In the cutthroat world of New York City real estate, one name stands above the rest: Ryan Serhant. The world-famous CEO of SERHANT. brokerage is now set to take center stage in his own Netflix reality series, “Owning Manhattan.” Launching on June 28, 2024, this eight-episode series promises to offer viewers an inside look into the adrenaline-filled universe of high-stakes Manhattan real estate.
“To sell real estate in Manhattan, you have to be cut from a very special, sometimes crazy cloth,” Serhant tells Tudum, Netflix’s official companion site. “Manhattan is an island with trillions of dollars of real estate and private wealth. Literally the only way to branch out is to leave the island. It’s like Survivor.”
The New York Real Estate Market: A Concrete Jungle of Opportunity
New York City’s real estate market, particularly Manhattan, is unlike any other in the world. With limited space and seemingly unlimited demand, property values in the city have long defied gravity. As of 2024, the average price per square foot in Manhattan hovers around $1,600, with luxury properties easily commanding multiples of that figure.
The market has faced its share of challenges in recent years, from the impact of the COVID-19 pandemic to shifting work-from-home trends. However, New York’s resilience and allure continue to drive demand, especially in the luxury sector. Foreign investors, tech millionaires, and Wall Street titans all vie for a piece of the Manhattan skyline, creating a fiercely competitive environment for real estate professionals.
Ryan Serhant: The Man Behind the Empire
At the heart of “Owning Manhattan” is Ryan Serhant himself, a man whose rise in the real estate world has been nothing short of meteoric. Serhant’s journey began in 2008 when he entered the real estate industry during one of the worst housing markets in history. Despite the challenging start, his unique blend of charisma, marketing savvy, and relentless work ethic quickly set him apart.
Over the years, Serhant has closed more than $8 billion in sales and represented clients in record-breaking deals across the country. His success on Bravo’s “Million Dollar Listing New York” catapulted him to celebrity status, but it was his business acumen that truly set the stage for his next big move.
In September 2020, at the height of the COVID-19 pandemic and amid uncertain market conditions, Serhant made the bold decision to launch his own brokerage, SERHANT. Under his leadership, the company has expanded to seven states, grown its agent and employee roster to over 500 people across 19 states, and amassed over 6 million followers across all social platforms. The company secured the #6 spot on The Real Deal’s list of Top Residential Brokerages for 2022 and has produced award-winning marketing content and PR campaigns.
The Cast: Serhant’s Elite Team
“Owning Manhattan” doesn’t just focus on Serhant; it also showcases the elite team of agents working under him. To make it at SERHANT., agents must adhere to strict criteria. As Serhant explains, “One, you have to sell, so you have to carry an annual rolling gross commission income of $500,000. If you don’t sell real estate, you can’t be here. Two, you have to be incredibly hardworking. Three, you have to be a good person. And four, you have to think outside the box.”
The cast includes a diverse group of high-performing agents, each bringing their unique strengths to the table. There’s Chloe Tucker Caine, a former Broadway star turned powerhouse real estate agent; Nile Lundgren, a leading expert with over $300 million in sales; Tricia Lee, an accomplished entrepreneur who’s sold over $200 million in her solo career; and Jade Shenker Denham, a commercial real estate strategist who’s managed over $650 million in luxury assets.
Other notable team members include Jessica Markowski, Jessica Taylor, Jordan Hurt, Jonathan Nørmølle, Jordan March, Savannah Gowarty, Jeffrey St. Arromand, and Genesis Suero. Each agent brings their own flair and expertise to the high-stakes world of Manhattan real estate.
Behind the Scenes of High-End NYC Real Estate
“Owning Manhattan” promises to pull back the curtain on the strategies and tactics used to secure and sell the most exclusive listings in New York City. From crafting the perfect marketing campaign for a $50 million penthouse to navigating the delicate egos of ultra-high-net-worth clients, viewers will get an unfiltered look at what it takes to succeed in this competitive arena.
One of the key challenges in Manhattan real estate is securing exclusive listings. With so many brokerages vying for the same properties, agents must rely on their networks, reputation, and often, their creativity to win listings. Once secured, marketing these properties requires a blend of traditional methods and cutting-edge digital strategies. Serhant, in particular, has been praised for his innovative use of social media and video content to showcase properties.
Dealing with high-profile clients adds another layer of complexity to the job. Discretion is paramount, as is the ability to cater to exacting demands and tight schedules. Many deals are conducted under strict non-disclosure agreements, with agents acting as both real estate professionals and de facto concierges for their wealthy clients.
