It's Season 2 of Million Dollar Listing New York, where three amazing brokers, Fredrik Eklund, Luis Ortiz, and Ryan Serhant, show the world what it takes to sell high-priced New York City apartments. Check in each week for recaps by Eater New York's fearless nightlife editor Scott Solish. Episode air date: 7/17/2013.
Crisis 1: It's All Falling Apart
Ryan and Fredrik's relationship had made such amazing progress last week, and it looked like the two of them were going to make sweet, sweet real estate love to each other via Fredrik's big project at 250 Bowery. But how quickly love can fade, especially when Fredrik jacked the prices in the new building by more than 30 percent at the request of his client, developer Zach Vella. Ryan is not happy, but Fredrik doesn't care, since there are over 900 other people who have expressed interest in the rather boutique building. What's a broker to do?
Not that Ryan. Not that. Threatening Fredrik at the hottest broker's open event of the century is probably not the way to get Derek to like you or get your clients a deal. Do you think the security guard is there for MDL or for the event? Ryan is thrown out and bummed out. The best way to burn off some steam is to put on head to toe Lululemon and go for a run.
That's better. The good news is that most of his clients are backing away from the 250 Bowery listings because of the prices. So at least Ryan doesn't have to deal with Fredrik anymore and can move on to his other deals, like a pricechopping penthouse at the Alexander at 250 49th Street in Turtle Bay. It's a co-listing where Ryan will not have to do any work if he helps his co-worker Jill land it. The place is a stunner.
It's a 5,500-square-foot five-bedroom duplex with a great outdoor space, but Ella the seller has already tried to unload it for six months to no avail. She is upset.
She also wants $17 million, which Ryan thinks is way too much. He recommends a price below $15 million that he thinks will drive traffic to the massive space. Jill puts on her poker face.
It may also just be how she always looks. Uncertain. Ryan recommends staging the apartment to freshen it up, and Jill says she has the perfect company in mind and will cover the cost to boot. Errr, what?
Ryan doesn't know what just happened, but he's going with it. He comes by a few days before the open house and Jill has some news.
It seems that the decorator and artist she hired for the job have both pulled out. There is no reason given, but we're guessing she had just made up that she knew of a decorator and art curator to re-do the space. Now the easy co-listing that Ryan had signed up for has become a total nightmare and he has to clean it up. But before he can finish strong, he gets a call from his client John, who says despite the price raise, he still wants in at 250 Bowery. Ryan can't explain to him how he made an ass out of himself to the broker, but he can tell him that he will see what he can do.
Exhale, dude. Because you also have a crisis going on uptown with a broker's open for your $15,000,000 listing that is falling apart due to a co-broker from the Twilight Zone. Why there won't be any food at the event:
Who takes the train to Connecticut if they are having a medical emergency? Is there some kind of bullet train to Stamford that gets you right to a hospital that no one has told us about? Ryan rightly flies off the handle, but we have to wait until next week to see what happens with the itchy wonder.
Crisis 2: Other Fish To Fry
Ryan may not be into the prices at 250 Bowery, but a lot of other brokers and buyers sure are. It's deal making time for Fredrik, and he is driving all over town with completed deal sheets.
It's pretty great, no? Especially since he already has eight deals lined up after the first event. That's enough Swedish meatballs for a hero chased by a shot of glug. It's not time to celebrate, though?there are still units to sell, and after the price increase, the 900-person interest list is quickly dwindling to nothing. It's time to change tactics (or maybe do a crossover with Bravo's Flipping Out team? Andy Cohen, call me to discuss).
Fredrik decides to break out the Snuggies and bring buyers who didn't come to the party to the building because the phone calls were not the same as actually seeing the property.
The Fredrik buttons are a nice touch. But alas, still no sales. Fredrik decides to stay late at the office and try and get some deals going. Derek needs a Swedish Meatball hero too.
Everyone works with a bottle of champagne, right? But maybe getting in the celebratory mood was the right way to go, because a few moments later Ryan is blowing up Fredrik's cellie with news that John is still in on the building. Ryan shows up the next day to get the cheapest one-bedroom left, while Fredrik's goal is to unload the most expensive unit possible on his nemesis. SHOWDOWN!
Ryan thinks paying $2,000/foot for a one-bedroom is just stupid and wants something else. Watch how that goes.
Oof. But Ryan is desperate and takes the deal, full ask, all cash. SWEDISH MEATBALL TIME. But Ryan wants to get the final word:
Crisis 3: Graduating To The Big Leagues
Luis may not have learned how to show a hot property like 50 Lispenard, but he did learn that new developments are the way to go. So to capitalize on this knowledge, he has been cold calling every developer in New York, hoping to drum up some business. That's where he found these two
Reuben and Rachel are looking for some Harlem properties to turn into condos, as long as it's west of Madison and below 125th Street and no more than $850,000. You and everyone else in the world. Luis knows its not likely, but he takes the assignment on anyway. Guess he hasn't learned that much.
Luis does some research and confirms his hunch that there is nothing in Harlem that meets his clients' desires. But that doesn't stop him from showing them some things that don't.
Ah realtors. Why listen when you don't have to? But Luis convinces them to go above 125th Street and finds them two adjoining brownstones that offer a chance to do a much bigger project.
The clients love it, but they are wary of paying the mansion tax (for purchases over $1 million) and the 20'-wide building is listed for $1.2 million while the smaller one is just $750,000. Luis has an idea?offering $950,000 for each to get to a total of $1.9 million and thus avoiding the mansion tax. SHAMPION. Everyone gets on board and they have a deal.
Luis comes through. He is still not really in the development business since he just repped a buyer who hasn't built anything. But why ruin his fun?
· Official site: Million Dollar Listing [Bravo]
· Million Dollar Listing New York coverage [Curbed NY]