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Ryan Serhant Returned to Real Estate Reality TV With Netflix’s ‘Owning Manhattan’

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To be lured back from his hiatus from the reality TV universe after 10 seasons on Bravo’s Million Dollar Listing: New York, NYC-based celebrity broker Ryan Serhant knew he wanted to do something different. “I didn’t want to make Million Dollar Listing: New York 2.0, or a spinoff of Selling Sunset, which has its own distinct style,” he says. “So, we’ve created a concept of elevated reality.”

The new concept, Owning Manhattan, launched Friday on Netflix. In many ways, it feels soothingly familiar to the slew of other popular real estate reality fare like Selling Sunset and Buying Beverly Hills: luxury listing porn, feuding peacocking agents, high-stakes sales. But with its soaring orchestra score, documentary-style filmmaking and Serhant’s outsized, time-tested personality, it offers a polished, insider’s look into Serhant’s new real estate agency, named, of course, SERHANT.

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“Ryan gives good TV because he is good TV,” says World of Wonder’s Randy Barbato, who executive produces the show. “It’s authentic. It’s not an act. Before we started filming, he’s been building this empire, and he has decided that he wants to be the N. 1 brokerage firm in the world. And to see someone trying to achieve that is amazing. On top of that, he is someone who has heart, and is funny and is a great businessman — they’re the things you’d put on a wish list and then expect AI to generate. But Ryan actually delivers it. And then on top of it, he has perfect skin.”

Most of the action takes place in the SERHANT headquarters in Soho, home of the former Tommy Hilfiger landmark store, which becomes a kind of character in the show. “It’s like the Soho House of real estate,” says executive producer Fenton Bailey, of World of Wonder.

Barbato agrees. “It’s very chic. It’s very happening. It’s very buzzy.”

With Serhant stepping into the role of brave leader and mentor, the show focuses on a mix of agents both old and new, with made-for-TV appeal and flash for days. “It is a Baskin-Robbins,” Barbato says.  “There are many flavors of amazing cast members in this cast.”

Standouts include Tricia Lee, a sophisticated, steely powerbroker in Brooklyn who’s looking to make it just as big in Manhattan; Jonathan Nørmølle, a tatted up, expressive Danish upstart; and Savannah Gowarty, a peach-pie fresh newbie from North Carolina.

“I lately have been equating the real estate business with the drag queen business,” says Bailey, longtime producer of Drag Race along with Barbato. “To be a great agent is just not that dissimilar to being a great drag queen.”

No one personifies this more than the brash Chloe Tucker Caine, a former Broadway star in Mama Mia! before becoming a top-selling agent.

“You have to be a triple threat,” Bailey says. “You’ve got to know your stuff about property. You’ve got to know how to sell it. You’ve got to know how to dress well. You’ve got to know how to walk and talk, and you’ve got to know media. You’ve got to know how to post great videos. You know what, drag queens and real estate agents are the Marines of reality!”

Although he is an old hand at being a reality star, Serhant admits that filming Owning Manhattan was daunting. “Shooting this entire show was terrifying. It was unlike anything I’ve ever done,” he says. “We shot the entire show in real time, and it’s the only real estate show where there are live firings. So, I don’t know if I would call those scenes ‘fun,’ but they were the most real I’ve seen on an docuseries, and I’m excited for the audience to experience them.”

Viewers will see a softer, mentor version of Serhant, encouraging brokers to “Take it to the Wall” (literally, a wall in the main office where agents list their big sales). It also delves into his goal of merging technology and real estate, especially through his Instagram, which has over 2 million followers.

“We’ve been making property shows for a gazillion years. I mean, the first show we made was Hot Property for Channel 5 in the U.K., literally last century,” Bailey says. “And it’s funny to see how selling real estate and homes has evolved and really fused with media and social media. it used to be that a listing would be just a few pictures, and you’d have to make an appointment — you’d have to go see it. And now, there’s 360-degree videos. There are drones flying through the house!”

Much of the drama of the season revolves around Serhant’s attempt to sell the soaring penthouse at Central Park Tower, the highest residence in the world with an elevation 17,545 sq. ft. Currently listed for $195 million, the penthouse serves as a metaphor for the great heights Serhant and his crew aspire to.

“The question ultimately was, what will make people look up from their phones? What if the show opens in voiceover, has a first-person narrator and, because all episodes release at the same time, the series feels like a documentary film — what does that look and feel like?” Serhant says. “Then, layer in incredible real estate as in the most extreme properties in the world, real deals being done for significant amounts of money, the backdrop of New York City, a diverse and unique cast of personalities and emotions — some who are new to the business and some who are quite seasoned — lots of drama and humor, and we surprise the audience until the final credits of the final episode. What would that be like?”

Viewers are now finding out. In a media space crowded with real estate fare, Owning Manhattan promises to be a breath of rarefied fresh air, with one old hat in the center of it all. “Ryan is back where he belongs,” Barbato says. “On everyone’s TV set all around the world.”

