bigrooster81

Hi guys,

I've been reviewing previous threads and have got a lot of great information already but thought I would ask some specifics. I'm moving to NYC and have been offered a salary of $180K plus bonus of about 20%. (I always ignore the bonus and see it as just that - a bonus).

So is $180K a good salary for Manhattan?

This sounds stupid because at first glance it sounds awesome, but like many you hear the horror stories of the cost of living in Manhattan!

So to help you answer the question, here are my specifics:

1. I am single, 29, moving from London (so I'm not new to living in an expensive city), and will be living on my own.
2. I'll be working in Midtown, no need for a car.
3. I am looking to spend about $3,500-$4K per month on rent. Will that get me a nice one bed (or maybe 2 bed if its a bargain) anywhere on the West Side from the UWS down to the Village, across to Union Sq? (Any recommendations on where to live would also be great )
4. Aside from the usual expenses (food, cable, utilities, gym), I like to go out on the weekend to bars/clubs and eat out say twice a week.

Any help would really be appreciated. I'm so excited to be moving to Manhattan but really want to be prepared!

Thanks in advance!!

Duncan Roberts

Figure that after paycheck deductions like tax and benefits you will end up with $100k per year. So it sounds like with your rent idea you will, at worst, have about $50k per year to cover the rest of your expenses. If you can do it will depend completely on your lifestyle, wants and health. That's just a rough idea, you may be a little bit better or worse off depending on what comes out of your pay and what you have to pay in rent.

Rete

Should be quite fine with that income for a life in the city. I've friends that do it on a lot less.

But what is with everyone wanting a "gym"? Doesn't anyone just exercise for free anymore? Jogging, running, biking, skating?

winterbird

We just moved to Manhattan from London a month ago, my husband has the same salary as you, I can't work on a H4 visa, so when we file joint tax, after various deductions (health insurance etc), the net income a month is about $9200.

We are paying $3200 in UES, but it's a prewar, you would need to pay more for a doorman luxury building, but as a single male, I'd recommend you to pick a high rise doorman building, with gym, pool, laundry etc, it will make your life much easier. Midtown is quite boring at night, if you don't mind taking a few tube stops to work, Greenwich and West Village is nice, UWS can be hit and miss, so do your research and see a few more places before you make up your mind.

Also, if you walk around and see a building you like, go directly into the building and ask if they are rentals available, sometimes you can deal directly
with the management company and skip the estate agents and their fee.

Be prepared for the shocking price of their groceries, if you cook a lot at home, you will find that it's like you are shopping in Harrods food hall! Waitrose seems like a bargain to me now. A good grocery delivery I can recommend is freshdirect.com, they have relatively reasonable price, and if you live in UWS, you will have Fairway-but still, no Tesco or Sainsburys price here.


It's tempting to go out in Manhattan and i think in general, they have more good restaurants than London, however, after the tax and 20% tip, it's not cheaper than London. The one saving i can think of is that their portion is so big, we usually just ordered 2 appetizers and 1 main course to share (and still struggle to finish), and don't feel bad to ask for doggie bag, it seems to be a norm here (as well as sharing one entree).

bigrooster81

Thanks for the reply - its just compelled me to get off my lazy a**e and work out exactly what I should be taking home! I have just done a few sums on Excel and worked out that post rent I should be taking home about $5000 a month which seems fine.

I like to go out a lot but wouldn't consider my lifestyle as lavish - I love a dive bar as much as a lounge bar so I think I'll be OK.

I think what freaked me out is that fact that living in Central London has more and more become available for the very wealthy and was worried if Manhattan is like that.

But thanks for the response.

And thanks Reyte - I totally agree with youre the gym. But a) I'm not too keen on running outside in the freezing Manhattan winter, and b) I kind of enjoy going t the gym once a month and moaning about them taking a wad of money out of my account once a month!!

bigrooster81

That's awesome help Winterbird thank you!!

I have no problem with travelling a bit on the Subway, so the Village is my ideal place.

I do like to cook, but being a guy I'll go 50/50 with cooking and eating out.

On the note of doorman/non doorman. Is there a big advantage with a doorman building? Naturally there is the security advantage and someone's there to sign for packages, etc, but from my humble opinion it seems like a 'nice to have' for grandmas! Is there anything else I am missing?

Duncan Roberts

Makes you look posh for the birds...and keeps one downstairs whilst you have one upstairs!

bigrooster81

Sold!

winterbird

I have quite a bit of problem getting parcels, living in a non-doorman building, some people will ask a nearby dry-cleaner to sign parcels for them for a small fee. Manhattan is quite safe, so the doorman building is mainly for convenience - if there is something wrong with the apartment, you can contact the management straight away. Some non-doorman buildings have live-in super, that will be preferable, if you are looking for such buildings. One warning though: after watching so many Friends episodes, it might seem romantic to live in a walk-up or prewar, but lots of them have huge maintenance problem, or nasty neighbors, if you are unlucky. Newer doorman buildings could minimise this risk. But of course - all these can be avoided if you do research and inspect carefully before you sign the lease (check the bed big rergistry!). So good luck!

What else? If you are into dive bars, there are more in East Village, rent slightly cheaper than west village and Greenwich, but it's a nightlife hotspot and not everyone wants to live where they go out!

bigrooster81

Yeah, East Village reminds me of Camden Town. Good for a night out but wouldn't wanna live there!

To be honest, the convenience factor isn't a big seller for me re the doorman. I'm pretty self sufficient and can have things easily sent to my office. For me its all about the actual apartment. Like you say as long as I do my research I'll be in a better position.

E3only

Either way, 180k for a single I believe is a no brainer (and you say you are not lavish). About 10% unemployed will kill for half of that salary.

Gosh, at 29 earning 180k. Mate what the hell is your secret? What profession is this?

bigrooster81

Banking, but before people spit on the floor I'm actually in Risk and am being shipped over to help bring a bit of prudency to our bank.

I'm extremely fortunate in that sense. They really wanted me out there so I held a lot of the cards and hence could negotiate quite strongly. They close to doubled my London salary so as mentioned above I'm not particularly used to a lavish style and that's why I enjoy a pint with mates as much as going out clubbing.

On a different note, with regards to renting an apartment. The bank are paying my brokerage fees so I'll be doing it through a broker. In the current climate, is there scope to 'haggle' rent? Or is the Manhattan rental environment so buoyant brokers will laugh at me if I try to negotiate?

Bladerunner

Rents are getting a lot cheaper. I used to live in the E Village in a grotty pre-war 1 bed walk up, paying about 1500. Now I live in a "luxury" UES doorman building with a health club, steam room etc on the top floor. I'm paying 1800.

I can see the attraction of the E and W Villages if you are young and like partying, but the close proximity to the park is a bigger advantage imo.

jon_nyc

I think you'll be ok

bigrooster81

$1800 for a UES 1 bed???

I dunno if the recession has hit that hard, but good on you mate! I doubt I'll be that lucky!!