As the first female lead to star on Million Dollar Listing New York, Kirsten Jordan knows how to bust a glass ceiling. The power broker, mother of three and Manhattan maven checks in to give us the real deal.
What do you love most about real estate? I love the thrill of the complicated deal (especially the hairy ones). It’s exciting! When they start to go sideways, it’s like putting a puzzle together, and that’s due to my unique set of experiences. I thrive in those situations. The relationships I have with agents in the industry are integral to my success—because they are also my clients. Many think that we are all competitive with one another, but in most cases, we must collaborate to get the biggest deals done!
What is the most unexpected or funniest thing to happen while filming so far? Anytime I film with my kids, it is hysterical. They still have no idea what the cameras are doing, and they are so silly.
How would you summarize the N.Y. real estate market right now? The market is extreme. There are pockets of bidding wars in the A neighborhoods and an inventory surplus in the B neighborhoods, which have been overdeveloped expecting to get $2,000 per square foot. These prime areas are seeing rapid absorption as we speak, and soon enough, we will see faster absorption.
What future trends do you predict for the market? Inventory in Manhattan is dipping below 7,000 per sources as of today. This is so exciting! We foresee a strong rebound in the very near future, so reduction in negotiability as well as number of days on the market. This will further reduce shadow inventory. Space on the island is finite, restaurants are establishing themselves in up-and-coming neighborhoods, and as a result, buyers are starting to consider expanding their search to new neighborhoods.
What areas are hot to buy now do you think? Chelsea, Kips Bay and Turtle Bay, West Chelsea and in and around Grand Central.
Any other unexpected or surprising real estate trends emerging? Parking spaces in new developments are trading faster than we have ever seen in the past. There is a parking scarcity, and it is about to become even more extreme as garages are converted to new developments. My team is successfully selling parking spaces on the Upper East Side in the 60s, and we are seeing tremendous traction!
What is up next for you? My most exciting new project is a five-unit building in the East Village across from the Botanical Garden on 6th Street. Every apartment has unique finishes, and no two plans are the same. It is a true gem and will come to market at the perfect moment this summer.