Katie Dunn

It looks like Yardi will bail out WeWork and not Adam Neuner, which would have been a disaster for WeWork and the coworking industry. Sharing the same back-end technology as WeWork might open new opportunities for coworking operators that use Yardi KUBE, and help a new flow of enterprise users coming our way. The new WeWork will emerge out of Chapter 11 healthy, with a strong brand, an executive team with a much higher level of integrity than in the past, but also as a considerably smaller player with only 175 locations or so in the US. To be able to respond to distributed requirements from enterprise accounts and compete with IWG, WeWork will desperately need to partner with multiple coworking operators like Pacific Workplaces, and we will welcome their interest. Conversely, we can benefit from the Wework corporate account capabilities that remain strong, and the Yardi technology infrastructure that could enable the integration of a large ubiquitous network of coworking spaces accessible to Enterprise accounts via seamless and secure access. This could be an exciting new beginning for Wework and many independent operators like Pacific Workplaces. https://lnkd.in/gAXNKKm3 #Wework #Yardi #Coworking #flexoffice #hybridwork Jamie Russo Giovanni Palavicini Andrea Pirrotti-Dranchak (MBA) Kane Willmott scott chambers Mara Hauser Jackie Latragna, MBA Liz Elam Flip Howard Paula Mercer Didier Coppi Michelle Stiegler Amy Fuller Rob Teel Jason R. Anderson    

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Is the future of housing already at our doorstep? Topics include: ✅ The importance of data-driven analysis over prevailing market sentiments ✅ Ivy Zelman reveals her motivation for founding Zelman & Associates ✅ The impact of low turnover and high home prices despite rising interest rates ✅ Ivy explains the dynamics of new home sales versus existing home sales ✅ Ivy predicts a potential softening in the housing market but not a significant meltdown ✅ And other topics…

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Adam Nelson, managing director at FirstMark, told TechCrunch that the opportunity for flipping is enormous. In the U.S., more than 50% of homes are over 40 years old, according to 2023 research from the National Association of Home Builders and “not up to the standard of new homeowners and institutional single-family residential buyers. Founded in late 2020, Backflip offers a service to real estate investors for securing short-term loans. Beyond helping users secure financing, Backflip’s tech also helps investors source, track, comp and evaluate potential investments. “We help investors source properties and curate their pipeline, analyze the deals that they might want to invest in, and hopefully make lower risk, better buying decisions,” CEO and co-founder Josh Ernst told TechCrunch in an interview. Investors can either sell the property and pay back Backflip or refinance and move into a longer-term loan through another lender. We underwrite business plans, assets and people, not just W-2 income… and we provide capital for home renovation and give credit for post-repair valuation,” Ernst said. The company does not currently charge subscription fees. Its business model is to serve as a marketplace for the financial products. It makes money via take rate on the loans on the lending origination business, which it operates by partnering with capital providers. #realestate #houseflipping #rehab #financing

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🏙️ Big shifts in the Manhattan real estate market! 📊 Exciting news for homebuyers and a potential cooldown for renters in the Big Apple! The latest data shows Manhattan's rental market is softening as more people are jumping back into homeownership. Here's the scoop: • Rental demand dropped 39% year-over-year in August 📉 • New lease signings plummeted by 43% compared to last year 📝 • Median rent still high at $4,370, but only up 3.4% from 2022 💰 What's driving this change? Interest rates are stabilizing, and more inventory is hitting the market. As Jonathan Miller, CEO of Miller Samuel, puts it: "The pendulum is swinging back towards homeownership." But don't count out rentals just yet! Despite the slowdown, Manhattan's rental market remains tight with a vacancy rate of just 2.32%. Whether you're looking to buy or rent, now might be the perfect time to make your move in Manhattan! 🏠🗽 #RealEstate #ManhattanMarket #HousingTrends Citations: [1] https://lnkd.in/eVFkn3UV

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Case Study: In Commercial Brokerage, there is often more than meets the eye. And in NYC real estate, this is even more important to know when researching and listing/buying a property for sale. What are deed restrictions? In 2017, I was faced with a major challenge...... More in the comments.