 

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Politics

B.C. Conservatives, NDP both announce plans to help ease B.C. housing crisis

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Both of the main candidates in British Columbia‘s election campaign pushed their own plans to solve parts of the housing crisis.

B.C. Conservative Leader John Rustad told a news conference in Surrey that his government would end the multi-year permit delays and would get homes built at the speed and scale needed to address the housing crisis.

NDP Leader David Eby went to Cumberland on Vancouver Island to promote his party’s plan to fast-track factory-built homes.

Eby said pre-built homes would cut waste, reduce emissions, and advances in the industry mean the homes are “beautiful and high-quality.”

He said the process was “more like Lego” than normal construction.

“The idea is pretty straightforward. In a controlled factory environment, you can build faster, you can build with less waste and the homes that are built are more consistent and more efficient and it’s cheaper.”

Rustad said the Conservative Party of B.C. would redesign the approval process for home building, setting a six-month limit for rezoning and development permit and three months for a building permit.

“This means that we will significantly be able to improve the time frame it takes to actually get construction happening in this province, and we’ll be working with city halls across the province to be able to meet these timelines,” Rustad said.

If a clear yes or no isn’t issued by a city within that limit, the province would issue the permit, said a B.C. Conservative news release announcing the platform.

Rustad said the party would remove NDP taxes on housing, support transit-oriented communities, reform development cost charges and make taxes fair for homeowners.

“We have so much regulation that has been put in place associated with housing that it makes it really difficult for anybody to be able to actually get through and build things, not to mention the cost,” he said. “So we’ll amend the Local Government Act to prevent any home killing red tape that has been introduced by this government.”

The party’s statement also outlined their zoning plan, adding that it would work with BC Assessment “to make sure that current homeowners don’t get hit with higher tax bills based on future potential.”

The party statement said, if elected, a Conservative government would build new towns, saying B.C. is blessed with an abundance of land, but the NDP refuses to use it to end the housing shortage.

“We will identify land outside the Agricultural Land Reserve that has the potential to support beautiful new communities.”

A statement issued by the NDP on Friday said it would work with industry, municipalities and First Nations to create a provincewide framework for prefabricated homes so builders know what’s required in every community.

It said there would be a pre-approved set of designs to reduce the permitting process, and it would work to develop skills training needed to support prefabricated home construction.

The statement said Scandinavian countries had embraced factory-built homes, which “offer an alternative to the much slower, more costly process of building on-site.”

“By growing B.C.’s own factory-built home construction industry, everyone from multi-generational families to municipalities will be able to quickly build single homes, duplexes and triplexes on land they already own,” Eby said.

The party said legislation passed by the NDP government last year was a “game changer” for the factory-built home construction industry in the province, where there are currently 10 certified manufacturing plants.

Muchalat Construction Ltd. is one of them, and owner Tania Formosa said pre-approved structures speed up the building process considerably.

She said her company’s projects currently take 12 to 13 months to complete, from startup design to getting the house on site.

“If everything was in place and fast-tracked at the beginning and we were able to just fly along, it would probably take three months off the full schedule,” she said.

She said a main issue for modular manufacturers is that work gets stalled if they run into roadblocks with jurisdictions or BC Housing in the approval process.

“There’s no option for the manufacturer to start another project,” she said. “Having our products approved prior to the process would be amazing.”

She acknowledged the potential drawback of pre-approved designs creating a cookie-cutter look for some neighbourhoods.

“Unfortunately (what) happens in your jurisdiction, in your city, is it ends up looking a lot the same, but what are your priorities?”

This report by The Canadian Press was first published Sept. 27, 2024.

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Housing starts up in six largest cities but construction still not closing supply gap

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The Canada Mortgage and Housing Corp. says construction of new homes in Canada’s six largest cities rose four per cent year-over-year during the first half of 2024, but housing starts were still not enough to meet growing demand.

The agency says growth in housing starts was driven by significant gains in Calgary, Edmonton and Montreal.

A total of 68,639 units began construction, the second strongest figure since 1990, however the rate of housing starts per capita meant activity was around the historical average and not enough “to reduce the existing supply gap and improve affordability for Canadians.”

The report says new home construction trends varied significantly across the markets studied, as Toronto, Vancouver and Ottawa saw declines ranging from 10 to 20 per cent from the same period last year.

Apartment starts in the six regions increased slightly, driven by construction of new units for rent, as nearly half of the apartments started in the first half of 2024 were purpose-built rentals.

But condominium apartment starts fell in the first six months of the year in most cities, a trend which the agency predicts will continue amid soft demand as developers struggle to reach minimum pre-construction sales required.

This report by The Canadian Press was first published Sept. 26, 2024.

The Canadian Press. All rights reserved.

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Mortgage rule changes will help spark demand, but supply is ‘core’ issue: economist

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TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.

The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.

The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.

CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.

However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.

Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.

This report by The Canadian Press was first published Sept. 17,2024.

The Canadian Press. All rights reserved.

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