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NY Rent?

Post by Anonymous User » Tue Aug 02, 2022 2:46 am

I'm joining a v20 firm this fall, located in midtown. I'm under the impression that a decent 1B1B cost around $6,000? Don't really want to spend half of salary on rent. Any data points?

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Re: NY Rent?

Post by Anonymous User » Tue Aug 02, 2022 3:19 am

LOOL no it's more like 2500-3000.

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Re: NY Rent?

Post by Anonymous User » Tue Aug 02, 2022 6:54 am

Anonymous User wrote:
Tue Aug 02, 2022 2:46 am
I'm joining a v20 firm this fall, located in midtown. I'm under the impression that a decent 1B1B cost around $6,000? Don't really want to spend half of salary on rent. Any data points?
Depends on where you want to live, but there is absolutely no reason for you to be spending $6000. There are certainly 1B1B that cost that much and more, but that is in a luxury bracket most people don't find necessary/affordable

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Re: NY Rent?

Post by Anonymous User » Tue Aug 02, 2022 8:03 am


Res Ipsa Loquitter

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Re: NY Rent?

Post by Res Ipsa Loquitter » Tue Aug 02, 2022 8:28 am

You won’t qualify for a $6K lease by showing your offer from Cleary. Your monthly take home also won’t be as high as $12K.

The max you can qualify for without a guarantor is $5375, but anything over $4000 you’ll likely end up regretting.

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Re: NY Rent?

Post by Anonymous User » Tue Aug 02, 2022 10:18 am

Anonymous User wrote:
Tue Aug 02, 2022 3:19 am
LOOL no it's more like 2500-3000.
It's close to impossible to find a 1B below 3k in manhattan right now, for a studio, might be doable

thisismytlsuername

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Re: NY Rent?

Post by thisismytlsuername » Tue Aug 02, 2022 10:24 am

Anonymous User wrote:
Tue Aug 02, 2022 10:18 am
Anonymous User wrote:
Tue Aug 02, 2022 3:19 am
LOOL no it's more like 2500-3000.
It's close to impossible to find a 1B below 3k in manhattan right now, for a studio, might be doable
Yeah, very close to impossible, there are only 118 on streeteasy in the Upper East Side alone.

https://streeteasy.com/1-bedroom-apartm ... rice:-3000

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Re: NY Rent?

Post by Anonymous User » Tue Aug 02, 2022 10:46 am

thisismytlsuername wrote:
Tue Aug 02, 2022 10:24 am
Anonymous User wrote:
Tue Aug 02, 2022 10:18 am
Anonymous User wrote:
Tue Aug 02, 2022 3:19 am
LOOL no it's more like 2500-3000.
It's close to impossible to find a 1B below 3k in manhattan right now, for a studio, might be doable
Yeah, very close to impossible, there are only 118 on streeteasy in the Upper East Side alone.

https://streeteasy.com/1-bedroom-apartm ... rice:-3000
y'all crazy. Doing Biglaw in Seattle and bringing home just under 12K a month as second year.

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Re: NY Rent?

Post by thisismytlsuername » Tue Aug 02, 2022 10:51 am

Anonymous User wrote:
Tue Aug 02, 2022 10:46 am
thisismytlsuername wrote:
Tue Aug 02, 2022 10:24 am
Anonymous User wrote:
Tue Aug 02, 2022 10:18 am
Anonymous User wrote:
Tue Aug 02, 2022 3:19 am
LOOL no it's more like 2500-3000.
It's close to impossible to find a 1B below 3k in manhattan right now, for a studio, might be doable
Yeah, very close to impossible, there are only 118 on streeteasy in the Upper East Side alone.

https://streeteasy.com/1-bedroom-apartm ... rice:-3000
y'all crazy. Doing Biglaw in Seattle and bringing home just under 12K a month as second year.
Congrats! Hey everyone, look over here at this guy who works in Seattle! He likes his life so much that he reads threads about rent in NYC!

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Re: NY Rent?

