Need Help for housing in NYC

[MetroStyles]

Originally Posted by Presto87

Ok sweet - so for future reference I know that I need to search for a 1Bed/1Bath Condo.

And in terms of New York - how does each borough rate in terms of property value, social lifestyle and security etc.?

Say for example - If I were to look for the above, at a max price of say $300,000 - is that feasible? If yes, what location is my best bet? Or, am I dreaming???

Let's put it this way - getting an apartment in NYC for $300,000 would not be like living in NYC at all, especially if you wanted a 1 bedroom. Especially not in Manhattan. Think of Manhattan as the only NYC you have ever seen on television, for the most part. If you want convenience, big buildings, packed streets, and glamour, it is the only borough for you. There is no way you can afford a decent 1 bedroom, or any one bedroom perhaps, for $300,000. Maybe if you want to Washington Heights, which I would not think you would be pleased with if you wanted to live in Manhattan.

Brooklyn is a somewhat distant second as far as boroughs go. However, it is a place I would consider buying in. For one thing, the areas of Brooklyn that border Manhattan are very nice, just with less skyscrapers. The people are hip (in fact the whole place is swarming with hipsters), and there is a good nightlife. Unfortunately, property values in these Brooklyn neighborhoods are ALSO going through the roof, and for good reason. Not sure you can get something decent there for $300,000 either. If you went a little further into Brooklyn I am sure it would be possible, but I'm not sure if you would be happy with your neighborhood.

Queens is third in line. You can get something for $300,000 in Queens, but again I am not sure of the quality or even location. If you are okay with a not-nice apartment in a decent location, you can probably squeeze by in LIC or Astoria for that price, two neighborhoods close to Manhattan.

The Bronx, not so hot. You probably do not want to live there. And Staten Island is really not even a borough, more like New Jersey. Kind of suburban feeling, with lots of annoying people. And you need to take a goddamn ferry to get there from Manhattan if you do not have a car.

Last resort could be something like Hoboken, which is close to NY, although situated in New Jersey. Not my cup of tea, but you could probably afford something decent for that price and you would still be at a reasonable distance from the city and in a very safe area.

If you want real answers, look for yourself here:

http://realestate.nytimes.com/sales/

Type in a neighborhood and a price and see what comes up. Things that look too good to be true usually are and have something wrong with the property.

 

[Connemara]

Pick up a nice house in Hackensack.

 

[Earthmover]

Originally Posted by Presto87

Well if you wanted Sydney City - then totally dreaming! But there's a suburb called Parramatta which about half an hour out from the city - known as the "city" of the western suburbs - and a 1Bed/1Bath (or if your lucky 2Bed) apartment can be had for about 350,000 ...

If you want a pseudo equivalent, you can live in Riverdale, where you can find a 1br/1ba for around that. It's just north of Manhattan, but technically still "NYC".

 

[Presto87]

Woah, cheers for ALL the info. MetroStyles appreciate it!

Yea I knew that $300,000 in Manhattan would be a long shot - but I'm only speaking hypothetically anyway. I'm only 20, and still living at home (in Sydney) - so actually moving to New York (if it ever happens) is atleast another couple of years away! But still good to get a rough idea of $$$ as well as location. From your post, I think I would consider Brooklyn or Hoboken (which I have never even heard of). What do you think of Earthmover's mention of Riverdale in comparison to these two?

 

[MetroStyles]

Originally Posted by Presto87

Woah, cheers for ALL the info. MetroStyles appreciate it!

Yea I knew that $300,000 in Manhattan would be a long shot - but I'm only speaking hypothetically anyway. I'm only 20, and still living at home (in Sydney) - so actually moving to New York (if it ever happens) is atleast another couple of years away! But still good to get a rough idea of $$$ as well as location. From your post, I think I would consider Brooklyn or Hoboken (which I have never even heard of). What do you think of Earthmover's mention of Riverdale in comparison to these two?

Don't know much about that. Basically, I like to use the "get laid at a bar" test. It goes like this. You meet a girl and now you need to take her home to your place in a taxi. Which locations will she be okay with, and which will she not? Hoboken - probably not, but maybe. Riverdale? No. Brooklyn - possibly. Brooklyn is good in this case because you can just go out in Brooklyn and you are still in NYC, as opposed to having to leave the city limits. It is also the most expensive of the three.

 

[Earthmover]

Originally Posted by Presto87

Woah, cheers for ALL the info. MetroStyles appreciate it!

Yea I knew that $300,000 in Manhattan would be a long shot - but I'm only speaking hypothetically anyway. I'm only 20, and still living at home (in Sydney) - so actually moving to New York (if it ever happens) is atleast another couple of years away! But still good to get a rough idea of $$$ as well as location. From your post, I think I would consider Brooklyn or Hoboken (which I have never even heard of). What do you think of Earthmover's mention of Riverdale in comparison to these two?

