Soho Loft Studio

Discussion in 'Community' started by asif786, Sep 10, 2004.

  1. asif786 macrumors 65816

    asif786

    Joined:
    Jun 17, 2004
    Location:
    London, UK.
    #1
    Hi Guys,

    I am currently a freelance designer, and I'm planning to move to NYC next year to start up my design company. I have been saving up for the past year or so [not spending any money that i get from designing] and I have managed to raise around £20,000 [$35,000] and I hope to have around $40,000 when it comes to moving there.

    Now, Ideally I would like to get a place in soho to work from. I want a nice, bright, trendy loft. I would spend around $1,000/mo for around a year or two doing it up - and furnishing it. So, while I'll still be decorating it in a classy way ($24,000!) it will be done in stages so I wont run out of cash. I suppose I'm gonna have to live in the studio for a couple of years cos there's no way I can pay for the loft and an apartment.. :-/

    Anyway, if there are any real estate agents or anything on MR, please can you let me know what sort of rent I'll be looking at? Some pointers:

    * It'll need to be around 2000sq.ft Or maybe 1500sq.ft
    *It MUST have one bedroom and two bathrooms (one bathroom for my personal use - ensuite, and one for other people that will eventually work in the studio)
    *I like Prince St / Mercer St. They seem cool. Not sure of the rent prices around there.

    I think that's about it. It must NOT be furnished, I want to pick it myself.

    Also, what are landlords like about decorating? I want to put up halogen spotlights and things like that - will it be a problem?

    I know it's a big request, but if you guys could just spare some time to give me some rough figures that would be great - so I can half plan my finances and see how much I need to raise..

    Thanks in advance for your help,

    Asif
     
  2. Abstract macrumors Penryn

    Abstract

    Joined:
    Dec 27, 2002
    Location:
    Location Location Location
    #2
    1500 to 2000 sq ft in a good area sounds like it'll be heaps expensive.
     
  3. Hoef macrumors 6502a

    Hoef

    Joined:
    Jul 11, 2004
    Location:
    Houston, TX..... (keep walking)
    #3
    You must be joking .... No offense, but $3k/mo is more likely unless you want to have 2 roommates. A friend of mine just moved to Chelsea and pays $4.5K/mo. Though it is a 1.5 Bed/bath.
     
  4. asif786 thread starter macrumors 65816

    asif786

    Joined:
    Jun 17, 2004
    Location:
    London, UK.
    #4

    hi there - when i said $1k/mo, i meant thats what im going to be spending on decorating the place.

    im completely open to rent prices = even $5k/mo is not too bad, because I will have enough money to to survive for 5 months [at least] and I am sure I will be able to get at least $1-2k/mo in earnings within a couple of months to cover my ass.

    if the rent is a lot then i can just spend less money every month on decorating - theres no rush to decorate.but i know that decorating wont come cheap.

    So if some realtors could tell me, what should I be looking at? $5k/mo? $4k/mo?

    thanks.
     
  5. jrv3034 macrumors 6502a

    Joined:
    Oct 23, 2002
    #5
    Hmm, I'm not a realtor, but I do live in NYC. I can tell you that SoHo is, along with 5th Avenue, probably the most expensive area to rent from. This is where all the super-high-end designer stores, antique stores, boutiques, etc. reside. Heck, even the Apple Store picked Soho because it's the trendiest place in the city. And I think the corner of Prince and Mercer is right where the Apple Store is located!

    To give you some perspective: I live in the Midtown area, west 50's and 10th Avenue, and my rent is $1300 a month for a STUDIO apartment. No separate bedroom. Adding a bedroom would have jacked-up the price significantly.

    I'm not saying it can't be done... It just seems highly unlikely. I used Manhattan Apartments Realty when looking for my place. They were very professional and friendly. I highly recommend them.

    Good luck with the search!
     
  6. e-coli macrumors 68000

    e-coli

    Joined:
    Jul 27, 2002
    #6
    Good luck finding a loft like you described in SoHo. It's nearly impossible.

    Check the obituaries. And I'm not joking.
     
  7. asif786 thread starter macrumors 65816

    asif786

    Joined:
    Jun 17, 2004
    Location:
    London, UK.
    #7
    http://www.theloftbroker.com/lofts/153mercer/index.html

    I really love that one - its $8,500/mo and it has 2 bedrooms and a kitchen also, which I dont need. It's location is supreme.

    It's 2200sq.ft so I should be able to get one in the same area for $5/mo without the extra bedroom and kitchen, right?

    I think I'll have to book a flight to NYC for a couple of days t take a look.

    Thanks
    Asif
     
  8. Abstract macrumors Penryn

    Abstract

    Joined:
    Dec 27, 2002
    Location:
    Location Location Location
    #8
    Maybe you have a godmother or someone who has a cheap, 3000 sq ft rent-controlled loft in Manhattan who will die soon, like on Friends! :p

    Well if you're willing to spend that much, I guess you'll find something. You can obviously get something if you have money to offer, but I wouldn't pay that much for a place to stay if all you'll have is around $40000. I say try an area that's slightly less expensive. From what someone in this thread has said, being across from a trendy Apple Store is probably an indication that you're about to spend too much on rent.
     
