Technical Update: Moments before writing this post, I tried yet another fix to the issues my mobile users are having. Please let me know if you can test it and it works. I plan to move to a new hosting site as soon as possible /Heavy Sigh
Here is a recap of tonight’s Million Dollar Listing New York that airs at 9 p.m on Bravo. I got it done while I had the time since it ran on Saturday night along with several other Bravo shows. This frees me up to watch 60 Days In in real time.
Luis talks to the asshole co-lister of three apartments in one building in Brooklyn. They had decided to sell the two lower units without showing the penthouse at the open house. Then the asshole guy took everyone up to the penthouse and completely screwed up their marketing plan. This guy asked Luis to come in and assist with the unit. Luis says if he doesn’t want to listen to his marketing strategies and work with him, he doesn’t need to stay on the listing. The sort of apologizes and Luis agrees to move forward.
Luis meets for a business lunch with Fredrik. He hopes that Fredrik will send clients that don’t want to buy into his building to have a look at his three units and he will send his clients to Fredrik. Fredrik is all in on that idea. I am worried Fredrik will just receive client without giving them. Luis talks to Fredrik about Ryan’s shady dealings with him on a recent project where Ryan was moving in on one of his builders They also talk about how Ryan is buying likes on Instagram! Hell, I didn’t even know that was a thing. Followers sure, but likes?
Both Luis and the listing partner both have offers on the first floor unit so they have a bidding war. Neither side gets to full asking price and the seller is not interested in even giving a counter offer. The assholey guys is quite clumsy in his discussions with the seller and Luis has to figure out how to muzzle him. Luis gets his buyer up to within $25,000 of full ask and the seller takes it.
This is totally the Brooklyn episode. Fredrik is out to visit a repeat client about listing a refurbished building of 60 spacious ultramodern lofts. The total sellout on the building will be $100,000,000!!! One hundred million dollars. For someone whose checking account currently has three digits because on top of all the other catastrophes this week, my revenue check has not arrived yet, I can’t wrap my head around that figure Fredrik will get a three million dollar commission if he sells all the units.
Fredrik hosts a lavish brokers open house and the developer wants to attend. That is always a bad idea. There are over 500 brokers waiting to get in. Fredrik is showing off the units and mentions to one broker he once sold a parking spot in Manhattan for a million dollars while showing a $2.5 million dollar unit. There are bidding wars all over the place in the middle of the brokers open! Because the developer is there seeing all of the excitement, she immediately gets greedy and worries they are underpriced. She wants to hold back a few of the units, perhaps ten or twelve to sell later at a higher price. Greed. It’s a real thing.
Later Fredrick shows the developer that he has sold 15 units at full price. Mona says she wants to hold back three of the units he has sold. She needs to take from the 45 remaining. She says they are the best rental units, which is exactly why they sold. Fredrick tells her that he cannot work for her under these conditions where the rules constantly change. He tells her to hire another broker and leaves.
Ryan is not in Brooklyn this week, he is on the upper west side, asking for a listing. It is a townhome that used to have twelve apartments and is now one gigantic pristine single family home. It is at least five stories tall and has an elevator. There are giant his and hers master baths and three huge master closets There is a below ground level that is a wine cellar. It’s super ultra modern I don’t think anyone lives there. It has been on the market for $18 million for over three years. The house is overpriced simply because it is so very big. Ryan thinks it is worth about 16 the buyer actually wants to raise the price to 20 because they are using an agency. I think his feeling is that with more people seeing it, they can find better qualified buys and a raise in price would cover the commissions. It doesn’t work like that. If it is not selling at 18 then 20 is not the way to go. Ryan decides not to take the listing at $20 million. Something tells me this is all storyline.
A few days later, the seller calls Ryan and says that everyone else he spoke to agree to the $20 million and it somehow made him think that Ryan was the right choice. So he gets the listing. Quelle surprise!
Ryan’s marketing strategy is to go outside of Manhattan for buyers. The theory is the place is simply too big for New Yorkers (It’s 8,500 square feet! in NYC) so he has called in brokers from LA, Miami and the Hamptons. The Miami broker has a client who wants to do an inspection before making an offer, but he is super interested. So they do the inspection and it comes back with tons pages of things to fix that would cost about $25,000. To be continued….