New Yorkers, where would you live in NYC for $3k/mo?

[Ulysses]

So, here's the deal. Sometime in the next few months, I might sell my company here in SF. If that happens, I'll probably look for a change of scenery. I've been here for a while and it's probably time for a change. One of my options is NYC, largely due to some exciting business opportunities there.

So, here's the question. If I decide to move to NYC, where should I live? I'd ideally be looking for a 1br place and would like to spend $3k or less per month. I love hanging out in the E Village, SoHo, etc. I don't find myself hanging out in UWS/UES very much. I like to go to restaurants and bars all around the city, so easy access to trains is key. So, given those criteria, where would you live?

[Macdaddy Warsaw]

How much are studios in SoHo? I can't imagine it being anywhere near 3k, but I just live in NYC, I don't apartment hunt, so I have no idea. My friend lives in a huge place on the UWS and pays 3.5k for an absolutely amazing 3br place.

So, yeah, live where you like to hang out.

[KaneKungFu123]

how cold does it get in SF?

[bennyk]

For 3k/month, I hope you're buying.

Yeah the city is cool but I'd buy in Cobble Hill or the Slope right now. These places will not decrease in value.

As far as convenience, you're as close to your bars & restaurants in Brooklyn or some places in Queens as you are in the city. It takes me 25 minutes to get most places north of 21 and and only a little longer to get further. In my experience you'll spend that at least that long in transit from withing manhattan.

Plus it's nice in the boroughs, and it usually doesn't smell like garbage.

But for 3k, you can probably be very choosy about where you end up. That's a lot to pay, even in NYC (possibly not for a high-rolling 2+2'er).

bk

[GreywolfNYC]

Check out Union Square and Greenwich Village in the vicinity of 8th Street around University Place & Broadway. Union Square has become a very hip neighborhood with lots of good bars & restaurants and subway access to pretty much all of Manhattan. I'm a lifelong (and old) native NYer so PM me if you'd like more specifics.

[Luv2DriveTT]

I'm moving out of my place in January, I pay 3K/month rent. I live in the Hudson River (no joke, I really do... see Bunky's Bunkfest trip report for details) Its perfect if you want to own a car too, and pay lower taxes that NYC residents. 1,500 square feet, 2 bedrooms & a den for my computer.

PS: You can't buy anything good and expect to pay 3K a month in NYC, but thats a great range for a rental.

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[superleeds]

[ QUOTE ]
I love hanging out in the E Village, SoHo,

[/ QUOTE ]

Answered your own question

[xadrez]

You can buy amazing apartments in Washington Heights overlooking the river and your mortgage will be considerably less than 3K a month.

If I could buy anything in NYC it'd be a brownstone in Harlem. Uptown is the sh!t.

[HoldEm_Hero]

El D

I just moved from New York back home to Florida recently. If I were were you I would live in the lower west side/ financial district area. I lived on 400 Chambers Street in Tribeca Park in a 2/2 and paid $4200 month. It was beautiful, right on Battery Park, overlooking the Hudson and Jersey. Chambers has every line on the subway, 1, 3 everything. Also some great smaller bars down there. That would be my opinion, hope it all works out for you.

[slickpoppa]

[ QUOTE ]
For 3k/month, I hope you're buying.

Yeah the city is cool but I'd buy in Cobble Hill or the Slope right now. These places will not decrease in value.

As far as convenience, you're as close to your bars & restaurants in Brooklyn or some places in Queens as you are in the city. It takes me 25 minutes to get most places north of 21 and and only a little longer to get further. In my experience you'll spend that at least that long in transit from withing manhattan.

Plus it's nice in the boroughs, and it usually doesn't smell like garbage.

But for 3k, you can probably be very choosy about where you end up. That's a lot to pay, even in NYC (possibly not for a high-rolling 2+2'er).

bk

[/ QUOTE ]

Some of you guys are completely ignoring his original criteria. If he likes Soho and going out to bars in Manhattan obviously he doesnt want to live there.

[freekobe]

[ QUOTE ]
El D

I just moved from New York back home to Florida recently. If I were were you I would live in the lower west side/ financial district area. I lived on 400 Chambers Street in Tribeca Park in a 2/2 and paid $4200 month. It was beautiful, right on Battery Park, overlooking the Hudson and Jersey. Chambers has every line on the subway, 1, 3 everything. Also some great smaller bars down there. That would be my opinion, hope it all works out for you.

[/ QUOTE ]

No idea how old El Diablo is, but the suggestions above (Washington Heights, Brooklyn, and Tribeca) are all pretty bad given the fact that you like SoHo and the Village and you can afford 3K/month. The biggest reason people live in those places is to conserve money - sounds like you're not interested in that.

If you're mid to late 20s or early 30s, go West Village. Great neighborhood. Great restaurants. Close to transportation. And you can find decent (but not great) 1BRs in that price range. You will not find 2BRs in that price range.

Otherwise, Union Square is good too. If you're the going-out type or like to be around "the scene," stay away from the UES and UWS (FWIW, I live on the UWS, but I'm married, so I'm allowed).

[handsome]

[ QUOTE ]
So, here's the deal. Sometime in the next few months, I might sell my company here in SF. If that happens, I'll probably look for a change of scenery. I've been here for a while and it's probably time for a change. One of my options is NYC, largely due to some exciting business opportunities there.

So, here's the question. If I decide to move to NYC, where should I live? I'd ideally be looking for a 1br place and would like to spend $3k or less per month. I love hanging out in the E Village, SoHo, etc. I don't find myself hanging out in UWS/UES very much. I like to go to restaurants and bars all around the city, so easy access to trains is key. So, given those criteria, where would you live?

[/ QUOTE ]

1. Greenwich Village (north of SoHo)
2. West Village (west of Greenwich Village)
3. Littly Italy (east of SoHo)
4. SoHo
5. East Village

Greenwich Village is #1 due to the hot NYU bitchz that live there. Given your criteria, I wouldn't live anywhere other than one of these 5 places.

[sfer]

My building. Honestly. 5 minute walk to Union Square, 5 minute walk to every north/south subway line, on the same block as the NRQW/6, plenty of places to eat nearby, walking distance to good coffee, the Greenmarket, and Esa Bagel on weekend mornings, a great staff, a free gym on the 3rd floor, money card operated laundry on every floor, great views north overlooking Madison Square Park, and a Chase ATM in the lobby.

[Paluka]

Union Square, West Village, Soho, Noho are all great options. Even Chelsea is fine. I think you will have a hard time finding an apartment you like in the East Village, but there are some new buildings on Houston.

[Luv2DriveTT]

Where Sfer lives is where I want to move in January if I sell my car, which is a realistic possibility. So many variables...

