New hires for Mirador, including Christine DeFrancesco, Rafal Zbrzezny and Kireolos Zakhary, were featured in the June/July issue of the Mann Report. With 15 years of experience in real estate, Christine will be joining us at a leasing manager. Rafal and Kireolos have joined us as leasing agents, with nine and 14 years experience respectively. Read the full article here.
With the L train shutdown on the horizon, brokers are finding it more difficult to rent apartments in the Brooklyn area. Mirador Real Estate broker Jessica Milton says “A lot of people have been concerned and reluctant to move off of the L train,” To make up for this, landlords have to compensate by giving a free month’s rent or accepting renters with credit issues.
Residents are also looking at alternatives to NYC, In Jessica’s experience. “I have a few artist friends who are giving up and moving out of the city and can’t handle it anymore. They’re going upstate. A lot of people are looking at Kingston because they have artist-subsidized lofts up there,” she says.
Read the full article here.
A common dilemma facing house hunters in New York City is whether or not to buy in a building with a pool, and how much this amenity will add to costs. Mirador Real Estate’s Kireolos Zakhary tells Brick Underground that the pool itself does not add dramatic increases to overall prices. “The pool is just one of the many amenities. The value of the unit is determined with everything else – not only the pool,” Zakhary explains.
One of the featured brokers is Mirador Real Estate’s Jessica Milton. She says the most common unrealistic question she hears from renters is whether they can use their roommate’s guarantor as their own. “Leases cannot be guaranteed in part,” she tells Brick Underground. “If you all don’t make 40 times the rent combined, then you all need a guarantor(s) who earn 80 times.”
Jessica also notes, “This year, a lot of first-time apartment shoppers seem to be looking to move in and then think they can just sublet for the summer and move back in come September. While this is possible, it’s not practical and most landlords will not allow this.”
Read the full article here.
In the article, real estate expert Jonathan Miller estimates that foreign buyers “make up between 15 percent of the market, as a baseline — and as high as 85 percent of the buyers in certain new developments around ‘Billionaire’s Row’ in Midtown,” numbers that could fall as the Trump administration attempts to lower immigration. In addition to the controversial travel ban, the administration has sought to limit H-1B visas, which are intended for highly skilled foreign workers.
The story is illustrated with a number of anecdotes, one from Mirador Real Estate’s Paul Magyar, who explains that a New York University student from China recently had to back out of a deal for a three-bedroom in the East Village due to visa issues. Read the article here.