In the face of a daunting real estate market characterized by mortgage interest rates hovering around 7%, limited housing inventory, and escalating home prices, a celebrity real estate expert is advocating for a strategic shift.
Jade Shenker, a licensed real estate agent for the SERHANT. firm and the new star of Netflixs New York City-based real estate reality show, Owning Manhattan, is urging prospective buyers to consider commercial real estate.
According to The New York Post, Shenker believes that commercial real estate is the superior investment in the current market. Right now, its like a giant Black Friday sale. Its a buyers market. Things are really trading at almost 40%, 50% market value, she told Fox News Digital. She further emphasized the adaptability of the economy and the potential for transformation inherent in commercial real estate. Theres never been a 20-year period where something stays the same. And with commercial real estate, you have the ability to transform a building into something else. I mean, you can subdivide it, you can market it to different types of users I think usability is more vast when it comes to commercial real estate in general.
Commercial real estate typically encompasses properties with more than four units, including multifamily homes or apartment buildings with at least five units, large residential rental properties, or real estate used for business activities. Shenker is not alone in her endorsement of commercial real estate as a promising investment. Bruce Mosler, Cushman & Wakefield Global Brokerage Chairman, has previously expressed optimism about the sector's future, stating that demand is increasing and quality space remains highly sought after.
Shenker, who has been recognized as a Top 30 Under 30 real estate industry disruptor and advisor, is on a mission to reinvigorate the real estate industry amid market challenges. Since founding SERHANT.s commercial division, she has managed over $650 million in luxury assets and has been instrumental in restructuring, repositioning, and re-marketing projects. The 28-year-old has also embraced innovative marketing techniques, including the use of music videos to showcase properties.
Shenker's innovative approach to marketing is a testament to her belief in the need for the commercial real estate sector to adapt to changing times. Technology and marketing changes over time. And for some reason, commercial real estate hasnt adapted to the new marketing techniques of being able to put a property in front of the eyes globally," she said. Shenker has leveraged SERHANT.'s in-house cinema-quality production studio to produce music videos for listings, collaborating with renowned artists from around the world to showcase properties in a unique and engaging way.
Despite recent reports from Fannie Mae indicating that only 14% of consumers believe it's a good time to buy a home, Shenker remains optimistic about the enduring allure of real estate ownership. She asserts that owning a piece of real estate remains a universal dream, not just an American one. America is a melting pot. You can come here, and, no matter where youre from, and if you have a dream, its possible for you, she said.
Shenker's innovative approach to commercial real estate and her unwavering belief in the dream of property ownership are now on display for Netflix subscribers. In Owning Manhattan, viewers can watch Shenker, real estate legend Ryan Serhant, and a cast of agents navigate the glamorous world of New York City real estate, bringing a fresh and exciting perspective to the industry.
Login