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Article about sales slump in high end NY real estate.

https://www.wsj.com/articles/the-man-behind-billionaires-row-battles-to-sell-the-worlds-tallest-condo-11547739897

May have to post on social media and click the link there to read the story.

Basically in 2018, Manhattan home sales were down 14%, the highest since 2009.

They profile Gary Barnett, who created "Billionaire's Row" with apts over $60 million.  He's giving discounts but making buyers sign NDAs so they don't disclose what they paid.

But Barnett borrowed money from overseas and built one of the first high-end towers, One57, around 2011 as the economy and market snapped back.  But he marketed to Russians, Arabs and Chinese to sell these expensive apts.

Now, there's a glut of them.  In 2011 there were about 200 real high end apts. available in the market.  In 2019, there are 10 times as many and the number is expected to go up to over 3000.

I guess none of the MDLNY guys work on these $60 million and more apts and certainly not on Billionaire's Row with views of Central Park.  Then again, Russian oligarchs, Chinese with connections to take money out of China and Arab sheiks don't want to be on a Bravo TV show.

However it sounds like other developers drafted behind the high-profile properties that developers like Barnett created and so they're selling properties up to $10-20 million because the high-profile properties lift the prices of everything else.

For instance, in 8 years, average price of ALL properties in Midtown around 57th Street went from $1.2 to about $2.0 million.

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Congratulations to them but are we going to get overloaded with cuts of the baby and the couple in the next season?

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On 3/3/2019 at 11:33 PM, scrb said:

Congratulations to them but are we going to get overloaded with cuts of the baby and the couple in the next season?

No doubt, unfortunately

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39 minutes ago, LucindaWalsh said:

I love that he calls her their little Puff! What did they name her?

Zena

I have to say, I follow Ryan on Instagram* (of which I look at all of once every couple weeks if I think about it) and never saw any mention of them expecting a child. He even posted some more recent pictures (December?) of him and Emilia somewhere tropical and she didn't look pregnant at all to me. I suppose that could be because they are saving it all for the show. 

I follow all of the MDL people on Instagram because I am addicted to real estate porn 🙂

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Wow, Steve Gold and his girlfriend just had a baby. He met the gf last August on a flight to London. That was a pretty immediate pregnancy. 

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Ugh then baby story lines for all 3 of them.

what a snore fest.

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On 6/10/2019 at 8:16 PM, NotChristine said:

Luis is back 🙄

He must need to replenish his traveling around the world doing nothing money. I predict he will leave again after this season. 

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Fredrik has moved his home base to Los Angeles.  He and the family are living in Beverly Hills.  He will commute to NYC when needed.  What this means for his future participation in this show wasn’t announced.  I somehow believe we will see him transition to the LA show.  Might actually be interesting to see how a big time broker changes cities and markets

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5 hours ago, pally said:

Fredrik has moved his home base to Los Angeles.  He and the family are living in Beverly Hills.  He will commute to NYC when needed.  What this means for his future participation in this show wasn’t announced.  I somehow believe we will see him transition to the LA show.  Might actually be interesting to see how a big time broker changes cities and markets

I read about this and he said his NYC real estate business will continue to expand, even though he and his family have now moved to CA. The move will also be shown on the new season. Sounds like he will be jetting around between NYC, Miami and back home to CA. I wonder if he will play a role on both the LA and NYC shows now?

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Doesn't Fredrik also still own his IT company in Sweden?

I'll be interested to see what appeal LA has for him, or them as a family. Maybe it's something Derek wanted? I suppose he can do his artwork anywhere.

Maybe he bought the house that Nate Berkus and Jeremiah Brent sold when they moved back to NYC!

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Supposedly high end NY real estate has kind of crashed or at least stagnated since the last season of the show.

So maybe he's looking to step back for awhile?

If he's made so much money, he may have more interest in familial pursuits.

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Has Fredrik talked about expanding his business into the LA market? If the move was purely personal, maybe the change in scenery and distance away from NYC was a guaranteed way to put some distance between himself and work for the sake of being around his growing family more.  His Connecticut home is/was beautiful but it's still pretty close to the action that should something happen, he could jump in a car and be in the city in a couple of hours. Being in LA means he will need to put more trust in his people to navigate situations without him and I'm sure the weather will be a nice change of pace. If he's looking for more work, well then I take everything else back, lol. 