I should probably expand on Riverdale. It's not that I think the location is awesome -- perhaps in Australia, the word "suburbs" don't carry certain cultural undertones, but here, it's somewhat degenerated into a boring quiet family life-type deal. but as far as pricing goes, it's still an area that's fairly close to Manhattan, not a bad neighborhood (it has been a traditional suburb-like area for many years, and Horance Mann, a private school, is located there), yet you can still find decent to nice 1BRs for 300-350k. As a 27 year old, I would never live there if I was still doing the singles/bar scene. It's definitely a place you move because you want more trees, don't mind the quiet life and still be close to NYC (namely, work)

Brooklyn, given any decent non-dangerous neighborhood, is still going to be pretty expensive. I'm sure you can find 350k 1BRs in Brooklyn, but definitely not in Brooklyn Heights, and I think the amount of apartment you get for the money will keep on going down in other "fun" areas like Williamsburg and Park Slope. (Aside: If you're a new guy moving to the NYC area, I would definitely put Park Slope near the top. For some reason, all anectdotal evidence and personal observations suggest that there are a lot of single girls and young couples. This means that girls are peer-pressured to getting with dudes, who for some reason seem to be less in number than elsewhere in NYC.) Here's actually a recent NYTimes article on this exact subject: http://www.nytimes.com/2007/09/30/realestate/30cov.html

And I agree with Metrostyles on the "laid at a bar" test. The thing is, if you are at a bar in NYC, Brooklyn will be equally hard as Hoboken (perhaps an exception for East Village/Lower East Side to Williamsburgh) for bringing a girl back; there's something about crossing a river that makes things doubly hard. The good news with Hoboken/Brooklyn is that there will be enough girls in each of those neighborhoods that you won't necessarily need to go to NYC to get laid. Besides, just use their apartments if necessary.

 

[Ambulance Chaser]

May I suggest . . . Newark?

Newark's Revival: It's No Joke
Oft-Ridiculed Spot Is Northeast's Fastest-Growing Big City

By Anthony Faiola
Washington Post Staff Writer
Monday, December 31, 2007; Page A03

NEWARK -- "You're going to get killed!"

That -- along with a "you're crazy" and "nice knowing you" or two -- was the kind of half-joking response that Chris and Ade Sedita heard from their Manhattan friends when the couple announced their plans to move from glittering New York to, of all places, Newark.

But as the pair sipped wine and nibbled cheese during an exhibit opening at their new art gallery in central Newark, they insisted they were crazy like a fox.

"They just didn't get it," said Chris Sedita, 28. "Something is finally happening in Newark. This place is coming alive again."

Harper's Magazine once ranked it the worst place to live in America; Money Magazine called it the most dangerous. And then there are the jokes.

But Newark just may have the last laugh. The city America loves to humiliate is on the cusp of a renaissance -- one that is taking a town that has been synonymous with crime, drugs and inner-city blight and transforming it into the nation's least likely symbol of urban renewal.

Forty years after the 1967 race riots marked the unofficial start of its steep decline, Newark is now the fastest-growing big city in the Northeast. After shedding more than 100,000 people in four decades, its population jumped nearly 3 percent, to 281,402, from 2000 to 2006, according to new U.S. Census data. That growth beat Boston, the District and New York while outpacing some cities out West such as San Diego and Long Beach.

Rest of article linked for copyright reasons:
http://www.washingtonpost.com/wp-dyn...123002505.html

 

[SoCal2NYC]

Yah...I'm a slut and even I don't cross water for azz.

 

[imageWIS]

Originally Posted by SoCal2NYC

Yah...I'm a slut and even I don't cross water for azz.

Yes, but let's be relative: not everyone comes from your financial background and thus do not have the same purchase parity you have.

Jon.

 

[solipsist]

Originally Posted by Ambulance Chaser

May I suggest . . . Newark?

Newark's Revival: It's No Joke
Oft-Ridiculed Spot Is Northeast's Fastest-Growing Big City


It looks like Newark's Chamber of Commerce hired a PR team. I think Jersey City has more potential.

 

[samblau]

I know I bought into the hype re: NYC but seriously...will there ever be a backlash against manhattan...very few younger people can afford housing on their own let alone the ability to go out and enjoy many of NY's niceities, especially if they are still paying don student loans...people who can afford to live in Manhattan typically work very long hours thus it makes sense to live here...often times Manhattanites are too tired to go out on Friday nights....most of what I see is that younger people with gobs of and/or no conception of money live in places like the UES and Williamsburg trying to proclaim their independence by living in faux squalor rather than somewhere practical. Real students and young professionals could not possibly afford and would be smart enough not to pay $3k p/m in rent to live in a dingy walk-up. At least for my obscene rent I have a gorgeous new building convenient to work/courts/transportation/gym, all things that are important to me...of course we all have different priorities...I hang out by NYU/LES/UES etc. and it seems to be a bunch of phony BS hipsters knocking down $6 beers on daddys CC explaining how great NY is and how they are going to change the world. I am one of the very few native NYers in my social circle...I am boring as hell compared to most of my LES friends...I understand the appeal but not the financial ability, parents due a disservice to their children by providing such ridiculous lifestyles, my parents supported/helped me but I worked from 18 yrs old on and throughout my 7 years of school to afford what I have now...and even so, as a single guy, it is very hard to get by in NYC let alone save a couple of bukcs per month. When you make your final decision please bear future concerns in mind...also remember that the other boroughs (Queens/BK) offer many ammeneties and a more than viable social life as well as easy access to Manhattan 24 hrs a day...if you have a few friends and split the $25 cab ride its not so bad. Manhattan is expensive, noisy and of no use socially if you are (or should be) studying. Succeed in school and parlay that into whatever life you want. Treat Manhattan as a once-a-week night out at this stage.

