Mirador’s Dr. Lynn Saladino Discusses Serial Mover in the Observer

New York City is a place of movers. People move to it, they move away from it, but what about the people that move all around it? The serial mover, or people that move over and over again all within the span of a few years, is a common characteristic among many New Yorkers. With rising rents, new relationships, broken relationships, expanding families, and more it is no wonder tons of people feel the need to find new homes in and around the City.

The Observer dives deeper into motives behind the serial mover, talking with Mirador Real Estate’s Health and Wellness consultant, Dr. Lynn Saladino. “New apartments often represent a fresh start,” says, Dr. Saladino. “If there is something uncomfortable happening in someone’s life, they likely think a geographic move will help them forget about what was bothering them.” To learn more about serial movers, read the full article here.

Mirador Hires New Leasing Director, Daniel Itingen

Mirador is excited to announce the newest addition to the leadership team, Daniel Itingen. Daniel began earlier this month as Mirador’s new Leasing Director, and with more than 11 years of real estate experience, is eager to work at the rapidly growing Mirador. To learn more about Daniel, read the full release here.

Mirador’s Neeta Mulgaokar featured in The Real Deal: Shifting Power in NYC Real Estate Market

With apartment and condos on the rise, and buyers and renters in New York City in decline, more and more developers and landlords are offering incentives to prospective clients. This is flipping the real estate market in rare favor of the buyers/renters. 

Certain factors are playing key points in the market shift including surging supply, an absorption slowdown, incentives influx, price reduction, and the pursual of brokers. The Real Deal spoke to Mirador Real Estate Agent Neeta Mulgaokar about buyer/renter incentives saying, “the incentives are making and breaking deals when people are comparing apples to apples.” For more information on the factors influencing the changing real estate market in New York City, read the full article here.

Mirador Commissions Artist Zimer to Create Custom Murals for Exclusive Rental Buildings 55 and 57 Spring Street

Mirador Real Estate has commissioned street artist Zimer in partnership with 212 Arts to create a series of ten mini murals for the hallways of its exclusive rental buildings at 55 and 57 Spring Street. This collaboration is the first initiative as a part of Mirador’s new marketing division. To read the full press release please click here.

Mirador’s Jessica Milton Featured in the Observer: Rapid Aging of In-Home Tech

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.

Mirador’s Jeffrey Hannon Featured in the Observer: East Harlem Development

With thousands of listings across New York City, Mirador Real Estate’s agents have robust knowledge in the city’s various neighborhoods, including East Harlem, which The Observer recently identified as an area primed for development.

In order to find out why the neighborhood remains relatively inexpensive despite dramatic price increases elsewhere, The Observer spoke with Mirador Real Estate agent Jeffrey Hannon. He notes that East Harlem has a historical disconnect with the Upper East Side, and that its town homes are not as well refurbished. Nonetheless, he predicts “a lot of development” in the future due to the neighborhood’s prices and location. Read the full article here.

The Real Deal Checks in With Mirador’s Managing Partner Karla Saladino on the Over Saturation of New Development in Manhattan’s Condo Market

Karla Saladino on the Current Manhattan Market

The Real Deal reportsthat the mid- and high-level Manhattan real estate markets – those units priced $5 million and above – are becoming increasingly favorable to buyers. The price-per-foot has actually lowered for properties $10 million and up, and there are signs the decreasing prices will reach the mid-level market. On the other hand, prices for entry level units – those $2 million or less – remain high, with buyers still likely to pay more than the asking price.

To discover the reasons for these opposite trends, The Real Deal spoke with Mirador Real Estate’s managing director, Karla Saladino:

Overall, the median sale price in Manhattan was $1.1 million during the second quarter, up about 13 percent year-over-year from $980,000, according to real estate appraisal firm Miller Samuel.

Karla Saladino, managing partner of Mirador Real Estate, said that jump was a byproduct of an oversupply of new development units across most price points — with the exception of the entry level.

