The "All Things NYC" Thread

[patnyrnyg]

How did you or anyone else make the move?

Could I find an apartment almost immediately?.. spending 1,500-2,000 per month. Or am I out to lunch.

I'm pretty confident I could land a job fairly quickly. I have a BS from a respectable University and some experience in management. Any type of entry level job that pays enough to keep up with rent and the cost of living is more than fine with me for the time being though. Just really want to get situated knowing that I could make the move and not end up flying back home broke 4 months later.

An entry-level job that can pay rent in Manhattan? be prepared to either starve or live with roommates.

 

[Don Chytil]

An entry-level job that can pay rent in Manhattan? be prepared to either starve or live with roommates.

Lol please do not listen to this guy.

I moved to NYC directly out of college, had a BS from a respectable university just like yourself. Found a job within 3 months, lived in Crown Heights (not the best area, but an up and coming part of Brooklyn) for the first year while on entry level salary. Moved up the ladder and was able to land myself a nice apartment in Astoria, Queens within a year. Very close to Manhattan, only a 15 minute subway ride away. Both places were within the monthly range you suggested in your post.

Never had to starve, in fact I eat pretty damned well (comes with living in NYC ). Only had one roommate but they're pretty easy to find here.

On finding an apartment immediately - I've found it pretty easy to find a place both times I've moved into an NYC apartment. You'll need proof of a salary 40 times rent (aka $70,000 if the apartment is $1,750 per month). If you can't prove that, you'll need a guarantor to sign the lease as well. You'll also need good credit, so a guarantor could be helpful in that situation as well if you haven't established credit yet.

Good luck

 

[silkyjohnson50]

My credit score falls in the very good-excellent range, but I definitely won't have 40 times the rent in my savings; or quite frankly, anywhere close to that. How does the guarantor work? I'm assuming a parent could sign, but would they really have to make the trip to NYC as well just to sign or could they do it via fax, email, Internet?

Is it possible to go solo without a roommate? I'm a bit of a loner on the homestead. I get annoyed living with friends let alone strangers. Or is really that hard to keep up? Keep in mind that I'm not really the type of person who has to spend a lot to have fun. Obviously you're going to spend in NY no matter what you do, but I'm fairly smart with my money (obviously this move would be a pretty big risk though lol - but I really want to give it a go and not regret that I didn't give it a shot.)

Also, I've been looking at job postings for the area and even a lot of the entry level jobs seem to pay quite a bit more than they do around where I'm from. So if I can get a job making 2x my annual rent, I don't really see a financial burden.

Like I said this is all new to me though so I'm really trying to learn as much as a can before making the jump.

Thanks for all the input.

 

[Don Chytil]

My credit score falls in the very good-excellent range, but I definitely won't have 40 times the rent in my savings; or quite frankly, anywhere close to that. How does the guarantor work? I'm assuming a parent could sign, but would they really have to make the trip to NYC as well just to sign or could they do it via fax, email, Internet?

Is it possible to go solo without a roommate? I'm a bit of a loner on the homestead. I get annoyed living with friends let alone strangers. Or is really that hard to keep up? Keep in mind that I'm not really the type of person who has to spend a lot to have fun. Obviously you're going to spend in NY no matter what you do, but I'm fairly smart with my money (obviously this move would be a pretty big risk though lol - but I really want to give it a go and not regret that I didn't give it a shot.)

Also, I've been looking at job postings for the area and even a lot of the entry level jobs seem to pay quite a bit more than they do around where I'm from. So if I can get a job making 2x my annual rent, I don't really see a financial burden.

Like I said this is all new to me though so I'm really trying to learn as much as a can before making the jump.

Thanks for all the input.

Not 40x the monthly rent in savings, just evidence that you make 40x the rent in salary per year. I think I just gave them a few recent paystubs.

If you don't have proof of making that much, your guarantor could probably e-mail copies of their paystubs (as long as they make 40 times rent per year). Having them sign the lease via e-mailed copy or fax should not be a big deal, but remember that whoever it is (in this case a parent) would be liable for full rent should you not be able to make payments.

I'd say it would be very hard to go without a roomate - but not impossible. If you are making $50k say, you'd get somewhere around $2,600 take home a month. You can find a nice 1 bedroom for about $1,800 in the outer boroughs, and closer to $1,600 if you are willing to move a bit further out in Queens or Brooklyn. After utilities and a monthly subway card you'd only have about 500-600 a month left for any other expenses. If you also have to make student loan payments (I pay about $500 a month at least), it's tough. If not, you could probably do it. Would definitely be cheaper with a roommate, though.

 

[silkyjohnson50]

Alright. Yeah, I'd have to get a guarantor then because I doubt I'd be able to land a job before even moving there, so I'd want to move in and then immediately start the job search. Fortunately I have no loans to pay off, so that would definitely make it a bit easier as far as attempting to live solo. How much do the monthly subway cards run btw? I noticed it was like what, $2-3 every use. So my main expense after everything would be food for the first few months as I settled in.

Thanks again for all the info.

