Depends on your life style. He doesn't need a car, although he may want one. Not all apartments are 3,000-5,000 per month. That depends on how close he wants to be to MSG. If you're talking about walking distance than he's going to have to pay a higher price. If he's not going out for sushi every night than his $700,000'ish (roughly 33% - which will give him money back at the end of the year.) after taxes is more than enough to live in the city. People do it on 100k salary before taxes are taken out, so I don't see why he can't live a richer life style than them. He'll have to take money out to pay his agent and whatever benefits they have, but he's got plenty to live in the city.
Plus, he may be rooming with somebody on the team.