“You can’t dump thousands of units onto a marketplace in a three-year period and not expect the market to correct or flatten out because of it,” she said.

Saladino also noted that some buyers who can afford apartments in the $5- to $10-million range simply don’t want to be saddled with such a large asset. As a result, they trade a tax deduction for flexibility and rent an apartment for $10,000 to $15,000 a month instead. “Young entrepreneurs value freedom of everything. So purchasing a home and leveraging yourself doesn’t appeal to them,” she said.

Read the entire article here.

Mirador’s Resident Appraiser and Salesperson Eydie Saleh in The Real Deal on Brooklyn Rental Trends

Brooklyn Trends

Mirador Real Estate’s Eydie Saleh makes predictions for the Brooklyn market in The Real Deal‘s October issue. The magazine’s Residential Scorecard reports that several neighborhoods have seen decreases in year-over-year median rent for the past two months. In other words, rents were lower in July 2016 than they were in July 2015, and the same was true for August. Eydie predicts landlords won’t continue to lower rents, but they will make other concessions to renters:

Mirador Real Estate broker Eydie Saleh said concessions and financial sweeteners that landlords will likely start throwing in may not be reflected in bottom-line rental prices. But she said renters should expect to be relieved from the money they burn on agents’ fees.

“There will be an increase of landlords paying my fee,” Saleh said.

The issue is now available on newsstands, but you can read the Residential Scorecard online here.

Mirador’s Chad Thomas on Contract Contingencies in the NYC Market for Brick Underground

Contingency Plan

In real estate, a contingent offer (also known as a contingency) is a purchase offer in which certain conditions must be met for the deal to go through. For example, if a buyer wants to purchase a house but has to sell her own apartment first, she can make a contingent offer to the seller, asking the seller to take the house off the market until she raises the necessary funds. If she doesn’t meet a given deadline, the deal can be canceled, and she may even face agreed upon penalties.

Contingent offers are relatively rare in a seller’s market, but Brick Underground reports they are becoming increasingly common in New York as the market slows down: “Contingent offers haven’t been seen much lately, given how hot the market has been—sellers could always find other takers—but some attorneys and agents report that they’ve been making their way back into the fray, signaling what could be a rebalancing in the market.”

To find out what forms contingent offers can take, Brick Underground spoke with Mirador Real Estate’s Chad Thomas, who explained how sellers can protect themselves from buyers who can’t hold up their end of the agreement:

One solution? A reasonable monetary compensation, say a promise to cover what’s called the carrying costs of a property—maintenance and utilities, for instance—for each month the seller has to wait for the buyer to make good on the sale. (The agreed-upon compensation doesn’t have to be tied to carrying costs, of course, but it’s a good place to start.)

“If the buyer is strong, and their contingency is specific to an appraisal or an amount, then the seller’s risk can be mitigated and they can probably move forward (obviously after agreeing on all the other basic terms),” says Chad Thomas of Mirador Real Estate.

Chad also offers advice for buyers who seek a mortgage consistency, in which either party may cancel the sale if the buyer is unable to secure a mortgage:

From the buyers’ perspective, Thomas suggests those who are risk-averse and want mortgage consistencies to offer to forfeit a portion of the contract deposit—as opposed to the entire amount—”if it’s a highly desirable property or a competitive buying environment.” This way, there’s some skin in the game, so to speak. “It’s a way of showing the seller that they’re willing to do everything possible to close,” explains Thomas.

Read the rest of the article here.

Mirador Real Estate Announces the Opening of its Newest Office

Mirador Real Estate is proud to announce the opening of our newest office location, the fifth since our first opened just three years ago. The new office is located at 16 East 12th Street in Manhattan and will specialize in sales. Its 1900 sq. ft. bi-level space was gut renovated and completely re-imagined by our in-house interior designer, Logan Yost, who created an open, energetic, and vibrant forum that includes a lounge area and wet bar.

