2023 Spring Issue - 73
deals than previously, with 30 percent fewer errors in
underwriting and due diligence, Sroka says. Dealpath
initially focused narrowly on single-tenant net lease
retail transactions then gradually expanded to other
property types, including multifamily residential, and
into development projects and financing.
" Investors have become more sophisticated, "
notes Craig Leibowitz, the New York-based director
of innovation and insight advisory for real estate services
firm Avison Young, which has a proptech analytics
platform that its employees use to help clients
acquire and manage multifamily residential assets.
" There's a much greater reliance upon data science
and analytics to inform a decision, " he says. Avison
Young enables its clients to dig deep into details,
including the proximity of a multifamily building to
nearby office towers, recreation, green spaces, dining,
and nightlife. By adding that information to core real
estate fundamentals, " you have a pretty dynamic
picture of where some of those opportunities may
reside, " he says.
At the business-to-consumer level, Calgary,
Canada-based Ownly, which has been compared to
a real estate version of Shopify, focuses on streamlining
home purchases and enabling homebuyers to do
everything from securing a mortgage to choosing the
architectural style and even pick out details such as
cabinetry and flooring on a single platform. Cofounder
and chief executive officer Jason Hardy sees what he
calls " a massive opportunity " in streamlining the sale
of units in multifamily buildings, which has been hurt
by recent economic conditions in which buyers are
harder to come by and may have difficulty qualifying
for mortgages.
" The piece that we're really focused upon right
now is providing real-time insights into the buying
power and capability of a potential buyer, and then
giving that power to the seller, " Hardy says. " It allows
them to deal with what we call 'verified buyers.' "
Polling to Guide Developers' Decisions
James Moore, cofounder and chief operating officer
of Washington, D.C.-based proptech startup RCKRBX,
thinks multifamily residential developers making
decisions about what to build too often are forced
to rely on backwards-looking data-marketplace
trends detailing how an area or specific buildings in
that area performed. " A lot of the development in
software has been building better mousetraps to help
people get new insights out of very similar data, "
he says.
RCKRBX aims to disrupt the multifamily residential
segment by taking a radically different approach-
applying the sort of opinion research techniques used
by political campaigns.
SPRING 2023
URBAN LAND
73
A developer can use
the polling data in
RCKRBX's platform to
look at a geographic area
and see how a project
would appeal to survey
participants there.
COURTESY OF RCKRBX
2023 Spring Issue
Table of Contents for the Digital Edition of 2023 Spring Issue
2023 Spring Issue - Cover1
2023 Spring Issue - Cover2
2023 Spring Issue - 1
2023 Spring Issue - 2
2023 Spring Issue - 3
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2023 Spring Issue - Cover3
2023 Spring Issue - Cover4
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2024-fall-issue-of-urban-land
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2024-spring-issue-of-urban-land
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https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2022-winter-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2022FallIssue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2022-summer-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/2022-spring-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/ulm-winter-2022
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/summer-issue-2021
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/uli-spring-2021-issue
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/ULIWinter2021
https://www.nxtbook.com/urbanlandinstitute/UrbanLand/URBANLANDFALL2020
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