Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
MillionAcres
Hoteling — the idea of providing pre-booked short-term space to office workers — has been around for a while, but it has taken on new importance in the wake of COVID-19. Property managers and investors who want to encourage tenants to move in and/or stick around may want to explore how to encourage these methods of adaptable and flexible use of space as companies gradually reoccupy their space with safety top of mind….
Business Wire
NEW YORK–(BUSINESS WIRE)–Doorkee, the all-in-one digital platform offering landlords and tenants a modern solution to the antiquated rental process, today announced that it raised $5.7 million in early-stage funding. The round was led by prominent New York City landlord Simon Baron Development and early-stage venture capital firms Corigin Ventures and Alpha Edison, which both have significant experience investing in proptech startups. Investors in the round also included well-known landlords S…
Crunchbase
Austin-based OJO Labs closed on a $62.5 million round of funding led by Wafra, the company said Wednesday in a release. OJO Labs, founded in 2015, combines human and machine intelligence to provide personalized property recommendations and insights. Breyer Capital, LiveOak Venture Partners, Royal Bank of Canada and Northwestern Mutual Future Ventures also participated in the new round of capital that gives OJO Labs a total raise of $71.5 million, according to Crunchbase data. The company’s last …
The Real Deal
he San Francisco-based company, which leases apartments and turns them into furnished short-term rentals, said it closed a Series E at a $1.3 billion valuation — up from its prior valuation of $1.1 billion.
CREtech
Investors have begun understanding the near and long term implications of the global pandemic on real estate assets and on their portfolios. As leading investors begin to reactivate their investment strategies, many are instituting new standards to invest smarter, increase productivity, and grow their business — resulting in better financials, communication, and management of assets.
Wall Street Journal
As New York City looks to reinvent itself for the post-pandemic era, lower Manhattan offers a few lessons on how to recover from disaster. Once largely a 9-to-5 financial center, the district has changed since the Sept 11, 2001, terrorist attacks into a walkable neighborhood that has more than doubled its residential population. Officials’ determination to transform the area made it more resilient to the sort of economic shocks the entire city now faces: widespread job losses and the threat of p…
Wall Street Journal
Officials overseeing New York’s transit system should consider thermal cameras to take riders’ temperatures and artificial intelligence to assess mask-wearing to combat the spread of the novel coronavirus, a new report says. The report, which was commissioned by the Metropolitan Transportation Authority, offers a range of best practices gleaned from transit systems around the world.
Commercial Observer
Bloomberg
If one thing is certain, it’s that our definition of normal has changed. After months in lockdown to prevent the spread of the coronavirus, cities are reopening — some with masks and social distance, others with still growing numbers of infection. It’s unclear what cities will look like in a year or more, but in many areas the landscape is already starting to shift. …
Commercial Observer
Knotel allegedly owes $169,040 to 25 West 26th Street Inc. — which property records tie to Brooklyn-based Noam Management — after it stopped paying rent from March until June for its 10,000-square-foot space at 25 West 26th Street, between Broadway and Avenue of the Americas, according to the lawsuit filed yesterday in Manhattan Supreme Court.
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