Karla Saladino, co-founder of Mirador Real Estate, explains, “Because we had a demand for more seller side representation, we decided to roll out an environment where we can cater to our sellers and buyers. We had explosive growth these last two years, but I held back on taking on many larger sale side rep projects until we were ready. We are now excited about going full-steam ahead in the sales arena.”

Read the full-length announcement at citybizlist.

Mirador Cited in Nestio’s Observer Interview on Empathy and Building a Business

One of the tools we are proud to use is Nestio, a cloud-based software platform that helps us manage our listings so we can connect renters with open apartments more quickly and efficiently. Mirador Real Estate was one of the first clients of Nestio, adopting it in its earliest stages and providing feedback to the developers as they continued to refine it. Nestio founder Caren Maio describes this development process in an article about empathy and its importance to building and growing any business. Empathy is a cornerstone of our own organization, and we couldn’t agree with her more.

Caren Maio: “It’s all well and good to solve people’s problems. But businesses also exist to make money. What I’ve found most eye-opening of all, however, is how often these two things go hand-in-hand. Care for customers, first and foremost, and growth and profit follow.  Partly this is human nature. When you’re constantly talking with your customers and gathering feedback, you’re also cultivating rapport and confidence. This builds the kind of deep relationships that endure even when things don’t go exactly as planned. At the highest level, empathy actually reciprocates empathy. Your customers become your champions: rooting for you as your product evolves and improves.

An example: One of my earliest customers was Mirador Real Estate, a prominent residential brokerage in New York. Their managing partner, Karla Saladino, offered some of the most incisive and honest feedback about our initial iterations. Today, she’s a good friend and also one of our fiercest advocates. I’ve seen this sense of ownership from customers time and time again. They happily refer us to other clients, help us with promo videos and even do reference calls.  Without empathy, it’s hard to imagine this kind of dynamic.”

Read the rest of the article here.

Mirador’s Managing Partner Karla Saladino featured in this week’s Observer

Our Founder and Managing Partner Karla Saladino Weighs In on Current Rental Market Costs

The Observer recently asked Mirador Real Estate’s managing partner, Karla Saladino, for her expertise, quoting her about the recent decrease in average Manhattan rents. Many landlords, rather than lower rents, are offering more incentives to entice people to sign. Karla explains that in newer buildings, these incentives are offered not to bring in more rent money, but to bolster rent rolls and fulfill promises made to investors:

Karla Saladino, managing partner with Mirador Real Estate, suggested, however, that outside of a few neighborhoods like Midtown West and Long Island City that have seen a surge of inventory in recent years, landlords are more often using incentives less out of strict necessity than a desire to goose their buildings’ values.

“We are seeing more concessions because the landlords want to hit certain rent rolls, and the secret is out that you can do that with concessions,” she said.

Established landlords with high levels of equity in their building will often cut prices instead of offer incentives, Saladino noted. On the other hand, she said, “In new developments a lot of times [owners] were promising investors certain [rent] levels, so they will incentivize sort of non-stop.”

But wait, who do they think they’re fooling? Surely an investor can do the math and figure out that 12 months at $5,000 isn’t actually $60,000 a year if you’re giving away a month free, right?

“That’s not always disclosed,” Saladino said. “I’ve seen marketing contracts that put incentives into the marketing costs, and sometimes investors look at the marketing costs and don’t realize that’s in there.”

Read the rest of the article here.

Mirador’s Wellness Guru Dr. Lynn Saladino featured in this week’s Brick Underground

Mirador’s Sought-After Wellness Consultant, Dr. Saladino Sheds Some Much Needed Light onto How to Successfully Select Prospective Roommates

Mirador Real Estate believes in doing more than just placing people into apartments. We make sure our clients are in their best possible living situation, one that meets their unique needs and requirements. To that end, we employ a health and wellness consultant, Dr. Lynn Saladino, who is able to advise our staff and clients, helping them find ways to improve their physical and emotional well-being. An example of Lynn’s practical advice appears in this recent Brick Underground article about finding the ideal roommate in New York City.

