Avraham Glattman explains how technology within the real estate industry is thriving in New York City.

1. Real Estate Tech to
Thrive in New York
A V R A H A M G L A T T M A N

2. WITH RECENT DEVELOPMENTS LIKE NEW YORK
CITY’S BEING NAMED THE #1 TECHNOLOGY CITY IN
THE UNITED STATES, IT’S NO SURPRISE THAT TECH
COMPANIES ARE SWARMING TO THE BIG APPLE.
This migration has been further bolstered by the construction of MetaProp’s
‘PropTech Place‘, a Manhattan-based facility designed to serve as a central hub
for real estate tech development in the city.

3. Although the phrase ‘real estate technology’ calls to
mind carpets that vacuum themselves and houses that
ask about your day, the truth is simpler and more viable
– real estate technology is based in informational
technology and the economics of social media, utilizing
a broad sounding board of interested customers to gear
the industry towards the public’s desires.

4. Previous beacons of real estate technology
included companies like Zillow, working to
make the processes we’d already
established for decades more efficient – but
new advances in real estate technology
are projected to develop new systems
entirely, working to optimize the way we
look for rentals and purchase homes.

5. New York City is one of the world’s most viable locations for real estate
technology to thrive because of the intense density of population and the
receptiveness of the populace to public discourse – companies like Google and
Facebook are expected to move into New York City within the next few years,
filling the void that tech giant Amazon left after they abandoned their plans for a
new New York City headquarters in 2019.

6. In addition to the opportunities for New York
City to advance the very technology of the
real estate world, there’s potential that New
York City itself will see sizable investment by
tech companies seeking to develop locations
and hire employees in the city proper. We
can expect to see New York City thriving in
the years to come, especially if the tech
industry’s surge continues.

7. PropTech is one major component of
that projected success – this hub
serves a vital purpose by calling
together tech professionals to one
location, also offering educational
workshops and museum-style
displays that spread knowledge about
the world of real estate technology.
With any luck, PropTech will fuel the
surge of real estate technology and
maintain New York City’s status as a
growing center for technology.