 

[Don Chytil]

Alright. Yeah, I'd have to get a guarantor then because I doubt I'd be able to land a job before even moving there, so I'd want to move in and then immediately start the job search. Fortunately I have no loans to pay off, so that would definitely make it a bit easier as far as attempting to live solo. How much do the monthly subway cards run btw? I noticed it was like what, $2-3 every use. So my main expense after everything would be food for the first few months as I settled in.

Thanks again for all the info.

No problem, glad to help. Feel free to PM me if you have any other questions. Monthly Metrocards are $113 I believe, gets you on any subway line and all city buses as well.

 

[SingnBluesOnBroadway]

Lol please do not listen to this guy.

He said "An entry-level job that can pay rent in Manhattan? be prepared to either starve or live with roommates."

And you replied that lived in Brooklyn and Queens. So where was/is he off?

 

[silkyjohnson50]

He said "An entry-level job that can pay rent in Manhattan? be prepared to either starve or live with roommates."

And you replied that lived in Brooklyn and Queens. So where was/is he off?

There are small places in Manhattan for slightly less than $2000 though, right? I've accepted the likelihood that the place would be very small, but by myself I'm fine with that. Especially while initially making the move. Honestly I'm just looking I get my foot in the door so to speak, knowing that I could actually do it.

 

[broadwayblue]

There are small places in Manhattan for slightly less than $2000 though, right? I've accepted the likelihood that the place would be very small, but by myself I'm fine with that. Especially while initially making the move. Honestly I'm just looking I get my foot in the door so to speak, knowing that I could actually do it.

Yes, there are quite a few small apartments in walkup buildings that can be had for under 2k. If you don't mind the stairs, or perhaps having your shower in your kitchen, you should be able to find one.

 

[highandwide]

yes, there are quite a few small apartments in walkup buildings that can be had for under 2k. If you don't mind the stairs, or perhaps having your shower in your kitchen, you should be able to find one.

not speaking from experience but thought i'd throw this out there..

I have a bunch of friends that live on the upper east side (87 st and above/3ave-yorkave) and have more affordable rents than the rest of manhattan. I think its mainly due to the 4-5-6 trains sucking/crowding and it's the only transportation up there. Less desirable.

Depending on what you're planning on spending, might want to check out queens/brooklyn, even hoboken. I have friends that have steals, i have friends that live in the hood for convenience, just depends what you're willing to spend and if youre willing to live with someone or want to live alone.

 

[Don Chytil]

He said "An entry-level job that can pay rent in Manhattan? be prepared to either starve or live with roommates."

And you replied that lived in Brooklyn and Queens. So where was/is he off?

Well the original question never specified Manhattan, so I thought that response was kind of narrow sighted. I also think that responding to someone's question so dismissively as if to say "Pft, good luck" is pretty condescending.

Not to mention that his response was, in fact, wrong. Plenty of entry level jobs can pay rent in Manhattan - mine could have, but I chose to live in Brooklyn and Queens to put some money into savings and pay off my loans.

 

[patnyrnyg]

What entry-level jobs are paying $70K (the number you mentioned to get an apartment for $1750 per month)?

 

[GordonGecko]

What entry-level jobs are paying $70K (the number you mentioned to get an apartment for $1750 per month)?

depending on the firm & education some entry level lawyers will start off at $150-$175K. Some entry level IT jobs will start right around 70K

 

[Don Chytil]

What entry-level jobs are paying $70K (the number you mentioned to get an apartment for $1750 per month)?

Well you only need to show proof that you and/or your guarantor make that much. Let's say you only make $55K at your entry level job (using something more reasonable, although there is much truth to GG's post above), if your guarantor can prove that they make at least $15K per year you would still be able to rent an apartment for $1,750.

So $55K at your entry level job, let's take out $20K for taxes. $35K take home on the year. Your studio apartment after utilities costs $2,100 (again exaggerating, using high utility costs). You've still got $9,800 per year leftover, or $816 per month. Not much in NYC, but that's why I suggested a roommate to the inquiring poster.

So I've just demonstrated that all of this is very possible at a $55K starting salary. Not to mention that in the right field, you can start out at much more than that, especially in NYC.

 

[RUSF18]

You can definitely get a decent studio on the Upper East Side for under $2k. A couple years ago, you could get one for $1500, especially if you were okay with walkups and being east of 1st.

 

[broadwayblue]

Well you only need to show proof that you and/or your guarantor make that much. Let's say you only make $55K at your entry level job (using something more reasonable, although there is much truth to GG's post above), if your guarantor can prove that they make at least $15K per year you would still be able to rent an apartment for $1,750.

So $55K at your entry level job, let's take out $20K for taxes. $35K take home on the year. Your studio apartment after utilities costs $2,100 (again exaggerating, using high utility costs). You've still got $9,800 per year leftover, or $816 per month. Not much in NYC, but that's why I suggested a roommate to the inquiring poster.

So I've just demonstrated that all of this is very possible at a $55K starting salary. Not to mention that in the right field, you can start out at much more than that, especially in NYC.

Not exactly. If you are using a guarantor the income requirement typically rises to 80x the rent.

