What are you hearing

WhatsApp in NYC (Credit: Google)

By Adam Pincus

— WhatsApp deal channels
The digital revolution continues in the real estate information space. Breaking news is now arriving via WhatsApp channels with hundreds of subscribers — or even more — on the distribution lists. The lists cover everything from foreclosure listings to specific asset type sales to ICSC party planning.

This is not a new medium and has been popular overseas for several years, but has been gaining traction with New York City professionals this year.

The decentralized and underground nature of the medium has driven the popularity of such feeds, which distribute to extremely targeted and engaged readers. It builds on other nontraditional channels such as Traded: New York’s popular Instagram feed that has grown to 26,700 followers.

The medium typically allows anyone on the channel to post, giving the lists a freewheeling vibe.

The shift to such methods underscores the inefficiencies of the traditional marketing and distribution pathways such as websites, emails and physical mail.

— Construction slowdown coming
Deal makers say family offices are no longer supplying funds for new hotels because of the M zoning restrictions, and so the number of new hotel projects is expected to decline.

— Multifamily construction may start to pencil out
On the other hand, other real estate insiders say the lower demand from hotels and condominium builders is pushing down pricing which once again may make a new rental building feasible with land falling below $500 per square foot.

Tip me at ap@pincusco.com or give me a call at 718-314-4509.

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