Technology has the ability to transform any industry at a moment’s notice. In just a few short years, technology has revolutionized the entertainment industry and advancements in mobile technology could change the way we use computers and cell phones in the near future.
Although these are the typical industries that one thinks about when discussing technological advancements, great strides are being made in a variety of other industries as well, including real estate.
Here is a list of the hottest real estate startups in NYC and how they are leveraging technology and innovation to fuel the future of the real estate industry.
CompStak is a comprehensive commercial real estate platform that details all of the pertinent information surrounding a particular property and target market. The software was developed in order to provide industry professionals with all the comparable sales data that they need in order to get deals done.
The company is providing data such as:
- Property Address
- Current Tenants
- Sub market
- Asset Type
- Transaction Date
- Transaction Size
- Transaction Amount
According to CEO and Cofounder, Michael Mandel, by partnering with brokers nationwide, CompStak is able to gather pertinent property data that is inaccessible to most professionals and instantly makes it accessible to its platform members.
Up to date CompStak raised $14.4M from 18 investors, including Cannan partners and Camber Creek.
Being dubbed as the “LinkedIn for the Real Estate Industry”, Honest Buildings was developed by founder Riggs Kubiak, who grew frustrated with the inefficient process of finding real estate contractors and vendors for projects.
Honest Buildings is a web platform that connects various real estate professionals and vendors, such as:
Up to date Honest Buildings raised $17.3M from 7 investors, including Thrive Capital and RockPort Capital.
In the world of real estate, being able to view and experience a property is a huge selling point. Floored is an innovative start-up that is using its proprietary technology to make high-resolution, multidimensional scans of any real estate space, where interior or exterior. This 3D modeling allows users to experience a virtual tour of the layout and characteristics of a particular space without physically being present on site.
Up to date Floored raised $7.4M from 9 investors, including RRE Ventures and Felcies Ventures.
Already operating in 14 major markets across the United States, VTS is on its way to becoming the industry standard in Commercial Real Estate technology. VTS’s video content works in tandem with the data it accumulates, providing real-time portfolio statistics to its users, which simplifies the leasing process. The platform allows landlords and brokers to keep track of current and prospective tenants across large portfolios. Landlords can track how space performs and zero in on inefficiencies, while brokers can help landlords market available space, find new tenants, and keep track of their deals in the cloud. Clients include Jamestown Properties, SL Green Realty and Vornado Realty Trust, as well as brokerages such as CBRE and JLL.
Up to date VTS raised $32M from 9 investors, including Blackstone group and OpenView Venture Partners