Jacob Frydman Discusses the Role of Technology in Commercial Real Estate Market

According to worldwide management consulting firm McKinsey & Company, virtually every modern industry is experiencing some form of digital disruption. Historically, commercial real estate (CRE) has sustained a culture of cautious strategies and resistance to major change, yet in today’s world new technologies and digitalization are increasingly being embraced as assets by even the most staunch market conservatives. Internationally-renowned investment consultant Jacob Frydman talks about the role new technologies play in reshaping the present and the future of the CRE industry. Despite the growing trend for consumers to shop via ecommerce platforms, retail rent pricing in major cities across the globe remains sky high. In the United States, commercial real estate is estimated to be the country’s largest economic asset with $24.14 billion invested in the first half of 2018 alone. This behemoth industry offers vast opportunities for digitalization and as such, has attracted ecommerce platforms such as Ten-X which aims to fundamentally change the experience of investing in CRE. The company has processed over $20 billion in CRE transactions since its launch in 2009 and works towards simplifying and streamlining the work of brokers worldwide. Ten-X is not alone in the scramble to align with a business niche that generates nearly $1 trillion in revenues annually. Inspired by the success of Airbnb and WeWork, venture investors deployed over $5 billion in 2017 to engineer software and platforms with an aim to revolutionizing the CRE market as we know it. 

Jacob Frydman is a leading real estate investor and consultant based in New York City. He graduated from Boston University with a B.S. in Finance and a J.D from Case Western Reserve University School of Law. Mr. Frydman is a frequent guest speaker at the New York Law School and at Columbia University where he lectures on real estate and finance. He has gained international recognition through his successful investment portfolio of property development projects implemented over the last 30 years and valued at over $2 billion USD. He is also a dedicated philanthropist and generous contributor to various charitable organizations. Over the years he has been an avid supporter of the National Committee for Furtherance of Jewish Education, Chabad of Duchess Country and the Brem Foundation of Washington, DC.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman