Hunting The Great White New York Apartment

Choose Your Borough

Manhattan

Living in Manhattan can be anyone’s dream. Who wouldn’t want to live with a 212 area code? Manhattan is still the city that Woody Allen, Spider-Man, and Gershwin canonized. Of course, the cost of living has risen to almost unrealistic means in the past two decades. If you can actually find a one bedroom at $2000 a month or under, that is a steal. But then again, if you don’t mind roommates, then it’s still the place to call home. The culture, the people, the subways! Hey, it’s Manhattan.

Brooklyn

Brooklyn is known as the “neighborhood borough,” a place where the rent is cheap, the food is rich, and you can hear yourself think. That isn’t to say that the BK isn’t safe from gentrification’s iron fist either. Though the recent surges in real estate and eminant domain have been welcomed with both praise and controversy, Brooklyn is still the borough where you can get a bagel, a cup of coffee, and chat up your neighbor. Not as hectic as Manhattan, but just as energetic.

Queens

Queens has become Brooklyn’s main outer boroughs challenger for new urbanites. Mostly because of two key neighborhoods: Long Island City and Astoria. LIC is still a working-class industrial neighborhood where you can find an affordable loft apartment. Astoria is known for its quaint suburban feel with nightlife and restaurants that have sprung up in the last decade. The clincher? Both are less than 15 minutes outside of Manhattan. Queens has its charm, but it also is beginning to see the rent spike, too. Traditionally known for affordability, Astoria price are beginning to break the $1000 a month ceiling.

The Bronx

It’s not the South Bronx anymore, now it’s SoBro. Yuppies will redub neighborhoods anything to make themselves feel better. Cheap rent, the new Yankee Stadium, and a refurbished Grand Concourse have given many New Yorkers much to consider about moving uptown. SoBro (ugh) has become increasingly popular among renters, especially artists, who claim that the neighborhood’s gritty, communal feel is reminiscent of the East Village in the 1970s. The trade-off here is the same: the area is still developing, but cafes and art galleries are steadily opening. All in the shadow of baseball’s Evil Empire.

Staten Island

The fifth borough is also the quietest of the entire city. Beyond the dock for the Staten Island Ferry is a suburban existence that looks more like New Jersey than New York City. Many may wonder what would seem so appealing. The rent is cheap, the neighborhoods are quiet, and a surprising amount of older artists and hipsters are moving into the north end of the island. Sure, it’s not exactly the New York you may have hoped for, but it’s also hard to argue against rent prices that look more like 1998 than 2008.

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Be Realistic

You know all those amazing New York apartments you see on Friends? That’s Hollywood, my friend. If any sitcom or movie apartment in New York were real, you’d be paying close to seven figures to live there. Space is something of a luxury in New York City, so be moderate and be flexible – remember, you could be sharing this space with another person. Do yourself a favor and pack light when you first get here. Finding an apartment could take a while and my guess is there’s only so many couches you can crash on. Once you’re settled in, ask yourself what you’ll need and not need. Most first time tenants have to sign a one year lease, a lot happens between now and then.

Finding Home

Scoring A Roommate

So you’ve decided to throw yourself upon the mercy of fate and seek out a roommate? Good luck, dear soldier. You’ve got quite a task ahead of you. Finding a roommate in this city is even tougher than finding a landlord, I think. For one, it’s not only your reputation, but also the reputation of the other guy to the landlord that’s on the line. Second, you will find yourself walking into a domain that may not rightfully be yours for a while (depending on how things go). That said, it’s not impossible to find an awesome roommate or even one you can simply tolerate. Just be prepared, be punctual, and have your paperwork ready: deposit, references, pay stubs, credit report, etc. Diligence always pays off in this town.

Rent vs. Buy

Can you actually afford to buy in New York City? If so, more power to you. Buying property in New York can be a great milestone. Plus, the tax write-off is always a welcome reward come every April. But buying and rent are two different commitments. First, are you financially stable enough? Second, can you get past a co-op board? Third, are you prepared to an active member in your building’s community? All of these are factors that come into buying. If you’re not 100% sure, you may want to renew that lease.