Post by Anonymous User » Tue Aug 02, 2022 1:55 pm

thisismytlsuername wrote:
Tue Aug 02, 2022 10:24 am
Anonymous User wrote:
Tue Aug 02, 2022 10:18 am
Anonymous User wrote:
Tue Aug 02, 2022 3:19 am
LOOL no it's more like 2500-3000.
It's close to impossible to find a 1B below 3k in manhattan right now, for a studio, might be doable
Yeah, very close to impossible, there are only 118 on streeteasy in the Upper East Side alone.

https://streeteasy.com/1-bedroom-apartm ... rice:-3000
Different person than the one you're responding to, but while it's possible to find a 1 BD under $3,000, the majority of those apartments don't have basic features like a dishwasher and laundry in the building. I moved last year and it's hard to square NYC prices with what you get if you're coming from anywhere else. I personally did not consider a walk-up apartment without a dishwasher and/or laundry in the building to be a "decent apartment" when I was looking.

That said, if your vision of a decent apartment is a doorman building with an elevator and new fixtures and a dishwasher and laundry in unit, that's running $5,000+ for a 1 BD in Manhattan right now.

thisismytlsuername

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Re: NY Rent?

Post by thisismytlsuername » Tue Aug 02, 2022 1:58 pm

Anonymous User wrote:
Tue Aug 02, 2022 1:55 pm
thisismytlsuername wrote:
Tue Aug 02, 2022 10:24 am
Anonymous User wrote:
Tue Aug 02, 2022 10:18 am
Anonymous User wrote:
Tue Aug 02, 2022 3:19 am
LOOL no it's more like 2500-3000.
It's close to impossible to find a 1B below 3k in manhattan right now, for a studio, might be doable
Yeah, very close to impossible, there are only 118 on streeteasy in the Upper East Side alone.

https://streeteasy.com/1-bedroom-apartm ... rice:-3000
Different person than the one you're responding to, but while it's possible to find a 1 BD under $3,000, the majority of those apartments don't have basic features like a dishwasher and laundry in the building. I moved last year and it's hard to square NYC prices with what you get if you're coming from anywhere else. I personally did not consider a walk-up apartment without a dishwasher and/or laundry in the building to be a "decent apartment" when I was looking.

That said, if your vision of a decent apartment is a doorman building with an elevator and new fixtures and a dishwasher and laundry in unit, that's running $5,000+ for a 1 BD in Manhattan right now.
Sure, if you want a bunch of features that 90% of apartments in NYC don't have, that's going to limit your pool a bit.

1styearlateral

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Re: NY Rent?

Post by 1styearlateral » Tue Aug 02, 2022 2:20 pm

The only answer is to live in JC or Hoboken and get a nice unit in a luxury building. You’ll save on income taxes, too. Or better yet, look in Weehawken/West NY/Edgewater and save even more. You can be in the city in as little as 15-20 min.

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Re: NY Rent?

Post by Res Ipsa Loquitter » Tue Aug 02, 2022 2:26 pm

thisismytlsuername wrote:
Tue Aug 02, 2022 10:24 am
Anonymous User wrote:
Tue Aug 02, 2022 10:18 am
Anonymous User wrote:
Tue Aug 02, 2022 3:19 am
LOOL no it's more like 2500-3000.
It's close to impossible to find a 1B below 3k in manhattan right now, for a studio, might be doable
Yeah, very close to impossible, there are only 118 on streeteasy in the Upper East Side alone.

https://streeteasy.com/1-bedroom-apartm ... rice:-3000
While there’s no need to spend $6000 or anywhere close on a 1 bed, the old tenement-style walkups on the UES for sub-$3K are mostly super shitty.

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Re: NY Rent?

Post by Anonymous User » Tue Aug 02, 2022 6:46 pm

Caution future NY associates -- this thread is full of blatant propaganda from big-dishwasher/-washing machine. A strapping young associate does not eat enough meals at home to need a dishwasher, and it's easy enough to do a wash and fold service for your clothes. Say yes to crown molding, so no to washing out of biglaw in two years without a penny to show for it.

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Re: NY Rent?

Post by axiomaticapiary » Tue Aug 02, 2022 6:53 pm

Summoning titan of the Orlando medmal bar John “Adirondack” Dooley to laugh at NYC kids who have been cucked into paying $6,000 for a fucking laundry machine

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Re: NY Rent?

