Cost of living Downtown Montreal?

Ok well i`m currently living in NB and since i work for a banking institution Company that its headquarter is based in Montreal a intern Transfer is very possible. Now, i was wondering how much of a annual salary would be reasonable to live there, I currently have a car but since i would probebly live downtown Ville-Marie (I would limit between, De la Montagne,to the west, Dr penfield north, de la gauchetiere south and Jeanne-Mance to the east) now i was looking at a appartment/condo at 1200$ a month, I do have a vehicle now but i would probebly sell it since i would be right in the Center of everything, i do like to eat in restaurant however I never go to bar clubs etc, not really a night hawk guy, So any info is appreciated, I am also Perfectly Bilingual in french and english.|||If you're planning to stay alone and go often in restaurant, maybe a salary of 50k per year would be enough to live in downtown. But, you can find less expansive apartments outside downtown not far from a sub station.