 

[patnyrnyg]

depending on the firm & education some entry level lawyers will start off at $150-$175K. Some entry level IT jobs will start right around 70K

He said he has a BS from a "respectable" university, didn't say he had a law degree from a top law school. Secondly, even recent law school grads are having trouble finding jobs. SOME IT jobs pay that much, but they are not exactly easy to find. Thirdly, he said he has experience in management, but would take entry-level. That right there raises a red-flag for many HR people as he may be over-qualified. I know it sounds dumb, but many are reluctant to hire people who they deem over-qualified.

My advice to silky would be the same I gave my brother when he graduated law school. He was offered a job about an hour southwest of Albany. I told him not to take it unless it was THEE job he wanted as there is a good chance he would be stuck there for a little while. Might have to sign a lease, buy furniture, etc. And, may not have other opportunities in that area. If after a few months, he hates the job, might not be as easy to find a new one in that area. He didn't take the job, a month later landed a job on LI. Wasn't happy there, but stuck it out and got hired by the Brooklyn DA's office. Worked there for a few years, and is now a lawyer for the NYC DOE.

If you are going to move here, silky, get a job FIRST, unless you have enough in savings to pay rent and survive for a year. Not that it would take you a year to find a job if you moved here first, but you want that safety net.

Secondly, be VERY careful with real estate agents. My friend was moving from Woodbridge to Manhattan when he started his MBA at Columbia. Found a nice apartment not far from Columbia. Around 110th on the West Side. Went to sign the lease and the lease read, "July 1st 2000 to June 30th, 2000". Obviously he didn't sign it and asked that it be corrected. Received a call the next day that the apartment was no longer available. A month later, the same apartment was being advertised.

 

[broadwayblue]

He said he has a BS from a "respectable" university, didn't say he had a law degree from a top law school. Secondly, even recent law school grads are having trouble finding jobs. SOME IT jobs pay that much, but they are not exactly easy to find.

Yeah, for every first year lawyer earning 150-175k there are 9 recent college graduates earning 50-70k.

 

[broadwayblue]

You can definitely get a decent studio on the Upper East Side for under $2k. A couple years ago, you could get one for $1500, especially if you were okay with walkups and being east of 1st.

The going rate for a very nice studio in the building where I live is about $1,850. No doorman, but elevator and on-site laundry. Great location near 86th/Lex.

 

[silverfish]

I work in the city every day, commuting from Long Island (lol kill me, please). The prospect of having to spend a paycheck and then some on rent per month is astounding.

**** this city.

 

[OverTheCap]

How did you or anyone else make the move?

Could I find an apartment almost immediately?.. spending 1,500-2,000 per month. Or am I out to lunch.

I'm pretty confident I could land a job fairly quickly. I have a BS from a respectable University and some experience in management. Any type of entry level job that pays enough to keep up with rent and the cost of living is more than fine with me for the time being though. Just really want to get situated knowing that I could make the move and not end up flying back home broke 4 months later.

Finding a job may be just as difficult as finding an apartment, or even moreso. I know plenty of recent college graduates from good universities (Tulane, Syracuse, etc.) that are struggling to find entry level jobs in the city right now. I would advise that you try to secure employment first (unless your parents can help you out financially for a few months) and then concentrate your efforts on finding an apartment.

 

[OverTheCap]

He said he has a BS from a "respectable" university, didn't say he had a law degree from a top law school. Secondly, even recent law school grads are having trouble finding jobs. SOME IT jobs pay that much, but they are not exactly easy to find.

Yup, the legal economy is still pretty bad. Many recent law school grads end up working in some field other than law because the jobs just aren't there. And I know some experienced attorneys as well that are struggling to find full-time employment.

I work in the city every day, commuting from Long Island (lol kill me, please). The prospect of having to spend a paycheck and then some on rent per month is astounding.

**** this city.

You must be loving the LIRR

 

[broadwayblue]

I work in the city every day, commuting from Long Island (lol kill me, please). The prospect of having to spend a paycheck and then some on rent per month is astounding.

**** this city.

So on the one hand you want to die from the commute, but on the other hand you find the cost of living in NYC astounding. Hard to have your cake and eat it as they say. But yeah, I get you, prices are insane.

 

[Don Chytil]

Finding a job may be just as difficult as finding an apartment, or even moreso. I know plenty of recent college graduates from good universities (Tulane, Syracuse, etc.) that are struggling to find entry level jobs in the city right now. I would advise that you try to secure employment first (unless your parents can help you out financially for a few months) and then concentrate your efforts on finding an apartment.

This is good advice. It's tough, but not impossible. Took me three months of constant applying/interviewing.

Not exactly. If you are using a guarantor the income requirement typically rises to 80x the rent.

I'm in the process of renting out my place now as I'm leaving the city for 6 months, and my building requires 50x rent with a guarantor. I'm sure it varies, though.

 

[broadwayblue]

I'm in the process of renting out my place now as I'm leaving the city for 6 months, and my building requires 50x rent with a guarantor. I'm sure it varies, though.

Yeah, it definitely varies. 50x is quite reasonable with a guarantor.