Tag Archives: Million Dollar Listing

Entertainment

Ryan Serhant Is Back on Real Estate Reality TV With ‘Owning Manhattan’

Leave a comment

To be lured again from his hiatus from the truth TV universe after 10 seasons on Bravo’s Million Greenback Itemizing: New York, NYC-based superstar dealer Ryan Serhant knew he needed to do one thing totally different. “I didn’t wish to make Million Greenback Itemizing: New York 2.0, or a derivative of Promoting Sundown, which has its personal distinct fashion,” he says. “So, we’ve created an idea of elevated actuality.”

The brand new idea, Proudly owning Manhattan, launched Friday on Netflix. In some ways, it feels soothingly acquainted to the slew of different fashionable actual property actuality fare like Promoting Sundown and Shopping for Beverly Hills: luxurious itemizing porn, feuding peacocking brokers, high-stakes gross sales. However with its hovering orchestra rating, documentary-style filmmaking and Serhant’s outsized, time-tested character, it presents a cultured, insider’s look into Serhant’s new actual property company, named, in fact, SERHANT.

“Ryan offers good TV as a result of he’s good TV,” says World of Marvel’s Randy Barbato, who government produces the present. “It’s genuine. It’s not an act. Earlier than we began filming, he’s been constructing this empire, and he has determined that he needs to be the N. 1 brokerage agency on the planet. And to see somebody making an attempt to attain that’s superb. On high of that, he’s somebody who has coronary heart, and is humorous and is a good businessman — they’re the belongings you’d placed on a want checklist after which anticipate AI to generate. However Ryan truly delivers it. After which on high of it, he has good pores and skin.”

A lot of the motion takes place within the SERHANT headquarters in Soho, house of the previous Tommy Hilfiger landmark retailer, which turns into a type of character within the present. “It’s just like the Soho Home of actual property,” says government producer Fenton Bailey, of World of Marvel.

Barbato agrees. “It’s very stylish. It’s very taking place. It’s very buzzy.”

With Serhant getting into the function of courageous chief and mentor, the present focuses on a mixture of brokers each outdated and new, with made-for-TV attraction and flash for days. “It’s a Baskin-Robbins,” Barbato says.  “There are various flavors of wonderful forged members on this forged.”

Standouts embody Tricia Lee, a classy, steely powerbroker in Brooklyn who’s seeking to make it simply as large in Manhattan; Jonathan Nørmølle, a tatted up, expressive Danish upstart; and Savannah Gowarty, a peach-pie recent beginner from North Carolina.

“I latterly have been equating the true property enterprise with the drag queen enterprise,” says Bailey, longtime producer of Drag Race together with Barbato. “To be an ideal agent is simply not that dissimilar to being an ideal drag queen.”

Nobody personifies this greater than the brash Chloe Tucker Caine, a former Broadway star in Mama Mia! earlier than changing into a top-selling agent.

“You must be a triple menace,” Bailey says. “You’ve acquired to know your stuff about property. You’ve acquired to know easy methods to promote it. You’ve acquired to know easy methods to gown nicely. You’ve acquired to know easy methods to stroll and discuss, and also you’ve acquired to know media. You’ve acquired to know easy methods to submit nice movies. what, drag queens and actual property brokers are the Marines of actuality!”

Though he’s an outdated hand at being a actuality star, Serhant admits that filming Proudly owning Manhattan was daunting. “Taking pictures this whole present was terrifying. It was not like something I’ve ever performed,” he says. “We shot all the present in actual time, and it’s the one actual property present the place there are stay firings. So, I don’t know if I’d name these scenes ‘enjoyable,’ however they have been probably the most actual I’ve seen on an docuseries, and I’m excited for the viewers to expertise them.”

Viewers will see a softer, mentor model of Serhant, encouraging brokers to “Take it to the Wall” (actually, a wall in the primary workplace the place brokers checklist their large gross sales). It additionally delves into his purpose of merging know-how and actual property, particularly by way of his Instagram, which has over 2 million followers. 

“We’ve been making property exhibits for a gazillion years. I imply, the primary present we made was Sizzling Property for Channel 5 within the U.Okay., actually final century,” Bailey says. “And it’s humorous to see how promoting actual property and houses has advanced and actually fused with media and social media. it was {that a} itemizing could be only a few footage, and also you’d must make an appointment — you’d must go see it. And now, there’s 360-degree movies. There are drones flying by way of the home!”

