MR Residential — November 2016
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Zach Ehrlich

Transforming How New York Does Real Estate

"I look up to guys like Steve Wynn, Ian Schrager and even Walt Disney–anybody who was able to build something that created a new kind of environment."

Especially in a city like New York, filled with Type A personalities, finding the perfect living space for one's client is no small feat. As a broker, it requires patience, creativity, an acute understanding of the market as well as having the right tools to ensure each transaction is done flawlessly in any scenario.

For Zach Ehrlich, founder and CEO of Mdrn.–a fully-integrated real estate firm launched three years ago and comprising several business lines including Mdrn. Residential, the luxury residential real estate brokerage and management firm–carefully aligning these elements to ensure optimal satisfaction is what he and his 40-plus member team are all about.

And with Mdrn. Residential a presence in practically every Manhattan neighborhood and year-over-year revenue that has tripled every year since its inception, this meticulous attention to detail has handsomely paid off. In the process, Mdrn. Residential has also made a name for itself as a leading industry player that is slowly transforming the traditional, often inflexible, business model of how New York typically does real estate.

"If you look at the landscape in Manhattan, you have a lot of big firms that more or less dominate and hold market share even though there are virtually no differentiators except for maybe some price points and the management style," says Zach.

So how is Mdrn. upping the ante aside from its hip name? By offering a fully integrated, one-stop suite of residential sales and leasing services. In addition to offering property management, the firm also offers an in-house concierge team for clients and agents that includes brand design and marketing services. Not only does this give agents a leg up when it comes to having customized team-branding logos and websites built for listings at their disposal with fewer administrative hassles, it also greatly enhances their ability to focus on finding new listings and improving sales.

As Zach sees it, "What's happening in the brokerage industry is that much capital is being allocated for various tech products and it's a scenario that will lead to disruption over a longer term. The status quo is never going to be the status quo again and our goal is to capitalize on that."

Born in Manhattan and raised in Merrick, Long Island, Zach–who is only 27 but whose passion and self-confidence makes him seem much older–was a teenager who regularly made trips into Manhattan to explore new neighborhoods and the buildings that comprised them.

"The skyline was obviously a very powerful symbol whenever I came in, reminisces Zach. "I also read about and looked up to guys like Steve Wynn, Ian Schrager and even Walt Disney–anybody who was able to build something that created a new kind of environment."

When it came time for college, not surprisingly he majored in real estate and economics at NYU, from which he graduated in 2011. Even before that, however, he began his career at DDG Partners when he was just 19. There he was able to gain experience in virtually every area of development, from acquisitions and project management to sales and marketing.

A fast learner, Zach quickly rose through the ranks and oversaw the sales and marketing of $500 million worth of luxury real estate in New York and San Francisco before striking out on his own.

Now, in addition to running the successful brokerage arm of Mdrn., Zach has recently formed a new app platform-based company called Stoop, which is currently in beta, with a launch slated for some time in 2017. It will allow local residents to build an online community through communication, gain access to local neighborhood events and businesses, and eventually offer seamless integration with a building's management company and staff. How's that for upping the ante?

Also in Zach's future plans are firm expansion, recruitment and increased real estate acquisitions–all the while continuing to pursue his outside interests, which include travel, city exploration and volunteering for a number of community organizations, such as Friends of the Israel Defense Forces (FIDF), The Greenburger Center and UJA-Federation of New York.

Zach Ehrlich, Founder & CEO
Mdrn. Residential
900 Broadway, 4th Floor
New York, NY 10003
Office: 646-582-6925
Mobile: 917-633-6890
zae@mdrn-group.com
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