Real estate revolution: How NYC tech is transforming one of the city’s biggest industries

by Katie Fustich
May 8, 2018

The years may come and go, but New York City continues to be one of the hottest real estate markets in the world. Storefronts, lofts and penthouses change hands in the blink of an eye. While this rapid-fire regimen leaves plenty of room for error, the New York City tech scene is on the case of remedying the city’s real estate woes. Built In NYC has rounded up some of the top tech companies who have made it their mission to make real estate more transparent, accessible and forward-thinking.

Real Estate
image via shutterstock

Founded: 2013

Funding: $17 million

How they’re changing the market: Roomi offers its users a peer-to-peer marketplace that allows them to connect with potential roommates. Gone are the days of shrugging your shoulders and moving in with your creepy second cousin — or that even creepier guy from Craigslist. Roomi helps those with a spare room, or those looking to find a new co-living situation, meet, get vetted and have peace of mind.

 

Founded: 2011

Funding: $110 million

How they’re changing the market: VTS helps landlords and brokers in the commercial real estate world take control over their properties through a centralized asset management platform. The VTS platform works to both attract new tenants and maintain existing tenant relationships.

 

Founded: 2014

Funding: $133 million

How they’re changing the market: In New York City, real estate is one of the most lucrative investments one can make. Yet, it’s also a world that’s difficult to explore and understand. That’s where Cadre steps in, a real estate investment platform working to clear the smoke and mirrors and give individuals unprecedented access into the real estate investment world.

 

Real Estate
image via shutterstock

Founded: 2014

Funding: $45 million

How they’re changing the market: Better does mortgages for the 21st century. The company builds easy-to-understand mortgages with its accessible online platform. Rather than stacks of unreadable paperwork, Better’s mortgages aim to be transparent, digital and user-friendly.

 

Founded: 2004

Funding: $96 million

How they’re changing the market: Zillow is one of the most trusted names in home and apartment-finding in the world. Unlike other sites that specialize in specific cities or neighborhoods, Zillow works to create an ever-expanding, global map of residences for sale or rent.

 

Founded: 2012

Funding: $69 million

How they’re changing the market: We live in the age of home-sharing — and Breather is bringing that ethos to office spaces by creating private and distraction-free environments that are available to rent for as little as an hour or as long as several months. Breather is creating peaceful workspaces around the world with more than 500 locations.

 

Real Estate
image via shutterstock

Founded: 2011

Funding: $42.8 million

How they’re changing the market: The Honest Buildings project management platform helps commercial real-estate developers centralize projects and provide transparent data to individuals like stakeholders, design teams and more. By bringing this new level of transparency to the industry, Honest Buildings hopes to set a new standard in the relationship between real estate developers and local communities.

 

Founded: 2016

Funding: N/A

How they’re changing the market: Many of the city’s best restaurants are closed until 5 p.m. or later. During the day, Spacious helps transform them into cool co-working spaces complete with Wi-Fi, coffee and trained staff. The result is a monetary infusion that helps restaurants beat sky-high rents, and offer beautiful, unexpected office spaces to the city’s workforce.

 

Founded: 2016

Funding: $4 million

How they’re changing the market: Domio takes the worry out of home-sharing by offering a hand-selected, carefully curated assortment of short-term rental properties across the United States. Each rental is powered by Domio’s concierge team, allowing guests to feel the luxury and safety of a hotel while enjoying the intimacy of a home.  

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