“Be clear yourself as to what it is your looking for—do you want a friend, or just a roommate?” advises Lynn Saladino, a health and wellness consultant for Mirador Real Estate. “And if you’re reading someone else’s ad, try to get a feeling for what the person is looking for; whether they seem friendly in the ad, whether you would have written it in a similar way.” This is also a time to take note of potential communication skills, and whether they’re clear, timely, and respectful in their responses. “If the communication isn’t good at this point, it won’t be when you actually move in, either,” says Saladino.

Lynn’s expert advice continues:

“It’s also wise to float a few questions about their prior roommate experiences,” says Saladino. “Did they have a long-term roommate before, and if so, what were the circumstances of their moving out? Or are they constantly rotating through people,” she says. “It sounds cliche, but the best predictor of future behavior is previous behavior, so if you can get an idea of what has happened before, that helps.” And if they unleash a tirade about their terrible former roomie, that’s not such a great sign. (“There’s a respectful way to say ‘we didn’t get along,’ and then there are really nasty ways of doing that,” Saladino notes.)

Mirador’s Wellness Consultant Dr. Lynn Saladino featured in Brick Underground

Sharing Space can be Stressful. To Help Ease the Strain, Dr. Saladino Shares her Expert Tips on How to Pick the Right Roommate for You.

One of the first steps in nailing down an apartment is often finding a suitable roommate (or two).  While most of us have a repository of anecdotes about roommates who have come and gone over the years, there are always a few stories that we wouldn’t miss had they never happened.  Whether they’re eating your food or operating a few levels of spectacle above that point, holding steadfastly to some ground rules along with a healthy sense of self-awareness can help establish a congenial living environment.

Mirador Real Estate’s own wellness consultant Dr. Lynn Saladino has some handy tips for finding that balance.  “If you write a bit about the vibe of the living space you are looking for, you’ll likely attract a person who is looking for the same,” and finding someone who has similar expectations of the roommate relationship is crucial for maintaining an even keel while navigating the waters of apartment living.  A willingness to start conversations and face confrontations regarding the terms of your living situation can prevent conflict and frustration for those sharing their space with someone, be they a friend or stranger.  For more advice and even perhaps a few things that wouldn’t seem immediately obvious, head over to Brick Underground for more advice on harmonious living.

Mirador Real Estate’s Eydie Saleh featured in Brick Underground

Mirador’s Licensed Real Estate Salesperson and Appraiser Eydie Saleh Weighs in on Rental Qualification Process for Grad Students Looking to Live in NY

Living in one of the most populated cities in the world, it’s easy to forget that New York is also home to one of the largest student populations in the country.  While working toward that brass ring career, graduate students can face significant barriers in their search for an apartment.  The consensus among realtors is that while graduate students may find a landlord willing to work with transitional financial situations, many will be reluctant to accommodate students without a guarantor.

“It goes without saying that every landlord is different, but standard, larger management companies tend to be pretty stringent,” says Mirador Real Estate’s Eydie Saleh, but this doesn’t paint as discouraging a picture as one would expect.  There are still multiple avenues to finding a rental while you pursue your higher education so long as you’re willing to do a little extra legwork.  Eydie and others chime in on Brick Underground with a quick guide to qualifying for a rental through official and unofficial channels to help move you into a cozy study space so you can earn your higher degree with a lower degree of stress, read more here!

Mirador’s Exclusive Listings, Pan Am Equities Tower 67 and The Caroline, featured in this week’s episode of The Real Housewives of NYC!

In Her Search for a Home Away From Home, RHNYC Cast Member Countess Luann de Lesseps Turns to Pan Am Equities’ Luxury Residences.  

