When it comes to hobbies, New York’s real estate executives show strong herd instincts. Everyone plays golf, everyone has a boat, everyone spends summer weekends in the Hamptons. And in 2017, seemingly everyone invests in real estate tech startups.
A few weeks ago, news broke that Brookfield Property Partners and Rudin Ventures, the tech investment arm of the Rudin family, led a $13 million Series B funding round for construction management tech platform Honest Buildings.
Brookfield previously invested in Convene, a startup that manages conference rooms and common space in office buildings. Rudin previously bought stakes in real estate tech startups Radiator Labs and Latch, according to Crunchbase. And there are many others: the Blackstone Group invested in VTS; Newmark Knight Frank and Barry Sternlicht invested in Hightower (which later merged with VTS); Jared Kushner backed Cadre and WiredScore; CBRE invested in LiquidSpace, Yardi and UniKey Technologies. And the LeFrak family invested in Common, Bowery and Dealpath. I could go on and on and on.