Posted on 05/03/2023 6:00:01 PM PDT by lowbridge
Sonia Hendrix, the 37-year-old founder of Gallery PR, almost fell off her couch after opening an email from her property manager, indicating that her rent was being raised to $5,500 per month for her one-bedroom apartment in Tribeca. When she moved into the unit in June 2021, her rent was $4,100. Hendrix called it a “sweetheart COVID deal.” But now, after living in New York for close to 10 years, she’s rethinking her situation—and that could mean leaving the city.
Her apartment is directly in front of the Greenwich Hotel, Hendrix says, calling it a “prime location.” However, besides the location and a doorman, there’s nothing special about it. In fact, she says, the lobby and hallways are worn down, and she lived without a functioning bathtub for a year. Hendrix attempted to work something out with her property manager, asking them to reconsider the increase because she’s been a good tenant, but she was instead told, “You’re lucky we didn’t raise it to this last year.” After choosing not to renew her lease, and having to move out by the end of May, Hendrix started looking around at apartments and condos on the market to see if she could afford to take the next step and buy. She was looking at homes particularly in Chelsea because, after living all over Manhattan, Hendrix says she knows what she wants.
“It’s really underscored for me like, ‘Wow, I am so far away from being able to purchase an apartment, a condo, a home,’” Hendrix tells Fortune. But the homes she looked at range from $1.3 million to $1.5 million because, Hendrix says, she refuses to go “backwards” in terms of her living situation, as her level of happiness affects her productivity. Still, Hendrix makes a little over $200,000 annually after taxes,
(Excerpt) Read more at fortune.com ...
Can you please post the whole article. There’s a paywall.
Not even if she’s the Number One Fan of the Man From Tennessee?
Thank you!!!!!!
There is a limited amount of Manhattan (or any high-$ area) available.
Baffles me that so many are baffled by the high cost of living there, when more people with more money are willing to spend more to live there.
Not like some manufacturer turns a crank and more nominal-sized housing units are available at nominal-cost.
At best, someone has to tear down already-built already-expensive housing to put up even more housing - which likely won’t cost any less than prior units, there will just be more of them.
Crazy eyes
She does not have a functioning bathtub, and she does not want to go backwards from there. No wonder she makes so much money; she is a genius.
Hardly a candidate to be an exurbanite.
A humorous bit of CBS Radio Workshop.
She needs to sit down with a financial adviser. She also needs to move to NJ or even further out of the city where the renta are cheaper. I don’t understand how she’s not saving any money - I’m curious what her take home pay is. Also, it drives me crazy when first-time homeowners must have all the bells and whistles in their first home. She needs to rethink that when it’s time to buy.
Article said 200 thousand after taxes.
And I thought everybody is leaving NYC, so why are rents going up?
article said....200 thousand AFTER taxes. I can hardly cry for her!
I honestly can’t believe she can afford Manhattan on $200,000 a year, after tax deductions it will be about half that!!
That’s nothing.
Wait til folks see what’s set to happen to property taxes in NYS...
She could buy a home and get a roommate.
She could always move to queens. Or she gets a 3 bedroom with 2 friends on 49th and 10th and split 12g a month. Still cheaper than 5500 and you live like 90% of the millennials in NYC.
That’s yearly. I’m curious about her weekly/bi-weekly paycheck.
I will not take Manhattan for any amount of money.
To pull off this lifestyle, she was supposed to marry a rich guy fifteen years ago - back when she still had leverage. :)
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