Comments (183)

 
Feb 9, 2016 - 12:36am

Finding a place to live in New York City (Originally Posted: 04/30/2012)

Fellow monkeys,

I'm currently an undergraduate sophomore student attending a business school outside of New England.

I landed an internship position in NYC for the summer, and have started to look for housing for the summer (June-August). However, as someone's who never been in NYC apart from passing through JFK, the search for a place to stay has me a little anxious.

Where do I even begin my search?

I'm trying to keep the cost reasonable, as my internship is unpaid. However, I'd still like to be relatively close to my workplace in Midtown West/East. I've taken a look through Columbia/NYU/New School housing, but none of them are available anymore. I've also sifted through Craigslist for a few hours, and while there are certainly plenty of options out there, everything seems either a little too expensive or a little too sheisty.

The biggest problem for me is that I'm not able to physically check out the place before I move in. I'm not sure how much of an issue this will be, but I'm worried that I'll work out an arrangement with a person online/over the phone, and the guy will turn out to be some sort of psycho axe murderer, like a Patrick Bateman with no money.

Any advice on where I can start looking?

Thanks, fellas!

 
Feb 9, 2016 - 12:44am

Living in NYC being a first year IB analyst at a BB (Originally Posted: 06/02/2007)

I was thinking of renting a studio for about 1500-1800 monthly, making sure that is in a good neighborhood and close to the financial district..

Where do generally first year BB analysts live in NY::????

Any coments welcomed::::

 
Feb 9, 2016 - 12:55am

I am living with 3 other bankers in SoHo for 1500 each. Most people live in Midtown East (Murray Hill) or West (Hell's Kitchen).

As for living near work, I hear that people who did that said it was the worst decision they ever made. Living farther away allows yourself to mentally leave the office. If you are in the same neighborhood you work, every time you walk down the street you will think about stuff you should be doing for your boss. This was told to my group by numerous people!

 
Feb 9, 2016 - 12:57am

You can get a MUCH bigger place in Hell's Kitchen than in Soho for the same dough. Some of the SoHo places I saw were really absolute shite. Also, being close to work is HUGE especially when the weeks get long.

If you're in Murray Hill, the "not being able to leave work" thing does apply to some extent. In my opinion, Hell's Kitchen has a completely different feel to it than Murray Hill .. I would suggest you take a look.

Don't even think of Jersey.

 
Feb 9, 2016 - 12:58am

Moving to NYC - need some help about living options (Originally Posted: 08/05/2014)

First post here: I'm moving to NYC within the next 1-1.5 months or so for a new role. Job (not IB) will be 60-70/hour week range and total income including bonus will be around $300K. I'll be turning 30 soon and am married (no kids, and no plans to have them in next 2-3 years at least). Wife (not in Finance/Banking) will look for a new job.

I'm just looking for advice on someone at my level about living options if my requirements are a 2 bedroom and say 1K sqft and commute time of max 30-40 mins from lower manhattan. Restaurants/bars, etc. (or at least quick access to) would be good to have obviously.

I don't know NYC well but have been researching it but options seem to be Financial District/Battery Park (can walk to work), Hoboken/Jersey City (can save on taxes and get a nicer place for less) or certain areas of Brooklyn right across the river. I'd also like to keep rent at $5K if in NYC (or $4K if in Jersey). Not sure at $5K a nice 2 bedroom is doable in Manhattan? I will be put in temporary housing for the first month or so and employer will pay for broker fees, etc. Just trying to get a sense of areas I should concentrate on. I also understand I won't be paying NYC tax of ~3.5% if I live in Jersey.

Cheers!

 
Feb 9, 2016 - 1:06am

Finding a place to live in NYC? (Originally Posted: 01/14/2013)

So I just got some good news and will be moving to NYC for a 6 month equity research internship.
I will be starting at the end of march and finishing towards the end of September.
Can anybody offer any suggestions on finding housing for this 6 month period?

Thanks,

Ari

 
Feb 9, 2016 - 1:08am

Live in NYC (Originally Posted: 11/09/2006)

I am interning in NYC from January to March and am trying to find somewhere to live.

Everyone I have talked to has recommended Craigslist, but that has pretty much been a bust...just wondering if there are any other resources out there or if I should just eat the cost and hire a broker? Any broker experiences/recommendations would be much appreciated.

 
Feb 9, 2016 - 1:13am

Living in NYC - Going to school in Boston (Originally Posted: 12/21/2010)

Hey Guys,

I'm from Chicago and go to school in Boston. I've never really been to NYC for an extended period of time. I've only been there twice for 2 superdays so I haven't really gotten a chance to experience it. I got an offer for an Investment Bank located in on the northeast side of midtown. My salary will be $60,000, not sure if this is standard for IBD or what but I figured I'd give let you know so you knew the price range. I'm wondering if any of you could tell me what the best or most convenient areas for me to live will be. I don't want too have too long of a commute, probably no more than 20 minutes by subway. Any ideas? Where do most first year analysts live?