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3 hours ago, RHJunkie said:

Has Fredrik talked about expanding his business into the LA market? If the move was purely personal, maybe the change in scenery and distance away from NYC was a guaranteed way to put some distance between himself and work for the sake of being around his growing family more.  His Connecticut home is/was beautiful but it's still pretty close to the action that should something happen, he could jump in a car and be in the city in a couple of hours. Being in LA means he will need to put more trust in his people to navigate situations without him and I'm sure the weather will be a nice change of pace. If he's looking for more work, well then I take everything else back, lol. 

He opened up both an LA and Miami office in the last year.  He will be in charge of building up and expanding the LA office and his partner John Gomes will run the NYC office (which has also expanded into Brooklyn).  With the market for high-end luxury real estate crashing in Manhattan, it makes sense for them to expand into other, more stable markets.  It also makes business sense for Fredrik to be the one to head to LA.  He is the one with the name recognition that will help get the publicity needed to build out the client list.

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@pally Thanks that makes sense. I didn't know he had offices outside of NYC so I figured there might be a possibility that he's trying to wean himself off work a bit. Instead, he's taking on more work, lol.

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Just a year or two ago, in the old Media thread, we had stories about how Fred and his partner were working on all these huge projects, like helping to design these towers, using his knowledge and experience of what sold well

So are those projects suspended?  Can't imagine if they started construction on those, that they developers would bail.  Once they start building, they have loans they have to pay off so there's a race to complete them and start selling ASAP.

Now, maybe they determined that they weren't going to get anywhere near the prices they forecasted when they started some of these projects.

Still I can't imagine they'd stop building once they've started.  Maybe they'd have to renegotiate the loans with the banks -- interest rates are lower now than a year ago.

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I think Steve is cute, but I am not expecting his relationship with this woman (who had his baby) to last. As I read it, they met on a plane and three months later she was pregnant. Good luck. And they named the baby Rose Gold which makes me think of rose gold jewelry. Lol. 

I like Luis. I just hope he is happy and feels emotionally stable. I don't want to see him upset and directionless. 

I don't need to see Emilia ever. I love Fredrik.

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On 7/19/2019 at 2:36 PM, Pickles said:

I think Steve is cute, but I am not expecting his relationship with this woman (who had his baby) to last. As I read it, they met on a plane and three months later she was pregnant. Good luck. And they named the baby Rose Gold which makes me think of rose gold jewelry. Lol. 

I like Luis. I just hope he is happy and feels emotionally stable. I don't want to see him upset and directionless. 

I don't need to see Emilia ever. I love Fredrik.

ONE month later...1.5 months tops, lol. They met around the beginning of August 2018 and had their baby at the end of June 2019. Calculating backward, she would have been pregnant around mid-late September of 2018.

I wonder what brought Luis back to real estate in NYC. He's described some pretty dark times so like you mentioned, hope he's in a better place to be doing the show again.

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I like and root for Luis but don't think the show, and maybe even NYC, is necessarily good for him. He puts on a front of being so positive and energized but we've all seen that it's not real at the core. Out of concern, I don't want to watch him being broken and in tears again.

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I can't believe that Fredrick is not reading his listing agreements. You are reqired to....oh well, that was the loss of a large commission.

Isn't the male twin Fredrik's child too? He seems to always hold his daughter and not his son. Why would it matter which child is yours biologically? Your kids are your kids...the same love and attention. I don't get it.

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This was a good episode. Interesting to see the downturn in prices and sales. That listing of Steve's outside of the city. Gosh, it would take a ton of money to make that into something. Fredrik's listing was certainly dated. His children are darling. Ryan's listing next to the highway. Yikes. It is gorgeous inside, but that highway is a deal breaker. Plus, five stories! Lots of stairs. I really enjoy this show.

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Frederick’s commission lapse seems like such a rookie move. It’s actually quite standard to exclude certain categories of buyers for the purpose of commission. I’d really be surprised if Frederick never had such an exclusion clause. Maybe more MDL fake drama.

Ryan’s noisy house was gorgeous. But how did those people ever think it was a good idea to sink so much money into something like that?  

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I enjoyed the episode.  I think the house porn on NY is much better than LA.  There's more variety than mostly white boxes.

Loved the upstate estate but yeah, it would take a ton of money to renovate.

That townhouse in Brooklyn just doesn't work so close to BQE.