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[Luv2DriveTT]

[ QUOTE ]
Union Square, West Village, Soho, Noho are all great options. Even Chelsea is fine. I think you will have a hard time finding an apartment you like in the East Village, but there are some new buildings on Houston.

[/ QUOTE ]

Thats too downscale for our friend El' D. Think big /images/graemlins/smile.gif

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[BottlesOf]

You've got a lot of options open to you. I'd go with a nice doorman bldg in the West Village. Search Craigslist just to get a sense of neighborhoods and what your options are.

Under no circumstances live where TT lives.

[turnipmonster]

given that access to trains is key, I would go with somewhere around union square or somewhere around west 4th st, leaning heavily towards w4th cause the west village is a lot more neigborhood like than the union square area.

if you generally cab it late at night I wouldn't worry so much about living near a big train stop, but if not it will save you a lot of waiting around time.

--turnipmonster

[Paluka]

[ QUOTE ]
[ QUOTE ]
Union Square, West Village, Soho, Noho are all great options. Even Chelsea is fine. I think you will have a hard time finding an apartment you like in the East Village, but there are some new buildings on Houston.

[/ QUOTE ]

Thats too downscale for our friend El' D. Think big /images/graemlins/smile.gif

TT /images/graemlins/club.gif

[/ QUOTE ]

The new buildings on Houston aren't downscale at all, most of them are very expensive.

[BottlesOf]

I agree with this. I think when you go to nice restaurants and stuff you'll probably be cabbing it. I think W.4 is a good loc, you can be on Waverly or a small street near Waverly or Bleecker. I think North of Washington Sq. park, possibly on 5th Ave, as long as you're within a few blocks of the park would be good.

[Voltron87]

how has no one even mentioned riverside drive

[La Brujita]

Also depends a little where your office will be. I personally like either Union Square area or 11th-14th streets around 6th-8th aves. Latter has very nice places, beautiful streets, quiet but in the center of the action.

Edit to say after reading other responses living around W 4th street (which I did for a summer) is another idea. The reason I didn't put it on is it is a little louder and dirtier and is a very easy walk from a little north.

[Luv2DriveTT]

[ QUOTE ]
how has no one even mentioned riverside drive

[/ QUOTE ]

Cause it's out of the way and inconvenient. But it is very nice up there.

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[turnipmonster]

I personally like a good walk after dinner/drinking, so living somewhere that's within walking distance from both soho/east village would be my choice.

[Voltron87]

[ QUOTE ]
[ QUOTE ]
how has no one even mentioned riverside drive

[/ QUOTE ]

Cause it's out of the way and inconvenient. But it is very nice up there.

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[/ QUOTE ]


obviously it doesnt fit el ds priorities very well but i think its worth a mention. i lived there with a friend for a month or so i and didnt think it was inconvenient at all. if you go farther up north (90s+) you wont be that far away at all from the 1/9, as opposed to the 70s where its 3 long avenues or whatnot.

[Luv2DriveTT]

[ QUOTE ]
You've got a lot of options open to you. I'd go with a nice doorman bldg in the West Village. Search Craigslist just to get a sense of neighborhoods and what your options are.

Under no circumstances live where TT lives.

[/ QUOTE ]

Unless you don't want to live like a King.

My place would be near 10K/month (I'm not kidding... my place is expensive for Jersey City, but super cheep when you compare it to what was available for the same caliber in Manhattan) if I lived in Manhattan proper, instead I'm 4 1/2 minutes away by train to the World Trade Center, and 25 mins total from Soho. Its easier to get to my place to the Soho area than it is to get from JBB's current place.

Funny thing is that if I decide to sell my car I'm moving back to Manhattan. If I get a new car (I'm slobbering over Max Power's new Accura) I'm staying put. The tax and transportation benefits are huge, and the quality of life is far better than if I moved back to Manhattan.

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[fsuplayer]

[ QUOTE ]
[ QUOTE ]
You've got a lot of options open to you. I'd go with a nice doorman bldg in the West Village. Search Craigslist just to get a sense of neighborhoods and what your options are.

Under no circumstances live where TT lives.

[/ QUOTE ]

Unless you don't want to live like a King.

My place would be near 10K/month (I'm not kidding... my place is expensive for Jersey City, but super cheep when you compare it to what was available for the same caliber in Manhattan) if I lived in Manhattan proper, instead I'm 4 1/2 minutes away by train to the World Trade Center, and 25 mins total from Soho. Its easier to get to my place to the Soho area than it is to get from JBB's current place.

Funny thing is that if I decide to sell my car I'm moving back to Manhattan. If I get a new car (I'm slobbering over Max Power's new Accura) I'm staying put. The tax and transportation benefits are huge, and the quality of life is far better than if I moved back to Manhattan.

TT /images/graemlins/club.gif

[/ QUOTE ]

what type of acura?

[TheWorstPlayer]

[ QUOTE ]
SoHo

[/ QUOTE ]

[IndieMatty]

www.ardorny.com (http://www.ardorny.com)

gives you a great idea of what the prices and locales are for the money.

[Ulysses]

Thanks for the responses. If I decide to go this route, it's still a ways away. One of my options would involve me working near the WTC, in case that has any bearing on people's suggestions. Most of the suggestions seem to be near lines that go straight there, though.

[Paluka]

[ QUOTE ]
Thanks for the responses. If I decide to go this route, it's still a ways away. One of my options would involve me working near the WTC, in case that has any bearing on people's suggestions. Most of the suggestions seem to be near lines that go straight there, though.

[/ QUOTE ]

You could move in with me and my wife and commute with me. We need someone to do the laundry, feed the cats, and play high stakes no-limit holdem.

[sfer]

[ QUOTE ]
[ QUOTE ]
Thanks for the responses. If I decide to go this route, it's still a ways away. One of my options would involve me working near the WTC, in case that has any bearing on people's suggestions. Most of the suggestions seem to be near lines that go straight there, though.

[/ QUOTE ]

You could move in with me and my wife and commute with me. We need someone to do the laundry, feed the cats, and play high stakes no-limit holdem.

[/ QUOTE ]

I bet you guys would watch Law and Order together.

[astroglide]

i don't know [censored] about NYC but based on my visit there i would live in what i think was called washington square

[Philuva]

East village. You can get a sweet 1BR for $3K/mo. I had a 1BR for $1,800 a couple of years ago. I lived on east 11th st between 2nd and 3rd ave which I liked a lot. It was close to all bars and rastaurants in the village but I was also close to the Union Sq. subway stop which you can pretty much get to anywhere from there since it is a major subway stop.

If you are looking to spend $3k, it seems like you might want a new building with doorman and all that crap, unfortunately, there are not many of those buildings in the village, but my friend lives in a very nice new building on East 7th st. between Ave. B and C. It is a REALLY nice place, but a little far from the subway, but I think it goes for like $2,500/mo.