Thanks for the help

 
Feb 9, 2016 - 1:25am

Where to live in NY? (Originally Posted: 10/09/2013)

Hey - I'm moving to New York and am looking for a place/housing/roommates. Do you guys have any advice on which areas to live in? I'm mid 20's and am a bit past the college stage. Our office is in Midtown East.

Thanks for any help - also if anyone is looking for a roommate, please get in touch.

Regards,
Booger

 
Feb 9, 2016 - 1:28am

yeah, it totally depends on how much you're making
remember, the rule for rent is:

SALARY PER ANNUM/40= rent per month

so... if you're making a nice, round number... 40 k per year?
then that means you have $1000 for rent per month

assuming you want to live somewhere nice, you might need to get a roommate
if you're in finance and can afford places on your own, look into places in midtown

I'm not concerned with the very poor -Mitt Romney
 
Feb 9, 2016 - 1:29am

Mitt Romney:

yeah, it totally depends on how much you're making

remember, the rule for rent is:

SALARY PER ANNUM/40= rent per month

so... if you're making a nice, round number... 40 k per year?

then that means you have $1000 for rent per month

assuming you want to live somewhere nice, you might need to get a roommate

if you're in finance and can afford places on your own, look into places in midtown


is this rule on an after-tax basis?
 
Feb 9, 2016 - 1:33am

kidflash:

Mitt Romney:

yeah, it totally depends on how much you're making

remember, the rule for rent is:

SALARY PER ANNUM/40= rent per month

so... if you're making a nice, round number... 40 k per year?

then that means you have $1000 for rent per month

assuming you want to live somewhere nice, you might need to get a roommate

if you're in finance and can afford places on your own, look into places in midtown

is this rule on an after-tax basis?

Landlords use that as a criteria for accepting/rejecting your application. It's applied on pre-tax income.

 
Feb 9, 2016 - 1:30am

How would you describe yourself:
a. Frat bro
b. Hipster
c. Yuppie
d. Other (please explain)

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
Feb 9, 2016 - 1:32am

duffmt6:

How would you describe yourself:

a. Frat bro

b. Hipster

c. Yuppie

d. Other (please explain)


if you're a hipster masquerading as a incoming first year analyst in midtown, where should you be looking?
 
Best Response
Feb 9, 2016 - 1:34am

@kidflash Dirty and cheap east village. It's perfect.

@"Mitt Romney" that is incorrect, it is pre-tax basis.

For @Booger45 (interesting name), 80k can get you a nice room basically anywhere in a good apartment. You won't get your own apartment, but with roommates you have lots of possibilities.

West side > East side and you can take the orange line subway to Midtown in no time.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 
Feb 9, 2016 - 1:35am

kidflash:

duffmt6:

How would you describe yourself:

a. Frat bro

b. Hipster

c. Yuppie

d. Other (please explain)

if you're a hipster masquerading as a incoming first year analyst in midtown, where should you be looking?

East Village, as close to the 456 as you can get.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
Feb 9, 2016 - 1:38am

Higheck123:

Can anybody chime in on what my options would be at 55K? Probably no bonus and the office is in midtown.

Will really depend on how many people you are living with.

Assuming one roommate: FiDi, Harlem or outside Manhattan. Maybe some places in the LES or close to the FDR/West Side Highway.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
Feb 9, 2016 - 1:40am

Higheck123:

Any possible places without a roommate?

Maybe Washington Heights/Harlem. Studios in NYC are just out of control expensive. I would highly recommend living with other people.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
Feb 9, 2016 - 1:42am

Where Should I Rent? (NYC) (Originally Posted: 12/22/2010)

I'll be in NY over New Years and what to check out some buildings or at least areas. Office will be in Tribeca, roommate's office is on Wall Street.

What make the most sense for us to live in? Main concerns are price (around 1,500) and commute (easily walkable or near a subway), but it'd also be nice to be in an area where it's easy to go out / meet people.

Specific building names would be welcome as well.

 
Feb 9, 2016 - 1:59am

Lost: Senior Needing to Find NYC Apartment (Originally Posted: 03/19/2009)

Hey Guys,

So I am a senior moving to NYC for a July 1 start date. I feel so lost in how to start the apt search process, so I'd really appreciate any comments or advice from the great people on this site.

How do I start? I was thinking about mapping out neighborhoods that would be decent. Problem is I don't really know what is good, bad, or ugly for fresh out of college kids....Any advice?

Do I get a broker? If so, who are the best? Are they neighborhood-specific? Is there any ways to just talk to buildings?

Are there good websites that just talk about NYC real estate and building openings?

As you can see, I am pretty worried about this. Anything you got is appreciated.

