Manhattan real estate - Page 4

TripSearching · #31 08-10-2007, 04:55 PM

OP, would you consider Hoboken, Edgewater, Riveredge or Weehawken? You will get more for your money while still having a descent commute if you live in any of these places. For 1.8m in Edgewater/Weehawken area you can get at least a 3bedroom townhouse on the water and you have the Ferry which will take you downtown in 20 mintues. In Hoboken you could either take the path or the ferry. I also find the ferry to be a much more enjoyable daily commute then to have to be on an overcrowded subway for 15 minutes. I do not know if you have a car but at alot of these townhouses you have parking for a car which is a nice perk and saves 5K+ a year when compared to the cost of having a car in NYC and paying for parking.

emon87 · #32 08-10-2007, 07:00 PM

That's a good issue about the car. I have a car right now and I love having a car. If I were living in the places that people mentioned for me above, how much would I be paying to have somewhere to put my car?

MrBlue · #33 08-10-2007, 07:25 PM

I like this site:

http://nyc.bestparking.com/

Anywhere from $370-800.

edtost · #34 08-10-2007, 07:48 PM

you would have no desire to keep owning a car in manhattan.

emon87 · #35 08-10-2007, 09:11 PM

why not?

Tweety · #36 08-12-2007, 09:16 PM

[ QUOTE ]
Tweety,

What do you do?

If I were you I'd also consider Brooklyn or NJ. Park Slope is jam-packed with your demographic.

Also, I'd try my best to stay out of a situation where you can get hurt (buying at your max). To me its worth it to wait another year or two for additional safety margin.

[/ QUOTE ]

I'm a trader at an investment bank in midtown. I am at my desk by no later than 7am (usually more like 6:30 or 6:45), so I really have no interest in commuting, despite the many draws of living in the suburbs, including more space for less money.

Also, I grew up in NYC, my parents still live here, and so so do many of my friends, so it is really home to me.

Tweety · #37 08-12-2007, 09:55 PM

[ QUOTE ]
I just noticed that you have a child as well. So here's some more unsolicited advice: Get out of NYC before (s)he's in school. You'll have to pay the equivalent of college tuition for a good private school in NYC. I don't think Manhattan is a good place to raise children at all. Let your kids have the opportunity to ride their bikes around town and play pickup wiffleball games during the summer.

[/ QUOTE ]

I hear you and plenty of people agree with your view, but I have lived here all my life, and my parents are pretty well off and would pick up tuition if my wife and I were struggling, so that's really a non-issue.

The quality of private schools in NYC is excellent, if your kid gets into one of the good ones.

Tweety · #38 08-13-2007, 07:11 PM

[ QUOTE ]
[ QUOTE ]

My god, is that typical of the area or are you just buying a real expensive apartment? It sounds like it's typical.

If thats average, does the average job pay that much more, in the New York area compared to others?

My wife and I just moved from a small 1,500 square foot house about 15 years old With 3 bedrooms, 3 bathrooms and a finished basement into a 1 year old fully detached 4 bedroom model house, about 2,800 squaer feet (including the finished basement) with a fenced yard, hardwood floors throught the entire house, master ensuite, seperate soaker tub & shower, hot tub, granite counters in the kitchen, cathedral ceilings, pillars throught the house tons of upgrades for $292,000 Canadian.

The house we moved out of cost us $151, 500 3 years ago, How do you people afford such absurd morgatge payments? Are you just filthy rich?

Anyways a common mistake people make is to over-extend themselves, they buy to much house and max themselves out.
Go for the smaller apartment

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Two-million dollar apartments are, very, very nice, though most of them are not in the best possible locations. They would have to make at least $400,000 combined (which would be within normal range for two NYC professionals in early thirties and not out of line for one) for the purchase to be within means - I'm assuming the OP (+ his wife, if she works) makes slightly less than that.

I don't think New Yorkers get paid all that much more for doing the same thing (maybe 20% more?) but a disproportionate percentage of highest-paying jobs are here.

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You cannot come close to buying a $2,000,000 apartment in Manhattan on a gross household income of $400k.

Maintenance alone is anywhere from $2,500 to $4,000 a month, you have your mortgage payment, and then you have all the other uber-expensive costs of living in Manhattan.

Tweety · #39 08-13-2007, 07:40 PM

[ QUOTE ]
OP, would you consider Hoboken, Edgewater, Riveredge or Weehawken? You will get more for your money while still having a descent commute if you live in any of these places. For 1.8m in Edgewater/Weehawken area you can get at least a 3bedroom townhouse on the water and you have the Ferry which will take you downtown in 20 mintues. In Hoboken you could either take the path or the ferry. I also find the ferry to be a much more enjoyable daily commute then to have to be on an overcrowded subway for 15 minutes. I do not know if you have a car but at alot of these townhouses you have parking for a car which is a nice perk and saves 5K+ a year when compared to the cost of having a car in NYC and paying for parking.

[/ QUOTE ]

That doesn't sound like a bad alternative at all, except that I'm a born and raised city guy and my roots are really in Manhattan, both socially and family-wise.

punter33-3 · #40 08-14-2007, 01:51 AM

[ QUOTE ]
I have no idea about the Manhatten housing situation, but I do have a question about it:

How much would a studio, a 1 BR, or a 2 BR apartment cost per month for someone working in the financial district and right out of college? I don't know what all the neighborhoods are, so pick one where a lot of similar aged/professioned people live.

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I just moved downtown the past couple of months and live in a luxury doorman building, with concierge, and a free gym. They have studios here that start at 2100 and some of them are quite big for studios that I have seen. I live in their largest studio which costs me 2800 but well worth it imo. The building is called 90 West St. It is directly in front of the WTC site. It was one of the buildings that was damaged during 9/11 and renovated and turned into luxury apartments. A lot of young professionals working in the financial district are living here. You are a close walk to Wall St. Might be of interest to you. No broker fee either if you go direct to their onsite leasing office. Good luck in your search.

http://www.90weststreet.com/