[Luv2DriveTT]

[ QUOTE ]
Thanks for the responses. If I decide to go this route, it's still a ways away. One of my options would involve me working near the WTC, in case that has any bearing on people's suggestions. Most of the suggestions seem to be near lines that go straight there, though.

[/ QUOTE ]

I live 4 1/2 minutes by train from the WTC, and the train leaves ever 4 minutes during the day, every 15 minutes in the evening, every 1/2 hour from midnight on. I think you should look at my area reguardless of JBB's opinion (he has never been here before).

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[Evan]

[ QUOTE ]
I think you should look at my area reguardless of JBB's opinion (he has never been here before).

[/ QUOTE ]
While there is nothing wrong with your place, it's not even in the state he wants to live in. Hanging out int he neighborhoods he described would be a much more laborious task from your apartment than it would be from somewhere in U Sq./Greenwich Village/SoHo/etc.

[Luv2DriveTT]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
You've got a lot of options open to you. I'd go with a nice doorman bldg in the West Village. Search Craigslist just to get a sense of neighborhoods and what your options are.

Under no circumstances live where TT lives.

[/ QUOTE ]

Unless you don't want to live like a King.

My place would be near 10K/month (I'm not kidding... my place is expensive for Jersey City, but super cheep when you compare it to what was available for the same caliber in Manhattan) if I lived in Manhattan proper, instead I'm 4 1/2 minutes away by train to the World Trade Center, and 25 mins total from Soho. Its easier to get to my place to the Soho area than it is to get from JBB's current place.

Funny thing is that if I decide to sell my car I'm moving back to Manhattan. If I get a new car (I'm slobbering over Max Power's new Accura) I'm staying put. The tax and transportation benefits are huge, and the quality of life is far better than if I moved back to Manhattan.

TT /images/graemlins/club.gif

[/ QUOTE ]

what type of acura?

[/ QUOTE ]

RL. Its a step down from my current Audi TT, but I need to save some cash. The NX isn't 1/2 bad either. I'm also considering a Mini.

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[Evan]

[ QUOTE ]

RL. Its a step down from my current Audi TT

[/ QUOTE ]
Do you know how much Acura RL's cost?

[MercTec]

[ QUOTE ]
[ QUOTE ]

RL. Its a step down from my current Audi TT

[/ QUOTE ]
Do you know how much Acura RL's cost?

[/ QUOTE ]

RL's are sweet. Technologically an amazing car as well...not to mention all wheel drive.

When you say NX, do you mean NSX?

I hope the Mini thing was a joke.

[BottlesOf]

[ QUOTE ]
My place would be near 10K/month

[/ QUOTE ]

This I don't believe, but I've never seen it so I don't know.

Also, if you live in one state and work in another, this actually icnreases tax complications and in some cases, tax liability.

TT: When did you become the Jersey City troll?

[Evan]

[ QUOTE ]

RL's are sweet. Technologically an amazing car as well...not to mention all wheel drive.

[/ QUOTE ]

I agree. My point was that it is in no way a step down from a TT.

[MercTec]

I agree. My point was that it is in no way a step down from a TT.

[/ QUOTE ]

Definitely not...its Acura's friggin flagship. Step up if you ask me.

[BottlesOf]

Also, a lot of the bldgs there are Co-ops and Condos, it's harder to find rentals in the really prime areas.

[bennyk]

[ QUOTE ]

Some of you guys are completely ignoring his original criteria. If he likes Soho and going out to bars in Manhattan obviously he doesnt want to live there.

[/ QUOTE ]

what are you talking about? reread his post and mine. or, better yet, don't. you are being a tool.

btw, your suggestion was magnificent.
bk

[Derek in NYC]

How old are you?

[Derek in NYC]

[ QUOTE ]
Under no circumstances live where TT lives.

[/ QUOTE ]

Unless you like bridges and tunnels.

[whiskeytown]

you can't move -

I was gonna come visit and borrow your place and say it was mine - LOL - (didn't they do that in a Martin Short film?) -
Where in God's green earth would you move to? - You already got the best view/spot in the city...

although Wayfare's was great too -

RB

[Nigel]

[ QUOTE ]
For 3k/month, I hope you're buying.

But for 3k, you can probably be very choosy about where you end up. That's a lot to pay, even in NYC (

[/ QUOTE ]

Studios alone in NYC can cost $500,000+ to buy, and nice places are hard to find and very $$$, so buying isn't a viable option for most people.

For renting, $3k/month is not a lot to pay for anyplace nice in Manhattan, and won't allow you to be "choosy". $3k is basically the starting point for having a decent place in a nice neighborhood.

Frankly, if you can afford it, I would think about spending $4-5k, because then your options open up and you can start looking at places that you could actually consider "home". What you get for $4k+ is so much more than what you get for ~$3k and is in another world from what you get for ~$2k.

As for location, ppend some time in NYC and get to know Tribeca, Soho, the Village, Flatiron, Chelsea, and CPW/UES. See which area suits your lifestyle and your aqe.

Caveat emptor, great city to visit, but one tough city to live in. My friends who have lived in California look 10 years younger after a few years of not seeing them, while my friends in NYC look 10 years older. I would think SF->NYC is a seriously -EV move.

Good luck though,

Nigel

[sfer]

[ QUOTE ]
I would think SF->NYC is a seriously -EV move.


[/ QUOTE ]

I did it. I'd do it again.

[fryKing]

You walk to Ess-A-Bagel from your building on weekend mornings? Damn, I live like 2 blocks away and I think it's still kind of far to go before I've had some coffee and breakfast.

[BottlesOf]

[ QUOTE ]

Frankly, if you can afford it, I would think about spending $4-5k, because then your options open up and you can start looking at places that you could actually consider "home". What you get for $4k+ is so much more than what you get for ~$3k and is in another world from what you get for ~$2k.

[/ QUOTE ]

Having just gone through the moving thing and looking into all kinds of stuff (including some of the above even though I had no intention of spending this much) I think the above is true.

You can get a pimp 1 br in a luxury bldg in most neighborhoods if you're willing to bump up your spend. 3K will get you a perfectly fine 1 br in a great neighborhood, but if you want to have the best options you need to spend a little more.

[Ulysses]

[ QUOTE ]
given that access to trains is key, I would go with somewhere around union square or somewhere around west 4th st, leaning heavily towards w4th cause the west village is a lot more neigborhood like than the union square area.

if you generally cab it late at night I wouldn't worry so much about living near a big train stop, but if not it will save you a lot of waiting around time.



[/ QUOTE ]

I like Sushi Samba a lot, so W 4th is good. I think around there or around Union Square are prob the places. Maybe Tribeca.