Post by Res Ipsa Loquitter » Tue Aug 02, 2022 7:14 pm

Anonymous User wrote:
Tue Aug 02, 2022 6:46 pm
Caution future NY associates -- this thread is full of blatant propaganda from big-dishwasher/-washing machine. A strapping young associate does not eat enough meals at home to need a dishwasher, and it's easy enough to do a wash and fold service for your clothes. Say yes to crown molding, so no to washing out of biglaw in two years without a penny to show for it.
$6K is insane and out-of-budget for a biglaw first year. But you’re going to the other extreme. Whether someone pays $2500 or $3500 is 24 grand over 2 years. Not exactly a king’s ransom.

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Re: NY Rent?

Post by johndooley » Tue Aug 02, 2022 7:44 pm

axiomaticapiary wrote:
Tue Aug 02, 2022 6:53 pm
Summoning titan of the Orlando medmal bar John “Adirondack” Dooley to laugh at NYC kids who have been cucked into paying $6,000 for a fucking laundry machine
I laugh at the arrogant ones who thought working for a large firm was a reasonable shot at becoming rich. I do not laugh at those who underestimated how difficult it is to become financially secure with decent hours in corporate life. It is pathetic a lot of these posters are fighting to achieve neutral net worth in their late 20s/early 30s while they bicker over 1BRs costing 3k or 6k per month and whether this includes a doorman or an elevator. You hold a professional license and you are doing your own laundry? You got tricked. And let's say it all works out for them a decade down the line. My children will know my name and have a higher credit limit than theirs. "Dad" to their children just means any man talking to them who isn't homeless as they are chained to a desk with fire drills.

I do not look down on those striving for a lot of money or security (see my posts on my real estate portfolio and 529) but there are much much much easier ways to do it than big law. A quick ten minutes on this website should dispel anyone of those fantasies.

If and when we purchase a second personal residence, the Misses advocates for NYC. The monthly HOA/maintenance in a halfway-decent Manhattan building is worth a weekend at a decent hotel with entertainment close to the Park. Pass.

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Re: NY Rent?

Post by Anonymous User » Wed Aug 03, 2022 1:28 am

people have different desires john. It's great that you have a big house in a lower cost of living area or whatever, but some people like the excitement of the city and don't mind doing laundry.

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Re: NY Rent?

Post by johndooley » Wed Aug 03, 2022 10:58 am

Anonymous User wrote:
Wed Aug 03, 2022 1:28 am
people have different desires john. It's great that you have a big house in a lower cost of living area or whatever, but some people like the excitement of the city and don't mind doing laundry.
You can have all the urban excitement you can ask for AND EVEN DO LAUNDRY in Chicago or D.C. (and some hipper parts of Los Angeles) with a lower cost and less headache. Here is a good location, doorman, sizable 1BR with plenty of amenities: https://www.zillow.com/homedetails/233- ... 6755_zpid/

Here is a good location with architectural features people in the Village all want (and this probably has working plumbing): https://www.zillow.com/homedetails/1809 ... 6995_zpid/

You see, these 20 and 30-somethings flocking to NYC are little more than "marks." They are marks for the housing scam, for the 60-80 hour a work week scam (unless you are in some crazy competitive finance position or neurosurgery resident where millions may very well come your way), for the trendy t-shirt scam that is made in Vietnam. They are fed Seinfeld and How I Met Your Mother and Friends and told you have to move to NYC and student debt is no biggie if you go to a T-14 and enter corporate law.

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Re: NY Rent?

Post by Res Ipsa Loquitter » Wed Aug 03, 2022 12:01 pm

johndooley wrote:
Wed Aug 03, 2022 10:58 am
Anonymous User wrote:
Wed Aug 03, 2022 1:28 am
people have different desires john. It's great that you have a big house in a lower cost of living area or whatever, but some people like the excitement of the city and don't mind doing laundry.
You can have all the urban excitement you can ask for AND EVEN DO LAUNDRY in Chicago or D.C. (and some hipper parts of Los Angeles) with a lower cost and less headache. Here is a good location, doorman, sizable 1BR with plenty of amenities: https://www.zillow.com/homedetails/233- ... 6755_zpid/

Here is a good location with architectural features people in the Village all want (and this probably has working plumbing): https://www.zillow.com/homedetails/1809 ... 6995_zpid/

You see, these 20 and 30-somethings flocking to NYC are little more than "marks." They are marks for the housing scam, for the 60-80 hour a work week scam (unless you are in some crazy competitive finance position or neurosurgery resident where millions may very well come your way), for the trendy t-shirt scam that is made in Vietnam. They are fed Seinfeld and How I Met Your Mother and Friends and told you have to move to NYC and student debt is no biggie if you go to a T-14 and enter corporate law.
I’m as big of a Dooley fan as you’ll find on this website, but not everyone doing NYC biglaw is a “mark” for a “scam” — if somebody borrowed $300K under the assumption they’d immediately get a sweet apartment in the West Village and strike it rich, then sure, that person is an idiot. But paying $4K a month for rent and making $400K as a midlevel is not exactly being shaken down IMO.

