Reality TV star Ryan Serhant of 'Million Dollar Listing New York' hoping for record sale in Delray Beach

Former television reality star and celebrity Realtor Ryan Serhant was in Palm Beach County late last month to promote a luxury estate in Delray Beach that would break a sales record if it fetches near its asking price of of $49.9 million.

Serhant, who starred on the Emmy-nominated "Million Dollar Listing New York," opened an office of his firm Serhant. in Delray Beach in May with local Realtor Christian Prakas as the managing broker.

The 7-bedroom, 15-bathroom oceanfront home at 526 North Ocean Boulevard last sold in February for a recorded $22 million, making the $49.9 million list price a 127% increase in just seven months.

But Prakas said the unique home, which has air-conditioned parking for up to 20 vehicles and 150 feet of ocean frontage, was previously marketed without an extensive 2020 remodel that combined the main house with an estimated 4,000-square-foot guest house. Leonard "Lenny" Felberbaum, the Broker/Owner of Engel & Völkers Delray Beach, is co-listing the home.

The Off Centered Design Group, based in West Palm Beach, spent three years working in the home to choose the finishes, plumbing, appliances, custom millwork and furniture.

Also, the previous sale included "other considerations."

"The owner had passed away and his family sold the house, which we really, really believe was sold well under market value," Prakas said. "The buyer came in with a cash deal and a very fast close date."

Prakas said the current sales price record in Delray Beach is $34 million, although there are properties on the market for sale for $59.9 million and $74 million.

Serhant, who was one of three Realtors followed by the Bravo TV series for nine seasons before it was canceled in 2021, visits South Florida about every other month to meet with agents and promote properties, Prakas said. His parents live on Singer Island in a $5.8 million condominium bought in July 2021, according to the Plam Beach County Property Appraiser.

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"When he comes down, it's just three to four days of constant going, going, going," Prakas said. "It's a whirlwind of activities for a week."

Serhant, who is looking to expand with offices in Boca Raton, northern Palm Beach County, and Fort Lauderdale, founded his firm in New York in the fall of 2020.

"It was just a matter of time before we planted our flag there," Serhant said in an April interview about Palm Beach County. "South Florida is obviously a great complementary market to our headquarters and the business we have in New York."

And Serhant was already doing notable real estate deals in Palm Beach County.

In 2021, he co-represented the buyer of the beachfront home at 535 N. County Road in Palm Beach, which set the record for the highest residential sale on the island at a recorded $122.7 million. That sale was surpassed in March with the $155 million sale of the former Palm Beach compound of the late Rush Limbaugh.

While in South Florida last month, Serhant launched his marketing campaign for Wynd Miami, a new luxury residential, office and retail development in the bustling arts community of Wynwood.

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Prakas said Serhant filmed videos and made social media posts for the Delray Beach home.

"It's a massive advantage having him," Prakas said. "When we meet with sellers they want to know that he's involved in the project, and he's 100% dedicated to making sure that South Florida is a huge success."

Another reality television star, Mauricio Umansky, who is married to Kyle Richards of the "Real Housewives of Beverly Hills", opened a branch of his real estate firm called the Agency in Palm Beach Gardens in January. He moved the office to the Town of Palm Beach in the spring.

Serhant did run into some trouble with rival Palm Beach County brokerage Sutter & Nugent, which filed a lawsuit in May alleging two of its former agents took trade secrets with them when they joined Serhant's Delray Beach office. The case was filed against Serhant Florida, llc, and agents Matthew Moser and Nicholas Gonzalez. Serhant Florida and the agents have denied the allegations and filed motions to dismiss the case.

Kimberly Miller is a veteran 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. 

This article originally appeared on Palm Beach Post: Million Dollar Listing New York star Ryan Serhant in South Florida selling luxury homes