 

[SoCal2NYC]

Originally Posted by imageWIS

Yes, but let's be relative: not everyone comes from your financial background and thus do not have the same purchase parity you have.

Jon.

Yah but even most of the time the "sensual massage" ads on Craigslist are very disproportionate with their in-call/out-call rates and taking the L a few stops into Brooklyn can save you $100.

 

[MetroStyles]

Originally Posted by samblau

I know I bought into the hype re: NYC but seriously...will there ever be a backlash against manhattan...very few younger people can afford housing on their own let alone the ability to go out and enjoy many of NY's niceities, especially if they are still paying don student loans...people who can afford to live in Manhattan typically work very long hours thus it makes sense to live here...often times Manhattanites are too tired to go out on Friday nights....most of what I see is that younger people with gobs of and/or no conception of money live in places like the UES and Williamsburg trying to proclaim their independence by living in faux squalor rather than somewhere practical. Real students and young professionals could not possibly afford and would be smart enough not to pay $3k p/m in rent to live in a dingy walk-up. At least for my obscene rent I have a gorgeous new building convenient to work/courts/transportation/gym, all things that are important to me...of course we all have different priorities...I hang out by NYU/LES/UES etc. and it seems to be a bunch of phony BS hipsters knocking down $6 beers on daddys CC explaining how great NY is and how they are going to change the world. I am one of the very few native NYers in my social circle...I am boring as hell compared to most of my LES friends...I understand the appeal but not the financial ability, parents due a disservice to their children by providing such ridiculous lifestyles, my parents supported/helped me but I worked from 18 yrs old on and throughout my 7 years of school to afford what I have now...and even so, as a single guy, it is very hard to get by in NYC let alone save a couple of bukcs per month. When you make your final decision please bear future concerns in mind...also remember that the other boroughs (Queens/BK) offer many ammeneties and a more than viable social life as well as easy access to Manhattan 24 hrs a day...if you have a few friends and split the $25 cab ride its not so bad. Manhattan is expensive, noisy and of no use socially if you are (or should be) studying. Succeed in school and parlay that into whatever life you want. Treat Manhattan as a once-a-week night out at this stage.

I pay $1485 for a dingy walk-up, and its worth every penny =). Although I plan on buying as soon as possible. In my humble opinion, if I have to live somewhere outside of Manhattan/Bklyn, I may as well move to another city and live in it.

 

[Presto87]

Originally Posted by samblau

I know I bought into the hype re: NYC but seriously...will there ever be a backlash against manhattan...very few younger people can afford housing on their own let alone the ability to go out and enjoy many of NY's niceities, especially if they are still paying don student loans...people who can afford to live in Manhattan typically work very long hours thus it makes sense to live here...often times Manhattanites are too tired to go out on Friday nights....most of what I see is that younger people with gobs of and/or no conception of money live in places like the UES and Williamsburg trying to proclaim their independence by living in faux squalor rather than somewhere practical. Real students and young professionals could not possibly afford and would be smart enough not to pay $3k p/m in rent to live in a dingy walk-up. At least for my obscene rent I have a gorgeous new building convenient to work/courts/transportation/gym, all things that are important to me...of course we all have different priorities...I hang out by NYU/LES/UES etc. and it seems to be a bunch of phony BS hipsters knocking down $6 beers on daddys CC explaining how great NY is and how they are going to change the world. I am one of the very few native NYers in my social circle...I am boring as hell compared to most of my LES friends...I understand the appeal but not the financial ability, parents due a disservice to their children by providing such ridiculous lifestyles, my parents supported/helped me but I worked from 18 yrs old on and throughout my 7 years of school to afford what I have now...and even so, as a single guy, it is very hard to get by in NYC let alone save a couple of bukcs per month. When you make your final decision please bear future concerns in mind...also remember that the other boroughs (Queens/BK) offer many ammeneties and a more than viable social life as well as easy access to Manhattan 24 hrs a day...if you have a few friends and split the $25 cab ride its not so bad. Manhattan is expensive, noisy and of no use socially if you are (or should be) studying. Succeed in school and parlay that into whatever life you want. Treat Manhattan as a once-a-week night out at this stage.

Thanks for the reality check!

Seriously though .... I do get what you mean. Those who CAN afford Manhattan lifestyle, don't have the time to. And those that blow their $$$ on wild-nights out - haven't really planned for future financial stability. So now it seems that Brooklyn is my go-to! Just curious, how far is Brooklyn from Manhattan (by cab)?

 

[SoCal2NYC]

Depends where in Brooklyn you are. Most trains go from midtown/Financial District to Brooklyn no problem.

I can get from the West 70s to my friend's place in Carrol Gardens in about 30-40 min during the daytime and 45-1hr late at night.