 
Feb 9, 2016 - 2:22am

Transferring to NYC. Advice on finding a place within the next month? (Originally Posted: 04/24/2013)

I know this topic has probably been discussed at some point but, I need to find a place to live for mid-June. Offices are in mid-town and any advice on where to live, how to go about finding places/roommates is appreciated.

Im moving from London so will have limited time to apartment hunt over the next month or so...

 
Feb 9, 2016 - 2:25am

How easy is it to find a place in NYC? (Originally Posted: 10/02/2012)

Going to be a 1st Year starting next summer.. I'm planning on moving to the city. How long did your apartment search take? Did you opt for roommates... people you already knew? Searched for roommates? got a 1BR? Etc.. What is a REALISTIC amount of rent I can expect in Manhattan (in typically an area meant for a younger crowd)

 
Feb 9, 2016 - 2:40am

To the people who work downtown: (Originally Posted: 08/08/2007)

If you work in the Financial District:

  1. Where do you live?
  2. How much is your rent?
  3. Describe your commute.
  4. Given a chance, where would you live now (if not the same)? Why?
  5. How did you find your place?
  6. Living in Brooklyn or Jersey City vs. Manhattan?
  7. What would you change about your apartment search if you had to do it again?

Thanks for the help.

 
Feb 9, 2016 - 2:44am

I left the city a couple of months ago. This data was valid at the time I left.

90 Washington (Washington/Rector)

$2575 -- studio

Walk 20 minutes. Subway took around 12 minutes but I never took it -- why not save four bucks a day and get some fresh air?

Commute sucks and you never go anywhere.
Same.

Broker.

Take more time, look at more places.

 
Feb 9, 2016 - 2:49am

NYC Housing and Commuting Times (Originally Posted: 03/27/2011)

1) What's the average commute time for people working in IBD? Optimally, it'd be 0, but how long does it take you day to day?

2) How does a 20-30 minute commute each way sound? Is it manageable?

3) What's the best place to live considering price for those working in midtown?

No rain drop ever blames itself for the flood.
 
Feb 9, 2016 - 2:58am

Living on 10th Ave or beyond. Too far west? (Originally Posted: 06/16/2010)

Do any of you live on 10th or 11th aves In New York? I'm trying to find a nice unit in the city and it seems that there are plenty farther out west at relatively reasonable prices (Victory, Helena, etc). Problem is how far they are from subways and the rest of civilization in the city. Would appreciate any thoughts you guys have.

 
Feb 9, 2016 - 3:02am

i strongly recommend that you not live that far out.

when you're in NYC, everything you do requires the subway system (unless you cab every time). this means going out to the bar, visiting friends, going on vacation, getting to work, going to the park/museum, concert, everything. so if you live 15 minutes from the subway, EVERYTHING you do now takes at least 30 minutes longer.

in addition, living 15 minutes walk from a subway station does not mean your trip is ONLY 15 minutes longer. there are fewer stations out there and you are only close to 1 or 2 trains, possibly only local. that means you will need to wait longer at the station (SIGNIFICANTLY longer on nights and weekends) and that you will need to transfer to get to where you are going. as opposed to living somewhere with lots of trains (think union square) where you will have a lot of train choice.

unless it's a very tight money situation, you should just look to room with more people in slightly less conditions somewhere more convenient.

 
Feb 9, 2016 - 3:06am

I-Banking: Working Downtown Living Uptown (Originally Posted: 05/24/2010)

I found a great deal on a full-service 2 BR place near Port Authority with gym, doorman, etc. I'll be working downtown at a BB and will need to take the A,C,E which is manageable from the Port Authority area.

I'm looking for some advice on whether this location will be too far to manage once I start getting killed at work.

Thanks.

 
Feb 9, 2016 - 3:09am

I wouldn't recommend living that far away. As a first year you work insane hours and that hour commuting could be spent getting some much needed sleep. The FiDi is much cheaper since the real estate crash, you should be able to get a really nice JR 1 BD for less than $1250.

 
Feb 9, 2016 - 3:11am

Not in this situation yet, nor will I be in NYC, but when working so many hours a quick walk home would be the longest commute id want.

Can also take a quick walk home on a break if you need anything, shower to freshen up, or take a quick nap and get back to the office.. i dont know, but the last thing you want is another hour/day of commuting

 
Feb 9, 2016 - 3:18am

IlliniProgrammer:
Why not Exchange Place, Jersey City? 5 minute train ride under the river to tax-haven NJ from the World Trade Center. Save $350/month in taxes and get a really nice view.

I love how you plug Jersey in almost every post. I worked in Exchange Place one summer and did the reverse commute from 33rd and 6th, do they have a stop downtown too ?

