day

Aug 29, 2016

Nancy Hubert for president

(PS - haz u tried rentberry)

Aug 29, 2016

You can search for property on social networks, such as Facebook. Friend of mine found an apartment in such way.
Also check out property rental websites. Zillow, Rentberry, Trulia, Craigslist will be of a huge help for you.
Some landlords still list their properties in newspapers. Thus, they are also worth checking out.

    • 1
Aug 29, 2016

1) Probably start looking in March actually make a trip up in May

2) ideally a 3 bedroom with 2 roommates but I have no roommates. Definitely want a doorman and want it to be fairly new

3) $1200-$1500 tops.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Aug 29, 2016

I live with a roommate in a flex (=a one bedroom converted into a two bedroom with a flex wall in the living room) and we pay less than $1500/month. Plan on paying around $1500-2000 if you want to live by yourself.

I'd prefer to live by myself but having a roommate saves a lot--i'd say around $500/month, if not more.

Aug 29, 2016
mrvau:

I live with a roommate in a flex (=a one bedroom converted into a two bedroom with a flex wall in the living room) and we pay less than $1500/month. Plan on paying around $1500-2000 if you want to live by yourself.

I'd prefer to live by myself but having a roommate saves a lot--i'd say around $500/month, if not more.

Is living alone in NYC really that great? I've lived with 4 other guys all 4 years of college and will be moving to NYC (where I know no one) and am somewhat worried if I have to live alone.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Aug 29, 2016

thanks for responses guys, keep them coming! Maybe we could make this the roommate thread too haha

My preference will probably be one roommate, that way you avoid the additional cost of living alone and also don't have to deal with a lot of other people's problems if you know what I mean

mrvau, mind telling me more about your apt? do you share a bathroom/do you have a doorman etc

Aug 29, 2016

1)Training starts mid-July. Fly directly from my eurotrip/study abroad to NYC in mid-June to start looking for an apt w/ July 1st move-in.

2) 1-2 roommates. Prefer newer/renovated building and doorman/elevator if it doesn't get too expensive.

3) $1200-$1600

I don't think living alone is that great in NYC when you're doing banking. Honestly, its hard to develop a social life if you're working 80-100 hours a week and having the opportunity to have 1-2 roommates you can always count on to go out with as well as the ability to leverage their separate social circles is huge.

Aug 29, 2016

Get a roommate and save the money. You should find another banker and trust me you'll have great stories to tell each other and also never be in the apartment so it stays clean.

Aug 29, 2016

I'll make a roommate thread.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

Aug 29, 2016

youre going to need to start looking the month/month and a half before tops otherwise ur not going to see any rentable options

Aug 29, 2016

1) Plan on making a trip in May as well to look around and find something

2) 2 BDR or 3BDR. Hopefully have roommate, need to find some people that want to be roommates. Looking forward to your roommate thread Orangutan.

3) $1500 or $1600 Max

Aug 29, 2016

$1500 max.

Aug 29, 2016

1) Will probably go in May/June

2)2-4BR. Definitely want to have at least one roommate. Would be interested in roommate thread.

3)1500-1800

Aug 29, 2016

$1500 max as well. I lived in Union Square over the summer, and I loved it but I may settle on Brooklyn. A lot more space for the same price and there's a hell of a lot of character in Brooklyn too.

Aug 29, 2016
Veneratio1988:

$1500 max as well. I lived in Union Square over the summer, and I loved it but I may settle on Brooklyn. A lot more space for the same price and there's a hell of a lot of character in Brooklyn too.

Depends on what you're doing. Commuting just for school sucks; a ton of my friends do it and it isn't pretty. For IBD it just isn't feasible.

Have any of you looked into housing with any of the universities in the city?

Aug 29, 2016
  1. April - May (too early??)
  2. two-bedroom or three-bedroom
  3. 1500 - 1800
Aug 29, 2016

First of all, do not do anything until you physically see the place in the ad and talk to someone in person at their office.

Second, I have seen lots of places that have a sheet for a bank account info so they can just pull out rent each month and it is supposed to be "easier" on the person, but I like to have more control so I never fill them out. I have never see a place that mandates it though.

Aug 29, 2016

I can't physically see the place or talk to anyone in person cause I'm not gonna be in NY before move-in.

Aug 29, 2016

Social Security number is normal.

I have had places ask me for my bank account number before, but I told them I didn't feel comfortable with that.

As for cashiers check you will see this 99% of the time. At least for security deposit, brokers fee, condo/co-op fees, etc.

And seriously have someone look at the apt. Either a friend, colleague, ANYONE before you pay a dime. The real estate market in NYC can be very strange.

Aug 29, 2016

Yes. If you are renting by distance, either go with a major and well-document landlord (like a REIT) or have yourself or someone you trust see the place first. There are a lot of scams out there- don't place a deposit on an apartment without actually having independent verification that it exists.

