Rising Stars of Real Estate Are Focused on Future of Office and Algo Pricing
Hello! Dan DeFrancescoNervously checking in from NYC before the big US Iran World Cup game.
Today we have stories about the latest casualty of the FTX debacle, a deep dive on a terrifying financial product PE firms are cooking up, how one college athlete has racked up more than $250,000 in endorsement deals.
First, let me tell you about some properties I think you’ll love.
1. The rising stars of real estate.
There are many ties between Wall Street & real estate.
Blackstone’s or not big bets on warehousesAnd single-family homes, financial firms rethinking their office spaceWall Streeters, or? spending millions on high-profile homesThere are deep ties between the two worlds.
It’s fitting that we highlight Insider’s. third-annual list of rising stars in real estate.
Insider reviewed more than 100 nominations and analyzed our reporters’ deep Rolodexes to identify the top 30 young professionals in residential or commercial real estate.
Hana R. Albers, Insider’s real estate deputy editor, was my guide to what stood out on this year’s list. Two of the main themes — the future of the office and home-pricing algorithms — are near and dear to Wall Street’s heart.
Executives at financial firms are constantly discussing the former. Some want to get employees back to work, while others attempt to understand how a hybrid approach can impact company culture. The second boils down to trying tech to automate or innovate a key part of the business. Wall Street is an expert in this area.
Hana chose a few people Hana found particularly relevant to our audience.
Megan LeMense (34), a former WeWorker, is currently thinking about the future office in her role as Raise Commercial Real Estate. Sam Stone, 34 has his eyes on the future, especially one that is more digital. He is the director for product management, pricing and data products at the ailing iBuyer OpenDoor.
Blackstone would not be on any real-estate list if it didn’t include it. Kanaai Shah is the youngest member in the class, at 23 years old. He is focused on affordable housing investments to the large investment firm.
Our list doesn’t only include those who make a lot of money. Maya Abood (34), is a housing and planning analyst for the City of Los Angeles Housing Department. She works on everything from an Eviction Defense Program to establishing a plan of community housing.
In other news:
2. According to a new lawsuit Leon Black was charged with raping a woman in Jeffrey Epstein’s mansion. According to Reuters, the suit against Apollo Global Management cofounder and billionaire is seeking damages for sexual abuse and intentional infliction emotional distress. Read more here.
3. Another one takes the cake. BlockFi is the latest crypto company to be affected by the FTX crisis. Monday saw the filing of Chapter 11 bankruptcy by the crypto lender. According to the Financial Times, the filing was made just hours after the filing. BlockFi also sued a holding company for Sam Bankman-FriedRobinhood shares for sale This is what we know so far.
4. There is more to marijuana than just weed. Companies that grow cannabis are looking to increase their stock prices by expanding into beer and other sports drinks. Top executives explain why they’re pivoting and what could be next.
5. RIP crypto. Mizuho analyst Dan Dolev claimed that “crypto is dead” during a CNBC interview. He also stated that rival exchanges will not see a rise in the wake FTX’s demise. Here’s why he’s so bearish.
6. It’s not only college athletes who are able to cash in on endorsement deals. Jon Seaton was an Elon University walk-on football player, but he has still managed to make more than $250,000 through deals. This is how he did it.
7. Let me introduce you to a financial product which should scare you. Private-equity firms can buy shares in distressed companies to make them appear more powerful by establishing collateralized fund obligations. (Sound familiar?) Check out this deep dive from the Financial Times to learn more.
8. Protests are breaking out across China over China’s “zero COVID” policy. Experts offered their opinions on the possible responses that the Chinese government might choose. This is what they said.
9. Consider renting her West Village townhouse for the Swiftie in you life. Taylor Swift’s song, “Cornelia Street”, is a reference the three-story home that is currently on the market for $45,000 per month. Take a peek inside.
10. Just in case life wasn’t difficult enough, the world’s largest active volcano just erupted. Here’s the latest on Hawaii’s Mauna Loa going off.
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