 
Feb 9, 2016 - 3:20am

Living in New York (Originally Posted: 11/13/2009)

To the investment bankers living in New York: How do you like living and working in NY? Given a choice of other office locations, would you still choose NYC if you could go back and make that decision again?

I am asking because I am comparing different office locations and would like to know if you think that choosing New York is worth giving up the other office locations I could work at (ex. LA, SF, CLT). The obvious draw to New York is the fact that it is a financial center. I think that getting the opportunity to start working in investment banking there would be an amazing opportunity, and I can't think of a better time to get that experience than right after graduating from college. New York City also sounds like a fun place to spend a few years, and I would like a chance to get to know the city, at least to the extent that I can as an investment banking analyst.

With that said, though, it is also very cold during a good part of the year, the cost of living sounds extremely high, and I am sure that any apartment room I could afford is going to be a squeeze compared to other office locations (I am mainly comparing NY to CLT). I have heard many analysts talk about how much they hate those aspects of living in New York, and now that I will have a choice I am wondering if I should actually go for New York or avoid some of those issues and head to CLT instead. I have been interested in working in NY for a while, but now that I actually am going to have a choice I am not sure what to do.

Thanks for the input!

 
Feb 9, 2016 - 3:21am

I am wondering the same thing actually and I hope others offer good guidance. I have heard that in NY, bankers (even analysts) are typically much more cut throat then other locations. Is this true? Would it be more laid back in a office in like Atlanta or Chicago or even Charlotte as opposed to NY?

 
Feb 9, 2016 - 3:22am

NY isn't all that cracked up to be, its mostly because people associate finance with NYC. I would say go to where you like your GROUPS (you'll work 100 hours with them) and where you like the PEOPLE. Once you start working you'll realize that this is the number one most important. I'd rather be in Ohio with cool people than in NYC with dbags.

 
Feb 9, 2016 - 3:23am

I have the same decision to make. I'm leaning towards Charlotte for the same reasons already mentioned- I like the group, it's obviously a better cost of living and it's just a more laid back lifestyle. But I'm concerned about the exit opportunities. I feel like it is worth it to go to NY for 2 years because of how much it will help with PE, etc. Does anyone have any input on this?

 
Feb 9, 2016 - 3:24am

I think I'm with 1styearBanker on this one. Your first priority should be to like the people you work with. If you can't stand them it's going to be miserable for you. Plus, working in NYC is really no big deal. I don't live in the city but I do commute into it. You'll enjoy the first 3 months because its all new to you. Then it'll be really no big deal, and, if you're not used to a big city, you'll get swallowed up into it. It's not for everyone. I'm actually from a small town in upstate NY. I'm only in the city because I work there. Other than that I hate NYC and would take another job at a smaller firm in a smaller city if I had the opportunity. Believe me, you do not want to live in the city. Even living in a place like Brooklyn or the Bronx will quickly break the bank, unless you are bringing in at least $100K and/or have substantial savings already. Unless you want to live in a bug infested shithole, expect to shell out at least $2,000/month for rent.

 
Feb 9, 2016 - 3:27am

Where to Live (Originally Posted: 03/10/2013)

I will be interning at a PE firm in midtown NY this summer (6th and 40 something I think) for my sophomore summer. I am very new to the area (only took a vacation there for 4 days) and am trying to figure out living situations. I really would like to take home as much money as I can after the summer and spend very little on rent. I know I will be told to use the search function but maybe someone can just help me out. Some friends of mine live in Greenwich and have offered to let me stay for free and take the express train in every day. How long will this take? ~45 min I hear? Is this going to be extremely difficult doing every day for 9 weeks especially if I plan on staying out at night on the weekends in the city? How expensive is the monthly express ticket? How much would the cheapest 2/3 bedroom place be per month in the city that would be fairly close to where I am working? What are some other places/towns outside of the city I could rent for ~500 per month per person or less (have a friend working in the city too ).

 
Feb 9, 2016 - 3:28am

Monthly ticket isn't bad. (Like 400 or so, can't remember; just look on MTA) and 500 is going to be very/impossibly hard to find. My friend lives on LES (1st and 20th) and pays 1400/month for a room with three room mates.

Look in Jersey if you want cheap, or outside of the City. Queens, White Plains, Stamford, Jersey are all relatively cheaper.

"History doesn't repeat itself, but it does rhyme."
 
Feb 9, 2016 - 3:32am

streetwannabe:
Monthly ticket isn't bad. (Like 400 or so, can't remember; just look on MTA) and 500 is going to be very/impossibly hard to find. My friend lives on LES (1st and 20th) and pays 1400/month for a room with three room mates.

Look in Jersey if you want cheap, or outside of the City. Queens, White Plains, Stamford, Jersey are all relatively cheaper.

LOL I will laugh so hard if this guy takes your advice and lives in White Plains/Stamford. Good 1-2 hour commute ftl.

 
Feb 9, 2016 - 3:30am
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