[Luv2DriveTT]

[ QUOTE ]
I agree. My point was that it is in no way a step down from a TT.

[/ QUOTE ]

Definitely not...its Acura's friggin flagship. Step up if you ask me.

[/ QUOTE ]

I kid... I kid.... of course its a step up

The RL is awesome. But lets face it, I love to drive my TT. So its going to be tough walking away from my baby girl if I make the switch. If I stick with the Audi, then I would switch from stick to the top of the line tiptronic V6, I think its 46K base, I can't verify cause the website is down for maintenance.

AS FOR THE MINI I wasn't kidding. If I am forced to save $$$ while keeping a car, then the mini is the best bet I have seen so far. Its all up to the IRS, I owe them a ton.

PS: Jersey City Rules!

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[Ulysses]

[ QUOTE ]
[ QUOTE ]

Frankly, if you can afford it, I would think about spending $4-5k, because then your options open up and you can start looking at places that you could actually consider "home". What you get for $4k+ is so much more than what you get for ~$3k and is in another world from what you get for ~$2k.

[/ QUOTE ]

Having just gone through the moving thing and looking into all kinds of stuff (including some of the above even though I had no intention of spending this much) I think the above is true.

You can get a pimp 1 br in a luxury bldg in most neighborhoods if you're willing to bump up your spend. 3K will get you a perfectly fine 1 br in a great neighborhood, but if you want to have the best options you need to spend a little more.

[/ QUOTE ]

That's what I was kind of afraid of based on cruising around and checking out some places from time to time.

[Luv2DriveTT]

[ QUOTE ]
That's what I was kind of afraid of based on cruising around and checking out some places from time to time.

[/ QUOTE ]

Why don't you tell us what kind of place you currently live in (square footage), and what you would expect for your 3K/month.

Keep in mind that in NYC the general rule is the average resident pays 25%-30% of their income on housing. So if you are clearing more than 144K/year (I would assume so, but I don't want to be that bold), you might want to consider paying more per month to find the ideal location.

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[Ulysses]

[ QUOTE ]
[ QUOTE ]
That's what I was kind of afraid of based on cruising around and checking out some places from time to time.

[/ QUOTE ]

Why don't you tell us what kind of place you currently live in (square footage), and what you would expect for your 3K/month.

Keep in mind that in NYC the general rule is the average resident pays 25%-30% of their income on housing. So if you are clearing more than 144K/year (I would assume so, but I don't want to be that bold), you might want to consider paying more per month to find the ideal location.

TT /images/graemlins/club.gif

[/ QUOTE ]

25-30% before or after tax?

[Luv2DriveTT]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
That's what I was kind of afraid of based on cruising around and checking out some places from time to time.

[/ QUOTE ]

Why don't you tell us what kind of place you currently live in (square footage), and what you would expect for your 3K/month.

Keep in mind that in NYC the general rule is the average resident pays 25%-30% of their income on housing. So if you are clearing more than 144K/year (I would assume so, but I don't want to be that bold), you might want to consider paying more per month to find the ideal location.

TT /images/graemlins/club.gif

[/ QUOTE ]

25-30% before or after tax?

[/ QUOTE ]

Before. Sad isn't it?

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[sfer]

[ QUOTE ]
[ QUOTE ]

Frankly, if you can afford it, I would think about spending $4-5k, because then your options open up and you can start looking at places that you could actually consider "home". What you get for $4k+ is so much more than what you get for ~$3k and is in another world from what you get for ~$2k.

[/ QUOTE ]

Having just gone through the moving thing and looking into all kinds of stuff (including some of the above even though I had no intention of spending this much) I think the above is true.

You can get a pimp 1 br in a luxury bldg in most neighborhoods if you're willing to bump up your spend. 3K will get you a perfectly fine 1 br in a great neighborhood, but if you want to have the best options you need to spend a little more.

[/ QUOTE ]

I think expecting to pay under 3K for a one-bedroom in a doorman building is perfectly reasonable with only very few exceptions.

[J.A.Sucker]

Dude, rental? With all that money that you'll get from selling your company, you'll be able to BUY all of manhattan yourself. Gift of Gab could be your butler, and bad beetz your doorman.

I'll be your "financial advisor."

[Luv2DriveTT]

[ QUOTE ]
I think expecting to pay under 3K for a one-bedroom in a doorman building is perfectly reasonable with only very few exceptions.

[/ QUOTE ]

Yes, but not a great doorman building.

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[Nick-Zack]

I am in shock about the amount of money you guys are talking about spending on an apartment. How can anyone afford that kind of cash. My mortgage on this 4 bedroom - 2 1/2 bath - 2 car garage on almost 1 acre is only $1100. Of course I dont live in NYC.

[Luv2DriveTT]

[ QUOTE ]
I am in shock about the amount of money you guys are talking about spending on an apartment. How can anyone afford that kind of cash. My mortgage on this 4 bedroom - 2 1/2 bath - 2 car garage on almost 1 acre is only $1100. Of course I don't live in NYC.

[/ QUOTE ]

We make more $$$ than you guys who live in other states, thats the only way it could be possible. Luckily I think it almost all evens out in the end.

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[Nigel]

[ QUOTE ]
I like Sushi Samba a lot, so W 4th is good. I think around there or around Union Square are prob the places. Maybe Tribeca.

[/ QUOTE ]

Slightly off the topic of the thread, but other places you might want to try for Sushi are Blue Ribbon Sushi and Omen for their Sashimi - both in Soho. There is a place in the village, can't remember the name, but it's on Thompson I think, that is really, really popular with lines going down the street to get in, but I have been disappointed everytime I have been there.

Also, not a sushi place, but the original Blue Ribbon (down the street from Blue Ribbon Sushi, has great food and is also a great late night spot as they serve until 4 am I think.

Nigel

[Ulysses]

[ QUOTE ]
[ QUOTE ]
I like Sushi Samba a lot, so W 4th is good. I think around there or around Union Square are prob the places. Maybe Tribeca.

[/ QUOTE ]

Slightly off the topic of the thread, but other places you might want to try for Sushi are Blue Ribbon Sushi and Omen for their Sashimi - both in Soho. There is a place in the village, can't remember the name, but it's on Thompson I think, that is really, really popular with lines going down the street to get in, but I have been disappointed everytime I have been there.

Also, not a sushi place, but the original Blue Ribbon (down the street from Blue Ribbon Sushi, has great food and is also a great late night spot as they serve until 4 am I think.

Nigel

[/ QUOTE ]

Tomoe is probably the other place you're thinking of. I've been to Blue Ribbon Sushi a lot. It's good, but damn expensive if I recall. I'll check out this Omen place.

[Luv2DriveTT]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I like Sushi Samba a lot, so W 4th is good. I think around there or around Union Square are prob the places. Maybe Tribeca.

