all right you're looking at the tv
personality luxury real estate agent
ryan sterhant he's responsible for some
of new york's most lucrative deals
although the market has had its twists
and turns because of covet our area
still remains pretty hot that's what
he's saying friend of the show ryan
sirhan joining us this morning with real
estate trends hello ryan
good morning how are you good so you're
thinking real estate in our area in
manhattan are you talking all the
boroughs things are doing well
well new york city specifically is doing
incredibly well and thank goodness you
know i got into this business the day
lehman brothers filed for bankruptcy and
it is still drilled into my head that
real estate is a tough tough tough
market to be in but since covid last
year was a great year this year is
already shaping up to be amazing i mean
last year you know closings were up 77
contracts signed were up 50 there was 30
billion dollars in residential sales
done in new york city just last year the
biggest year ever wow that's crazy
because we heard so many people had
moved out of the city did they move back
or are we getting other people here you
can't believe the news can't believe the
news
people left but more people actually
moved to new york city last year and
then left the city and if you have tried
to rent an apartment in new york city or
buy an apartment in the last six to
eight months
you're gonna feel that pressure there is
low inventory and there's heavy demand
and it's putting a lot of upward
pressure on pricing to the point where
the average price point for a condo in
new york city now is just under two
million dollars almost the highest it
has ever been and there is no sign of it
slowing down so anyone who's listening
to this and saying ah well now it's at
the peak doing that you can't time the
market you can never do it
it is always going to go up and then
it's always going to go down if you try
to time it that's like someone trying to
say well i don't want to buy a
convertible because it rains
have fun live your life the dinosaurs
died one time you might one day too so
keep going everything's gonna be okay so
ryan is there i love your analogy um is
there a particular price range that is
very difficult right now
uh you know manhattan is a unique space
because the numbers are are large you
know up to three million is very very
active is definitely a seller's market
um properties sub three million are
selling within a matter of weeks if not
a couple months
between three and seven million and
sometimes up to that kind of ten range
there's a bit more inventory so you're
seeing average days on markets trending
over 200 sometimes up to about 280 281
and then north of 10 million the luxury
market and the super luxury market is
moving incredibly fast you're seeing
properties come to market for 20 million
dollars and selling in two days because
there just isn't enough inventory for
that luxury buyer huh all right i always
love playing the game the real estate
game with you ryan where you show me
some of your real estate and i get to
guess
what it is
right how much it is yes all right
you're sort of okay at this game
every time i see you though i'm like
she's gonna get it this time she's gonna
get it all right so tell us about our
first property
all right so this one is 390 west end
this is one of my favorite buildings it
is called the appthorpe it's a historic
a landmark building on the upper west
side this is 4 200 square feet over two
floors four bedrooms three and a half
bathrooms
gorgeous eat-in kitchen amazing
incredible millwork look at those
ceilings look at the arched windows all
original restore details in a building
that was originally built in 1908.
what do you think it's worth okay so you
said it's over 4 000 square feet three
bedrooms duplex
um
i'm gonna say
10 million
wow
i'm in my office by myself i don't even
know who i'm looking at right now but
wow
9.888 is the asking price good job the
owner probably wanted 10 million and you
you little sly devil you you said no
we're gonna go for nine eight eight
eight listen it's the buyer psychology
those eights that's right
okay
show me another one let me see if i'm
i'm really on to this game now
all right so next up we have 116 east
63rd street right so this is prime
upper east side low 60s this is a gut
renovated pre-war co-op with a lot of
gorgeous custom mill work throughout
three bedrooms two bathrooms
huge oversized pella lifestyle sash
windows triple exposure
you've got a custom rochelle grist
marble fireplace it's pre-war full
service really just very very very
top-of-the-line gorgeous gorgeous
features throughout you said eighth
floor co-op co-op eighth floor 63rd
street three bedrooms
five million
i don't know what's maybe it's the 2022
and you i don't know what's going on
four and a half pretty good pretty good
i am on the trends with ryan zerhan
today all right let's let's go for three
third is the charm let's do it
okay
so this one is this is a fun one so this
is a penthouse apartment in chelsea okay
this is 43 west 21st really really
really cool it's actually in in flatiron
on the border of chelsea um it is a
duplex it is a three bedroom three
bathroom 2700 square feet interior
that's the outside space you have a 1400
square foot private roof you actually
have a separate roof on the other side
outside the primary the primary bedroom
suite really really cool open concept
living the second floor is this great
office space mezzanine's place plus the
primary suites 43 west 21st so 21st
between 5th and 6th prime flat iron
right next to brian shelton it's hot
downtown it's hot downtown the kids want
to go downtown that's where everybody
wants to be it's trendy trendy trendy
and it's usually overpriced over priced
over price so i'm gonna say
nine million
okay you know two for three not so bad
so nine million my seller's probably
watching this right now and he's
probably i told you ryan i told you no
the asking price is five and a half
steal steel of a deal the 2022 deal of
the year
so wait how many square feet there 2700
interior 100 exterior now it's not a
full service building it's a calm down
oh wait but it's a boutique building
penthouse no you didn't tell me that it
was not a full service ryan you didn't
ask me i'm not what are the rules here
all right one more i'm feeling very very
do we have one more we don't have any
more all right ryan first of all um
how's your baby
baby's good xena is good i think she's
at a play date right now she's turning
three at the end of february so she's
like she understands everything when she
wants to
so there's definitely some tantrums
there's a lot yes there she is
she wasn't about the boat does she know
buy sell yet does she does she have
those words down
kind of you know she knows how to
negotiate she's on the phone all the
time
you know doing deals with random mickey
mouse with you know coco melon with the
paw patrol we took her to paw patrol
over the holidays the the live
experience in hudson yards yes like
immerse yourself in it i was there for
like four
hours wow
it was it was a lot you're not good so i
was there for me she tagged along with
me i was in the balls i was taking out
kids left and right on the zip line i
was it wasn't for her
ryan is what about your real estate show
is it coming back what's the story
yeah we just finished season nine of
millionaire list in new york on bravo uh
season 10 as far as i'm concerned should
be here should be here shortly there is
no shortage of real estate drama
especially in my life exactly always fun
talking with you thank you so much for
coming on good day
all the best okay