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Go behind the scenes with Inman’s Dani Vanderboegh to get the answers to all your burning questions on the newest releases. Stay tuned to Real Tea, the intersection of real estate and reality TV.
Ryan Serhant’s return to reality TV is official. Unlike Million Dollar Listing, where Serhant got his start, this show is solely focused on his eponymously named brokerage, SERHANT, and it’s on Netflix, rather than Bravo.
The show follows 11 New York City SERHANT agents with various experience levels at the less than 5-year-old brokerage, which boasts bespoke penthouses, new developments and a reality TV-seasoned leader. From there, the drama ensues, but within the folds of real estate, unlike other real estate reality TV shows, as Inman’s Lillian Dickerson pointed out.
If you’re not yet acquainted with the brand new cast, read “Meet the SERHANT. agents on Netflix’s ‘Owning Manhattan.’”
But if you’re ready to rehash some of the most memorable storylines of the season, read on.
Spoiler Alert: Here’s your fair warning that there will be spoilers below.
The rookie’s rough road
If you are a real estate agent, you probably can relate to young Savannah Gowarty. As the season kicks off, she’s the newest agent of the cast.
“Savannah is one of our newest agents. She’s a Southern belle,” Ryan Serhant says in a poor imitation of a Southern accent. “I saw a unique personality in her, a real hunger to survive and thrive. And so I told her that she could join our firm under what we call our Apprentice Program.”
Because Serhant saw potential in her, Gowarty left the custom homebuilder she worked for and moved to the Big Apple. This is a far cry from the slower-paced life she’s used to in North Carolina, where, as she points out to her colleague Jessica Markowski, you hear birds and cicadas when dining outdoors at a patio restaurant, as opposed to the traffic and noise pollution that’s inescapable in NYC.
She’s already experiencing a bit of culture shock as she acclimates to the city, and she’s swimming in rentals while trying to prove she’s got the tenacity to do more.
“New York real estate is just a completely different animal, but I came to the city because I want to build an empire,” Savvannah Gowarty says.
“My goal at SERHANT. is to work my way up and sell multimillion-dollar properties. But right now, because I’m new to New York City, I have to start with rentals,” the newbie tells viewers.
She adds. “I could have easily stayed in North Carolina, but I wanted more for myself, and I know I can make it here.”
As Gowarty struggles to get leads, Jessica Markowski — who describes herself as a Kim Kardashian and Ryan Serhant all rolled up into one — offers to let her help. (Markowski previously worked at a company founded by Kardashian.) She tells Gowarty that she has a ton of clients and would love some help, seemingly the beginning of a beautiful partnership (more on that later).
Owning Manhattan. (L to R) Savannah Gowarty, Chloe Tucker Caine and Jessica Markowski from episode 105 of Owning Manhattan. Credit: Courtesy of Netflix/© 2024 Netflix, Inc.
All of her frustrations of not being able to get leads (and make money) and shady co-workers build, and finally, Gowarty asks to have a personal conversation with Serhant, the CEO who’s struggling with the growing pains of turning a team into a 600-agent brokerage.
The conversation is awkward, simply due to Gowarty’s inexperience and Serhant’s responses. Throughout the conversation, Serhant vacillates between looking uncomfortable and terrified that she might cry; she did not.
She lets him know that she’s actively being recruited by another company that’s offering her guaranteed salary for a few months and deal flow, an offer she tells Serhant that other agents are telling her she’d be stupid not to take. She then asks Serhant, what would he do if he were in her shoes.
“I’d stick with the winning ticket,” Serhant tells her. “You going with another team and another firm that is giving you something nice and shiny is betting on them. You staying here is betting on yourself. And that’s a decision that only you can make.”
“We’ve had, like, one one-on-one [meeting] since I’ve been here. I just, I would like more attention from you,” she tells Serhant, who scoffs a bit and laughs before turning back to her dead serious face. Gowarty continues, “I know I have potential. I’m fully confident that I’m going to be very successful at this. But if I stayed here, I need more deal flow. If I could be on a team here that was producing enough to save me a little bit more, I would stay in a heartbeat. I want to know if you would be able to offer that.”
At that moment, Serhant tells her that it takes time to build relationships and that he thinks that she might have some unrealistic expectations about how quickly her career is supposed to go.