[/ QUOTE ]

Slightly off the topic of the thread, but other places you might want to try for Sushi are Blue Ribbon Sushi and Omen for their Sashimi - both in Soho. There is a place in the village, can't remember the name, but it's on Thompson I think, that is really, really popular with lines going down the street to get in, but I have been disappointed everytime I have been there.

Also, not a sushi place, but the original Blue Ribbon (down the street from Blue Ribbon Sushi, has great food and is also a great late night spot as they serve until 4 am I think.

Nigel

[/ QUOTE ]

Tomoe is probably the other place you're thinking of. I've been to Blue Ribbon Sushi a lot. It's good, but damn expensive if I recall. I'll check out this Omen place.

[/ QUOTE ]

Omen is more expensive than Blue Ribbon, thats where the fashion industry big wigs all go for dinner.

TT /images/graemlins/club.gif

[Ulysses]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I like Sushi Samba a lot, so W 4th is good. I think around there or around Union Square are prob the places. Maybe Tribeca.

[/ QUOTE ]

Slightly off the topic of the thread, but other places you might want to try for Sushi are Blue Ribbon Sushi and Omen for their Sashimi - both in Soho. There is a place in the village, can't remember the name, but it's on Thompson I think, that is really, really popular with lines going down the street to get in, but I have been disappointed everytime I have been there.

Also, not a sushi place, but the original Blue Ribbon (down the street from Blue Ribbon Sushi, has great food and is also a great late night spot as they serve until 4 am I think.

Nigel

[/ QUOTE ]

Tomoe is probably the other place you're thinking of. I've been to Blue Ribbon Sushi a lot. It's good, but damn expensive if I recall. I'll check out this Omen place.

[/ QUOTE ]

Omen is more expensive than Blue Ribbon, thats where the fashion industry big wigs all go for dinner.

TT /images/graemlins/club.gif

[/ QUOTE ]

F that then, I'll just save my money for Masa. Oh wait, I forgot, IndieFatty is taking me to Masa!

[Stellastarr]

I cant imagine paying 3k+ a month for an apartment. But then again, im poor.

[moondogg]

[ QUOTE ]
I cant imagine paying 3k+ a month for an apartment. But then again, im poor.

[/ QUOTE ]

So are most people that pay 3k a month for an apartment.

[Paluka]

Are all the "I can't imagine paying 3k a month blah blah blah" posts really necessary. Welcome to the real world.

[HoldEm_Hero]

Sumo Sushi on 8th between `14th and 15th has some great sushi. Also the plum wine is great.

[jackdaniels]

[ QUOTE ]
[ QUOTE ]
I cant imagine paying 3k+ a month for an apartment. But then again, im poor.

[/ QUOTE ]

So are most people that pay 3k a month for an apartment.

[/ QUOTE ]

I didn't want to do a FYP (cause this is fairly accurate) but I will add to say that if they don't feel like they are poor now, they will very soon.

Unless you can SUSTAIN an income of over $100,000 (after tax dollars) for the next 25 years - there is very little reason to rent - even in NYC (former Brooklynite here - even though some of you city snobs may not consider that NY proper...).

I can't add much too this conversation except to say that if you are interested in increasing wealth, you should definitly BUY - not rent. If you can't afford top make the downpayment - but are able to pay 3k/month in rent - you have probably done something wrong (like pay a high rent for a long time) up to now.

Last but not least, one of the best ways to find a good rental in NYC is via bribery. Yes, I did say bribery - and the individual you want to bribe is the super. My parents paid the super the equivalent of 6 months rent in order to secure a rent controlled apt. - allowing them to live where they wanted to without paying the huge price that would inevitably come with the removal of rent control.

Once again, you are a big boy (and a good earner by the sounds of it) - so you know best whats good for you. But renting when you can buy (see mortgage rates - pretty much free money nowadays) - is a big waste of $$ and in direct contradiction to ones ability to build wealth.

GL in NYC man.

[Paluka]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I cant imagine paying 3k+ a month for an apartment. But then again, im poor.

[/ QUOTE ]

So are most people that pay 3k a month for an apartment.

[/ QUOTE ]

I didn't want to do a FYP (cause this is fairly accurate) but I will add to say that if they don't feel like they are poor now, they will very soon.

Unless you can SUSTAIN an income of over $100,000 (after tax dollars) for the next 25 years - there is very little reason to rent - even in NYC (former Brooklynite here - even though some of you city snobs may not consider that NY proper...).

I can't add much too this conversation except to say that if you are interested in increasing wealth, you should definitly BUY - not rent. If you can't afford top make the downpayment - but are able to pay 3k/month in rent - you have probably done something wrong (like pay a high rent for a long time) up to now.

Last but not least, one of the best ways to find a good rental in NYC is via bribery. Yes, I did say bribery - and the individual you want to bribe is the super. My parents paid the super the equivalent of 6 months rent in order to secure a rent controlled apt. - allowing them to live where they wanted to without paying the huge price that would inevitably come with the removal of rent control.

Once again, you are a big boy (and a good earner by the sounds of it) - so you know best whats good for you. But renting when you can buy (see mortgage rates - pretty much free money nowadays) - is a big waste of $$ and in direct contradiction to ones ability to build wealth.

GL in NYC man.

[/ QUOTE ]

I pay 3k a month in rent, I used to pay 4500. I'm sure I'll be poor real soon. I'm shaking in my boots. I want to know that if you think you are smart enough to lecture us, why the hell can't you manage to make 100k a year.

[slickpoppa]

[ QUOTE ]

Unless you can SUSTAIN an income of over $100,000 (after tax dollars) for the next 25 years - there is very little reason to rent

[/ QUOTE ]

Its not that hard to sustain an income over 100,000

And one thing that anti-renters always ignore is that the extra money that you don't spend up front in order to buy, you can invest elsewhere and make a profit on it.

[IndieMatty]

awesome

[sfer]

[ QUOTE ]
[ QUOTE ]
I cant imagine paying 3k+ a month for an apartment. But then again, im poor.

[/ QUOTE ]

So are most people that pay 3k a month for an apartment.

[/ QUOTE ]

No. Plenty of doorman buildings with apartments for less.

[sfer]

Pretty much all of the Blue Ribbon places are top notch.

[sfer]

[ QUOTE ]
[ QUOTE ]
I think expecting to pay under 3K for a one-bedroom in a doorman building is perfectly reasonable with only very few exceptions.

[/ QUOTE ]

Yes, but not a great doorman building.

TT /images/graemlins/club.gif

[/ QUOTE ]

Mine is.

