Scott Rechler, Matt Boras and Andrew Min
Chairman and CEO; managing director of venture capital activities; senior vice president of strategy and digital initiatives at RXR Realty
Continuing to build its already formidable digital platform, major owner and developer RXR Realty said it remains focused on customer experience and satisfaction through the practical application of technology.
Post-COVID, Scott Rechler’s RXR finds itself doubling down on tenant experience in the residential and office sides to retain residents and bring employees back to the workplace, said Andrew Min, who leads the company’s strategy on digital initiatives.
“The value is obviously different for office and residential. But, at the end of the day, people will see value in the space not just as physical places to work and lead but as experiences,” said Min.
Among other tech initiatives, in the last year RXR has continued to push its digital capabilities envelope through its expanded partnership with Columbia University’s Center for Artificial Intelligence in Business Analytics and FinTech. “This year, they’ve been focused on investment optimization and understanding how to model our neighborhood-level prices,” said Min.
RXR is also growing on the investment side, said Matt Boras, its venture capital lead.
“We continue to expand what we’re doing from an early-stage venture perspective,” Boras said. “That’s noteworthy during a time when the market transaction activity seems to be falling year over year. So we view this as an opportunity to expand what we’re doing with our focus from an investment perspective not only on proptech but construction tech, as well as starting to work with companies at the earliest stages — pre-seed and seed, for example.
“Sometimes that takes the form of us partnering with two entrepreneurs who only have a pitch deck and an idea to build a business,” Boras added. “RXR can provide our space to be a pilot partner or design partner for the products they’re trying to build, while at the same time pairing up with us for investment.
