Housing Alternatives

New Yorkers treat real estate as a blood sport. Seconds after the announcement of weddings or funerals, in the same breath as "Congratulations" or "I'm sorry for your loss," comes "What about the apartment?" People go to dinner parties and, after examining a particularly large bathroom-one where you can sit on the commode without putting your feet in the tub-feel no shame in asking how much the host pays in rent. Any good Midwesterner will drop his jaw at the lack of tact, but here, renters need every edge they can get, even if it's a friend's dead grandmother. What would Columbia students do if they couldn't live in the dorms? There are visions among graduating seniors of lofts in SoHo and flats in the East Village, but which neighborhood in NYC is the most popular, and where would you live if you couldn't stay here?

Upper West Side | A location on Central Park West, across the street from the park, is probably the closest thing you'll get to a yard in Manhattan and this one bedroom has it. This doorman building is only blocks away from the Natural History Museum, if you're in the mood for ancient armadillos the size of Volkswagens. At 700 sq. feet there is space to throw a small dinner party. With a washer-dryer on site, this is a perfect first New York apartment. And with a new, post-graduation job at Goldman Sachs, there will be no problem with the rent.

First Month's Cost: $8320

Chelsea | This studio in the West 20s is tiny, but relatively cheap. The building-while lacking amenities like a doorman, 12-foot ceilings, or a door to the bedroom-is near the area's fantastic wine shops, grocery stores, and restaurants. This neighborhood is alternative-lifestyle-of-your-choice friendly and, as a result, is packed with interesting restaurants and clubs. The biggest problem with the apartment is the tiny closet, which is not adequate to hold the amount of fabulous shoes required to live in New York City's premier gay-borhood.

First month's cost: $3,190

Lincoln Correctional Facility | While the rooms in this high-rise will require some serious vertical decorating to maximize the small space, the views of Central Park are lovely. There are work-out facilities and you can't beat the price. It also comes with no broker's fees and a complimentary ride to the building. Great neighborhood, but you probably won't get out much.

Move-in fees: $0, with living expenses and utilities included

East Village | This tiny one bedroom with exposed brick sits around the corner from St. Mark's Place. There is all the food shopping and alternative lifestyles one might need just steps outside the front door, which is good, because at 450 square feet, no one would be able to spend more than a couple of days in this tiny hole. The one window in the bedroom is the only source of natural light, so pack those reading lamps. After sampling some of the amazing food and drinks this neighborhood has to offer-and being shocked by the price tag-one understands why all the artists moved to Brooklyn.

First month's cost: $4,884

Williamsburg | This third floor apartment in the heart of one of the City's trendiest areas boasts a historic building, large rooms and a lower that normal rate. Invite your Carman 12 roommate to take the other bedroom and share the cost. The catch? A train ride to campus of at least an hour will certainly give you time to crack some books, and the hipsters in the neighborhood will improve you sense of irony.

First Month's Cost: $2,900

SoHo | That beautiful open, airy loft with the amazing light that they always show in the movies? It's right here in SoHo, occupying an entire 2,000-square-foot floor with a private elevator, and you can fill the three bedrooms with a lot of close friends to help share the rent. Since there probably won't be much cash left to enjoy the nightlife and clubs, you can go check out the amazing art at the nearby galleries. The full chef's kitchen will also help you save money by encouraging eating in.

First month's costs: $35,378