This week, Ryan is trying to sell the two townhouses he listed last week on the same street. The less expensive of the two properties has a seller who barely speaks and is probably the most laid back person on the planet. Ryan brings him a low offer and he just say, “Okay, let’s split the difference.” Easy peasy, done deal.
The owner of the more expensive house is very loquacious and he is pissed that Ryan sold his other listing which could effect the price of his house. Ryan wants to drop the price. The seller wants to pull it off the market until the comps improve.
Ryan’s little brother sends him a client name Nick. This is the first time anyone in his family has sent him a client. He’s worried it might be some sort of revenge for something. He has a budget of $2-3 million dollars and wants to live in Soho. Ryan tries not to laugh. Nick shows up late for the showing with his friend, the Fat Jew. He manages to show up on every Bravo show.
Steve is working with a difficult developer. He had a new property a 66 E 11th street for $12.75 million but during the listing he suggested the seller finish out the garage before selling it. After he listed the property, the seller took his advice and pulled the listing to finish the garage. However, the developer has another property for him to list in the same building place of the first one on a higher floor with no garage.
So of course Steve’s buyer has tons of ridiculous changes they want done. Like probably half a million dollars worth of ridiculous changes and they are coming in a million and a half below ask. We know this offer is going to be laughed off but Steve presented it in the gym while working out with the developer, so that’s really all I needed. The developer won’t even counter.
Steve decides to hashtag the agent for the people with unreasonable demands on his Instagram account where he posts photos of the showings he is having. The agent calls and raises their offer to $8 million and will drop all the changes except the fireplace. Personally, I don’t think they could have possibly been serious about the other changes and just wanted a fireplace. After a bit of pushback, the developer takes the deal.
Fredrik is checking out a listing on 45 E 22nd street, that borders Madison Square Park. It’s an up and coming neighborhood that is a hot market. Fredrik is trying to list the entire building. It is stunning and 65 stories high. Every single room is like a glass box on top of the city. Each floor is one unit. So no neighbors. The apartment he is in is 4,700 square feet. I would never leave my house. I mean I rarely do anyway, but I would literally just sit and look out the windows all day long. The developer wants to give him the top eight floors. It’s supposedly $400 million in total. I didn’t understand the pricing situation.
Ah, after the commercial I get a chart of the units. I like a good chart. The guy sold the smaller units on the bottom half of the building through a major competitor of Douglas Elison. This leaves 25 floors with two units per floor, 8 full floors and 2 penthouses. He seems to have fired the agent he had on the lower half on the building because they were not supportive of his pricing. On the full floor apartment he wants to go up a million dollar on the $20 million base price for each higher floor. Are you following that? He wants $48 million and $38 million for the penthouse. If Fredrik pulls this off and sells all the units at full ask his commission will be $12 million dollars. Fredrik knows the prices are too high, but his boss, Howard Lorber, told him to agree to anything the guy wants to get the listings.
Howard calls Fredrik into his office to discuss the listings. Howard is pissed that Fredrik agreed to the ridiculous pricing. Fredrick hires a helicopter to take aerial photos of the buidling. That is were all the gorgeous photos from the air on his Instagram came from. Fredrik says he has never seen anything so beautiful, it was like the first time he saw Derek naked. LOL.
Fredrik has the open house at the sales office instead of the unfinished units. BIG MISTAKE. The views will sell the properties. He needs to get them in the building. There are five full floors of amenities in the building. This building has EVERY THING. Then Howard shows up at the open house. That is almost as bad as the developer showing up. The feedback from the brokers is that the prices are too high. Shocker.
Next Week: The Fat Jew gets on Ryan’s nerves, Fredrik’s developer is unhappy and Steve and Fredrik cross paths for the first time.