Serhant, a luxury residential real estate firm known for its appearance on Netflix's Owning Manhattan, announced its expansion into Arizona last Monday. The firm, led by Ryan Serhant, made over $500 million in sales last year and has a team of 58 agents. Todd Lee, the firm's designated broker, said, "Serhant is a media company that sells real estate," as reported by ABC 15. The firm is currently operating out of a Regus office at 24th Street and East Camelback Road while looking for a permanent location in the Camelback corridor.

Serhant is expanding into Arizona's luxury real estate market, with Todd Lee stating, "You're in the middle of Biltmore, Arcadia, Paradise Valley." The Phoenix metro's luxury market has remained steady, supported by out-of-state buyers. Lee is leading the Arizona venture, along with Serhant’s team of agents, including the Santistevan Group, who closed $94 million in sales in 2024. The team plans to maintain a "boutique atmosphere" while growing to 150 agents in the local market, according to Business Journal.

The decision to expand into Arizona was influenced by Stephanie Bray, a member of Serhant's Sell It community, who created a video presentation on the Phoenix luxury market. Her efforts helped attract agents who reached $170 million in sales before the firm's official launch in the state. Serhant, which operates in over 12 locations, is now focusing on expanding beyond the East Coast and South to take advantage of Arizona's growing luxury real estate market.