Tricia Lee has been that girl. Long before she wowed Netflix audiences with her enviable style, likable personality and keen business savvy on the hit show Owning Manhattan, which was just renewed for a second season, she was giving her grade school classmates makeovers in the bathroom. As she was growing, so was her entrepreneurial spirit. “In college I did makeup for other students before parties in my dorm room,” Lee recalls with a chuckle. She continues, “I’ve always wanted to be an entrepreneur.”
Lee, who is of Jamaican ancestry, was born in Brooklyn, NY, raised in Arizona and after college, returned to The Big Apple, where she’s resided for the past 23 years. A proud member of Alpha Kappa Alpha Sorority, Inc., Lee aspired to work in the beauty and fashion fields – and she did. After climbing her way up at beauty giant Estée Lauder, Lee joined cult makeup fave MAC Cosmetics in the early days of the brand’s existence and quickly rose up the ranks there as well. Then in 2005, Lee opened The Polish Bar in the heart of Brooklyn. Her chic nail salon also offered its hip clients waxing, makeup and eyelash services. By 2016, Lee was anxious to try her hand in a new field: real estate. The petite powerhouse closed her beauty business to pursue real estate full-time and focus on learning her new craft. Her drive paid off. Eight years later she is winning the hearts of people across the globe on Netflix’s Owning Manhattan.
We managed to sneak in a chat with the astute businesswoman about her bold career moves, the realities of working with her husband – it ain’t always easy – and the surprising ways buying property is more attainable than most of us realize.
ESSENCE: Congratulations on the success of Owning Manhattan! The show was ranked in the top 10 in over 40 countries worldwide. What has your feedback been since the show’s debut?TRICIA LEE: Most of the feedback is ‘I need to see more of you! They’re not showing you enough.’ It does get to me sometimes because it is not my show. It’s Ryan’s [Serhant] show. My family, people close to me, they are not surprised by the show and the public feedback I am getting. I’ve also learned that I’m very good on camera. [laughs]
ESSENCE: We learned on Owning Manhattan that you work with your husband, Jeffrey St. Arromand. The two of you were even guests on The Breakfast Club! What is it like building a business with your spouse?
LEE: I think we could do a far better job at keeping work and our marriage separate. We don’t have it all figured out yet. We have set some boundaries. But it’s hard. I don’t want to be the boss all the time. I want to be soft too. I don’t want to have to choose. I try to compartmentalize. In terms of the pros, we’re kind of like ying and yang. Jeff is more inquisitive. He picks up on the energy of a buyer or seller. Whereas if I walk into a home, I’m immediately looking at the interiors and the aesthetics. I’m like, ‘Oh that has to change. Or, this has to change.’ He’s not looking at that stuff. When a client works with us, they’re getting two different strengths but only paying for one.
ESSENCE: You are such a refreshing representation of a successful Black woman on reality television. How does that make you feel?
LEE: Honestly, I wanted to just be free to be myself. You’re going to see a little attitude. You’re going to see humor. You’re going to see softness. You’re going to see all of that because that’s all of who I am. I’m going to talk my sh*t because I have all the reasons in the world to be confident. I’m going to be nervous sometimes too because I’m starting to take on parts of this business that are new to me. I can’t control how people perceive me. That’s not on me. I don’t want to own that. I think it’s great that people have received me so well. I think it is better that I’m not living or dying by that as most people would.
ESSENCE: Amen! Speaking of women and ownership, what are some creative ways we can enter the real estate game with less-than-ideal finances or resources?
LEE: What does it cost you to wait on ownership? More single women now buy homes than single men. Imagine that. Forty years ago, we couldn’t even get a mortgage without a man’s signature. So, home ownership should be looked at as just as much about asset building as where you live. Sometimes though, we want to check off other goals first. Like, you want to get married, you want to have a baby, and then you want to buy the home. Well, what does that waiting cost you in a real estate conversation?
When we as women look at purchasing real estate as asset building, we’re more likely to do it with our mom, our sister, our friend. So maybe you can’t afford a Bed-Stuy brownstone by yourself. But maybe you and I can buy it together. Maybe in 5 years, we have 2 or 3 of them. Too often we devalue our own communities. But we’re seeing a revitalization in places like Detroit and Baltimore. Thankfully, people are starting to figure it out. Don’t underestimate starting where you are.
ESSENCE: Please share more tips for people who are interested in entering the home buying process for the first time.
LEE: Credit, cash and criteria! How is your credit? How much cash do you have to not only put down but to cover closing costs. Criteria: You need to know what your wants and needs are going to cost you realistically. With home buying, your budget makes the decisions. What’s your criteria for must haves and negotiables? For example, the first thing I usually ask my clients: What is your timeline? 2 months or 2 years? What’s your criteria? House type (condo, single family, multi-family), size, price and location. Here’s a hint…Budget and location are the real questions here.
ESSENCE: How does one know when they’re ready to start their home buying search?
LEE: If you don’t know when you will be ready to buy a home, but it is a shorter-term goal (18 months or so) then connect with a mortgage lender to do a financial assessment. You need to know what you can save in that time, what you can afford to borrow based on your credit and income. You will have a plan of action. The home search starts when you’re ready to shop.
ESSENCE: We’re hearing buzz about non-traditional 40-year mortgages. Thoughts?
LEE: 40-year mortgages can work, especially if you intend to buy and hold for some length of time. It can offset monthly carrying charges drastically. This is so helpful with current rates, but also allows you to purchase more home at a more manageable monthly cost. It’s a yes, so long as you intend to hold for a while.
ESSENCE: You are passionate about empowering women, particularly Black women, in a myriad of ways. How can people stay informed about your upcoming projects?
LEE: Yes, the next Money Matters with Tricia Lee event is coming up in the fall of this year at Serhant [in New York City]. I also host a luxury event called Dinner in Noir. People can follow me on social media for updates at @lovetricialee.
