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Hi all, I've done a search and my query doesn't seem to have been asked before so here I go:
I'm moving on a comp transfer from London to NYC at the end of Feb, my new office - an ad agency - will be just by Grand Central. I'll be earning around 100k, taking home roughly 5500 - 6000 a month. I don't need to save cash as I have a couple of flats I'm renting out in London and view them as my 'savings'. I'm early 30s, single, straight and prefer cooler / slightly edgy areas to live rather than super posh / ultra expensive areas (if anyone knows London I'm talking about Old Street or Shoreditch type areas) I'm in to arts, galleries, film, music, going to the gym, going out, good food, and hopefully (if I get very very lucky!) dating.
I've been recommended East Village, Brooklyn, Bottom edge of spanish Harlem, Alphabet city/Williamsburg/Fort Greene and Hoboken as areas to live. I'm looking for a share with a big room, or a smaller 1 bed place for myself. I also want to be able to cycle to work if possible.
Do you think my salary will afford me the lifestyle I'm looking for? Where would you recommend for areas for someone like me. I just want to live in a slightly cool area, go out and have fun and enjoy new york for a couple of years.
I'd do East Village around St. Marks. You can walk to the 6 at Astor Place, which will take you to Grand Central in 10 minutes. East Village is a very hip area with lots of 20 and 30 somethings, excellent clubs, ethnic food, music scene and a couple gyms. You can probably find a nice studio for about 2000 or if you're willing to share you'd probably pay less than 1500. You can bike to work from there in about 30 minutes but be careful biking in New York, it's much more chaotic than London streets. Cabbies don't care at all here.
I'd do East Village around St. Marks. You can walk to the 6 at Astor Place, which will take you to Grand Central in 10 minutes. East Village is a very hip area with lots of 20 and 30 somethings, excellent clubs, ethnic food, music scene and a couple gyms. You can probably find a nice studio for about 2000 or if you're willing to share you'd probably pay less than 1500. You can bike to work from there in about 30 minutes but be careful biking in New York, it's much more chaotic than London streets. Cabbies don't care at all here.
Brilliant, thanks for the advice. East Village does sound good. NYC here I come! Can't believe it's happening!
I would also suggest nearby areas to consider, including NoHo and NoLita, which are between the East Village and Greenwich Village. They might be a little more trendy, and some can be more upscale, but it's not the same degree as SoHo and parts of TriBeCa.
Other than those areas Brooklyn can be nice as well, DUMBO, Brooklyn Heights, Fort Greene, are all nice, though the Heights may be a little more to the upscale than you are seeking as will the newer buildings in DUMBO.
I would not recommend riding a bicycle, however, from Brooklyn, and the traffic as Biskit pointed out is not as hospitible to bicyclists, including the bike messengers who would push their own mother in front of a crosstown bus if they got in their way. Also, many buildings are not equipped to store bicycles in Manhattan, and some don't have showers availavble, either. This is changing, however, with some dedicated, large, protected bike lanes that have been implemented on several streets in Manhattan, and there are proposals under review requiring bicycle storage in new buildings. So, a looming bike-to-work culture could be in its infancy if all goes according to plan.
You'll actually be taking home a bit less than you anticipate. About 33% of your money will go to the federal govenment, then NYC and NY State each get a cut. So it won't be as much as you anticipate.
And is the company covering your health insurance? Because that will take a chunk of your money, too.
I would also suggest nearby areas to consider, including NoHo and NoLita, which are between the East Village and Greenwich Village. They might be a little more trendy, and some can be more upscale, but it's not the same degree as SoHo and parts of TriBeCa.
I would not recommend riding a bicycle, however, from Brooklyn, and the traffic as Biskit pointed out is not as hospitible to bicyclists, including the bike messengers who would push their own mother in front of a crosstown bus if they got in their way. Also, many buildings are not equipped to store bicycles in Manhattan, and some don't have showers availavble, either.
Thanks for the advice, really appreciate it. The Company has showers and a dedicated underground secure area for bikes so thats all cool. Do you think my budget is ok to live on the island/NoHo/NoLita/East Village?
You'll actually be taking home a bit less than you anticipate. About 33% of your money will go to the federal govenment, then NYC and NY State each get a cut. So it won't be as much as you anticipate.
And is the company covering your health insurance? Because that will take a chunk of your money, too.
I think it'll be around 5000 take home, but i can top it up with up to 1000 more from my rental income from the UK if needed. The company is covering Health Insurance. Its not an incredible package, just an ok one, but it's my chance for a shot at NYC whilst I'm still single so I'm grabbing it with both hands!
Thanks for the advice, really appreciate it. The Company has showers and a dedicated underground secure area for bikes so thats all cool. Do you think my budget is ok to live on the island/NoHo/NoLita/East Village?
I think so, since using the standard multiplier for Manhattan of 40x monthly income for rent, you'd be able to spend up to $2500. You don't have to spend that, however, to get a smaller 1BR in the NoLita/Bowery/NoHo areas, since you should be able to find something nearer $2k/month.
Very cool about the storage and showers. You could easily ride to work, then, from Lower Manhattan. Just ride defensively, and you should be fine.
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