New York vs. Dubai: A Tale of Two Real Estate Titans
While “Owning Manhattan” focuses on New York, it’s worth comparing the Big Apple’s real estate market to another global powerhouse: Dubai. Both cities are known for their luxury properties and sky-high towers, but they operate under vastly different conditions.
New York’s real estate market is characterized by its limited supply and stringent regulations. The city’s complex zoning laws, landmark preservation rules, and often lengthy approval processes for new developments create significant barriers to entry. In contrast, Dubai’s market is known for its rapid development and more relaxed regulatory environment, allowing for ambitious projects like the Palm Jumeirah and the Burj Khalifa to come to fruition quickly.
In terms of property values, both cities boast some of the most expensive real estate in the world. However, New York’s prices tend to be more stable over time, driven by the city’s status as a global financial center and cultural capital. Dubai’s market, while offering potential for high returns, has historically been more volatile, influenced by oil prices and regional geopolitical factors.
Foreign investment plays a significant role in both markets, but the nature of this investment differs. New York has long been a safe haven for international wealth, with foreign buyers often seeking pied-à-terres or long-term investment properties. Dubai, on the other hand, has actively courted foreign investment with initiatives like long-term visas for property investors, making it easier for non-residents to enter the market.
The Impact of Reality TV on Real Estate
“Owning Manhattan” is far from the first reality show to focus on real estate. Shows like “Million Dollar Listing” and “Selling Sunset” have captivated audiences with their blend of property porn and personal drama. However, these shows have also had a tangible impact on the real estate industry itself.
For agents featured on these shows, the exposure can be a double-edged sword. On one hand, it can dramatically increase their profile and lead to new high-value clients. On the other, it can create unrealistic expectations and sometimes lead to tensions with colleagues who aren’t in the spotlight.
For the broader real estate market, these shows have helped demystify the process of buying and selling high-end properties. They’ve also contributed to the celebrity status of certain agents, with some becoming household names in their own right.
“Owning Manhattan” aims to stand out in this crowded field by focusing not just on the glitz and glamour of luxury real estate, but also on the strategic and business aspects of running a top brokerage. By showcasing Serhant’s leadership and the inner workings of his company, the show promises to offer a more comprehensive look at what it takes to succeed in this competitive industry.
The Allure of Manhattan Real Estate
As “Owning Manhattan” prepares to hit screens, it’s clear that the allure of New York City real estate remains as strong as ever. Despite challenges ranging from economic uncertainties to changing work patterns, the dream of owning a piece of Manhattan continues to captivate people from around the world.
For Ryan Serhant and his team, this enduring appeal presents both opportunities and challenges. In a market where a single deal can be worth tens of millions of dollars, the stakes are always high. But for those who can navigate the complexities of Manhattan real estate, the rewards can be equally astronomical.
As viewers tune in to “Owning Manhattan,” they’ll be treated to more than just a glimpse of stunning properties and big-money deals. They’ll witness the strategy, hustle, and sheer determination it takes to rise to the top in one of the world’s most competitive real estate markets. In the concrete jungle of New York City, where fortunes are made and lost on a daily basis, Ryan Serhant and his team are out to prove that they truly own Manhattan.
While “Owning Manhattan” showcases the pinnacle of New York real estate, the global property market offers exciting opportunities beyond the Big Apple. For those intrigued by the luxury real estate world depicted in the show, why not explore the equally captivating market of Dubai?
3SA Estate Dubai invites you to experience the emirate’s unparalleled real estate landscape. Much like Manhattan, Dubai boasts iconic skylines, world-class amenities, and properties that push the boundaries of luxury and innovation. However, Dubai’s market offers unique advantages:
- Rapid Development: Witness firsthand the lightning-fast pace of Dubai’s real estate evolution, with new architectural marvels constantly reshaping the skyline.
- Investment-Friendly Policies: Take advantage of Dubai’s foreign investment incentives, including long-term visas for property investors.
- Tax Benefits: Enjoy the perks of Dubai’s tax-free environment, maximizing your investment potential.
- Diverse Portfolio: From man-made islands to futuristic skyscrapers, Dubai offers a wide range of unique properties to suit every taste and investment strategy.
Let 3SA Estate Dubai be your Ryan Serhant in the Middle East. Our team of expert agents combines local knowledge with global expertise to help you navigate Dubai’s dynamic real estate market. Whether you’re looking for a pied-à-terre with a view of the Burj Khalifa or a sprawling villa on the Palm Jumeirah, we’re here to make your Dubai real estate dreams a reality.
Don’t just watch others conquer Manhattan – make your mark in one of the world’s most exciting property markets. Contact 3SA Estate Dubai today and start your journey to owning a piece of the future.