“Things take time. If you want a little bit more one-on-one time with me, that’s what I’m here for,” Serhant says. “But this is not the company where you come for a handout.”
In a confessional, Serhant reveals more about what he was thinking at the time: “This is a two-way street. I don’t owe you anything. I’ve got hundreds of agents who are doing business every day that I actually do feel like I owe something to. And to then come to me and say, I’ve got another offer unless you give me stuff. Uh, OK.”
Spoiler alert: Gowarty is no longer at SERHANT. She is currently working with Elevated Advisement, a team under Compass.
Let’s give Gowarty some credit here. She had the courage to go to her boss and ask for what she wanted, even though she may not have fully understood the nature of real estate work. Despite the drama between her, Markowski, and another agent, she handled the situation with grace. This drama reaches a boiling point in the next significant moment.
The infamous podcast
Initially, Markowski offered to assist Gowarty, but their dynamic changes quickly as Markowski aligns herself with former model Jonathan Nørmølle. Nørmølle, who boasts about his early success in real estate, takes offense when Gowarty expresses a desire to work with more experienced agents.
In Episode 4, tensions rise as Nørmølle sends a harsh email to Gowarty and ignores her response. This leads to a confrontation during podcast planning.
During the podcast discussion, Nørmølle brags about his achievements, to which Gowarty responds confidently. Despite their differences, they agree not to work together moving forward.
Following this, Markowski and Nørmølle create a podcast where they criticize their colleagues, including Gowarty. This leads to a confrontation between Serhant and Nørmølle, where Serhant emphasizes the importance of professionalism and positive representation.
In a rather uncomfortable conversation, Serhant makes it clear that associating with negativity reflects poorly on everyone involved. Nørmølle is given an ultimatum to apologize to Gowarty and remove the podcast content.
In typical reality TV fashion, Nørmølle delivers a less-than-satisfactory apology to Gowarty. He apologizes to her, but then reveals that he is only doing so because Serhant instructed him to. Following this, he proceeds to lecture her on her behavior. After a series of incidents where he wasted time and did not follow Serhant’s instructions, Serhant decides to part ways with Nørmølle, stating that he believes she has the potential for a successful career, just not with his company. Spoiler alert: Jonathan Nørmølle is now with The NextGen Team at Highline Residential.
In a plant smackdown, newbie Chloe Tucker Caine beats veteran Nile Lundgren in a competition to win a listing. Despite Lundgren’s experience, Tucker Caine’s thorough research and pitch win her the listing with a $600,000 commission. Lundgren gracefully accepts the loss, stating that in real estate, you have to move on quickly. Tucker Caine throws a successful launch party for the listing, ultimately securing a rental offer for $150,000 a month.
While this wasn’t Lundgren’s win, he does have a successful deal where he brings a buyer for Serhant’s apartment, negotiating a deal from a $10.2 million offer to an $11.2 million agreement. Lundgren, in his excitement, enthusiastically high-fives Serhant, inadvertently slapping his undoubtedly expensive watch. Spoiler alert: The $150,000-per-month rental went to Bad Bunny.
Serhant offers a $10 million commission to whoever brings the buyer for the most expensive apartment in the world. The listing is now at $195 million. Tricia Lee impresses Serhant with her success in Brooklyn and aims to break into Manhattan.
Serhant is impressed by Lee’s sales skills and offers her the opportunity to sell a new development in Brooklyn before moving on to Manhattan. By the end of the season, Lee receives a Cartier watch as a reward for her hard work. Serhant emphasizes the importance of expressing love and gratitude to his top salespeople, comparing it to treating them well and showing appreciation, similar to dating. He acknowledges the need to ensure his team feels valued and happy, seeking feedback on how he can improve as a boss. Lee highlights the issue of lacking face time with Serhant, indicating a desire for more inclusion in his inner circle, a goal he has been striving for throughout the season. Tricia Lee’s move to Manhattan signals a bright future ahead. By the end of the season, she has most of Brooklyn Point sold out and secures future collaborations with the developer. Additionally, she receives a brownstone in Manhattan from Serhant. The season concludes with Serhant leaving his own party for a meeting that leads to him acquiring Roman Roy’s apartment from Succession and the remaining $300 million in inventory in the building. Share your favorite moments from Owning Manhattan in the comments below. Connect with Dani Vanderboegh via email, Instagram, or Facebook.