Ryan Serhant of ‘Million Dollar Listing’ opens second Palm Beach County office
Developer renovating historic homes in West Palm Beach neighborhoods
Real estate developer renovating historic homes in West Palm neighborhoods
Celebrity Realtor and reality TV star Ryan Serhant is opening his second office in Palm Beach County after adding 50 agents to his local roster and surpassing $300 million in closed sales over the past year.
Serhant, who starred in the Emmy-nominated “Million Dollar Listing New York” series and has a new show on Netflix called “Owning Manhattan,” launched a Delray Beach office of the firm Serhant. (the period is part of the name) in the spring of 2023.
He is scheduled to open his second office Aug. 1 at Harbourside Place in Jupiter.
“We have proven that we aren’t just the new kids on the block in Palm Beach County, we are continuing to grow with top producing agents and setting record sales prices,” said Christian Prakas, the opening broker of Serhant. in Delray Beach. “We are thrilled with the success we’ve had so far.”
Prakas, who built the Delray Beach office from scratch, said the Jupiter office will open with 15 agents.
“We have already added some great people that were exposed to us via the show and we’ve signed three new listings this week due to seller’s seeing what we do best via Netflix,” Prakas said.
Serhant, who was one of three New York Realtors followed by the Bravo TV series “Million Dollar Listing,” founded Serhant. in the fall of 2020. He now has 600 agents and announced last year he was expanding into seven East Coast markets, including South Florida.
The new Netflix show “Owning Manhattan” follows a handful of Serhant. agents — from novices to seasoned professionals — as they hawk high-rise condominiums, apartments and townhomes in the competitive world of luxury listings.
Ryan Serhant opens office in Delray: Bravo TV real estate celebrity joins ‘Beverly Hills Housewives’ star in move to Palm Beach County
Serhant said last year that Palm Beach County was an obvious next step for his firm.
In 2021, he co-represented the buyer of the beachfront home at 535 N. County Road in Palm Beach, which set the record at the time for the highest residential sale on the island at a recorded $122.7 million.
That sale has since been surpassed with the current record of $170 million for an oceanfront Palm Beach estate at 598 N. County Road.
Serhant also noted West Palm Beach as a growing market.
“West Palm has become the new epicenter for large multi-billion-dollar financial institutions that have migrated to South Florida within the last three years,” Serhant said in an email to The Palm Beach Post last year. “We are experiencing a massive growth that is directly correlated with the real estate explosion on Palm Beach Island, and the migration to the Wall Street South.”
West Palm Beach and Palm Beach experienced a 93% increase in millionaires between 2013 and 2023, ranking the two cities third nationwide in this year’s Henley & Partners USA Wealth Report.
“The Serhant name has helped us build immediate credibility with clients,” said Nicholas Gonzalez, who is a founding agent in the Delray Beach office. “He is super involved in his business and it’s so cool that we can go on a listing appointment and if we need him to make the seller feel comfortable, he’s easily accessible.”
Gonzalez said while home sales have cooled since the frenzied early days of the pandemic, a specialized development division at Serhant. assembles branding packages for new projects to help its agents boost sales. The division worked with Gonzalez and his colleague Matthew Moser to market the Siréne Villas in Delray Beach, which are selling for between $5.3 million and $5.5 million. Gonzalez said Serhant. will “create a whole vibe” around a project whether it’s a new single-family home or multi-unit development.
“They are taking the same method they use to sell 400-unit buildings in New York City and applying it here,” Gonzalez said.
Serhant, whose new Jupiter office is at 114 N. Coastal Way, is one of at least three real estate agents doing business in Palm Beach County whose reputations were boosted by reality television shows.
Mauricio Umansky, who appeared on the “Real Housewives of Beverly Hills” and now has his own Netflix series “Buying Beverly Hills,” opened a Palm Beach office of his firm The Agency in 2023. Umansky is separated from “Real Housewives of Beverly Hills” star Kyle Richards.
More: ‘Million Dollar Listing’ star Fredrik Eklund moved to Miami as South Florida real estate booms
Fredrik Eklund, who co-starred with Serhant on “Million Dollar Listing New York”, opened an office of his Eklund Gomes Team at the Jupiter Yacht Club shortly before the COVID-19 pandemic.
Eklund, who has since moved to Miami after a stint in California, said in an interview earlier this year that he was drawn to Florida because of the number of new developments. Last year, the Eklund Gomes Team had $3.77 billion in total transactions from agents in New York, California, Texas and Florida.
“In LA, there just wasn’t a lot of new construction,” Eklund said.
Serhant, who is 6-foot-3, and Eklund, who is 6-foot-5, had a competitive — sometimes contentious — relationship on “Million Dollar Listing.”
In Jupiter, their offices will be less than a mile from each other.
“I think there will be some natural competition between the two offices,” Gonzalez said.
Kimberly Miller is a journalist for The Palm Beach Post, part of the USA Today Network of Florida. She covers real estate and how growth affects South Florida’s environment. Subscribe to The Dirt for a weekly real estate roundup. If you have news tips, please send them to kmiller@pbpost.com. Help support our local journalism, subscribe today.
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