The bevvy of well-to-do beauty’s featured on BRAVO’s hit reality franchise the Real Housewives are known for living large.   So of course when they come home to kick up their couture heels, only the most opulent abodes would do.  After all, it’s not easy engaging in all that drama fueled fun each week.  It’s the type of outlandish glitz and glam that keeps viewers glued to their television as the reality series gives them a glimpse into the lifestyles of the rich and famous. 

The Real Housewives of NYC sip lush living from a crystal glass.  After all, Manhattan is home to some of the wealthiest women in the world.  Lucky for us, BRAVO gives us a peek into the lifestyles of some of the most prosperous and business-savvy women that the city has to offer, as they take a  peek into what the city has to offer them. 

So it’s no wonder  when cast member Countess Luann de Lesseps was searching for a pied-a-terre to complement her home in the Hamptons , only the finest would do.  She embarked on a search for a doorman luxury building with beautiful views, open space, abundant light, and a full spread of amenities – and Pan Am Equities Tower 67 and The Caroline fit the bill.   Known for listing premium Manhattan properties, Mirador Real Estate’s exclusive listings have become a go-to for many clients seeking spacious apartments with scenic views, without compromising quality or location.

First stop was Tower 67, where Luann was dazzled by the breathtaking views and the ample sunshine streaming into the 3-bed/3-bath high-rise apartment. She felt as if she had the city at her fingertips.

The main room could serve as the perfect dining area, where she could hold court and entertain guests.  Luann also marveled over the built in closet, fit for a Countess of course, where she could house her fabulous signature ensembles.  

With a prime location in the Flatiron district just steps away from Madison Square Park, the next stop was Mirador’s exclusive building downtown –Pan Am Equities “The Caroline” located at 60 W 23rd St New York, NY. 

While touring the Caroline, Luann and cast-mate Sonja Morgan were blown away by the posh penthouse they walked through, especially the one-of-a-kind gadgets displayed throughout and state-of the art bathroom amenities.

To view the full episode, featuring Tower 67 and The Caroline, view the full episode here.  To view availabilities, contact their exclusive agent, Mirador Real Estate.

Mirador Agents Anastasia Grusha and Melissa Trosterman featured in this week’s Brick Underground!

Feeling Harried in Your Home Search? Hear from Two of Mirador’s Top Licensed Real Estate Salespeople on How to Efficiently Hit the Market in a Hurry

When time is of the essence, hunting for your next home can be stressful. Since purchasing property is a pressure inducing process in itself, it’s important to perform an efficient streamlined search while minding the strict deadlines to mitigate the sense of urgency placed on a client’s shoulders.

Luckily, there are methods that are to keep in mind when hitting the streets. Mirador agents Anastasiia Grusha and Melissa Trosterman share with Brick Underground their secrets to a stress-free and rewarding home search experience, with the desired end goal of finding your perfect residence.

Anastasiia Grusha recommends, “gravitating towards apartments that are in ‘move-in condition.’” This will ensure a more seamless moving process, and if there are amenities not attended to, clients can use them as a negotiating chip to carve out a move in ‘as-is’ date, while tending to necessary accommodations.

Mirador’s Melissa Trosterman advises home seekers to come prepared with all necessary documentation, including potential guarantors; in hard copy form to expedite the process.

So whether it’s wearing comfy shoes or having the right documents, a plan of action will aid your efforts in finding that perfect property. To read the full story and hear more adept advice from Melissa and Anastasiia click here.

Mirador’s Co-Founder and Managing Partner featured in this week’s Observer!

The Great Space Debate: Is Volume-Based Pricing a Valid Means of Assessing Apartment Marketability or Merely an Alternative Method Falling Flat– Karla Weighs In

Imagine standing in the checkout line at a grocery store, contemplating the exact cubic footage of the food you are about to purchase before reaching the cashier. I mean, who really knows how many cubic feet are in a package of cheese?