I'm not a fan of Fredrick but that civil attorney screwed Fredrick.  Fredrick needs to have his people do better at reading the contracts.

Fredrick's kids are cute.  Congrats to Amelia and Ryan.

Nice to see Luis back. 

I think it will be an interesting season.

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This show is one of my favorites but I confess my main attraction is LUIS. 

So I am feeling pretty used by Bravo for suckering me in with promises of Luis only to have him appear in the last minute of the episode! 

Gotta admit though, when he flashed that smile at the end...swoon!

I do hope he is back for the right reasons though, and not just because he just doesn’t know what else to do with himself. He has really seemed to be struggling and my  sincere wish for him is that he find peace and joy, even if it’s not on my TV screen.

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Isn’t Steve’s new lady an escort or something? And she would’ve already been pregnant in this episode right? Guess he’s gonna reveal it later.

Happy for Ryan and Emilia. Their kid is super cute.

Luis annoys me a bit so I’m not that happy he’s back. The new guy that is coming up seemed really annoying from the previews.

The contract stuff with Fredrick seemed super fake. He seemed to be badly acting in that scene.

I don’t mind a little noise but that was so much noise by that apartment. Isn’t there something they could maybe do to help with the noise? Not sure why those ppl sunk so much money into it.

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Civil rights attorney "Sanford" from last night's episode is the now somewhat disgraced former Al Sharpton crony Sanford Rubenstiein, an aging lothario who was accused of rape and found himself shunned by Sharpton.  He has been involved in many high profile NYC police brutality cases and is known as someone who uses the media to extract valuable settlements.  A real NYC character. Oh, yeah, he was also described in the NY Post as "hung like a cashew."  Kind of skeevy.

These two articles will tell you all you need to know. 

https://www.nytimes.com/2014/10/07/nyregion/accused-of-rape-a-previously-high-decibel-lawyer-goes-silent.html?searchResultPosition=2

No rape charges were filed in the end, but he seems to be slinking into the sunset-

https://nypost.com/2014/10/07/sharpton-lawyer-accused-of-rape-is-hung-like-a-cashew/

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Glad MDLNY is back, but I thought last night's show was 1/2 hour too long.  I got bored during Ryan and Frederik's house parties. 

Glad to see Luis back - I've always had a soft spot for him.  Steve, not so  much...IMO, he always looks like he could use a shower.  Frederick and Ryan are always impeccably dressed when they meet potential clients - Steve looks like he just rolled out of bed and threw on his clothes from the night before.  (But I'm sure that's his "thing").  

So  we have Ryan, Frederik, Steve, Luis and a new agent as well?  A little crowded.   

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The commission scene was such a set up. Even Frederick couldn’t keep a straight face on that. And if it wasn’t a set up, Frederick needs to fire his attorney. The assistant would not be reviewing contracts. All the attorney’s I’ve worked for read every single contract, word for word, even boilerplate. 

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8 hours ago, Marley said:

Isn’t Steve’s new lady an escort or something? And she would’ve already been pregnant in this episode right? Guess he’s gonna reveal it later.

Happy for Ryan and Emilia. Their kid is super cute.

Luis annoys me a bit so I’m not that happy he’s back. The new guy that is coming up seemed really annoying from the previews.

The contract stuff with Fredrick seemed super fake. He seemed to be badly acting in that scene.

I don’t mind a little noise but that was so much noise by that apartment. Isn’t there something they could maybe do to help with the noise? Not sure why those ppl sunk so much money into it.

From NY Post Page Six

https://pagesix.com/2019/08/01/steve-gold-hid-girlfriends-pregnancy-from-million-dollar-listing-co-stars-for-months/

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I follow Frederic and Derek on Instagram and their children are absolutely gorgeous.  They appear to be attached to both kids equally.  The likeness between the boy and Derek is amazing.  And if I could switch lives with a child it would be one of those two kids.  They're already seriously well traveled.  

I loved seeing this group coming together at the end to celebrate their personal lives.  I prefer this to the Josh vs. Josh buffoonery in LA.  Although I like Flag.  And I used to hate Luis, but then he opened up about his depression and I changed my tune.  

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Fredrik is SO the sort of parent who wants a girl so he can dress her up in pretty clothes, fix her hair, play tea party, etc. It's cute.

