Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Bloomberg
To get around Madrid, Javier Wassmann used to wake up in the morning, grab his smartphone and start searching car-sharing apps to find a ride to work. Then came the coronavirus. “Now I don’t want to use a car without knowing how long ago someone else was in it, if that person was wearing a mask or perhaps coughed on the steering wheel,” said the 37-year-old engineer in the Spanish capital, where
The New York Times
Fifteen years before the coronavirus pandemic abruptly forced most companies to let employees work from home, Matt Mullenweg relied on a company without an office.
Forbes
Lyric, a short-term rental startup that raised $180 million from Airbnb and other investors, has shuttered all but one of its locations, making it the latest travel company to be defeated by the Covid-19 pandemic. San Francisco-based Lyric will now shift focus to software tools including an existing pricing tool for accommodation, two people familiar with the matter tell Forbes. With the move, Lyric is now all but abandoning its initial mission of providing furnished short-term rental units to b…
Wall Street Journal
When Matt Wells returned to the office in mid-April, he was surprised to see a note pinned to a colleague’s cubicle urging people to keep their distance. “I thought it was an overreaction” to the coronavirus pandemic, he said. Now he has a note just like it on his cubicle. He also has strung a chain of paper clips across the opening to discourage visitors from stepping inside.
TechCrunch
After aggressive cost-cutting measures, including mass layoffs and selling several of its businesses, WeWork’s chairman expects the company to have positive cash flow in 2021. Marcelo Claure, who became WeWork’s chairman after co-founder Adam Neumann resigned as chief executive officer last fall, told the Financial Times that the co-working space startup is on target to meet its goal, set in February, of reaching operating profitability by the end of next year….
The Real Deal
SBA data show the New York City proptech investor got a loan between $150,000 and $350,000. … “It would’ve been much worse for us had we not received a PPP loan to help us to sustain through this pandemic,” co-founder Jesse DePinto said. …
The Real Deal
The Keyes Company is partnering with EasyKnock, a sale-leaseback startup, to give its agents another tool to offer sellers. “We have a low inventory and there is some hesitation for people to sell their home because they’re not sure they can buy another home,” said Mike Pappas, president and CEO of Keyes.
CNBC
With online sales proliferating during the coronavirus pandemic, the U.S. is going to need more warehouses to store hoards of boxes and handle those orders. Holed up at home, and with many bricks-and-mortar stores temporarily shut, shoppers have turned to their computers and smartphones to buy everything from fresh groceries to new home furnishings to pet toys. And even after the pandemic subsides, the trend of people buying more and more online is expected to stick around….
Real Estate Weekly
New Jersey-based Onyx Equities has unveiled a bold plan to create one of the north east’s first “smart office campuses” to attract big office users adapting to the post-COVID world. The company has issued as RFP to turn its WestPark property in White Plains into the anchor for a new Innovation Corridor flush with next-level technology, including AI and IoT, autonomous vehicles, sustainable and healthy buildings.
PlaceTech.
Since the start of the year, the commercial real estate acquisition and asset management platform, has secured Avignon, Oxenwood, Cordatus, Dunmoore, Global Gate Capital and Caisson Real Estate. Additionally, following engagement with its users, Coyote has launched new tools on the platform, including an enhanced portfolio analysis function that enables users to filter their assets by tenant, at unit-level.
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