A lot of the drama of the season revolves round Serhant’s try and promote the hovering penthouse at Central Park Tower, the very best residence on the planet with an elevation 17,545 sq. ft. At the moment listed for $195 million, the penthouse serves as a metaphor for the good heights Serhant and his crew aspire to.

“The query in the end was, what is going to make folks lookup from their telephones? What if the present opens in voiceover, has a first-person narrator and, as a result of all episodes launch on the similar time, the sequence seems like a documentary movie — what does that feel and look like?” Serhant says. “Then, layer in unbelievable actual property as in probably the most excessive properties on the planet, actual offers being performed for important quantities of cash, the backdrop of New York Metropolis, a various and distinctive forged of personalities and feelings — some who’re new to the enterprise and a few who’re fairly seasoned — numerous drama and humor, and we shock the viewers till the ultimate credit of the ultimate episode. What would that be like?”

Viewers are actually discovering out. In a media house crowded with actual property fare, Proudly owning Manhattan guarantees to be a breath of rarefied recent air, with one outdated hat within the heart of all of it. “Ryan is again the place he belongs,” Barbato says. “On everybody’s TV set all all over the world.”

Entertainment

Series Explores U.K. Real Estate

The enterprise of actual property in London is characteristically British: reserved, unostentatious, conservative. Dealmaking is opaque and listings are sometimes bought off-market by way of unique contracts — thwarting competitors amongst brokers and businesses. The U.Okay.’s property brokers queue reasonably than showboat.

Worse nonetheless, lips stiffen on payday. In London, brokers typically obtain simply 1 to 2 % of their gross sales as fee, in comparison with as a lot as 6 % within the U.S.

It couldn’t final. On Could 22, Shopping for London bows on Netflix. The U.Okay.’s reply to actuality spectacles like Selling Sundown and Million Greenback Itemizing, the collection guarantees to take TV audiences the place they’ve by no means been earlier than: inside London’s most unique residences and the quietly cutthroat enterprise of promoting them.

“Count on to see lovely properties and folks with numerous character and persona,” the present’s star, Daniel Daggers, 44, tells THR. “I like the truth that folks get to see the best metropolis on the planet on their massive display. There’s numerous leisure.”

Daniel Daggers, the founding father of London’s DDRE actual property brokerage, stars on Netflix’s new actual property actuality present, Shopping for London.

Courtesy of Netflix

A London native who had ambitions of soccer stardom, Daggers has reached the highest of his metropolis’s actual property ladder after 12 years at Knight Frank, promoting the “super-prime” market; properties priced at 10 million-plus kilos ($12.5 million). In 2019, he was a part of the workforce that bought a Georgian mansion at 3 Carlton Gardens to billionaire Ken Griffin for roughly $122 million — the most important deal London had seen in a decade. Throughout his 26-year profession, he’s closed $5.5 billion in London property offers.

Now, Daggers is main the cost to push London’s property businesses towards the extra open, agent-friendly enterprise fashions seen in New York, Los Angeles and Dubai.

The 1st step occurred in 2020, when Daggers launched his personal company, DDRE. It eschewed the town’s conventional, bankerly method to actual property in favor of the sharkish, unbiased contractor system widespread within the States. “[The agents] pay to be a part of DDRE world, after which they preserve 70 % of their commissions,” says Daggers, who goes by “Mr Tremendous Prime” on Instagram. He provides that assembly brokers from in different elements of the world broadened his view. “In markets like New York and Miami, I witnessed what brokerage seemed like. I met the highest brokers. I began to see the affect of social media,” he says.

However Daggers isn’t alone. A relaunched London Sotheby’s franchise — owned by ex-Swiss banker George Azar — guarantees a lot the identical factor. It plans to demand larger charges for brokers and to share a bigger piece of the pie with them. “Within the outdated days, you had the large fish consuming the little fish. At present, you may have the quick fish consuming the sluggish fish. We’re the quick fish,” Azar, who additionally owns Sotheby’s in Dubai, informed the Monetary Occasions.

Freddie Mercury’s former residence, Backyard Lodge, in the marketplace for $38 million.

Barney Hindle

In the meantime, the arrival of branded residences is including recent luster to London. 5-star resort chains Raffles, Mandarin Oriental and The Peninsula are all promoting multimillion-dollar flats serviced by their namesake adjoining inns. The Peninsula, a brand new Peter Marino-designed constructing positioned in ultra-posh Belgravia, has 25 non-public residences asking about $12.6 million, or $7,360 per sq. foot, for a one-bedroom — roughly 3 times the typical per sq. foot for prime central London property. Not content material with merely one London property energy play, Griffin is reported to have purchased the penthouse for greater than $125 million.

