Jade Shenker Says Ryan Serhant & Jordan March Fight Wasn't for the Cameras

"Owning Manhattan" star Jade Shenker is dishing out the deets on co-stars Ryan Serhant and Jordan March's heated argument in NYC earlier this month ... and she reveals cameras were not up at the time of the altercation.

Jade hopped on the TMZ "Previously On..." podcast and tells us Netflix is currently "not filming at all" for the show, meaning the fight was as real as it gets. She adds this is not the first time they've had an argument, but it is the first time "9-figure lawsuits are being thrown around" -- though she didn't get into specifics.

Check the clip -- in the video obtained by TMZ, you can see Jade walk down the steps and into the guys' heated convo ... and she tells us all she was thinking in the moment was "please don't throw a punch or don't do anything stupid."

The real estate mogul clarifies that Ryan and Jordan love each other ... they're brothers and actually best friends -- but explains when their life is shared with the world, it adds a new element and emotions run high.

When asked how the fight got resolved, Jade doesn't beat around the bush ... saying "it didn't."

She tells us she had separated the two -- which is shown in our video -- and says Ryan made the right move by getting into a car. Jade adds Jordan was still pretty heated when the argument ended that night.

We spoke with Ryan briefly after the fight, who told us it was nothing but a "disagreement between friends" and that all is "mostly okay" with them now.