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Re: NY Rent?

Post by Anonymous User » Wed Aug 03, 2022 12:43 pm

johndooley wrote:
Wed Aug 03, 2022 10:58 am
Anonymous User wrote:
Wed Aug 03, 2022 1:28 am
people have different desires john. It's great that you have a big house in a lower cost of living area or whatever, but some people like the excitement of the city and don't mind doing laundry.
You can have all the urban excitement you can ask for AND EVEN DO LAUNDRY in Chicago or D.C. (and some hipper parts of Los Angeles) with a lower cost and less headache. Here is a good location, doorman, sizable 1BR with plenty of amenities: https://www.zillow.com/homedetails/233- ... 6755_zpid/

Here is a good location with architectural features people in the Village all want (and this probably has working plumbing): https://www.zillow.com/homedetails/1809 ... 6995_zpid/

You see, these 20 and 30-somethings flocking to NYC are little more than "marks." They are marks for the housing scam, for the 60-80 hour a work week scam (unless you are in some crazy competitive finance position or neurosurgery resident where millions may very well come your way), for the trendy t-shirt scam that is made in Vietnam. They are fed Seinfeld and How I Met Your Mother and Friends and told you have to move to NYC and student debt is no biggie if you go to a T-14 and enter corporate law.
That Chicago apartment is revolting. I've lived in Manhattan for 10 years and never paid more than $3200/month in rent, and all of my apartments have been nicer than that (with the possible exception of my very first apartment which was a $1500 one bedroom), and I'm still a multi-millionaire from biglaw. I'm such a mark.

Also, I'd much rather pay $20/week to have someone do my laundry for me. I haven't folded an article of clothing in a decade.

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Re: NY Rent?

Post by johndooley » Wed Aug 03, 2022 12:57 pm

Res Ipsa Loquitter wrote:
Wed Aug 03, 2022 12:01 pm
johndooley wrote:
Wed Aug 03, 2022 10:58 am
Anonymous User wrote:
Wed Aug 03, 2022 1:28 am
people have different desires john. It's great that you have a big house in a lower cost of living area or whatever, but some people like the excitement of the city and don't mind doing laundry.
You can have all the urban excitement you can ask for AND EVEN DO LAUNDRY in Chicago or D.C. (and some hipper parts of Los Angeles) with a lower cost and less headache. Here is a good location, doorman, sizable 1BR with plenty of amenities: https://www.zillow.com/homedetails/233- ... 6755_zpid/

Here is a good location with architectural features people in the Village all want (and this probably has working plumbing): https://www.zillow.com/homedetails/1809 ... 6995_zpid/

You see, these 20 and 30-somethings flocking to NYC are little more than "marks." They are marks for the housing scam, for the 60-80 hour a work week scam (unless you are in some crazy competitive finance position or neurosurgery resident where millions may very well come your way), for the trendy t-shirt scam that is made in Vietnam. They are fed Seinfeld and How I Met Your Mother and Friends and told you have to move to NYC and student debt is no biggie if you go to a T-14 and enter corporate law.
I’m as big of a Dooley fan as you’ll find on this website, but not everyone doing NYC biglaw is a “mark” for a “scam” — if somebody borrowed $300K under the assumption they’d immediately get a sweet apartment in the West Village and strike it rich, then sure, that person is an idiot. But paying $4K a month for rent and making $400K as a midlevel is not exactly being shaken down IMO.
If you went to a bad undergrad (like I did), coasted in an easy major with a 4.0, went to law school for free, and then got big law that can make sense (better to go to a good undergrad and just work a remunerative corporate job from age 22 on though). Even though the taxes in NY/DC/LA are not ideal, without the student debt load it can be okay. If you pay NYC taxes, get hit by the marriage penalty, have to pay NYC rates of daycare for children, and have a student debt load, you are being jobbed hard. I'd say any two of those four is getting conned. And this is before you look at buying a 2BR/3BR apartment or a house in a suburb within 40 minutes of your office.