On the identical time, Raffles has reworked the gargantuan Previous Conflict Workplace (OWO) in Whitehall — the place the likes of Winston Churchill, Ian Fleming and T.E. Lawrence as soon as toiled— right into a $1.4 billion luxurious playground. It has 120 visitor lodging and 85 residences, every with a novel format. The constructing is half bought, with the penthouse nonetheless out there for about $125 million, whereas one-bedroom residences begin at $5 million. Michael Bloomberg and Goldman Sachs Worldwide president Todd Leland are reported patrons. In truth, Individuals are the constructing’s largest boosters, brokers say, maybe drawn by the constructing’s cameos in The Crown and Bond flicks from Octopussy to Spectre.

Inside a residence at Raffles’ The OWO Residences.

Martin-Morell

“London was late to the branded residences sport,” says Charlie Walsh, head of residential gross sales at Westminster Improvement Providers, together with these for the Raffles residences. That tardiness, he says, speaks to the sophistication of London’s purchaser pool. “They won’t be fobbed off with a 20 % premium since you slapped a model on the facet of a constructing. There must be justification as to why somebody’s doing it. It needs to be a model that understands hospitality and repair.”

Walsh says that Raffles’ 9 eating places, three bars and 24-hour service are proof of the resort model’s actual property hospitality know-how. And it’s already turn into a society gathering spot, with Prince William and Tom Cruise posing collectively in February at a gala fundraiser at The OWO, which has the third-largest ballroom in London.

The first bed room of the Portia Fox Penthouse at Southbank Place‘s One Casson Sq. seems to be out over the London Eye; it’s listed for round $16.45 million.

Southbank Place

Nonetheless, it hasn’t been a simple begin of the yr for the London property market. Costs for properties in prime neighborhoods — like Belgravia, Mayfair and Kensington — slumped 7.1 % in January, year-over-year. Linked to excessive borrowing prices, it was the most important decline in almost 5 years, in response to LonRes information. However there are indicators of a rebound, with roughly 1 / 4 of London properties promoting above their asking worth, in response to the brokerage Hamptons. One of many metropolis’s most enjoyable new listings is Freddie Mercury’s former residence in Kensington, a neo-Georgian mansion in the marketplace for the primary time since he purchased it in 1980. It’s listed with Knight Frank for $38 million.

However, in response to Daggers, the capital’s new growth sector is the place the motion is. He factors to buildings like 1 Mayfair — a $2.5 billion growth being constructed by cell phone tycoon John Caudwell. Already, 120 patrons reportedly have registered for simply 29 residences with costs round $87 million, in response to The Night Commonplace.

Present listings round London embody the previous Italian embassy in Belgravia, listed with Beauchamp Estates for about $27 million. “Throughout its time as an embassy residence, this illustrious townhouse-mansion was visited by notable company from the pages of historical past together with Diana Mitford, Lloyd George and Wallis Simpson,” says Charles Lloyd, head of Beauchamp Estates (Mayfair & Belgravia).

Courtesy of Topic

One other instance of this new breed of London super-apartment will be discovered at The Whiteley, simply north of Hyde Park. It’s a change of a historic division retailer, with 139 non-public branded residences and the U.Okay.’s first Six Senses resort, on account of open in 2025.

“When a brand new constructing is constructed and a branded residence is in play, it entices lots of people, not simply within the UK, however everywhere in the world,” says Daggers. “They need to come and take a look at this new vacation spot constructing.”

Costs at The Whiteley, in typical London style, are elusive — simply know that if it’s a must to ask, you’ll be able to’t afford it. Even Daggers proudly touts that 60 % of his listings are off-market with no digital footprint. “There are a few excellent properties off-market for $160 million and $175 million. You simply don’t learn about it,” says Dagger, acknowledging that his new present is a step within the different path.

” ‘Eyeballs’ — that’s a time period used within the U.S. that we don’t actually use within the U.Okay., however we’re beginning to undertake it,” says Daggers. “I do know firsthand that TV sells actual property. So what higher platform to search out your property on than Netflix?”

Listings round London embody this loft-like four-bedroom residence, occupying two flooring of a Victorian warehouse, listed with Nest Seekers’ Solly Strickland for $11.97 million.

Courtesy of Topic

A model of this story first appeared within the Could 8 problem of The Hollywood Reporter journal. Click on right here to subscribe.