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🌆 The Evolving Landscape of New York City's Office Market 🌆 As we navigate the complexities of the current office market, it's clear that landlords in New York City are facing some tough decisions. Here are some key insights and statistics that highlight the challenges and strategies being employed: Vacancy Rates and Market Uncertainty - Manhattan’s office space is currently 23.5% vacant, with over 10M SF of office occupancy lost in the past 12 months alone. Unlisting Office Space - Between January and September, approximately 8.5M SF of office space has been unlisted from the market, a significant jump from the 3M SF unlisted in the same period in 2019. Strategic Warehousing - Some landlords are opting to warehouse their empty office space, hoping to secure higher rents in a more stable market. As Ethan Silverstein from Cushman & Wakefield noted, "We're not going to assign a lease at the bottom of the market for what is potentially one of the best spaces on Madison Avenue". Conversion and Renovation Challenges - With the rise in vacancy, many landlords are considering conversions or renovations. However, this comes with its own set of challenges, including zoning issues and high construction costs. Ruth Colp-Haber from Wharton Property Advisors pointed out, "These landlords are faced with a Hobson's choice... Either they can take on more debt... or they can let the space lie empty and wait for a better day". Tenant Preferences - Tenants are increasingly favoring Class-A office spaces with modern amenities. In fact, 42% of New York City leasing activity by square footage is concentrated in Class-A space, despite it representing only 15% of the market. Long-Term Strategies - Developers like The Durst Organization are investing heavily in renovations to make their buildings more competitive. For example, Durst invested $150M in the 825 Third Ave. building, resulting in leasing picking up significantly. In the words of Spencer Levine from RAL Cos., "You need to understand your property and manage your expectations... It’s really about having the right expectations and not fooling yourself that pulling this off the market and remarketing it in two years is going to make it something different than it is today". As we look to the future, it's clear that landlords need to be strategic and adaptable to navigate these uncertain times. Whether it's warehousing space, pursuing conversions, or investing in renovations, the key is to remain nimble and focused on what tenants truly value. #OfficeMarket #RealEstate #NewYorkCity #CommercialRealEstate #MarketTrends #ClassAOfficeSpace Feel free to share your thoughts and strategies on how to navigate this evolving market 📢💡

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CRE Climate Impact Investment; Breaking News | Realtor.com (2024) Severe Weather/ Climate Risk Report. Miami's $1,258.0B Climate Impact investment opportunity. quote "Across the top 100 metros, Miami, FL has the highest total value of homes that face severe and extreme risk of heat, followed by Dallas, TX and New York, NY. In addition to big metros in FL and TX, all properties in 17 metros from Florida, Texas, South Carolina, Louisiana and Virginia are at severe or extreme heat risk. In fact, while all homes in Miami are exposed to severe or extreme heat risks, only 2.8% of owner-occupied homes in Miami had solar panels." end-quote. #impact, #climate, #climatetech, #startups, #miami, #florida, #geneva, #newyork, #london, #berlin, #germany, #venturecapital, #privateequity, #vc, #startups, #gold, #stockmarket, #hedgefund, #fixedincome, #weather, #fema, #insurance, #proptech, #realestate Ref 1 of 2 - https://lnkd.in/dA6zdcWy Ref 2 of 2 - https://lnkd.in/dBGUrqbx

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Donald Bren built one of the most successful real estate empires by focusing on long-term value creation. ➡️ He mastered the art of location, prioritizing prime areas that held enduring value. ➡️ His approach emphasized development quality, ensuring projects not only met market demand but exceeded expectations. ➡️ Bren’s portfolio diversified intelligently, blending residential, commercial, and retail assets to maintain stability. ➡️ He prioritized patience, holding onto assets and letting them appreciate over decades instead of flipping for short-term gains. ➡️ His strategy shows that real estate isn’t just about buying and selling—it’s about building communities that last. Real estate success isn’t about luck. It’s about vision, execution, and playing the long game. #DonaldBren #RealEstateStrategy #LongTermWealth #RealEstateInvesting

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NYC’s Department of City Planning recently sent out a survey to make industry voices known on the "City of Yes" proposal. The proposal aims to help build more affordable market rate housing while also giving property owners more flexibility on adapting their real estate to its highest and best use. If you're interested, message me for a copy of the survey. Submit your feedback to [email protected]. #AffordableHousing #RealEstate #NYCPlanning

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Many apartment hunters aren't familiar with coliving as a housing option. Kristian Kotov Kotov wrote an excellent article explaining how coliving can be a better choice for those who would typically consider studio apartments, as it offers more space and amenities for a similar or lower cost. Coliving is all-inclusive, convenient, and more social- while allowing you to maintain your privacy when you want it. Buildings like 525 LINC are so popular precisely because they offer a unique housing solution to those that, for example, are new to a city and want their own space while getting to know others in the city. Everyone has different housing needs, and if you're still searching on your own for an apartment then I highly encourage you to read this article and see if coliving is for you. Please let me know your thoughts in the comments! #BostonApartments #BostonRealEstate #Coliving #Roommates #Allinclusiverenting #RenterTips #BostonApartmentHunting #Amenities #StudioApartments #MostApartments #MostKeys #MostListings #MostLandlords #MostData #MostLeads #MostDeals #MostTrusted #BostonPads

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🚨 NYC Retail Crisis? 🚨 I’ve been walking around NYC and it’s shocking how many prime retail spots are now up for lease! 🏢💔 What’s driving this wave of vacancies? Inflation? Changing consumer habits? Something else? Share your thoughts! 💬👇 #NYCRealEstate #RetailCrisis #Economy #Inflation #RealEstateTrends

