'Owning Manhattan' Jordan March Opens Up About Ryan Serhant Argument

"Owning Manhattan" star Jordan March is providing more clarity on his argument last month with his friend Ryan Serhant ... saying they aren't engaged in any drama ... it's just business.

We caught up with the reality TV star in New York City Wednesday ... and, we had to ask him about the blow-up between him and Serhant on a Manhattan street corner in early December.

Remember -- we obtained video of Jordan and Ryan arguing -- and Serhant told us it was just a disagreement between pals. However, he added there were legal issues involved, so he couldn't comment further.

JM makes it clear to us there's no lawsuit between the two ... and they were simply arguing over equity ... with March believing he deserves to own a percentage of the company since he helped build its infrastructure.

Jordan says egos and expectations can clash when you build something huge ... reiterating this again comes down to ownership and value, not a broken relationship.

Worth noting ... Jordan says the equity conversations were discussed and promised early on ... and, now he's trying to collect on what he feels he's owed.

While he couldn’t get into specifics -- citing ongoing legal matters, as Serhant did -- Jordan confirmed Ryan has put options on the table, and he’s doing the same by presenting his own terms.

For now, he says he’s still there, and both sides are trying to work through it ... though Jordan's also keeping his options open ... so, it seems his future with the company is still up in the air.