I have spent my entire career in the Real Estate industry, with the first 13 years being focused on the residential sector.   In 2016, I was introduced to Commercial Real Estate when I was offered the role President of the Northeast for one of the nation's largest and most established Smart Building Technology companies. Stepping into this completely new arena, focusing on Office and Multifamily, my knowledge of the sector was nonexistent.  Eager to learn, I spent my early days absorbing information from industry experts and literally anyone who would speak with me. One of the e ..read more

I have been writing my blog for the past 2 ½ years, and I have been blown away by the amazing support that I received from the PropTech community.  Earlier this year, we crossed the 6,000 subscriber mark, and I would love to double that number in the next 12 months.  My goal from the beginning has always been to publish 1 article per week, but my work schedule has become so crazy over the past few months that I have failed to write any new content since mid-May.  The upside is that we (at my day job at Kastle) have been growing at breakneck speeds, which has been fueled by new p ..read more

The headlines on the state of the Commercial Real Estate industry are downright frightening, and they appear to only be getting worse.  Occupancy is nowhere near pre-pandemic levels, nor is leasing activity.  Skyrocketing interest rates have significantly ratcheted up the pressure on landlords, and with nearly a billion square feet of office leases coming up for renewal in the next 2 years, the level of anxiety is reaching a boiling point.  There will always be demand for ultra premium space in key cities like NYC, Miami, and LA, but these assets account for a tiny sliver of the ..read more

Over the past 2 years, since I started the PropTech Future blog, the sentiment and enthusiasm throughout many areas of the PropTech ecosystem has done a complete 180 degree turn.  We have gone from record amounts of funding and the continuous launch of innovative companies, to one of the most challenging funding environments that I have witnessed in my career.  Skyrocketing interest rates have contributed to these challenges and with the recent collapse of Silicon Valley Bank  (followed by the fire sale of Signature Bank and Credit Suisse), it is clear that there is still a lot ..read more

It’s funny how quickly things can change.  I took some time over the past weekend to read through some of the articles that I published last year.  The topics that I covered varied from article to article, but the underlying theme was consistent.  It was high times in the PropTech industry.  Record amounts of funding were being deployed throughout the Real Estate  ecosystem.  Valuations were sky high, yet somehow they kept going up.  Companies were going public (often through SPACs) at valuations that seemed detached from reality, but since the pace only cont ..read more

The landlord and tenant relationship has changed over time, and we are seeing this shift take place across every real estate asset class.  Real estate was always a transactional business, and between the time that a lease was executed and a potential renewal was negotiated, there was very little communication between parties.  Whether it was a family renting an apartment to live in, or a company leasing an office to house their employees, or a retailer leasing a storefront to sell their goods, as long the space remained in good condition and the rent checks came every month, both par ..read more

In October of 2003, I was officially introduced to the real estate industry.  I started my first post-college job at Realogy (it was named Cendant at the time, and has recently been rebranded as Anywhere).  My first position at the company was as a sales coordinator for their real estate franchise group where I provided administrative support to the teams selling Century 21, Coldwell Banker, and ERA franchises.  Over the six years that I worked for the company my job titles and responsibilities increased to include Manager of Technology, Director of Business Development, Assistant Vice Preside ..read more

The residential real estate services industry is in freefall.  Not a day goes by without news of another mass layoff, a public company announcing a record quarterly loss, or a company permanently shutting their doors.  It’s not just the real estate brokerages that are getting crushed.  The pain has permeated throughout the entire residential ecosystem and its effects are being felt by mortgage companies, appraisers, home inspectors, real estate attorneys, title companies, moving companies, and just about anyone that touches the home buying/selling process.  Within the past ..read more

As new construction in Commercial Real Estate has slowed down considerably since the start of the pandemic, the Multifamily sector has filled its void.  Many of the country’s largest developers have shifted their new construction focus and resources into Multifamily projects.  Interest rates have raised sharply, and with no signs of slowing down, housing has become less affordable; driving more people to rent instead of own.  In order to lure residents to their buildings and increase what they can charge for rent, developers are getting very creative with the amenities that they ..read more

New players enter the PropTech industry all of the time.  Whether they are launching a new spin on existing technology, or an innovative new solution, rarely is it a newsworthy event.  It takes time to execute a go-to-market strategy, and although there will always be early adopters, mass adoption never happens overnight.  However, every once in a while an established company enters the space that has the ability to make a huge splash.  And that is exactly what is occurring with Apple in PropTech. In fairness, Apple has been playing a part in the PropTech industry for years ..read more