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Recap Or Acquisition: We often source LP equity for sponsors in the form of a #recapitalization. Instead of having the LP close on the #acquisition with the sponsor, a recapitalization is performed on an asset that is already under ownership. A key reason why a #sponsor would need to recapitalize (as opposed to selling) is that their current LP on a transaction needs/wants to exit, but they (the GP) still #believe in the deal and would like to continue working it. What's interesting about recaps is that the world is kind of split on how to perceive them. Some LPs #love recaps for the following basic reasons: - sponsor already #owns the deal and knows it inside-out (no worry of finding skeletons...) - the fact that they want to stay in the deal after years of ownership is a sign that there's still #potential to create value - alignment of interest in terms of due-diligence. Limited risk of #fraud by seller, (because the seller is staying in the deal) - clear understanding of operating #expenses - often can #assume fixed rate debt sponsor secured with previous LP Some LPs, however, will absolutely #never touch a recapitalization. Basic reason being: - Sponsor is (often) cashing out and has no real skin in the game to need to #perform well for the new LP - No reason to assume the sponsor is giving a better price to new LP. Not a #clear alignment of interest with either the previous LP or the new one. I personally love recaps, and really enjoy working on them. I'd be curious to see what the investors in my network think about the above discussion. Elijah Brown Eduardo Viesca Rob Beardsley Peter Kling Aryeh Kieffer Clarence Wong, CCIM

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This article was written in March. I don't think anything is better with respect to the NYC office market. If anything, it has become worse. I remember a time when I lived in NYC and I couldn't walk one block without seeing a Pax Deli on a corner and they couldn't even keep up with the demand from office workers. I know of deals being done where Class B office is being bought at 30% of replacement cost. What is the catalyst that will change all of this? Or will it never change and this is the new reality? https://lnkd.in/eGsyqSxK #NYCOfficeMarket #RealEstateTrends #CommercialRealEstate #NYCRealEstate #OfficeSpace #MarketAnalysis #ClassBOffice #RealEstateInvesting #UrbanDevelopment #PropertyMarket #NYCChanges #CommercialProperty #EconomicTrends #RealEstateNews #InvestmentOpportunities #CityLife #MarketShift #RealEstateChallenges #OfficeMarketTrends #NYCProperty

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The rise of Branded Real Estate, as highlighted in this insightful post, represents an exciting shift in the real estate market. From iconic luxury brands like Ritz-Carlton, Aston Martin, and Armani, these developments are not just homes—they’re immersive experiences blending design, lifestyle, and brand identity. At VR-TECHS, we take this vision further by integrating cutting-edge immersive technologies like #VR and #AR to transform how clients engage with branded properties. Imagine virtually exploring and customizing your dream home, experiencing every detail of a branded lifestyle before even stepping inside. With the growing demand for personalized luxury living—from activewear-inspired spaces to wellness-focused designs—our solutions empower developers and brands to deliver unforgettable customer journeys while maximizing their market impact. The future of branded real estate is here, and VR-TECHS is proud to be part of this transformation. #BrandedRealEstate #Innovation #VR #AR #PropTech #LuxuryLifestyle

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The continued purchase of housing by institutional and private equity investors elevates concerns of investment return pressures that result in increased rents and reduced services for tenants. Government regulators and housing officials are also keeping tabs on the influx of big institutional investors building out their single-family rental portfolios. In September, Invitation Homes, the biggest single-family rental operator in the U.S., agreed to pay the Federal Trade Commission $48 million to settle charges related to deceptive rental pricing practices and unfair evictions. #housing #renting #multifamily #privateequity

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Skift recently published that amenities are the "Next Battleground in Short-Term Rentals". I disagree. This is nothing new. It's been a constant in hospitality (nay, humanity). As the short-term rental space grows and professionalizes, then perhaps it fairer to say that operators are starting to grasp this. In the same way that inflation creeps up each year, so do customer expectations. Each year we expect a little more for our money. Greater comfort. More features. Better, faster service. Think back to the homes you've grown up in. Would you go back to the comforts and features of 10, 20, 30, or 40 years ago? I certainly don't miss VCRs or not having AC... I've seen this first hand with my family's hospitality business over the last 42 years and over the last 7 years between my time at Sonder and founding Lodgeur. You can't stand still. What wow'ed your guests in the past is today's table stakes. Staying ahed of the curve is realizing that the curve doesn't sit still. And so you need to keep assessing if you're still where you think you are on that curve. And if you connect the dots, the investment in amenities at a single property has limits - we're already starting to see short-term rental operators investing in boutique resorts where the capex for amenities can be spread across multiple units. And thus, the lines becoming increasingly blurred across different real estate asset classes, from hotels to short-term rentals to multifamily. Because honestly, I wonder about the economics of some of the amenities added to these properties. Are pickleball courts our generation's tennis courts (i.e. they were all the craze and yet sat unused most of the time)? In keeping up with the Jones', there's the risk that instead of differentiation, you've just increased your cost base. A single family home rental has hundreds of purchasing decisions to furnish and equip it. Each dollar invested needs to generate a return on investment. And sometimes the amenities to deliver a great experience don't need to cost much. Is there a charger next to each side of the bed (and somewhere to place your phone)? Is the kitchen equipped in-line with the needs of your guests? Better yet, sometimes you don't even need to spend more - a great looking design can cost the same as 'blah' design. Ultimately it comes down to a clear understanding of your guest personas and market. What impacts their marginal willingness to pay? What do your competitors (or substitutes, e.g. hotels) offer? The article covered that last point very well... https://lnkd.in/gHhMUA9G

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