I Am Thinking of Purchasing a Pied a Terre in NYC - Need Help Figuring Something Out (room, cost)
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It looks like you will be furnishing your new place from a distance. May I suggest -- assuming you don't already have -- an Amazon Prime membership? For $100/year you can have everything delivered free right to your doorstep! Beats running all over town to find furnishings, sheets, towels, dishes, etc. I would do this before hitting thrift shops. You can get some great deals there, I shop thrifts frequently. However, you don't have the items you need when you need them, its more a hit-or-miss, and you must provide delivery.
Once you have the basics set up, then shop thrifts for accessories, etc.
Coop boards also worry that if you run in to financial worries you will stop paying on the second home first. You are correct that they also don’t want you lending the apartment to family and friends as they don’t want strangers in the hallways, even nice strangers. I have heard a request for one years maintenance up front for this concern.
If it were me, I’d rent. There’s some good rental deals right now with all the new buildings and studios are the least desirable.
The thing about renting is wasting the money that I won't be able to recoup in any way.
A $3k rental = $42k per year - that's a lot of money to just throw away.
It looks like you will be furnishing your new place from a distance. May I suggest -- assuming you don't already have -- an Amazon Prime membership? For $100/year you can have everything delivered free right to your doorstep! Beats running all over town to find furnishings, sheets, towels, dishes, etc. I would do this before hitting thrift shops. You can get some great deals there, I shop thrifts frequently. However, you don't have the items you need when you need them, its more a hit-or-miss, and you must provide delivery.
Once you have the basics set up, then shop thrifts for accessories, etc.
Thank you.
I still have to learn how NYC buildings handle deliveries . . . if you are not there, what happens to your stuff?
And does Amazon deliver directly to your apartment, or just to the building? Do they leave packages in the hallways? I have a lot to learn about living in a building.
If your building has a doorman, he will most likely accept and hold a package for you. Amazon has this new thing called Locker - actual lockers at some location nearby - where you can have your package shipped. They will hold it there for three days. I don't know if they have them in Manhattan yet, but you can check online by searching "Amazon Locker" and then checking for locations.
By the way, I don't know what your situation or preferences are, but I just wanted to recommend some neighborhoods right over the 59th Street bridge on the Queens side. Sunnyside, Long Island City (not to be confused with Long Island proper), Astoria and a few other neighborhoods a little farther up Queens Boulevard get you into midtown Manhattan quickly. It's something to consider/explore if you find yourself needing to expand your choices.
I had a lot of friends who worked on Wall Street and did the same thing. We entertained a lot a traveling back home to get up for work the next day got to be a hassle. So they bought an apartment and went home weekends. Sounded like a great idea on paper. The taxes and costs on the buildings went up and up and before you know it they had apartments that were not only pricey but difficult to sell. Yes, there is indeed a person looking for a cheap PAT all the time, however, there are more buildings being taken over by developers than ever before and that is driving the market. You would be far better off to get an apartment in Queens and commute a few minutes. Long Island City is gorgeous and booming right now, but they are also with nice price tags.
Co-ops are notoriously difficult to sell. Another poster mentioned the difficulty and unique horror (that's the only thing that comes to mind) of NYC co-op boards. Even if money is totally not an issue for the OP, you can be turned down by a co-op board.
I know someone who offered full price for a co-op in the East Village and was initially turned down because he was a Rock musician. This was in the East Village. He finally got the apartment but he went through hell first.
I second a place in Queens. There are many diverse neighborhoods. Brooklyn would be another option.
I'm originally from Long Island, and if you like ocean beaches, you will enjoy it. My main issue with LI is getting into "the city". It can be a major PITA.
Very easy. It has a built-in pump with a plug tucked inside a little compartment on the side of the bed. Just plug it in to an outlet, and it inflates in a few minutes.
If the OP would have a chance to pre-arrange an account with the electric company and the electricity is available on the day of the arrival from the airport...
If the OP would have a chance to pre-arrange an account with the electric company and the electricity is available on the day of the arrival from the airport...
Errr, a lot of people in NYC don't even cook! I recall my sister, as a young professional living in Manhattan, never had more than a bottle of seltzer in her fridge. Lots of take-out. You shouldn't have to stay even a single night in a hotel.
I have a friend in Queens who takes the elevated subway into Manhattan each day to work. She doesn’t even own a car and hasn’t for years. I’ve gone with her and the commute is quite efficient.
Regarding a bed, one of these bed-in-a-box companies will ship right to your door. Often these beds need a solid foundation. The floor would work for a while.
I don't know anything about resale or maintenance costs, but we once stayed there for a few nights. It was just lovely. Great location, right near Lincoln Center. Beautifully furnished, and the service was outstanding.
Just another option that might be worth considering, since you don't plan to be in town year-round.
Last edited by Pocopsonite; 10-06-2019 at 10:37 PM..
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