  9. evoluzione macrumors 68020

    evoluzione

    Joined:
    Jul 19, 2002
    Location:
    down the road, that's where i'll always be
    #9
    you may want to think about finding a place a little further down from SoHo, closer to Canal St, there's plenty of old Chinese warehouses up for rent, and there's plenty of cool stuff in the way of designers and art places there too. You may have already missed the boat on that area, i'm not sure. Another place I would highly recommend is TriBeCa, some beautiful buildings down there, and it's a very cool place, think SoHo without the tourists.

    When I was looking for office space, i was hoping to get some space on Broadway and Prince, right above the Dean and Deluca store, as I know a company in that building, I was hoping to sublet, but even that was way out of my range. I eventually found a place in the Photo District (which was a good place for me to be) but I had looked in Brooklyn before that. And before you dismiss it, let me tell you, Red Hook is beautiful, amazing warehouse/loft spaces for way less price. You have some incredible views (of the Statue of Liberty for example) and are right on the water in an old old part of NYC. It's very close to Manhattan, and to drive to SoHo only takes 10 minutes (to drive!).

    So, good luck, and be prepared to spend that $5k a month, and an extra $5k on a real estate agent to find you a place!
     
  10. Moxiemike macrumors 68020

    Moxiemike

    Joined:
    Jan 1, 2002
    Location:
    Pittsburgh, PA
    #10
    Boy. Glad I'm still in pittsburgh, where my MORTGAGE TO OWN is under $400. That's for a 3-bedroom home, which i'm spending a small bit to remodel, with a yard and 2-car garage. :)

    What's nicer is that it's in a hip, up and coming artist district and prices are rising everyday. I can also get office space about a block away for $235/mo for 450 sf.

    And before anyone moans, "But it's PITTSBURGH!" check this out:

    http://www.pittsburghlive.com/x/tribune-review/specialreports/enterprise2003/s_119198.html

    I'm about a 5 minute drive from anything like this in town. :) Sorry to rag on the NY-ers.... but....

    How's upstate treating ya, evo?

    m
     
  11. evoluzione macrumors 68020

    evoluzione

    Joined:
    Jul 19, 2002
    Location:
    down the road, that's where i'll always be
    #11

    well, after a false start, we're in our new apartment, have been here for a week now, and i've just got my internet hooked up, finally. as for the rest of it, i love it. i'm soooo happy to be out of nyc, it's soooo relaxing up here, and so beautiful, just gotta get me that EOS 20d and i'll be taking pictures all the time! my office (2nd bedroom) is bigger than the space i was paying $1,500 for in the city! and, i'm now in Woodstock, so there's plenty of opportunity for me here. cheers for asking :) wanna come to our "housewarming" party??? ;)
     
  12. Chip NoVaMac macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #12
    I hear you, but what is the price for homes in the "Heights" i think it is called (over looking the city across the river near the Incline)?
     
  13. Abstract macrumors Penryn

    Abstract

    Joined:
    Dec 27, 2002
    Location:
    Location Location Location
    #13
    Just goes to show you that all the actual "cool" places are the areas that people are moving into. If you're moving into Soho, you're not cool. You just have money to spend. The real characters know better. Its like jumping into a trend when that trend has already peaked. Time to move on.
     
  14. asif786 thread starter macrumors 65816

    asif786

    Joined:
    Jun 17, 2004
    Location:
    London, UK.
    #14

    heh, I dont deny that though. I dont live in the states so I dont really know where the new upcoming areas are. If I had the cash to throw around I would move in to Park Ave - somewhere I know will probably never go down in price.

    One of the only reasons I picked soho was because there's sooo many loft studios like I want in that area..other areas either have too many boring grey offices or too much residential..
     
  15. evoluzione macrumors 68020

    evoluzione

    Joined:
    Jul 19, 2002
    Location:
    down the road, that's where i'll always be
    #15
    welcome to new york

    sounds like you need to stick to below 14th st for sure :)
     
  16. Flowbee macrumors 68030

    Flowbee

    Joined:
    Dec 27, 2002
    Location:
    Alameda, CA
    #17
    You can also search the NY Times classifieds by neighborhood. It'll give you a good idea of what kind of rents to expect. http://www.nytimes.com (Free registration required).
     
  17. Hoef macrumors 6502a

    Hoef

    Joined:
    Jul 11, 2004
    Location:
    Houston, TX..... (keep walking)
    #18
    Out of curiosity, what visa will you be on? .... Most visa won't allow you to be freelancer officially (except for a O1).
     
  18. asif786 thread starter macrumors 65816

    asif786

    Joined:
    Jun 17, 2004
    Location:
    London, UK.
    #19

    You know what, I haven't actually considered that. I didnt think it would be too much of a problem for someone coming from the UK to USA. Looks like I'll need to come to NY soon to speak to a lawyer and take a look at some SOHO lofts.

    Thanks for the headsup/
     
  19. Hoef macrumors 6502a

    Hoef

    Joined:
    Jul 11, 2004
    Location:
    Houston, TX..... (keep walking)
    #20
    Because you are from the UK you can stay for 3 months, which is your standard visa waiver for visitors. Getting a B1 shouldn't be that hard .. It'll get you 6 months in. Other than that it is a pain in this post 9/11 country where entrance is controlled by homeland security. I am telling from experience :(
     
  20. evil_santa macrumors 6502a

    evil_santa

    Joined:
    Sep 23, 2003
    Location:
    London, England
    #21
    You might want to talk to the US Embassy in London first about a visa, I have know freelancers work in the US, but only if the work is for a UK company & they were getting paid in the UK.
     

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