A NORC in New York; aka Lincoln Towers (UWS) (West End: apartment, rent)

[Wallop the Spot]

In my search for a retirement community, I happened upon the term “NORC” – naturally occurring retirement community. Upon further investigation, I learned that Lincoln Towers on the Upper West Side (approx. 160 West End Ave.) is a NORC, meaning that so many of its residents “age in place” that a disproportionate share of them are senior citizens. Because of the many senior citizens at Lincoln Towers, the community seems to provide a lot of social services tailored to the elderly.

I would never have considered Manhattan as a place to retire, but this has me wondering. I want to retire to a place where I can ditch the car and walk “everywhere” – grocery shopping, concerts, bookstores, library, theater, parks, etc. It looks like Lincoln Towers is but a stone’s throw from Juilliard/Lincoln Center, a branch of the NYPL, abundant public transportation, and a lot of other interesting (to me) places.

So I ask you: Imagine yourself to be age 65+ (unless you are already 65+ and don’t have to imagine). Aside from the issue of cost of housing, would you want to live in the vicinity of West End Avenue and West 66th Street? What are the factors that cause you to answer “Yes” or “No”? Thanks.

[BBMW]

If you're in a situation to either have the money to do it and/or be able to fix your expenses (mostly housing) so that they do go up much, or both, NYC can be a good place to retire.

I have a feeling that a lot of the people in Lincoln towers bought their units decades ago, and have paid off their personal mortgages. Maintenance goes up, but not as much as rent (especially market rate rents), so they probably have relatively low housing costs compared to other Manhattanites, so they just stay where they are.

[Kefir King]

NYC is a superb place to retire and for music lovers, you would be hard pressed to find better than Lincoln Towers, but your housing is EXPENSIVE.

I am retired in Manhattan and could consider no better place. The older you get the more you appreciate the ability to toss the car, the access to a million doctors and dozens of hospitals, entertainment for a $1.35 subway ride and the ability to have everyone you have ever met to be happy to visit you (as opposed to visiting Bumfuque Iowa.)

If you can afford to buy into Lincoln Towers, do so.
Other than the preposterous cost of housing, New York can be a bargain.
And where else can one walk to Lincoln Center in 10 minutes?

And remember, very few people have even been screwed by buying a New York apartment.

[jd10025]

Yes, UWS greatest and most convenient neighborhood in the world. No - can be expensive to live, especially at LT. Maintenance is high. Amenities in the neighborhood can be expensive, but you can find bargains. Traders Joe's for example.