“Million Dollar Listing New York”: Wins, losses and a bouquet of red balloons

Recap of Season 5, Episode 5

New York /
May.May 20, 2016 01:01 PM

In this week’s episode of “Million Dollar Listing New York,” our three heroes each must place their egos aside – at least for a little while – to deal with some rather difficult demands their clients throw at them. Ryan and Fredrik come out victorious. Luis, not so much (at least for now).

Ryan
After winning his bid to sell the mammoth townhouse at 38 West 87th Street last week, Ryan now has to contend with the equally mammoth list of renovations a potential buyer wants done before making an offer. The developer, Ward, tells Ryan that after spending $5.5 million on fixing the townhouse, he absolutely will not pay for these changes (which total about $25,000). So Ryan decides that he will pay for them himself with his commission because “I will have lost $25,000, but that’s OK. I’ll just dry my tears with the other half a million dollars.”

While he’s waiting for the offer to come through, he makes a pit stop in Chatham, NJ where he plays awkwardly with his college buddy’s baby. It’s soon back to business, though, when Sebastian, the head of Ryan’s LA office and broker for the buyer, calls him with an offer for the house – of $15.5 million. It’s a lot lower than the $18 million asking price, but Ryan knows that the house is toxic because it has lingered on the market for three and a half years. Ward is predictably not pleased with the offer, but eventually meets the buyer in the middle at $16.25 million. The deal is done: Ryan flails his arms in joy.

Luis
Luis, being a “persistent Puerto Rican,” managed to be the first broker in the door at 111 Murray, a brand new condo tower in Tribeca co-developed by Steve Witkoff, Howard Lorber and Fisher Brothers. He decides the buyer most worthy of seeing it first is Dennis, a stockbroker who represents big buyers. Dennis manages to move things around in his oh-so-busy schedule to pay a visit to the 111 Murray sales office, where he reveals the delightful news that his buyer can spend up to $13.5 million on an apartment in the building. The bad news is that the Schedule A price of the unit he wants is $13.75 million – and Dennis refuses to go that high.

Though Luis begs him to raise his offer, Dennis holds strong and so Luis must put in the low offer of $13.5 million. Not only is this offer rejected, but the developers have started showing off the place to other buyers, and now want 5 percent more than the Schedule A price at $14.437 million. Poor Luis brings the bad news to Dennis, whose clients are now willing to pay the Schedule A price – a little too late. Luis decides his only course of action is to beg the big man himself, Howard Lorber, to give him the unit at $13.75 million.

Unfortunately, that doesn’t go so well either, and Howard tells him “You didn’t do the right thing for anyone in this transaction.” Luis now knows what it feels like “when the person you respect the most tells you that you are an idiot.” Yikes.

Fredrik
Mona, the developer of a Williamsburg conversion project who last week told Fredrik she wanted to hold back some units in the building after he had already sold them, now calls our Swedish star again with an interesting challenge: if he can sell 50 percent of the units in the building in the next two weeks, she will make him the building’s exclusive broker.

It’s a big ask, and for anyone but the Eklund himself, probably an impossible one. But he accepts, humbly noting that he probably won’t succeed, but will try his hardest to anyway. Fredrik pulls no stops on his mission to bring as many people in the door as possible, even resorting to placing “scary” digital marketing ads. Despite some complaints that the penthouse is not yet finished and that there is noise from the neighboring bridge, he manages to close 17 out of the 18 units in six days. The last takes a little bit of extra time, but he closes the last deal in the end. And how does he tell Mona the good news? By skipping down the Brooklyn Bridge holding a bouquet of bright red balloons. Would you expect anything less?


Related Articles

arrow_forward_ios
RLTY Capital's Briggs Elwell and Ryan Serhant  
Commission advance startup backed by Serhant launches in South Florida
Commission advance startup backed by Serhant launches in South Florida
From left: SERHANT CEO Ryan Serhant, 77 Greenwich Street, Trinity Place Holdings CEO Matthew Messinger and Macquarie Capital's Jackie Hamilton (77 Greenwich Street via Binyan Studios)
Trinity Place Holdings beats deadline with $168M refi at FiDi condo
Trinity Place Holdings beats deadline with $168M refi at FiDi condo
Fidi condo tower risks foreclosure as Trinity Place Holdings races to refinance
Fidi condo tower risks foreclosure as Trinity Place Holdings races to refinance
Fidi condo tower risks foreclosure as Trinity Place Holdings races to refinance
Serhant takes on Sousa’s snakebit townhouse, asking $26.5M
Serhant takes on Sousa’s snakebit townhouse, asking $26.5M
Serhant takes on Sousa’s snakebit townhouse, asking $26.5M
Ryan Serhant and the Library (Getty, Donna Dotan / DD Reps)
Reading the Room: Sales launch at “Library” condo
Reading the Room: Sales launch at “Library” condo
Sara Gore (right) and Ryan Serhant (Getty)
“Open House” host Sara Gore joins Ryan Serhant’s brokerage
“Open House” host Sara Gore joins Ryan Serhant’s brokerage
Quay Tower at 50 Park Drive and Ryan Serhant (ODA, Getty)
Ryan Serhant’s brokerage takes over sales at Brooklyn Bridge Park condo
Ryan Serhant’s brokerage takes over sales at Brooklyn Bridge Park condo
Ryan Serhant and Jolie on Greenwich. (Jolie, Getty)
Serhant goes to the dogs for 77 Greenwich rebranding
Serhant goes to the dogs for 77 Greenwich rebranding
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...