The Real Deal New York

“Million Dollar Listing New York”: Social media #fails and red hot Brooklyn

Recap of Season 5, Episode 4

May 13, 2016 12:20PM
By Kerry Barger

MLDNY

From left: Fredrik Eklund, Luis D. Ortiz and Ryan Serhant

​I​n this week’s episode of “Million Dollar Listing New York,” Fredrik and Luis try their hardest to bring Manhattan prices to Brooklyn, and Ryan proves that saying “no” can still score you an overpriced listing.

Here’s where we leave the men with the gold-plated lower-thirds:

​Luis​
After making amends with Jordan over the penthouse debacle, Luis meets up with Fredrik to briefly talk business and extensively talk smack about their Million Dollar Listing co-star’s Instagram. Ryan has committed the cardinal sin of social media by allegedly purchasing followers. The accusation surfaces after Luis meticulously stalks Ryan’s likes. Fredrik, king of dachshund selfies and humblebrags, even unfollowed Ryan’s Instagram because he found it “nauseating” and “infuriating.” ​Social media drama isn’t just for millennials.

His decision to split forces with Jordan is proving fruitful, however, as the two brokers reel in not one, but two offers for the garden duplex at 7 South 3rd Street in Williamsburg. But the building’s co-owner, Anne, says the project is “exploding with quality” and wants full price for the “artistic, exclusive piece” she keeps mistaking as art. Before Jordan can initiate a full-on meltdown, Luis wrangles another offer just $25,000 short of the unit’s $2.5 million asking price, which​,​ thankfully​,​ Anne can live with. One listing down, two to go.

​Fredrik​
“King of Manhattan” Fredrik is also wandering off the island, this time to a 60-unit condo conversion smack dab next to the Williamsburg Bridge. He proclaims that “Williamsburg is becoming the Soho of Brooklyn,” which the building’s developer, Mona, realizes when nine of the units sell out within the first hour of Fredrik’s book signing (cross out) open house. Not to be left out, Mona tells Fredrik she wants to hold back between 10 and 12 units to rent first, and sell for a higher price later. “I’m just not going to listen to her, she’s going to have a drink, and she’s going to forget about it,” Fredrik says.

It turns out a few glasses of white wine couldn’t make Mona forget about all that already-tapped potential. Following the open house, Fredrik sells a total of 15 units — but it just so happens that Mona had her eye on three of those units, and despite him furiously waving the deal sheet in her face, wants to take them for herself. When she can’t guarantee that Fredrik will be the future broker once they re-enter the market, he walks away from the project, and $2 million in lost commission quickly becomes water under the Williamsburg Bridge.

Ryan
On the outs with co-stars, Ryan skips the line to discover Brooklyn with an insanely ​large townhouse on the Upper West Side. At $18.3 million and 8,400 square feet, the townhouse is apparently just too big and expensive to sell, despite a $6 million upgrade. Ryan is ready to deploy his “screw it, let’s do it” attitude, until the developer​, Ward,​ counters with a “go big or go home” approach, and requests Ryan to list it at $20 million. Even Ryan can see the writing on the original Manhattan bedrock, and walks away from the listing. “We’ll send you a note when it closes,” says​ Ward, who forgets the listing sat on the market for three years at $2 million less.

Ryan soon receives not a note but a phone call from Ward, who was unimpressed with brokers bowing before his $20 million price tag. He commissions Ryan to sell the townhouse for $18 million, quickly reversing the “the dumbest thing he’s ever done in his career.” The listing is proving to be too big for New York’s buyers though, who’ve successfully adapted to closet-like conditions. Sebastian, the head of Ryan’s office in Los Angeles, manages to spark some interest–but only if the spread is inspected before an official offer is made. How many violations could a top-to-bottom renovation acquire? About $25,000, thinks the picky ​inspector. Better get on that ​UV-protected refrigerant lining, Ryan.

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