Showing posts with label manhattan. Show all posts
Showing posts with label manhattan. Show all posts

Tuesday, November 25, 2008

New Perspective: Small Apartment Insecurity & Entertaining

This photo ("borrowed" from NYT.com) of NY Times food writer Mark Bittman in his home kitchen made my day. As one of countless Manhattanites who suffer from what I like to call "small apartment insecurity," I thought here's one of us! And he's not ashamed to show the world he's got a small one...kitchen, that is.

I particular loved the discussion that this photo generated on the NYT site. Some were surprised that such a venerable food expert would be cooking in such a small, low on frills kitchen, but other astute commenters reasoned that the people with lavish kitchens are the very ones who order in all the time.

City Guy and I hardly ever entertain in our 555 square feet (68 of that a nice-sized kitchen) studio apartment and we never have overnight guests. That's more space than a lot of people in NYC have (and we have lovely high ceilings!), and it's all we need for the two of us. When I moved in with City Guy a year and a half ago, I thought we'd end up killing each other living in a studio, but now I think when we get around to buying our 1 or 2 bedroom condo, I'm going to miss the intimacy of always being in the same room as my husband. It's also easy to keep neat and clean, and we like that manageability.

That said, when it comes to having people over, "When we move..." is my mantra. When we move, I'll have dinner parties. When we move, my mother-in-law can visit. When we move, my friends will drop in at all hours.

Maybe Manhattan's thriving food culture is fed by legions of people just like us, who'd rather meet up with friends at a restaurant than invite people over to their little apartments?

The NY Times also had another great article about how couples are choosing to raise their kids in smaller apartments, just so they can stay in Manhattan. I completely relate to this love of Manhattan. The lure of more square footage is strong, to be sure, but I can also see making do in Manhattan at least until our kids (just theoretical at this point) reach an age when they need their privacy. It's an interesting dilemma, one that my friends in California just can't relate to--i.e., we live in an apartment the size of most of their guest houses.

The truth is I love that in NYC people do with smaller and less. In the "green" revolution, the rest of the world should be taking a cue from us. We use less electricity, take up less space, have a smaller impact on the environment.

So why such shame? Because more square footage and designer furniture signals money and status? Because in the rest of the country, living in 555 square feet seems down right third-world. Sure, but shouldn't I trust my friends to like me for me, not the size of my apartment?

Which is why I took a big step on Monday. I invited Funny Dude (I've known for almost ten years now, he's been to our place before, and he lives in a small apartment himself --figured he'd be most forgiving) over and cooked dinner for him. I cook for City Guy almost every night, but somehow cooking for someone else really made me nervous. I planned the meal in advance, shopped for ingredients and stressed about the preparation. The food didn't turn out as tasty as I had hoped, and it was an hour late getting to the table, but it was nice to have someone over, and I hope he'll forgive me for being such a disastrous hostess. It was my first time. No shame in that, right?

The upshot is it felt good. It's a small step on my road to recovery, and I hope I'm brave enough to keep do it again.

P.S. If you are suffering from "small apartment insecurity," the entries in Apartment Therapy's annual Small Cool Apartment Contest will inspire you. All entries are under 850 square feet.

Monday, June 16, 2008

Real Estate: Open House Post-Mortem

Yesterday afternoon, City Guy and I spent four hours traipsing around in the hot, humid weather to visit SEVEN buildings in the FiDi. Fun, but exhausting. I have mixed feelings about buying after all this. Things I've learned:
  • It's going to be hard to get everything we want. We'd ideally want a 2 bedroom or 1 bedroom with home office (that we could convert into a nursery down the road), but even in this market, we're looking at a million (maybe $800-900K if we're willing to give up certain things, like location or amenities).
  • Based on running the numbers in a handy dandy mortgage calculator, based on what we're paying for rent right now between the two of us (on the low side), buying doesn't make financial sense, even with the tax savings. However, the minute we compare the cost of renting a two-bedroom to the cost of buying a $850K place, for instance, we can justify the expense.
  • I feel poor. When you go to these open houses, you see the same faces over and over...there are a lot of bankers with a lot of money still buying in this market and they don't seem to blink at the prices.
  • We're going to start considering Brooklyn. The Williamsburg waterfront developments, for instance, would satisfy my jonesing for a water-view and the units are bigger for the money. Check out The Edge.
  • Even with the glut of condos in the area, developers are planning even more. 50 West St is scheduled to open in June 2010, for example.
  • There's no rush. Like with everything else in life, I must be patient.
  • If we buy, we might have to stay in NYC for the next 5 to 7 years.
  • We need a good mortgage broker.
  • We need a good real estate attorney.
  • NYC real estate is no joke.
Real estate is vexingly on my brain. I've already scheduled three appointments for next weekend. We're going to check out The Edge, Northside Piers and the beautiful green condo development in Battery Park City, Visionaire. Wish us luck!

Saturday, June 14, 2008

Real Estate: Condo Search 101

As I mentioned before, City Guy and I are new to the NYC condo market, and it's my job as the one with the more flexible hours and the greater background in real estate (my family) to do the homework.

Today, I took advantage of this stormy weather to stay indoors and get organized. I spent forever on Street Easy, looking up condos in the FiDi (Financial District for you newbies), and just by looking through all the listings and the new development listings, I feel confident that I now know all the major condo developments with available units in our price range--about 25 in all. I made a spreadsheet! I know--pretty nerdy--but I love Excel for organizing my life!

Tomorrow, we're going to try and hit up 5 or 6 open houses. Should be fun.

Other steps we've recently taken to get organized:
  1. The other day, City Guy and I made a "condo wishlist" which I think was another good way to figure out our baseline expectations as a couple for our new home. It was good to know we were on the same page.
  2. We figured out our money situation, which means now I know what to look for in terms of price, common charges and taxes.
  3. We ruled out Battery Park City, which I've loved from afar for a while. I just love the waterfront and all those "green" buildings! But the common charges and taxes are ridiculous - almost $2000/month sometimes and I'd happily walk a few blocks to get to water if it means saving a chunk of change.
  4. We agreed that our first choice in neighborhoods is FiDi. Both of us have lived in this area for many years. We've seen it evolve and we believe there's great growth potential in the next 5-7 years. I found out today that living in FiDi, our future kids would have a great school district - PS 234--and we'd be close to the waterfront parks, which I would take over Central Park any day. Plus, we believe it's our best bet for finding a place for less than $1000/square foot downtown.
  5. We're giving ourselves a 6 month to 1 year time frame for purchase. That gives us time to really do our homework.
  6. If we don't find a place in Manhattan, we'll start looking in Brooklyn. Williamsburg has some very nice waterfront developments, though they're a hike from the nearest subway stop. Brooklyn Heights is also very nice.
  7. I got a little folder to keep all my floor plans, info sheets and other real estate stuff in one place
Oh, and I found a couple more condo resources (in addition to the ones I listed before):
Hope it doesn't rain tomorrow so I can see how the light streams into those southern exposure units!