[jackdaniels]

No need to get testy. I wasn't lecturing - simply stating fact. IF you can't sustain that kind of income long term (or think you may hit some dry spots along the way), it is a much better idea to buy. If you have the kind of job/proffession that allows you to make that $$ over the long term - feel free to keep renting (although I PERSONALLY still think that is a mistake).

My comment was striclty designed to show that TODAY, while mortgage rates are low, is a good time to buy if you are interested in BUILDING WEALTH. Part of this equation is having to spend a little less each month in order to save for a downpayment.

Again, this is my personal opinion only and everyone does whats best for them. It's just that paying so much for rent when you can buy (and use same $$ to pay off a mortgage) is not the best move from a financial standpoint.

Last but not least, I don't know how old ElD is and if he even plans on making NY his home for the forseeable future. It is quite possible that he enjoys the freedom of being able to move around and leave his place on a months notice; in which case buying is prolly not the best option. There may also be many, many other reasons why he (or you) preffers to rent. My point is that as a financial move - with no other considerations - owning >>> renting, especially when said rent is a sizable chunk of cash and money is as cheap as it's going to get (mortgage rates) for the forseeable future.

FWIW - I do make more than 100k/year. I DON'T spend 3k/month on my mortgage. And finally, I wish there was someone out there that gave me the same information I gave above 5-10 years ago. I may or may not have listened. It may or may not have been the right move for me at the time. But knowing what the other options are and how to best attain them would have been an invaluable lesson.

[BottlesOf]

I plan on buying as soon as I can. At what age do you think people typically buy their first place in Manhattan?

[B Dids]

Obviously Diablo, Paluka sfer are in different income brakets than most of OOT- that's pretty much apparent from the subject line an "I'll be selling my company". Given that that's basically an established premise of the thread, how much debate does it merit?

Should random 21 year old 2+2 idiot get a 3K a month apartment? Probably not, but we hardly needed 27 paragraphs to tell them that.

[Paluka]

Buying in NYC is basically gambling on real estate. The prices to buy compared to rent only make any sense if you price in a fairly optimistic appreciation rate.

[jackdaniels]

[ QUOTE ]
At what age do you think people typically buy their first place in Manhattan?

[/ QUOTE ]

I have no idea. Most of my family (that is still in NY) bought property outside of Manhattan. I have one cousin owning in the city, but he married a girl who already owned there.

The key here is to be prepared when the opportunity presents itself. You are ready when you have a downpayment - what age this becomes a reality is directly tied to your earnings minus savings/expenditures. Keeping your nut low (a good goal for a poker player anyway) will allow you to be ready when the right property/business/investment opportunity comes along. A poster above said something pretty smart in that not owning allows you to use your money towards other investments where your ROI may be higher than if you bought instead of rented. This may be true as well - but usually isn't for most people because of 2 reasons:

1. Real estate investment is fairly secure and stable.
2. Most people cannot beat the returns real estate has been posting over the past few years with other types of investing (there simply aren't many such opportunities out there).

GL when you are ready to buy, it is a difficult but very satisfying process.

[turnipmonster]

just save up enough for a >=20% down payment and don't worry about how old you are then. start looking a little in advance, because it takes a while (at least it took us almost 9 months to find our place). I'd tell you to get a good lawyer for closing, but you probably already have that taken care of /images/graemlins/smile.gif.

[sfer]

[ QUOTE ]
1. Real estate investment is fairly secure and stable.
2. Most people cannot beat the returns real estate has been posting over the past few years with other types of investing (there simply aren't many such opportunities out there).

[/ QUOTE ]

Hahahahahahaha. Consider that 2 violates 1.

[freekobe]

[ QUOTE ]
just save up enough for a >=20% down payment and don't worry about how old you are then. start looking a little in advance, because it takes a while (at least it took us almost 9 months to find our place). I'd tell you to get a good lawyer for closing, but you probably already have that taken care of /images/graemlins/smile.gif.

[/ QUOTE ]

Plus be prepared to a LOT more in the bank behind your down payment. If 20% was all you needed, a lot more people in NYC could buy a place.

People who automatically think buying is "better" than renting haven't done the math. The numbers aren't always there. Right now, buying is not better than renting in a lot of neighborhoods in NYC.

[BottlesOf]

[ QUOTE ]

Should random 21 year old 2+2 idiot get a 3K a month apartment?

[/ QUOTE ]

/images/graemlins/cool.gif

[edtost]

[ QUOTE ]
[ QUOTE ]
1. Real estate investment is fairly secure and stable.
2. Most people cannot beat the returns real estate has been posting over the past few years with other types of investing (there simply aren't many such opportunities out there).

[/ QUOTE ]

Hahahahahahaha. Consider that 2 violates 1.

[/ QUOTE ]

[censored] risk premium.

[turnipmonster]

[ QUOTE ]
Buying in NYC is basically gambling on real estate.

[/ QUOTE ]

but is it more of a gamble in nyc as opposed to other areas? I think real estate markets have been relatively constant in many neighborhoods for quite some time.

[ QUOTE ]
The prices to buy compared to rent only make any sense if you price in a fairly optimistic appreciation rate.

[/ QUOTE ]

my mortgage+maintenance pretty much equals the current going rental rate for my apartment. for most of the places we looked at, the mortgage would have been about the same as the rent, in some cases a little more. as long as this is case, isn't it clearly better to buy? am I missing something?

[Paluka]

[ QUOTE ]
[ QUOTE ]
Buying in NYC is basically gambling on real estate.

[/ QUOTE ]

but is it more of a gamble in nyc as opposed to other areas? I think real estate markets have been relatively constant in many neighborhoods for quite some time.


[/ QUOTE ]

I meant this in reference to the fact that the prices don't make sense compared to the rental costs unless you price in aggressive appreciation.

[turnipmonster]

[ QUOTE ]

Plus be prepared to a LOT more in the bank behind your down payment. If 20% was all you needed

[/ QUOTE ]

?? I know several people, myself included, who have put 20% down and bought a place in nyc. why did I need more than that again?

[jackdaniels]

[ QUOTE ]
Buying in NYC is basically gambling on real estate. The prices to buy compared to rent only make any sense if you price in a fairly optimistic appreciation rate.

[/ QUOTE ]

It is interesting that you say an appreciation in price is important when buying in the city. I figure that any appreciation would make it better than renting and the only concern I would have would be a real estate bubble burst. As for Manhattan, well the city is fairly unique in that it is limited. There is no where to expand without going over a bridge or through a tunnel. This is why real estate prices in the city are not likely to scale back (barring a terrorist attack that scares people away from any place that dense - which didn't work the first time and prolly wouldn't if it happened again).

It is similar to the "captive audience" approach movie theatres have when they sell you popcorn. They know they can charge you more because you have no choice but to buy it from them. Since Manhattan is and (I am willing to wager) for the rest of my life will be a place where there is a captive audience, I see no reason for the price of real estate to fall.

