Saturday, April 26, 2008
Finding Your First Apartment in New York City
New York Times: "Spring is the season when newly minted college graduates flock to New York City to start their careers. They begin the search for their dream apartment, brokers say, with the same single-minded determination that earned them their degrees and landed them their jobs in the first place."
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10 comments:
Housing in NY is insane. The funny thing is that when i went out of new york and people talk about what they pay for rent I was always floored by how low it is. Of course then one day someone actually talked with me about it and now it makes sense. the crazy part is how awful some of the expensive apartments are, and the locations make them so costly.
I'd love to live in the rafters of a theatre like in Home Alone II. What I don't want is to have to commute to and from Queens every day. The 40 times your monthly rent thing was a new one for me. Guess I'll move to Vegas. Ps: The word verification is exceptionally hard to figure out today.
It just seems impossible to get an apartment in New York. People say if you would be lucky if you have 2 out of 3 most important key factors in your life: job, boyfriend and apartment. I think if you have one, another one just would automatically follow along. Ps. the word verification is just insane. there's no way i can guess what it says.
What is also shocking is how black and white the real estate market seems to be. I've learned in Pittsburgh that you can find a dump and a gem for the same amount of money, but in New York it seems that what you can pay has a very specific type of apartment attached.
I like that this article responds to the unrealistc expectations of new buyers and the cluelessness of students with ideas on how to manage finding an apartment and solutions being suggested by universities. I feel that this kind of "lecture" would be a really useful thing to get as a senior, when everyone is about to go off and do this, and not just in the New York market. While I understand that this is one of those things you kind of just have to do, like learning how to file a tax return, I don't see anything wrong with the wise elders passing on some tips about apartment huntng. I think this is especially important for parents to talk to their kids about before it becomes a crisis, even though they may not have dealt with this recently.
I don't understand why people live in Manhattan. It's way too expensive, and chances are if you work there, there's a borough that has cheaper housing closeby. Given that the subway is pretty reliable, I really don't see the point.
What they fail to mention in the article is that if you have an apartment in NYC, you probably don't have a car, so a lot of expenses you would incur in gas (!!), purchasing, and maintenance aren't incurred.
If I end up working in NYC again, I'll be living in either Brooklyn or NJ. I like seeing trees occasionally.
I can't fathom the concept of spending so much money just to be easily located in an area that's both active and stressful. It all revolves around money and nothing else which is hard to deal with in my opinion. However, theatre artists are still not making a lot of distinctive efforts to bring theatre elsewhere in the country. I think they feel as if they are losing a sense of professionalism. In my eyes its just living realisticly.
this is reason number two as to why i wouldn't want to work in New York. i don't even want to imagine how stressful it is to find an apartment in the city. and it from what i have heard keeping it can be just as stressful. it seems to be a constant struggle to live in NYC, all piled on top of your other concerns such as work, food, etc.
When I lived in New York, I started by renting a room in Park Slope Brooklyn for $800. Then moved to a room in Spanish Harlem for $400, which I shared with 2 other people. Then moved to the East Village, where I rented a large sleep loft in a studio for $800. Apartments are ridiculous. But just like any other city, there are a few jems, you just need to know where to look(like Rebecca said, the boroughs are great and cheaper). A close friend has a one bedroom apartment on 125th and 5th from only $1250. Alot of graduates moving to the city are looking in the wrong places, like the Village, Chealsea, Upper East and West Sides. When really if they want to live in Manhattan, they should look at Spanish Harlem, Harlem, and the Heights (none of which are as dangerous as their reputation).
Its not terribly hard to get an apartment if you know some key factors ahead of time.
1. Look in spring/early summer instead of late summer. Less competition and more places are available.
2. Location. Dont think you need to live in the hottest spot on the market. These are the places recent grads should look at:
Astoria
Jackson Heights
Washington Heights
Harlem/Spanish Harlem
Greenpoint
Prospect Heights
Flatbush.
NOTE: living in Queens or Brooklyn and going to Manhattan is NOT considered Commuting. These neighborhoods give you more bang for the buck and most are less than an hour from midtown. (i.e. Astoria is 20 to 30 min).
3. Rent. Most places will want 3 months rent up front. That's first, last and a security deposit or broker fee. Be prepared to shell out CASH. Many places will want cash - this is normal and can't be avoided.
Know that... most places wont take an out of state check and that ATMs only spit out a limited amount each day.
Try and have a co-signer of sorts. Many places will be extra weary of Free-lancers with no stable income.
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These are only a few tips, but will help. If anyone wants more advice I suggest contacting NYDAC. Anyone there (including myself) will be more than happy to help.
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