Ryan Serhant took goal at a longstanding New York Metropolis residential brokerage participant whereas touting the significance of ideas in enterprise.
Talking onstage at his brokerage’s annual Promote It occasion, Serhant appeared to explain a gathering he had with Douglas Elliman’s former CEO and chairman, Howard Lorber, who stepped down from the firm in 2024 after more than 20 years.
“There was a spot you’d go to, however the CEO of that firm made all his cash promoting cigarettes, predominantly to children within the South, and nobody else cared,” Serhant informed the gang, in response to a video posted to social media over the weekend. Serhant’s Promote It occasion was held in Denver Sept. 24 and 25.
The star dealer and founding father of the eponymous agency appeared to reference Lorber’s stake in tobacco large Liggett Group.
Lorber worked as a consultant to the corporate from 1994 to 2001, earlier than taking a company possession stake within the firm via his position as president and CEO of Vector Group, Liggett’s mother or father firm. (Vector was additionally Elliman’s mother or father firm earlier than the brokerage spun off and debuted as a public company in 2021.)
Serhant gave the impression to be referencing Liggett’s 1997 settlement of state-level class-action lawsuits, whereby the company admitted that tobacco giants focused youngsters of their promoting.
It’s unclear when the assembly with Lorber occurred. As of 2011, Lorber reported $36.13 million in wage and bonuses, together with $3.27 million from his stake in Liggett, distributions to Vector shareholders and earnings as a 50 % proprietor of then-Douglas Elliman Realty.
Serhant then described Lorber’s workplace, previously positioned on the 52nd ground of 712 Fifth Avenue, the place the brokerage maintains an workplace.
“I bear in mind assembly with him, and he had a gun in his workplace at Fifth Avenue, which I assumed was nuts,” Serhant mentioned. The Actual Deal couldn’t independently confirm if Lorber, a identified hunter, had a gun in his workplace.
Serhant mentioned Lorber summed up his method as “enterprise is enterprise.”
“I don’t assume I can do that. I don’t assume I can be just right for you,” Serhant mentioned within the video. “And also you’ve made your entire cash promoting scorching canines and cigarettes to children.”
The remark seems to be a reference to Lorber’s time as govt chairman of Nathan’s Well-known, the meals model identified for its all-beef “kosher type” scorching canines made well-known partially by the Fourth of July contest held in Coney Island.
A consultant for Lorber didn’t instantly reply to a request for remark.
“I feel typically placing function and mission in entrance of money makes all of the distinction,” Serhant mentioned.
The Instagram submit containing the video of Serhant’s feedback drew blended reactions, with some questioning the criticism of a retired CEO.
“Howard retired years in the past and I really like scorching canines 🌭 plus he was an important man that cared about his brokers,” @bethwithelliman wrote.
“No weapons in his workplace. Possibly a basketball signed by the Knicks,” @joshsellsny commented.
Serhant constructed his enterprise as a New York Metropolis dealer with Nest Seekers Worldwide, which he joined in 2008 earlier than leaving to launch his brokerage in 2020.
He has risen within the New York Metropolis residential ranks since. TRD’s most recent annual ranking of corporations based mostly on closed offers for Manhattan properties positioned Serhant in sixth place, with greater than $945 million in gross sales quantity throughout 285 offers. Elliman claimed third place with simply over $5.2 billion throughout 1,988 offers.
The feedback come as Serhant’s brokerage is in enlargement mode, saying this week a Chicago outpost with 40 agents from among the metropolis’s prime names.
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