Prodigy Network

Daily Link Fix

cobble hill, trader joe's, Battle of Brooklyn, general george washington
  • Have you ever noticed the flag atop Trader Joe’s in Cobble Hill? Here’s the reason why the chain store flies the flag. [DNAinfo]
  • Feeding your suburban-mall-food craving, Focus Brands (parent company to Carvel, Cinnabon and Auntie Anne’s) will now be delivering in the city starting this week. [CNN Money]
  • A timeline of how Empire Stores went from a cargo warehouse in 1868 to the present development site. [Brownstoner]
  • For their “Stats and the City 2015” series, Crain’s looks at “the mother of all megaprojects,” Hudson Yards [Crain’s]
  • With projects like +Pool and 17 John Cotel, how does crowdfunding play into architecture? [ArchDaily]
  • This sleek portable desk by Baine & Fricker comes with its own wheels for easy transportation. [ELLE Decoration]

Images: Cobble Hill’s Trader Joe’s flag via Google Maps (L); Cinnabon’s classic roll via Wikipedia (R)

Real Estate Wire

cash
  • The nation’s largest wealth gap is in Manhattan. Surprised? [Crain’s]
  • A clean-water activist plans to take the ultimate plunge on Earth Day, swimming 1.8 miles through Brooklyn’s toxic Gowanus Canal. [Brooklyn Paper]
  • Five real estate myths that snag buyers and sellers. [Washington Post]
  • Real estate crowd funding firm Prodigy Network has plans to develop shared workspaces and short-term rental apartments. [TRD]
  • The six most expensive homes in sports. [TRD]

Images: Cash via WikiCommons (L); Gowanus Canal (R)

Financial District, Hotels, New Developments

17John Cotel, 17 John Street, crowdsourced hotel, Prodigy Network

Back in June, we took a look at the winning designs for Prodigy Network’s 17John ‘Cotel’ (collaborative + hotel = cotel), the city’s first crowdsourced hotel and the world’s first collaborative hotel. Now, the real estate crowdfunding startup has closed on the 15-story rental building at 17 John Street for $85.3 million, $25 million of which came from crowdfunded equity. Additional financing came from Deutsche Bank and another institutional investor. The property will be transformed into a 23-story, 191-unit extended-stay hotel, designed for the next generation of business traveler.

More on the first-of-its-kind project in NYC

Architecture, Financial District, Hotels

17John Cotel, Prodigy Network, Rodrigo Nino, 17 john street, crowdfunded real estate, crowdfunding real estate, crowdfunding, real estate nyc, nyc hotels, crowdfunded hotels

Remember that competition held in February to crowdsource the design of a hotel to be located in downtown Manhattan? Looks like the results are in and Prodigy Network just announced the winners of the competition for the 17John ‘Cotel’ (collaborative + hotel = cotel).

The winning designs cover both the public interior spaces and the private rooms of 17John, and as the competition brief outlined, all the rooms are specifically tailored to the modern business traveler. Rooms range from long-term living spaces to more standard short-stay hotel rooms. The hotel will also be equipped with flexible spaces for work and meetings, and digital services that “provide comfort, community, and connectivity for its guests”.

see the winning designs here

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