Happy to see all the guys back and happy that obscene luxury real estate prices are falling. Suck it, rapacious developers!   ;-)

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12 hours ago, SunnyBeBe said:

Isn't the male twin Fredrik's child too? He seems to always hold his daughter and not his son. Why would it matter which child is yours biologically? Your kids are your kids...the same love and attention. I don't get it.

Fredrik always said he wanted a daughter and had the name picked out long before. I hope he treats and loves the boy equally. He said last night the girl is his bio baby and the boy is Derek's. This whole surrogacy thing facinates me and it sounds to me like they are not really twins, just conceived and born at the same time with one surrogate carrying them both? I'm assuming they both have the same mother? The surrogate is not the mother, right? Omg I'm so confused. 

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that house in Brooklyn-- they said their break-even was 9M. It sold in June for 8,990,000. Lot of work for no profit. I hope they counted their carrying costs for the break-even.

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4 hours ago, bichonblitz said:

Fredrik always said he wanted a daughter and had the name picked out long before. I hope he treats and loves the boy equally. He said last night the girl is his bio baby and the boy is Derek's. This whole surrogacy thing facinates me and it sounds to me like they are not really twins, just conceived and born at the same time with one surrogate carrying them both? I'm assuming they both have the same mother? The surrogate is not the mother, right? Omg I'm so confused. 

The girl, Mila is Frederick's biologically, and little Freddy is Derek's biologically. Same egg donor, I think. But none of that negates that they are twins. Twins are simply two children born at the same birth. Even some "naturally" conceived twins have different fathers. I'm not going to fuss about any of it, because they are Derek and Frederick's children, period, full stop, and the circumstances of their birth are pretty irrelevant. 

If you remember the scene of them finding out their surrogate was carrying twins, it is clear they were both extremely loved from the word go. 

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3 minutes ago, xtwheeler said:

because they are Derek and Frederick's children, period, full stop, and the circumstances of their birth are pretty irrelevant. 

I absolutely agree with all that, but I did notice that Fredrik said "Milla is my daughter" and a few minutes later said "Fredrik is our son." I hope that was just a slip of the tongue and not something more deep-seated. He also talked about how Milla is just like him, and Fred is just like Derek. I really wish people in general wouldn't do that kind of stuff. I know everyone does, but it is a sort of "molding" of kids into what you expect them to be like. And lord knows they CHANGE!

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10 minutes ago, xtwheeler said:

Twins are simply two children born at the same birth. Even some "naturally" conceived twins have different fathers. I'm not going to fuss about any of it, because they are Derek and Frederick's children, period, full stop, and the circumstances of their birth are pretty irrelevant. 

If you remember the scene of them finding out their surrogate was carrying twins, it is clear they were both extremely loved from the word go. 

Who's fussing about it? The children are clearly adored. My post was more wondering how it all scientifically happens that you can have twins with 2 different fathers. Nothing more. 

Edited by bichonblitz
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1 minute ago, dleighg said:

I absolutely agree with all that, but I did notice that Fredrik said "Milla is my daughter" and a few minutes later said "Fredrik is our son." I hope that was just a slip of the tongue and not something more deep-seated. He also talked about how Milla is just like him, and Fred is just like Derek. I really wish people in general wouldn't do that kind of stuff. I know everyone does, but it is a sort of "molding" of kids into what you expect them to be like. And lord knows they CHANGE!

You're absolutely right. I have noticed in the past that they seem to pair up Frederick/Mila and Derek/Freddie most often when we see them. I noticed it especially because my SIL had twins and TONS of people asked me, after noticing, "why does she only hold [boychild]"? But, M&F look very loved, so I'm hoping it is something like "filming makes Mila anxious, and Freddie is the 'calm the anxiety' parent." 

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Those kids are adored.  Period.   Go on Instagram and you see Derek holding Mila and Frederick holding little Freddy.   The kids are gorgeous (I have always thought that Derek was the best looking guy on all of Bravo).   They also lead a very fabulous life.   Between the condo in Manhattan, the estate in CT, the new pad in CA, a slew of amazing vacations and tons of adoring family members and friends, those kids are going to have a spectacular life.

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Jeff Lewis could learn a thing about how to treat a surrogate from Fredrik and Derek.  I don’t think you have to maintain a relationship with your surrogate, but the fact that they have and that they understand what she did for them is really nice to see.    

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