Quote:
Originally Posted by Hamilton
Note that this building is pretty close to Google's NYC headquarters. Your typical person in finance or working at a tech company in NYC is making $80,000-130,000 out of college. These kids take a one-bedroom, add a temporary wall in the living room, and voila, you have a two bedroom. At that salary range, $2,000 a month isn't so bad.
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Maybe, but those temporary walls aren't usually allowed in nicer buildings, though. I doubt Avalon would allow it considering the rental demand for new construction.
And fancy developers tend to require 50x gross. That means minimum 200k for a $4,000 one bedroom. Folks starting in finance and tech don't have those kinds of base salaries (though they do in finance following bonus, but that's irrelevent for income qualification).
Just based on the people I know, folks just out of college aren't really looking in places like Chelsea. You find them in Williamsburg, South Slope, Astoria LIC, Hoboken, JC, Harlem, far East Village/LES, etc. Even if they're earning six figures, they want to be in a younger neighborhood. Though maybe I'm just out of the loop.