Current Events > If you had money, would you rent a 1 bedroom for $4,000/month?

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Vol2tex
01/07/20 12:08:16 PM
#1:


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Master_Bass
01/07/20 12:08:51 PM
#2:


No.
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cmiller4642
01/07/20 12:09:32 PM
#3:


I'd move if those were my living options at that price
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OfDustandBone
01/07/20 12:09:55 PM
#4:


Renting is throwing your money away.
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Kolibri X
01/07/20 12:10:07 PM
#5:


To dumb urbanites sure. Some would probably think it's a good deal.

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MysteryMan923
01/07/20 12:11:41 PM
#6:


Not even Manhattan? Nope.

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V-E-G-Y-
01/07/20 12:12:13 PM
#7:


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Unsugarized_Foo
01/07/20 12:12:27 PM
#8:


I like my acreage

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Vol2tex
01/07/20 12:18:44 PM
#9:


cmiller4642 posted...
I'd move if those were my living options at that price

Move where?

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MC_BatCommander
01/07/20 12:20:25 PM
#10:


Fuck no, what a waste

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Cocytus
01/07/20 12:20:25 PM
#11:


V-E-G-Y- posted...
No lol

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kingdrake2
01/07/20 12:20:56 PM
#12:


Master_Bass posted...
No.

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DrizztLink
01/07/20 12:21:26 PM
#13:


If I had money and this is the sort of financial decision I make I'm not gonna have money for very long.

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The-Apostle
01/07/20 12:22:41 PM
#14:


Hell no.

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ThanksUglyGod
01/07/20 12:23:02 PM
#15:


Yeah, looks like a nice place
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Questionmarktarius
01/07/20 12:24:19 PM
#16:


maybe on the moon
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ZevLoveDOOM
01/07/20 12:24:54 PM
#17:


unless i shat money like crazy, hell to the naw!
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RiKuToTheMiGhtY
01/07/20 12:26:28 PM
#18:


That is a huge waste of money, property tax for me is $2,000 for 1 year so $4,000 a month is highway robbery.

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Romulox28
01/07/20 12:29:46 PM
#19:


id just go to bed stuy and save like 1500 on rent

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Jagr_68
01/07/20 12:31:28 PM
#20:


Yes if I was a millionaire I would.

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Vol2tex
01/07/20 12:41:53 PM
#21:


Romulox28 posted...
id just go to bed stuy and save like 1500 on rent

Hehe

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DevsBro
01/07/20 12:43:28 PM
#22:


When I can own a 3 for $1300?

lolno

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FabIemaster
01/07/20 12:43:43 PM
#23:


Fuck no

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vigorm0rtis
01/07/20 12:46:13 PM
#24:


I like my house just fine.

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#25
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Sad_Face
01/07/20 1:37:23 PM
#26:


What kind of money? Money as in I never have to worry about again? Or money as in I can afford it, but I have to think to myself "is this really the best decision?" when if I lose my job there's a clear and definite timeline in how long I can stay without a job? If it's the latter, no thanks. When I was taking on a decent internship in NYC, I made sure to go for the cheapest room and took on an apartment with a bunch of roommates at under $600 a month. I have friends who went and got studios, subsidized by parents or student loans, for $2K. That's fraught, you gotta live within your means.

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Exeggcute
01/07/20 1:40:40 PM
#27:


Sure! I mean look at all those very attractive non-photoshopped people at the pool.

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emblem boy
01/07/20 1:41:27 PM
#28:


If I was loaded as fuck, and wanted to live in that location, sure
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Letron_James
01/07/20 1:41:59 PM
#29:


Sure

Then id sublease it for 5 grand

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Lorenzo_2003
01/07/20 1:42:28 PM
#30:


Vol2tex posted...
https://www.onesouthfirst.com/availability/one-bedroom/35j

Its a nice place, but I dont think its worth the price tag. Im sure the location, being what it is, makes it attractive to others.

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Vol2tex
01/07/20 1:59:08 PM
#31:


Sad_Face posted...
What kind of money? Money as in I never have to worry about again? Or money as in I can afford it, but I have to think to myself "is this really the best decision?" when if I lose my job there's a clear and definite timeline in how long I can stay without a job? If it's the latter, no thanks. When I was taking on a decent internship in NYC, I made sure to go for the cheapest room and took on an apartment with a bunch of roommates at under $600 a month. I have friends who went and got studios, subsidized by parents or student loans, for $2K. That's fraught, you gotta live within your means.

Would you do it if you had $1 million?

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#32
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#33
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#34
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Hexenherz
01/07/20 2:10:45 PM
#35:


Question:

$4080 * / month

*Net effective rate based on a Gross Rent of $4760. Water views abound from the floor-to-ceiling windows of this sun-flooded 1BR overlooking the East River and Manhattan Skyline.

