I transitioned to NYC from Minneapolis, before moving on to Los Angeles.
Living in all three of those cities is very unique, however, LA and Mpls had more in common than NYC with either place. As has been mentioned, if you don't make a lot of money things like property ownership will be out of your reach, though LA is becoming that place as well. Everything in NYC is far lower on the bang-for-your-buck scale. Lower your expectations on quality and variety of groceries, and expect to pay a lot more for food and drinks. Getting around is super convenient, except when you actually do need a car it is prohibitively expensive and a pain to own one and keep it in the city.
There is a lot to do and a lot to see and the experience is VERY unique, but I kind of aged out of NYC and was happy to get to LA for better weather and a more sane lifestyle. That said, there was a huge migration of people from NYC to LA starting about 7 years ago and they, like me, all landed on the east side and now the east side of LA is getting a very Brooklyn-hipster feel to it.
Seeing Minneapolis and Seattle and Chicago evolve to be more metropolitan and worldly like NYC is diminishing some of the uniqueness of NYC as a cultural capital, but that said, there will never be an experience like NYC anywhere else while you can approximate that among a lot of other cities.