You can find similar economic models for real estate on University campuses (where students are replenished yearly and people who go there must BE there). Prices rarely fall for on campus real estate and if they do it is temporary.

[ceczar]

[ QUOTE ]
My comment was striclty designed to show that TODAY, while mortgage rates are low, is a good time to buy if you are interested in BUILDING WEALTH. Part of this equation is having to spend a little less each month in order to save for a downpayment.

[/ QUOTE ]

the best reason to buy is for the tax deduction on mortgage interest. there are times when, compared with buying, renting is relatively cheap and times when renting is relatively expensive, based on supply/demand, random fluxuations in the real estate market, etc. i have no idea if renting is historically cheap or expensive in the current NYC market. but it is certainly not the case the renting is automatically worse from a financial standpoint.

mortgage rates are still historically very low, but prices are historically high. as rates go up, monthly mortgage payments for a given loan amount will go up, which actually should put downward pressure on home prices. by taking a big mortgage you are making a very large leveraged bet on the NYC housing market, and it may or may not be a good time to make that bet.

you are totally discounting the very important concept of opportunity cost, and the down payment can be instead invested in something else, which may be a more prudent financial decision, and is probably less risky. again the only real advantage to buying a house when compared to other investments is the tax advantage.

[sfer]

[ QUOTE ]
As for Manhattan, well the city is fairly unique in that it is limited. There is no where to expand without going over a bridge or through a tunnel.

[/ QUOTE ]

Huh? There dozens of large residential buildings that went up in the last 3 years.

[slickpoppa]

[ QUOTE ]

It is similar to the "captive audience" approach movie theatres have when they sell you popcorn. They know they can charge you more because you have no choice but to buy it from them. Since Manhattan is and (I am willing to wager) for the rest of my life will be a place where there is a captive audience, I see no reason for the price of real estate to fall.

[/ QUOTE ]

But all of this is obvious to everyone else, so the current price of real estate should take all of that into account. If it is so obvious that prices will rise in the future, then people will start paying higher prices now, thus limiting your rate of return.

Also, no one is saying that the price of real estate is necessarily going to fall. You get the worst of it by investing in real estate if prices rise less than the interest rate.

[Voltron87]

[ QUOTE ]
[ QUOTE ]
As for Manhattan, well the city is fairly unique in that it is limited. There is no where to expand without going over a bridge or through a tunnel.

[/ QUOTE ]

Huh? There dozens of large residential buildings that went up in the last 3 years.

[/ QUOTE ]

his point still stands. manhattan is not getting bigger.

[jackdaniels]

I did mention the opportunity cost of putting that down payment on a house may make it a bad investment for some (another poster before me spoke about this). I simply qualified it with the fact that it is a fairly safe investment (compared to many others) and that most people don't have the knowledge to invest in anything better. Clearly, if you are market savvy, own a business that can use a cash infusion or are a successful poker player looking to move up in stakes, taking that money and sinking it into a home may not be the best idea. If none of the above (or similar) applies to you, an investment in real estate is a pretty rewarding route to take.

BTW the tax benefits are another EXCELLENT reason to do this (I currently live in Canada and had to do some maneuvering in order to deduct my mortgage interest off my taxes as the law here does not allow for a deduction on your primary residences interest - it IS possible if any Canadians want to know how, PM me - P.S. This is nothing illeagal). This is a very good point.

[Paluka]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
As for Manhattan, well the city is fairly unique in that it is limited. There is no where to expand without going over a bridge or through a tunnel.

[/ QUOTE ]

Huh? There dozens of large residential buildings that went up in the last 3 years.

[/ QUOTE ]

his point still stands. manhattan is not getting bigger.

[/ QUOTE ]

Not true. When they tear down a small building and put up a high rise apartment building, Manhattan does effectively get bigger. NYC is 3 dimensional.

[sfer]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
As for Manhattan, well the city is fairly unique in that it is limited. There is no where to expand without going over a bridge or through a tunnel.

[/ QUOTE ]

Huh? There dozens of large residential buildings that went up in the last 3 years.

[/ QUOTE ]

his point still stands. manhattan is not getting bigger.

[/ QUOTE ]

No his point does not stand. Reread it. He's saying that since Manhattan is fixed in area there is a finite amount of usable space. Not true. Anyone with half a brain can see that by looking up.

[citanul]

in addition to looking up, there's no reason to believe that nyc will not expand into water area in the future, as japan does, as other countries have done, and as i believe manhattan has already done at least once, building a park by just basically putting a big pile of garbage next to the island, then paving it over.

citanul

[Voltron87]

ok, yes, it is expanding, but marginally. i'd be interested in finding what % increase there was in housing last year, i dont know.

the point of whoever brought this up is that housing in manhattan is a relatively finite quantity, and it holds value very well. theyre right, and one of the reasons is because it is very hard to build more housing and it does not have much effect. there are also people willing to move into these new buildings, which is why they are being built, which supports that point that housing holds value.

[freekobe]

[ QUOTE ]
[ QUOTE ]

Plus be prepared to a LOT more in the bank behind your down payment. If 20% was all you needed

[/ QUOTE ]

?? I know several people, myself included, who have put 20% down and bought a place in nyc. why did I need more than that again?

[/ QUOTE ]

Because many buildings require x $ in assets beyond the down payment. By way of example, if you wanted to buy a $1 million apartment on Park Avenue, you couldn't show up with $200,000 and expect to be able to buy it.

They want to make sure you can pay your mortgage if you lose your job or if you don't keep the same income you had when you filed your application to buy.

[Paluka]

This thread blows. I'm tired of people who believe that these 2 thing are always true:

a) paying $3k+ a month for rent is stupid.
b) buying is always better than renting.

I feel like I'm arguing about religion.

[Duke]

[ QUOTE ]
[ QUOTE ]

It is similar to the "captive audience" approach movie theatres have when they sell you popcorn. They know they can charge you more because you have no choice but to buy it from them. Since Manhattan is and (I am willing to wager) for the rest of my life will be a place where there is a captive audience, I see no reason for the price of real estate to fall.

[/ QUOTE ]

But all of this is obvious to everyone else, so the current price of real estate should take all of that into account. If it is so obvious that prices will rise in the future, then people will start paying higher prices now, thus limiting your rate of return.

Also, no one is saying that the price of real estate is necessarily going to fall. You get the worst of it by investing in real estate if prices rise less than the interest rate.

[/ QUOTE ]

This is why it would cost my girlfriend $600k to buy her 850 square foot 1 bedroom. This is why she's continuing to rent.

