I agree with this. If you can afford this price range, you can find something nice on Clifton or Lake that will give you the most value for your rent, especially given the location. There are beautiful apartments in this area that rent for prices that would shock someone in NYC.

Also, on your note about the Colonial Club, I lived in a studio for a bit in 'The Edge on Clifton,' and it was $525/mo and in a great location. It was very modern and clean for the price. I liked living there when I did.