StraightUp’s Omer Amsel Gives the Latest in NYC Insights
New York City is rightfully dubbed “the city that never sleeps,” and that’s true in all of its industries—including real estate. So as we approach the mid-year mark, we’re catching up on all the noteworthy developments the City has to offer. We sat down with Omer Amsel, co-founder and COO of real estate equity and crowdfunding platform StraightUp to learn more about the City’s 2018 real estate outlook.
Originally another arm of HAP investments before becoming its own entity about a year ago, StraightUp’s mission is to democratize access to funding opportunities in the industry. StraightUp boasts a comprehensive network of good, quality developers, marrying them to the right investors who want to strike out in a market like Manhattan.
StraightUp currently has an exciting new project between Seventh and Eighth Avenues in Chelsea, right next to FIT, as well as a Tribeca Project between Franklin and Broadway, and a Washington Heights development, to name just a few. But the New York real estate scene is not simply a mosaic of individual projects.
“What excites me is not necessarily projects themselves, but how this industry as a whole is going through changes,” Amsel said. “Creating transparency, lowering costs, and including investors is what we’ve been working toward the most.”
That being said, if you’re looking for a neighborhood with a positive outlook, according to Amsel, there’s a lot of success right now in East Harlem and the Lower East Side. “Chelsea is also very up-and-coming,” added Amsel. “Because of its rezoning, we feel like it’s a market and neighborhood with a very good climate in terms of prices.”
And technology has made these properties more accessible than ever. With statistics available online and AI facilitating both the construction and underwriting spheres, the real estate world is approaching a whole other level.
“Everywhere you look and everything you touch is being disrupted and transformed by technology,” said Amsel. “Real estate is not a dinosaur of an industry—it is capable of change—if you work from the ground up and with developers.”
That being said, the real estate landscape in Manhattan has been uncharacteristically quiet so far in 2018. “I think the most surprising thing so far this year has been how unsurprising it is,” commented Amsel. “Especially given the various political and economic influences.”
But even if something were to happen in the coming year, Amsel is confident in the City’s endurance. “I’m very confident that New York will always be the quickest to bounce back, no matter the circumstance.”
Here’s hoping that, despite the ups and downs, the City will indeed keep bouncing back.
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