Aug 29, 2016

That's good advice. I would love to take those precautions, but I don't really have anyone I could ask to see it. I could try and find a REIT, but I'm under a lot of time pressure, and won't really be in the states much before moving in.

What kind of information would I want to gather incase it turns out to be a scam in order to facilitate recourse?

Aug 29, 2016

I google streetview'd the address, and there's definitely an apartment building at the location.

Aug 29, 2016
Aug 29, 2016

Ask for a reference of someone who has stayed there before. Get their number, give em a call and ask about their experience.

Aug 29, 2016

You are probably fine, but just because there is an apartment building there doesn't mean that the realtor has a unit in that building to rent out.

One thing you can do is call the building and ask them who the realtor is that is listing the unit you are interested in. They should be able to give you that information.

Aug 29, 2016

So apparently this place is in a hotel.

Aug 29, 2016

You can generally sublet for a substantial time if you have another (family) address in the tri-state area to claim as your residence. Always go home to do things like vote.

Things might not go too well if you claim Wisconsin as your residence yet earn 9 months of NYC paychecks.

Aug 29, 2016

Use your parents address. NYC is not coming after someone who makes what you make. It wouldnt be worth their time for what they'd recover.

Aug 29, 2016

So do I let HR know Im renting in Manhattan for x amount of time? Or is not required

Aug 29, 2016
JSonDx:

So do I let HR know Im renting in Manhattan for x amount of time? Or is not required

Really?

Aug 29, 2016

I heard it wasn't really worth looking SERIOUSLY until about 6 weeks before you're ready to move in. I think that was basically just because the turnover in NYC is so fast. I've just been looking around at general neighborhoods to this point. Basically just trying to gain a better understanding of what's out there and for how much.

In addition, if anyone has started looking... Where have you been looking? (Craigslist, newspaper, etc?)

    • 1
Aug 29, 2016

Not worth looking into until about 3-4 weeks ahead of time, the market is so tight, rental occupancy is above 99%.

Aug 29, 2016

Rent-Direct worked for me - and its only a nominal fee. There was no way I was paying a broker. Zero chance.

1700 will get you a studio not a 1BR

Aug 29, 2016

I contacted a broker (just to get their opinion) and he suggested for a mid june move in to start looking at the end of April.

uppereastside...did you end up looking at 100 apts or did you find the site gave a good representation of the apts and only had to look at a few to make your decision.

I have a good friend working for a bank in midtown that spend half a month looking at listings on craigslist only to end up hiring a broker cuz the craigslist ads were bs.

I have been browsing the site Citi-Habitats as a way to get ideas.

Let us know if there are any great sites/brokers that we should look into (i.e. accurate info and low fees---btw what is "low fees" in NYC?)

Thanks

Aug 29, 2016

Not an exaggeration - the third apartment I looked at with Rent Direct I ended up getting. They are all legit listings.

Its only like $150, and you get a ton of no fee listings. Well worth it. Even if it doesn't work - so what if your out 150...

Aug 29, 2016

I'm thinking about subletting off craigslist or responding to a "roomate wanted" ad, and then finding a place I like during training. That way I can avoid getting stuck in a crappy place and will be able to ask people at the bank for advice...

Aug 29, 2016

If you want to live in a more modern building near midtown, you may find something good on rent direct. For neighborhoods where most of the apartments are in smaller buildings (i.e. the village, LES), you're probably going to need to pay a broker.

Broker fees can run from one month's rent to 12% of the annual rent (about a month and a half).

Craigslist listings are indeed bullshit. One good way to find an apartment is to take a day and pound the pavement--go into high rises around where you want to live and ask the doormen if there are any apartments for rent.

You will not get a one bedroom near midtown for $1,700. Maybe in the East Village, but it will be a truly disgusting hole.

Aug 29, 2016

Yeah $1700?? No way..for that you will get a nasty closet.

I'm planning to spend around $2200-$2500/month for a place in midtown (probably a studio)...I'd much rather spend a little less on alcohol and girls than live in an absolute craphole. You should be able to put about a third of you signing bonus to rent anyway. Assuming you get around 10k, and you have some work clothes already, you really just need to buy furnishings (which shouldn't cost more than 3k for a small apartment). I plan to live in an apartment building so don't expect to pay a broker fee.

Aug 29, 2016

So you think I'll need to dish out $2,200-$2,500 for a decent studio or 1-bedroom, I don't care if I live in a walk-up but I'm intent on living on my own.

Aug 29, 2016

FYI your 10k bonus amounts to 6k after taxes.

Aug 29, 2016

You won't be home, anyway, so you won't notice a roommate. This is even more true if you room with a fellow IBD analyst.

And, yes, your 10k signing bonus is only 6k and change after taxes.

Aug 29, 2016

i hear murray hill is fratty