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.
Brick Underground recently polled prominent brokers to find out “the most outlandish requests new NYC renters make.” Those new to the city often have unrealistic expectations of the real estate market, the agents say, such as hopes of fitting a king-size bed into a tiny apartment, or getting a pad with a private outdoor space.
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.”
With technology and home innovation accelerating at hyper-speed, the New York City real estate market is straddling a difficult line of adhering to technology trends while remaining timeless. Something that has proved challenging as once cool iPod docks and other dated technologies remain in homes long past their “cool” date.
The Observer spoke to Mirador Real Estate agent Jessica Milton about how some of these older technologies prove useful for buyers looking for specific needs. She recalls how a dumbwaiter featured in an older apartment was passed over by 90 percent of potential clients, but for her final buyers was seen as an amazing benefit. One that improved their lives by helping them easily move things between their residential space and in-home office. For more information about aging technology in the market and how New York City real estate is adapting, read the full article here.