Similar questions have been coming up over into the real estate world, with some brokers questioning the merits of the traditional methods of pricing properties. Some salespeople feel that relying solely on square footage for evaluating a space is not adequate when it comes to ultra-luxury listings. In these instances, some feel a volume approach towards pricing would be best when it comes to accurately evaluating distinguishing amenities, such as high ceilings.

Our Managing Partner, Karla Saladino believes this to be much ado about nothing. When broaching the subject with her landlord clients, Karla told the Observer “they literally laughed themselves to death.” She continued on to explain that the landlords “thought it was just more broker babble and ridiculousness,” she said.

There are so many components that go into determining the value of a listing. Basing calculations on something such as ceiling height without taking into consideration all of the other attributes, would be inaccurate, not truly reflecting the competitive pricing market.

Bottom line: Karla doesn’t believe buyers are going to fall for the hype when it comes to this alternative method of arriving at an appraisal. In the article, Karla describes that using volume is “like using the word ‘cozy.’ Clients will see right through it. It’s like listing in centimeters to get more numbers into my listing.”

To read more on what Karla had to say, check out the full article here.

Mirador’s Associate Broker Jeffrey Hannon Featured in this week’s DNAinfo!

Fire Escapes –Alluring Amenity or Something to be Absolutely Avoided

There’s a quietly quaint charisma surrounding the steel gratings of fire escapes stacked alongside many NYC buildings; becoming somewhat of an iconic feature. Even Hollywood has taken note, showcasing these rusty rails center stage in one of the most revered rom-coms of all time – Pretty Woman. I mean who can forget that final scene where Richard Gere rescues Julia Roberts from the fire escape, bouquet and all!

While we might not be Julia Roberts, we can appreciate the magic attached to that scene, and the attraction of buying or renting a unit featuring our very own fire escape. Not only does it grant extra outdoor space (a hot commodity in Manhattan), it also provides the safety of a quick and easy exit from an apartment in case of a fire. 

Whatever the aesthetic charm or outside appeal may be, the truth of the matter is some city fire escapes are dilapidated, leading to fatal disasters. This frightening fact has now got many New Yorkers wondering – are fire escapes a feature or foe?

Mirador’s Associate Broker, Jeffrey Hannon sat down with DNAinfo to share his thoughts on this very issue. He shares with the publication that “whether people see fire escapes as an amenity or a security risk depends a lot on the neighborhood they’re renting in.”

Jeffrey delves deeper into the pros and cons regarding having a fire escape outside your own home, covering everything from security issues vs. the enviable “Manhattan patio” space some New Yorkers feel it provides. Here’s everything you need to know before deciding if a fire escape is a feature for you and your family.

Mirador’s Licensed Real Estate Salesperson and Appraiser Eydie Saleh featured in this week’s Brick Underground

NYC Neighborhoods Buyers Can Invest In for a Nice Nest Egg

There are two things that you can count on when it comes to NYC real estate: the market acting awry and the cost of living continuously climbing (almost as high as those new luxury residential skyscrapers shooting up all across the city).

But fear not, first-time buyers! There is still much money to be made in Manhattan, especially when it comes to investing in real estate. The key to the money making castle, is recognizing when to pounce on a deal and when to opt out.   Knowing which neighborhoods to buy into is critical when the end goal is to generate more bang for your buck.

As an expert appraiser for the past eleven years, Mirador’s Eydie Saleh knows a thing or two about profitable property purchasing. Eydie shares her wisdom with Brick Underground, weighing in on which neighborhoods first-time buyers should steer towards, when it comes to making that initial investment.

According to Eydie, “Northern Manhattan is by far one of the best investments for first-time buyers. Columbia University is well into construction of their new Medical and Graduate Education building on Haven Avenue between 171th and 172nd Streets. It’s one of the most exciting monumental new developments happening in NYC.”

Read the full article featuring Eydie in Brick Underground here, and learn more about what neighborhoods are a must and which ones are a bust, when it comes to investing your hard earned cash.