My broader point on NYC is that very few people can justify living there given its cost and similar attractions in less expensive cities, they tend to have eight figure net worth and often grew up there or another international hotspot like London or Hong Kong. A lot of people in big law do not have family in the five boroughs (parents in NJ an hour away do not count, you will not see them much) and do not enjoy the world class amenities you cannot find in Chicago or DC. Yet they pay to live there.

The Lsat Airbender

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Re: NY Rent?

Post by The Lsat Airbender » Wed Aug 03, 2022 12:59 pm

Anonymous User wrote:
Wed Aug 03, 2022 12:43 pm
Also, I'd much rather pay $20/week to have someone do my laundry for me. I haven't folded an article of clothing in a decade.
This. No in-building machine is actually a superpower because it's social cover to rely exclusively on laundry services.

Dishwasher less fun to compromise on although I've done it and it's really not so bad (and I like to cook).

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Re: NY Rent?

Post by johndooley » Wed Aug 03, 2022 1:01 pm

Anonymous User wrote:
Wed Aug 03, 2022 12:43 pm
johndooley wrote:
Wed Aug 03, 2022 10:58 am
Anonymous User wrote:
Wed Aug 03, 2022 1:28 am
people have different desires john. It's great that you have a big house in a lower cost of living area or whatever, but some people like the excitement of the city and don't mind doing laundry.
You can have all the urban excitement you can ask for AND EVEN DO LAUNDRY in Chicago or D.C. (and some hipper parts of Los Angeles) with a lower cost and less headache. Here is a good location, doorman, sizable 1BR with plenty of amenities: https://www.zillow.com/homedetails/233- ... 6755_zpid/

Here is a good location with architectural features people in the Village all want (and this probably has working plumbing): https://www.zillow.com/homedetails/1809 ... 6995_zpid/

You see, these 20 and 30-somethings flocking to NYC are little more than "marks." They are marks for the housing scam, for the 60-80 hour a work week scam (unless you are in some crazy competitive finance position or neurosurgery resident where millions may very well come your way), for the trendy t-shirt scam that is made in Vietnam. They are fed Seinfeld and How I Met Your Mother and Friends and told you have to move to NYC and student debt is no biggie if you go to a T-14 and enter corporate law.
That Chicago apartment is revolting. I've lived in Manhattan for 10 years and never paid more than $3200/month in rent, and all of my apartments have been nicer than that (with the possible exception of my very first apartment which was a $1500 one bedroom), and I'm still a multi-millionaire from biglaw. I'm such a mark.

Also, I'd much rather pay $20/week to have someone do my laundry for me. I haven't folded an article of clothing in a decade.
Yea, dude, no debate on the laundry point........

Yes, granite countertops are not prestigious and the inside is dated stylistically, if well-maintained. The exterior of the building is pleasant and in the equivalent of the more expensive parts of the Upper East Side. "Revolting" is a stretch. This building does not have rodent or bed bug or cockroach infestations, the plumbing will always work. Yes, people can live in Manhattan for under $3200 a month, you are either taking advantage of rent control or have roommates or have a studio/1BR in a dangerous neighborhood. You certainly do not have a 1BR in a decent building in the West Village or the UES west of 5th.

"Multi-millionaire" 2 million is not impressive. Do you even own your own personal residence?

You are a mark. Go "turn over" some documents for your firm's client tonight.

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Re: NY Rent?

Post by johndooley » Wed Aug 03, 2022 1:02 pm

The Lsat Airbender wrote:
Wed Aug 03, 2022 12:59 pm
Anonymous User wrote:
Wed Aug 03, 2022 12:43 pm
Also, I'd much rather pay $20/week to have someone do my laundry for me. I haven't folded an article of clothing in a decade.
This. No in-building machine is actually a superpower because it's social cover to rely exclusively on laundry services.

Dishwasher less fun to compromise on although I've done it and it's really not so bad (and I like to cook).
For less rent in a newer building in a nicer neighborhood, you could have a dishwasher in Chicago. There is plenty of "big law" there

Seriously? What are you waiting for?

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