~D

[BottlesOf]

http://www.saintstupid.com/fcllpics/ss2004/basetree/18-Aqua_Man.jpg

[citanul]

it's almost like people don't understand that along with having higher rents, there's many high paying jobs in nyc... or well, just that it is possible that there exist people to whom 3k a month is a rather marginal amount of money in relation to how much they either enjoy living where they want to live or the amount they enjoy living well.

[sfer]

[ QUOTE ]
in addition to looking up, there's no reason to believe that nyc will not expand into water area in the future, as japan does, as other countries have done, and as i believe manhattan has already done at least once, building a park by just basically putting a big pile of garbage next to the island, then paving it over.

citanul

[/ QUOTE ]

Yeah, the WTC site was landfill I believe.

[Voltron87]

[ QUOTE ]
This thread blows. I'm tired of people who believe that these 2 thing are always true:

a) paying $3k+ a month for rent is stupid.
b) buying is always better than renting.

I feel like I'm arguing about religion.

[/ QUOTE ]

fair enough. i dont disagree with you. i was just objecting to sfer's particular comment.

[sfer]

[ QUOTE ]
ok, yes, it is expanding, but marginally. i'd be interested in finding what % increase there was in housing last year, i dont know.

the point of whoever brought this up is that housing in manhattan is a relatively finite quantity, and it holds value very well. theyre right, and one of the reasons is because it is very hard to build more housing and it does not have much effect. there are also people willing to move into these new buildings, which is why they are being built, which supports that point that housing holds value.

[/ QUOTE ]

The expansion will always be marginal compared to the existing housing stock because there is already a ton of residential space in NYC. Duh. The notion that the amount of real estate here is fixed is retarded. Just look at a standard luxury high-rise. It's less than 30 years old. Did they start paving over cow pasture in 1970?

[jackdaniels]

[ QUOTE ]
This thread blows. I'm tired of people who believe that these 2 thing are always true:

a) paying $3k+ a month for rent is stupid.
b) buying is always better than renting.

I feel like I'm arguing about religion.

[/ QUOTE ]

You are correct. There is no reason to argue about this stuff as what is good for one person isn't always what is good for another.
It is, however, always good to know what other options are available.

Let's give this thread back to ElD and his search for a place in NYC - we've done enough hijaking already.

[Ulysses]

[ QUOTE ]
Unless you can SUSTAIN an income of over $100,000

[/ QUOTE ]

$100k? Are you joking?

[Shajen]

Diablo, you are a venture capitalist, correct?

Are you planning on staying in this field or are you expanding your horizons?

I agree, 100k in NY is like 60K in most other cities.

[mosta]

greg got a place on 3rd st between b and c that looks sweet. $2,500. I'll see it in a week.

[hotsauce615]

[ QUOTE ]
For 3k/month, I hope you're buying.

Yeah the city is cool but I'd buy in Cobble Hill or the Slope right now. These places will not decrease in value.

As far as convenience, you're as close to your bars & restaurants in Brooklyn or some places in Queens as you are in the city. It takes me 25 minutes to get most places north of 21 and and only a little longer to get further. In my experience you'll spend that at least that long in transit from withing manhattan.

Plus it's nice in the boroughs, and it usually doesn't smell like garbage.

But for 3k, you can probably be very choosy about where you end up. That's a lot to pay, even in NYC (possibly not for a high-rolling 2+2'er).

bk

[/ QUOTE ]

This mans right, and buy instead of rent.

[jackdaniels]

[ QUOTE ]
[ QUOTE ]
Unless you can SUSTAIN an income of over $100,000

[/ QUOTE ]

$100k? Are you joking?

[/ QUOTE ]

It also says "after tax dollars" there.

[Paluka]

[ QUOTE ]
[ QUOTE ]
For 3k/month, I hope you're buying.

Yeah the city is cool but I'd buy in Cobble Hill or the Slope right now. These places will not decrease in value.

As far as convenience, you're as close to your bars & restaurants in Brooklyn or some places in Queens as you are in the city. It takes me 25 minutes to get most places north of 21 and and only a little longer to get further. In my experience you'll spend that at least that long in transit from withing manhattan.

Plus it's nice in the boroughs, and it usually doesn't smell like garbage.

But for 3k, you can probably be very choosy about where you end up. That's a lot to pay, even in NYC (possibly not for a high-rolling 2+2'er).

bk

[/ QUOTE ]

This mans right, and buy instead of rent.

[/ QUOTE ]

Okay, Mr. and Mr. Buy An Apartment. Let me ask you this. If my rent is going to be $3000, and I instead decide to buy, what price range should the apartment I'm buying be in>

[Ulysses]

[ QUOTE ]
Diablo, you are a venture capitalist, correct?

[/ QUOTE ]

No. I have done some investing and work w/ VCs, but I'm a software business guy mainly, which is probably what I'll do in the near/mid-term. VC is another possibility, though.

[Ulysses]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Unless you can SUSTAIN an income of over $100,000

[/ QUOTE ]

$100k? Are you joking?

[/ QUOTE ]

It also says "after tax dollars" there.

[/ QUOTE ]

Fine. My bigger point was that there are tons of people in NYC to whom 200k/yr is not much to make at all.

[ISF]

I would tend to look in gramercy, the union square area. Its close to tons of stuff, but also a bit more residential then the village of soho. A few friends pay right about 3k for nice doorman elivator buildings in that area.

[Ed Miller]

[ QUOTE ]
[ QUOTE ]
Buying in NYC is basically gambling on real estate. The prices to buy compared to rent only make any sense if you price in a fairly optimistic appreciation rate.

[/ QUOTE ]

It is interesting that you say an appreciation in price is important when buying in the city. I figure that any appreciation would make it better than renting and the only concern I would have would be a real estate bubble burst.

[/ QUOTE ]

Your premise that any appreciation at all is better than renting is wrong in countless ways.

[arod15]

You could get a place for that not a great one though. There are a ton of rooms you could play in. Def go to the city great games great city great everything.......east side small apt for 3k. but def 1 bd sojo possible

[arod15]

I live in NY and will make close to 100K this year you know that is [censored] here. it means nothing. 200K is ok thought thats like lower wealthy in NYC. Its 1400 a month rent for a 1 bedroom convertable with no elevator no AC yeah its that expensive

[arod15]

Sojo is good if your wanna work downtown. Thats where i work its a nice area. But i think midtown is much more fun if you dont mind the commute think bars and midtwon clubs everything i think midtown is where is at. 48 eastside......

[moondogg]

Your posts are almost completely unreadable.

[sfer]

[ QUOTE ]
Sojo is good if your wanna work downtown. Thats where i work its a nice area. But i think midtown is much more fun if you dont mind the commute think bars and midtwon clubs everything i think midtown is where is at. 48 eastside......

[/ QUOTE ]

In case there was any doubt that I don't have to read any more of your posts...

Didn't Sojo play for the Yankees?