Retire to NYC - am I crazy? (New York, York: section 8, apartment)

[baylovers]

I say go for it!! Especially if that is what you really want.

I know Peter Cooper Village & Stuyvesant Town have gone private... can anyone tell me what those apartments are going for? I remember there used to be a long waiting list to even get considered. it may be just what this fellow is looking for.

[Lakewooder]

I have often fantasized about this! However I would rather have a pied-a-terre rather than moving there permanently. Good luck to you. I like the third property listing - better location with terrace. Seems too good to be true - must be something wrong.

What do I know, though - I live in Dallas and only get to NYC 2-3 times per year.

[Viralmd]

First, do you have any idea of how tiny 600 or so square feet really is? IT'S MINUTE! Second, that rooftop apartment will BROIL in the summer - as a 1950-built building it won't have A/C and as a post-war building it's less desirable. It's in the Grammercy neighborhood, but it's not on the Park. And only a FEW pre-war buildings on Grammercy Park actually have apartments that come with keys to the Park. Believe me, those are in the high six figures, even for a one bedroom.

But, if that's what you want, have a go.

[Jason_Els]

The first listing is way away from the subway. The east side has poor subway service and the train runs along Lexington Avenue. The walk to the subway from that apartment is at least 4 blocks, all uphill. Plus it's REALLY small.

Supposedly there's a subway line going to be constructed for Second Avenue, but then NASA is planning to send people to Mars.

The second listing is in area that is up-and-coming but still very much part of Spanish Harlem and may be a bit dicey. Harlem starts at 97th Street on the east side.

The third listing... it depends. If it's just rennovated you have to hope they did some insulation and put in some serious a/c. Its main problem is the lack of privacy. You will want to entertain on the terrace and while most New Yorkers are used to parties spilling over into their bedrooms, you may not like that. That bed has no room at all, not even room for nightstands. You will likely want to enclose that so-called mezzanine.

None of these have a lot of closet space. Take note of how much stuff you have or want to, at least, keep.

Don't take all this negative criticism personally. It's a New York thing to critique real estate listings as reading them is a common passtime even if you're not looking to buy.

[jvinc]

I don't want to come off sounding too negative, but moving from a house to an apartment (condo, co-op or otherwise) will in itself be a major culture-shock- regardless of what city you're moving to! Issues of storage, square footage, etc. - major, major changes. But you can get used to it if you try - just downsize like crazy.

Too bad you don't want to move to Queens - I want to leave NY and want to get rid of my apt - but I can understand that NYC (Manhattan) has its own particular appeal.

One thing to adjust to will be the noise level - I never gave it a second thought, until my brothers (both of whom left NYC permanently many years ago) came back to visit. When they stayed with me, they complained constantly about hearing the neighbors or the outside noises (conversation, babies crying, police sirens, etc.) which I had long since learned to "tune out." BTW, I live in a nice neighborhood in Queens, so it's not like you hear police and ambulances constantly. But even so, they were talking about how noisy it was, and how hard it was to sleep. I don't know if you will have the same issues with noise, just something to think about and adjust to, since it is a big city, after all.

NYC is super-expensive - but if you can afford it, it could be a great (maybe even the best) place to live. On another note - I know you said you weren't interested in the outer boroughs - but someone at my firm has a large, fantastic apartment (house-size at 1500+ square feet) in the Bronx (Riverdale) which has spectacular views, a balcony, and is within a 1/2 hour of the City and in a full-service building (with a pool/jacuzzi, and a gym for residents) and he is really happy with it. You don't necessarily have to live right in Manhattan to enjoy NYC and get the best of both worlds, I suppose.

Of course, shop around and visit - but keep in mind that some neighborhoods just over the water from Manhattan (in the Bronx, Brooklyn or New Jersey) could just possibly have what you're looking for.

[Jason_Els]

New Jersey??

For 20 years my cousin has lived in New Jersey and he STILL refuses to get NJ plates for his car.

This is the MTA map. The subway system map for Manhattan et al. You will need to learn it and look for someplace close to a station.

[Off Topic]

Thanks again - looking at those listings was just a fun thing to do since none of them will be there when I retire. But it's an interesting exercise and I appreciate the comments about the neighborhoods.

There are just two of us, and we basically live in just three rooms anyway - the kitchen, the front room and the bedroom. We never (and I mean never) use our dining room or the spare bedroom. But you guys are correct about the culture shock.

I now think our plan of accumulating a month of vacation and staying in NYC for a full month is even a better idea that I originally thought. It will help us to see if we can adjust to a small place with neighbors and noise.

I also like Lakewooder's idea of a more inexpensive pied-a-terre. Maybe we could swing a small place in the country and then just visit for one month a year. I actually have numerous friends and relatives that may be interested in doing the same thing, so perhaps we could go in together and split time. Hmmmmm.

[Viralmd]

If you decide to go with a pied-a-terre, you'll HAVE to go to a condominium. Co-ops don't permit the kind of arrangement you describe.

[ManBearPig]

NYC is very expensive to live, unless you got a good job or find a good deal somewhere. The Weather here is great. We get cold (sometimes mild) winters and Hot and Humid Summers. The Summers in NYC can be, at times, unbearable. Right now we getting beautiful weather (low to upper 70s), and should stay like that for a couple days (tomorrow expecting to reach the 80s). We do get hurricanes, Nor'Easters, etc, but they are rare. Summers here in NYC is sometimes full with ThurderStorms.

For most part, the people are nice in NYC. Yes there are many rude people in NYC, but that's common everywhere I guess.

[Joe L]

Originally Posted by Off Topic

We will net out about $450,000 from the sale of our home and according to the realtor web sites, that would get us a plain but nice one-bedroom condo in NYC

Where 161 St Wasington Heights with 1 kitchen window facing a brick wall ?
Need 1 Million and up for any place decent!

The Mayor does not want any middle class or less living in the city, pushed them all out to Queens. NYC is not what it was in perhaps 1985. You better rent or visit and take a good look.
Real native New Yorkers no longer make up the city.

If your thinking about Queens take a ride on the 7 train and see its future. I grew up in Queens and I can not stomach what most of the new batch 3rd world immigrants have done to it.