AgentBrokerage

AREA, founded by members of real estate dynasty, is latest real estate tech accelerator

Three members of the Rose family are behind AREA
  • AREA is at least the third real estate startup accelerator to debut in the last year and a half.
  • Three members of the Rose family, a New York City real estate dynasty, are behind the venture.
  • Open house app Spacio is part of AREA's latest class, while BrokerlessNY belonged to a previous cohort.

Here’s one sign investors are hot for real estate tech: A new real estate accelerator found and recruited one startup off social media. John Henry, program director of real estate tech accelerator AREA, said he's “proactively sourcing" startups. He uncovered Spacio, an app designed to help agents milk open houses for more leads, by surfing Twitter. Spacio is one of six startups to join the the latest class of AREA, at least the third real estate tech startup accelerator to publicly debut in the last year or so. The founders of AREA are members of one of New York City's most prominent real estate dynasties, the Roses. And they hold the same conviction as entrepreneurs that have launched similar accelerators: that the real industry is tantalizingly ripe for innovation. Many startups have taken a crack at real estate, with those that link arms with the industry tending to fare better than others. But from Henry's perspective, the sector “has generall...