NY Associates: Where to live?

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filibuster
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Re: NY Associates: Where to live?

Postby filibuster » Tue Aug 16, 2016 9:23 am

blsingindisguise wrote:
filibuster wrote:I'm renting in Cobble Hill/Boerum Hill area and is amazing, cheap and a 45 minute subway ride to my midtown office


What's "cheap" these days? I thought that area had gotten pretty pricey.


Paying $2,500 a month

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Danger Zone
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Re: NY Associates: Where to live?

Postby Danger Zone » Tue Aug 16, 2016 10:45 am

For a studio? If so, LJL at the insanity of rent, even in Brooklyn.

notgreat
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Re: NY Associates: Where to live?

Postby notgreat » Tue Aug 16, 2016 2:12 pm

Danger Zone wrote:For a studio? If so, LJL at the insanity of rent, even in Brooklyn.


I was looking at studios all over MFH below 42nd and I couldn't find anything that wasn't a legit shit hole for less than about $2,500. Pretty much everything decent started there. So $2,500 for a decent place in Brooklyn doesn't sound off. It's pretty fucked I guess.
Last edited by notgreat on Tue Aug 16, 2016 2:17 pm, edited 1 time in total.

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sublime
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Re: NY Associates: Where to live?

Postby sublime » Tue Aug 16, 2016 2:17 pm

notgreat wrote:
Danger Zone wrote:For a studio? If so, LJL at the insanity of rent, even in Brooklyn.


I was looking at studios all over MFH below 42nd and I couldn't find anything that wasn't a legit shit hole for less than about $2,500. Pretty much everything decent started there. It's pretty fucked I guess.


Do you need to be below 42nd?

I saw (and leased one) some pretty nice apartments that were 1 BR's in Hells Kitchen for 2900-3200ish.

notgreat
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Re: NY Associates: Where to live?

Postby notgreat » Tue Aug 16, 2016 2:23 pm

sublime wrote:
notgreat wrote:
Danger Zone wrote:For a studio? If so, LJL at the insanity of rent, even in Brooklyn.


I was looking at studios all over MFH below 42nd and I couldn't find anything that wasn't a legit shit hole for less than about $2,500. Pretty much everything decent started there. It's pretty fucked I guess.


Do you need to be below 42nd?

I saw (and leased one) some pretty nice apartments that were 1 BR's in Hells Kitchen for 2900-3200ish.


I'm working downtown and not in midtown. I don't have to be below 42nd, because the trains in this town are pretty damn good for getting downtown during the week. But I prefer lower Manhattan (at least for now while I'm single) and it probably takes several minutes off my commute.

But yeah I'd definitely look at Hells Kitchen if I was working in midtown, especially if it was at Cravath, Skadden, Proskauer, etc.

blsingindisguise
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Re: NY Associates: Where to live?

Postby blsingindisguise » Wed Aug 17, 2016 5:32 pm

If you're working in Midtown and want to save money, still lots of affordable Queens neighborhoods along the EFMR line and the 7 line.

somedude
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Re: NY Associates: Where to live?

Postby somedude » Wed Aug 17, 2016 11:48 pm

1st yr associate midtown, live in brooklyn, 30 minute door-to-door commute. if you're a person who thinks he/she belongs in brooklyn / queens, don't let the "oh the hours" "oh it's so far" nonsense stop you...you'll be fine. (if you think that advice sounds stupid, then live close to the office.) my advice is to save money on rent (somehow....roommate(s)/brooklyn/queens) and save the money. if you decide that you're too far from work in year 1 AND after a year you still see yourself working at the firm for several years, then move. but if you're like the majority of people who start on day 1, you will be gone within 3 years. save more money and pay down your loans faster. some people pay $2800ish for rent in year 1....they are effectively borrowing money from their future selves to live in apartments that they will be practically unable to afford for the rest of their lives. don't do it.

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Tiago Splitter
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Re: NY Associates: Where to live?

Postby Tiago Splitter » Thu Aug 18, 2016 2:48 am

somedude wrote:1st yr associate midtown, live in brooklyn, 30 minute door-to-door commute. if you're a person who thinks he/she belongs in brooklyn / queens, don't let the "oh the hours" "oh it's so far" nonsense stop you...you'll be fine. (if you think that advice sounds stupid, then live close to the office.) my advice is to save money on rent (somehow....roommate(s)/brooklyn/queens) and save the money. if you decide that you're too far from work in year 1 AND after a year you still see yourself working at the firm for several years, then move. but if you're like the majority of people who start on day 1, you will be gone within 3 years. save more money and pay down your loans faster. some people pay $2800ish for rent in year 1....they are effectively borrowing money from their future selves to live in apartments that they will be practically unable to afford for the rest of their lives. don't do it.

Are you in Greenpoint or somewhere around there?

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Frayed Knot
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Re: NY Associates: Where to live?

Postby Frayed Knot » Thu Aug 18, 2016 8:41 am

somedude wrote:1st yr associate midtown, live in brooklyn, 30 minute door-to-door commute. if you're a person who thinks he/she belongs in brooklyn / queens, don't let the "oh the hours" "oh it's so far" nonsense stop you...you'll be fine. (if you think that advice sounds stupid, then live close to the office.) my advice is to save money on rent (somehow....roommate(s)/brooklyn/queens) and save the money. if you decide that you're too far from work in year 1 AND after a year you still see yourself working at the firm for several years, then move. but if you're like the majority of people who start on day 1, you will be gone within 3 years. save more money and pay down your loans faster. some people pay $2800ish for rent in year 1....they are effectively borrowing money from their future selves to live in apartments that they will be practically unable to afford for the rest of their lives. don't do it.

I don't necessarily disagree with this, but to take the other side of this argument: by the time you reach your 3rd year, you'll be making ~$10k/month. So, if spending a little extra on an apartment delays burnout just by a month or two, you can easily come out ahead. And, of course, if being less burnt out helps you land a better exit opportunity, then that will pay off for the rest of your career.

All else being equal, you should save as much as possible. But all else is never equal. So it's up to you to know yourself and know what's going to drive you crazy and what isn't.

blsingindisguise
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Re: NY Associates: Where to live?

Postby blsingindisguise » Fri Aug 19, 2016 3:40 pm

Honestly these days I think in some cases you can get a Manhattan apartment close to biglaw locations for the same or less than an apartment in a nice Brooklyn neighborhood. For example, if you were at Debevoise in Midtown East, you could probably rent in Sutton Place/Turtle Bay and walk to work for about the same rent as Brooklyn Heights/Cobble Hill/Carroll Gardens. I'd rather live in Brooklyn Heights/Cobble HIll/Carroll Gardens personally, but Sutton Place/Turtle Bay is a pleasant and relatively quiet area with attractive pre-war buildings and waterfront views.

dixiecupdrinking
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Re: NY Associates: Where to live?

Postby dixiecupdrinking » Fri Aug 19, 2016 6:11 pm

blsingindisguise wrote:Honestly these days I think in some cases you can get a Manhattan apartment close to biglaw locations for the same or less than an apartment in a nice Brooklyn neighborhood. For example, if you were at Debevoise in Midtown East, you could probably rent in Sutton Place/Turtle Bay and walk to work for about the same rent as Brooklyn Heights/Cobble Hill/Carroll Gardens. I'd rather live in Brooklyn Heights/Cobble HIll/Carroll Gardens personally, but Sutton Place/Turtle Bay is a pleasant and relatively quiet area with attractive pre-war buildings and waterfront views.

Yeah this is right. East side of midtown and UES are equivalent or cheaper than brownstone Brooklyn at this point. You'll probably still get a little less space for the money though.




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