Living in Manhattan question.

Question

If I have $75,000 in the bank, and plan on making $65,000 - $75,000 a year, could I lice i manhatta? If so where and what should I look for rent in manhatta?

Thanks

Answer 1

If you have that much money put away I suggest buying a house in Queens or even Staten island or buying a condo in upper manhattan or south bronx. If you insist on living in lower manhattan on 75k a year you're going to burn through your savings in about 2 years. A  1500-1700 dollar a month studio in downtown manhattan is simply stupid.. and you'd really be a fool for paying that type of money. Don't be an idiot and spend that type of money to rent a tiny studio downtown just to say you live downtown. Any 1bedroom+ apartment below 96th street is going to destroy your wallet if you live alone on 75k/year. The rent will surely be between 1750-2200 for a one bedroom is a decent area. S**t areas of manhattan all have rents past 1200 for nice apartments, don't pay that type of money to live in h**l.

Please don't blow your savings of tinny lower manhattan apartments, where you'll have to pay 400 dollars a month for parking and everything else you have to pay for that seems to get more expensive in this city with every month that passes. This isn't the type of economy to be blowing that much savings on an apartment that back home you'd probably be paying 450 a month for.

a room in a brooklyn loft will start at 700,  the whole loft will always be well over 2500 dollars, a loft in the bronx will be around 1450, a decent 1br (even 2br) apartment in upper manhattan (past 168th street) is normally around 1200 (I think this is your best bet), a mortgage on a great place on Staten Island might be around 40k down payment and 1200-1500 a month.

I suggest buying property in Queens or Staten island. The suburban areas are both really low in crime and you won't have to deal with the pathetic influx of hipsters that are plaguing this city and driving up real estate costs. You'll be living in the city of new york, never more than 30mins from downtown manhattan, and as the real estate crisis gets worse you'll have a nice piece of property in a nice area that will increase in value every year.

Don't fall for the trap of giving away your savings to some scumbag real estate company for an overpriced apartment. Those lower manhattan apartments are for the rich, if you have 75k in the bank you should make it work for you man, Honestly, don't let it poof into thin air like that. I've seen it happen to lots of people who come here insisting on living in lower manhattan no matter what the costs only to find themselves burning through savings and living check to check to maintain some bullshit 2000/month apartment.

Answer 2

Rent in Manhattan will probably run you $1500 (for a small studio) to $4000/month.  Good luck! and lucky you that you make that much.

Answer 3

rent is 2500 on up in manhattan, plus car storage runs about 300, and then about 100 per month for transportation, it can be done if youre just one person, but if you have a family or spouse on that income then look  for places to live in the suburbs.