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PropTech challenge winners are best for real estate business

Software developers, real estate tech companies, brokers, owners, and investors came together for the Real Estate Board of New York’s (REBNY) PropTech Challenge held at The Rudin Family Project’s Forty One Madison Avenue.

Participants competed for a grand total of $50,000 in cash and prizes across four challenge categories.

The global real estate hackathon culminated in a Demo Day, during New York Real Estate Tech Week 2018, to showcase the top three finalists in each challenge category.

The PropTech Challenge welcomed 44 submissions from 82 participants across the United States and Bulgaria, Canada, Great Britain, Hong Kong, India, Israel, Nigeria, the Philippines, Singapore, Spain, and Zimbabwe.

The following teams were announced as the first place winners in each challenge category at the grand finale of the REBNY PropTech Challenge on November 8:

• Operations & Maintenance Category: Seeing Green by Prescriptive Data is a collection of tenant app features that aim to help building owners and tenants increase occupant engagement. Seeing Green leverages existing features from Prescriptive Data’s NANTUM Tenant Experience app and NANTUM Core and Shell products.

• Architecture, Engineering, Construction and Development Category: StructionSite simplifies construction progress tracking. Using computer vision and machine learning, data from jobsite video recorded with a 360 camera is mapped into a 3D drawing.

• Blockchain (DLS) Category: CredsBlock is a platform that decentralizes identity, builds reputation, and delivers attestation to help seed trust in real estate transactions.

• Commercial Brokerage Category: HomeSpace360 empowers property marketers to create 3D virtual tours, along with 2D photography, directly on a smartphone.

(Back Row) Tom Nguyen, CredsBlock Decentralized Identity; Gurpreet Singh, Chris Demoll, Ali Mehmani, Katie Peters, and Suman Satish of Prescriptive Data’s Seeing Green. (Front Row) Matt Daly, StructionSite; Kin Tsang and Kevin Cheng, Prescriptive Data’s Seeing Green

“The outpouring of interest in the PropTech Challenge from around the world has been overwhelming,” said Sandy Jacolow, Chief Information Officer at Meridian Capital Group, who leads the team that conceptualized and organized the PropTech Challenge.

“This competition supports the growth of tech innovation in the real estate industry by showcasing creativity and fostering relationships. Congratulations to the winners and sincere thanks to all of the judges, finalists, and our sponsors for their participation.”

A judging panel — comprised of REBNY members, industry experts, and sponsors — reviewed all submissions to determine the finalists in each challenge category according to the following criteria: quality of the idea, practical implementation of the idea, quality of submission materials, and potential value to industry.

The panel of judges included: John J. Gilbert, III, Rudin Management Company; Raj Bhatti, Newmark Knight Frank; Patrick O’Shei, NYSERDA; Matthew J. Montanes, JP Morgan Chase; Claire McIntyre, Oxford Properties; Brian Flaherty, Fisher Brothers; Carlos Valverde, Silverstein Properties; Chris Mayer, Suffolk Construction; Alexis McGuffin, Lendlease; Philip Skalaski, The Durst Organization; Nikko Politis, Jamestown; Eric Joshua Thomas, Cushman & Wakefield; Duke Long, PUR Ventures; Mark Domino, The Durst Organization; Robert Entin, Vornado Realty Trust; David Rose, Rose Tech Ventures; and Joe Rich, Related Companies.

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