Upper East Side, bank statements, and other questions (York: apartments, lease)

[anha]

Hi all,
Looking for your opinions on the Upper East Side.

Some background: I'm 24/f, making between $55-65 including bonus and living on the LES. I pay very little for rent in a 2br. However, when our lease is up in November we expect rent to increase at least 10% since it's currently below market. And yes, we would try to negotiate. Hard.

I would ideally like to move into a studio and remain in Manhattan, since nearly all of my friends live in the West Village and living in Astoria or an affordable part of Brooklyn would make weekends pretty tough (my office is by Grand Central, so less of an issue). I'm expecting a small raise in Jan. but do not expect my base to be more than $60k at the absolute maximum (I know I know poverty level please don't go there), which means I'd like to cap rent at $1500. That pretty much leaves the Upper East Side.

My questions are:

1) For those in their 20's/early 30's, honestly, how is it living up there? I don't need a scene by any means, but it would be an added bonus to live near others my age.

2) Is the 456 reliable at all times, or will I get frequently stranded?

3) This will be my first time signing a lease on my own with no guarantor. What should I expect? My credit rating is >730 and I should meet the 40x rule on the lower end of apartments, but I have very little liquid cash in the bank and my bank statements will reflect that. Is that a major problem?

4) How will the market change in Nov. from what I'm seeing now?

And finally,

5) What do you GET for your money up there? Right now I'm in a pretty depressing situation with lot line windows and 4th floor walk up, so wondering if I can expect an upgrade even on a tight budget.

Thanks in advance!

[crescent22]

I don't know what the Upper East did to become uncool other than not be near other hotspots, but I think it's fine - it has bars and restaurants and there are plenty of people from York to 3rd in the 70s and 80s that are your age there who moved there for the value and relative comfort. 2nd Avenue in the upper 70s is the entertainment hotspot but it's bars and restaurants rather than nightclubs and lounges.

UES is cheaper than many neighborhoods but I don't think it's cheaper than the LES- you won't get a good studio for $1500- it will still be in a walk-up and if it isn't, then it will be on York and be a far walk to the subway.

4/5/6 train are reliable, just crowded. They run very often; at rush hours they max it. You will be fine if you only go to Grand Central.

[likeminas]

at 1500 you'd be looking at a room, not a studio.


If you were considering the outter boros this would be doable.
Heck, you could even get a nice 1br in Astoria or Sunnyside, which would take you in less than 20 mins to Grand Central.

But I know, I know. Don't tell me.
You guys think it's so uncool to live outside Manhattan. Even if that means spending more than half of your salary in rent and living in a crappy shoebox.

[Kefir King]

Between First and Second Ave between 86th and 96th you should have no trouble getting a decent studio not much more than $1500.
But you will likely not get an elevator.

Walk the streets, ring supers' bells, and get names of the realty companies from the plaques outside.

[UES Single Mom]

SWM: S.W. MANAGEMENT=

No fee apartments and they include all utilties in the rent (heat, hw, gas and eletric) so you might be able to afford a little bit more than $1500 if you take that into consideration.

I currently live in one of these apartments and really haven't had any complains other than the walk to the train but then again it's not so bad. Has a package room, on call super etc..

[anha]

Thanks for the suggestions, and I'll look into your management company. And no worries, I'm fine with no elevator.

Originally Posted by likeminas

at 1500 you'd be looking at a room, not a studio.


If you were considering the outter boros this would be doable.
Heck, you could even get a nice 1br in Astoria or Sunnyside, which would take you in less than 20 mins to Grand Central.

But I know, I know. Don't tell me.
You guys think it's so uncool to live outside Manhattan. Even if that means spending more than half of your salary in rent and living in a crappy shoebox.

This isn't a matter of "cool" vs. "uncool". I actually have lived in Astoria for a year at the end of the NQ... I found myself stranded frequently when trains were down and/or paying $45 cab fares to get home on weekends. As far as the commute to GC, it's only convenient when the 7 is running normally - which, from experience, is not as often as I would need it to be.

And I pay less than a third of my salary on rent, which I understand is pretty typical.

[crescent22]

Then youll like living on the 6. Seriously, its a little annoying to wait over 2 min for a train, rush hr of course.

[dad_the_inhaler]

I used to be in my 20s and 30s living in the Upper East Side anyway. I used to work at the various Pfizer buildings in the 40s between 2nd and 3rd and it would take me around 45 minutes to get there (from East End Ave.) whether I walked, took the bus or took the train. The fastest way was by bike. Most of the time I'd just take the 2nd ave local bus down since I could usually get a seat.

My old bandmate would joke that it's the suburbs of Manhattan, which is pretty true. It's quiet and safe and not much happening but it's not deserted at night or anything like that. Lots of kids around these days.

I never got totally stranded on the 4/5/6 but service can be painfully slow late at night when they take one or the other tracks out of service for maintenance.

I can't address the financial or availability stuff since I've been in the same apartment for so long and haven't had to deal with it.

[yee8p]

4/5/6 is the most heavily used line in the entire system. Which means MTA won't shut it down entirely, because that will make WAY too many people unhappy. That doesn't mean there isn't service changes, but they try to be pretty quick about it. I don't think they ever shut down both the local and the express track at the same time.

So, if train reliability is your biggest concern, I wouldn't worry about it.

However, at your budget, you'll likely have a hike to get to the trains.

As for fun, there are plenty of restaurants and bars in the neighborhood. Your biggest problem may be to get your friends to come uptown to go to you. I'm early 30s

Average studio rent is $1918. So, I wouldn't expect too much of an apartment upgrade.

Btw, I totally agree with crescent22. I'm so totally spoiled by the 6. Any wait beyond 2 minutes are just plain outrages! (on the flip side, I also redefined the word "personal space"...)

[UES Single Mom]

Originally Posted by dad_the_inhaler

I used to be in my 20s and 30s living in the Upper East Side anyway. I used to work at the various Pfizer buildings in the 40s between 2nd and 3rd and it would take me around 45 minutes to get there (from East End Ave.) whether I walked, took the bus or took the train. The fastest way was by bike. Most of the time I'd just take the 2nd ave local bus down since I could usually get a seat.

My old bandmate would joke that it's the suburbs of Manhattan, which is pretty true. It's quiet and safe and not much happening but it's not deserted at night or anything like that. Lots of kids around these days.

I never got totally stranded on the 4/5/6 but service can be painfully slow late at night when they take one or the other tracks out of service for maintenance.

I can't address the financial or availability stuff since I've been in the same apartment for so long and haven't had to deal with it.

The stinks with your former commute. From walking from York Avenue to the 6 train and switching to the 4 or 5 at grand central down to wall street takes me about 45 mins door to door. Of course if the trains are delayed, etc then its about an hr. The bus service isn't that bad up here either.