Netflix real estate expert urges buyers in new direction that could disrupt entire housing market

As Ross Gellar yelled, “pivot!”With mortgage interest rates hovering around 7%, prospective buyers are facing a challenging landscape with limited housing inventory and escalating home prices to boot.But one celebrity real estate expert and the new star of Netflix’s only New York City-based real estate reality show, “Owning Manhattan” — helmed by real estate icon Ryan Serhant — is urging those looking to buy in a new direction: commercial.“I think commercial real estate is the better investment overall,” Jade Shenker, a licensed real estate agent for the SERHANT.firm, told Fox News Digital.

“Right now, it’s like a giant Black Friday sale.It’s a buyer’s market.

Things are really trading at almost 40%, 50% market value.”“The economy’s always adapting,” she added.“There’s 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 refers to any property with more than four units.

The definition could apply to a multifamily home or apartment building with at least five units, or to large residential rental properties.It can also be classified as real estate used for business activities.Shenker’s not the only real estate expert to point to commercial real estate as the better investment for those who can afford it.

Cushman & Wakefield Global Brokerage Chairman Bruce Mosler previously told FOX Business that the sector’s future is “looking bright.”“We’re actually seeing demand increase this year.I think we all acknowledge that in the [Manhattan] commercial sector, we have some obsolescence.

But, by and large, we have to recognize that when it comes to quality space… we’re seeing demand remain very high.”Shenker,�...