What the hell is a "net effective rate"???

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SK8T3R215
01/07/20 2:11:34 PM
#36:


Hexenherz posted...
Question:

What the hell is a "net effective rate"???

Basically the first year rent because one month is free. Then next year it's that higher amount.

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zinezinzadan
01/07/20 2:14:41 PM
#37:


If I was a young, fresh college grad working in a sprawling manhattan industry where youre paid around $150,000 minimum in most career sectors, yes I would? Your only goal is to be close to work, be on time, and show work ethic so that you move up. Once you move up youll be making 500k+. But everyone has different goals, some invest in their future and understand what theyre working for, others make minimal money and they look for the cheapest possible avenue in life at every angle. Those usually stay poor forever.

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Irony
01/07/20 2:15:37 PM
#38:


If I could afford 4k a month rent I'd just buy a house

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zinezinzadan
01/07/20 2:18:29 PM
#39:


Irony posted...
If I could afford 4k a month rent I'd just buy a house
Those who can afford it typically work for big firms in manhattan and need to be close to work. They dont want to buy a house because they understand they might be making 500k-1million once they move to upper management positions of a strict firm. Time is important and you dont want to commute endless hours daily. With a stressful job, relaxation at home is key. Why buy a house with 4K a month if one day you could afford a multi million dollar home.

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philsov
01/07/20 2:22:04 PM
#40:


https://assets.nestiostatic.com/unit_photos/originals/459907f5f88cadb0b165517ecd48771b.jpg

It's the 35th floor of THAT building, with an amazing view.

Possibly, tbh. Otherwise it's at least $2k/mo anyways for a similar 1BR nearby in a lesser building. Or, I'm moving several miles away.
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Hexenherz
01/07/20 2:22:42 PM
#41:


SK8T3R215 posted...
Basically the first year rent because one month is free. Then next year it's that higher amount.
Well, that's nice. Every place I've ever lived gives a notice three months out saying, "If you stay here, here's what your new rates are going to be, dependent on length of lease signed." I mean, that's a $700 increase so that's absurd but still at least you can plan to find some place else maybe >_>

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DevsBro
01/07/20 2:45:53 PM
#42:


Vol2tex posted...
Would you do it if you had $1 million?
lmao are you kidding me

At $4k/mo you'll go through $1 million in a mere 21 years.

Suppose you could invest at 8%. Take out 4% for inflation and that's more than your interest.

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Awesome
01/07/20 2:57:28 PM
#43:


You need to make $160,000 a year to rent that place

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Vol2tex
01/07/20 4:05:19 PM
#44:


DevsBro posted...
lmao are you kidding me

At $4k/mo you'll go through $1 million in a mere 21 years.

Suppose you could invest at 8%. Take out 4% for inflation and that's more than your interest.

You would still be making money through you salary. Also, you don't have to live there forever.

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Sad_Face
01/07/20 4:41:57 PM
#45:


Vol2tex posted...
Would you do it if you had $1 million?
$1 milli is a 50K salary (after taxes for the sticklers) for 20 years. $4K a month is $48K a year. Either I give myself a raise or I find a cheaper place. In either case, I can see the tunnel in the distance of the light of freedom, so I'd rather figure out how to invest it. Now if I had a milli and also passive income that would pay for the apartment... still no. I'd rather figure out how to invest my money to buy it or a comparable place outright.

But looking at the photos, I can see why it's so alluring to you. I have a friend who, with a couple roommates, is collectively paying 4K a month for an apartment right over by Times Square. It was AWESOME staying over there for a night. The one room I borrowed for a night (they were in between roommates) was so spacious and a nice view of... more buildings, but you could see some Lights from the square and the windows were BIG.

Thinking about it more, if I had passive income in addition to the mega lump sum, then I wouldn't mind wasting 50K for a year or so... Maybe. It depends on the opportunities that the apartment opens up to me. If it's connections to insider information or whatever rich secret clubs, then sign me up. But just a place by itself, then I'd rather look for a cheaper place.

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I Like Toast
01/07/20 4:46:23 PM
#46:


I was going to say no, then I saw they have a pet grooming station and now it's a steal

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Fuparulez
01/07/20 4:50:38 PM
#47:


That view with laundry in the unit, good price.

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MC_BatCommander
01/07/20 5:01:56 PM
#48:


I Like Toast posted...
I was going to say no, then I saw they have a pet grooming station and now it's a steal

Not gonna lie that's pretty tempting

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KINDERFELD
01/07/20 5:04:05 PM
#49:


Yes.
Until you've lived in NYC you won't understand how important location can be.

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YonicBoom
01/07/20 6:03:14 PM
#50:


I wish I was in any kind of position to understand what such a life is like.


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