Ryan Serhant Takes Moral High Ground on Brokerage Business

Ryan Serhant took aim at a longstanding New York City residential brokerage player while touting the importance of principles in business.

Speaking onstage at his brokerage’s annual Sell It event, Serhant appeared to describe a meeting 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 used to be a place you would go to, but the CEO of that company made all his money selling cigarettes, predominantly to kids in the South, and no one else cared,” Serhant told the crowd, according to a video posted to social media over the weekend. Serhant’s Sell It event was held in Denver Sept. 24 and 25.

The star broker and founder of the eponymous firm appeared to reference Lorber’s stake in tobacco giant Liggett Group.

Lorber worked as a consultant to the company from 1994 to 2001, before taking a corporate ownership stake in the company through his role as president and CEO of Vector Group, Liggett’s parent company. (Vector was also Elliman’s parent company before the brokerage spun off and debuted as a public company in 2021.)

Serhant appeared to be referencing Liggett’s 1997 settlement of state-level class-action lawsuits, wherein the company admitted that tobacco giants targeted teenagers in their advertising.

It’s unclear when the meeting with Lorber took place. As of 2011, Lorber reported $36.13 million in salary and bonuses, including $3.27 million from his stake in Liggett, distributions to Vector shareholders and earnings as a 50 percent owner of then-Douglas Elliman Realty.

Serhant then described Lorber’s office, formerly located on the 52nd floor of 712 Fifth Avenue, where the brokerage maintains an office.

“I remember meeting with him, and he had a gun in his office at Fifth Avenue, which I thought was nuts,” Serhant said. The Real Deal could not independently verify if Lorber, a known hunter, had a gun in his office.

Serhant said Lorber summed up his approach as “business is business.”

“I don’t think I can do this. I don’t think I can work for you,” Serhant said in the video. “And you’ve made all of your money selling hot dogs and cigarettes to kids.”

The comment appears to be a reference to Lorber’s time as executive chairman of Nathan’s Famous, the food brand known for its all-beef “kosher style” hot dogs made famous in part by the Fourth of July contest held in Coney Island.

A representative for Lorber did not immediately respond to a request for comment.

“I think sometimes putting purpose and mission in front of cash makes all the difference,” Serhant said.

The Instagram post containing the video of Serhant’s comments drew mixed reactions, with some questioning the criticism of a retired CEO.

“Howard retired years ago and I love hot dogs 🌭 plus he was a great guy that cared about his agents,” @bethwithelliman wrote.

“No guns in his office. Maybe a basketball signed by the Knicks,” @joshsellsny commented.

Serhant built his business as a New York City broker with Nest Seekers International, which he joined in 2008 before leaving to launch his brokerage in 2020.

He has risen in the New York City residential ranks since. TRD’s most recent annual ranking of firms based on closed deals for Manhattan properties placed Serhant in sixth place, with more than $945 million in sales volume across 285 deals. Elliman claimed third place with just over $5.2 billion across 1,988 deals.

The comments come as Serhant’s brokerage is in expansion mode, announcing this week a Chicago outpost with 40 agents from some of the city’s top names.