The Influence of Co-working on Real Estate Values

Bill Rudin, an early WeWork investor, discusses the impact of co-working on real estate values and the importance of flexible leases.

00:00:00 Bill Rudin, an early investor in WeWork, discusses the company's business model and its impact on the New York City market.

馃彚 As an early investor in WeWork, I understood the power of community and connectivity in the tech industry.

馃寚 WeWork took a building in lower Manhattan after sandy and rented it as their first New York City location.

馃椊 Despite the noise surrounding WeWork and co-working, it only makes up about 1% of the entire New York City market.

00:01:02 An early WeWork investor discusses the co-working sector's impact on real estate values and the importance of co-working in our city and country.

馃彚 The co-working sector makes up about 3% of the total real estate market.

馃實 Despite concerns about the real estate market, co-working spaces have had a positive impact on real estate values.

馃捈 Co-working is an important and sustainable component of our city and country's ecosystem.

00:02:07 Bill Rudin discusses how landlords should handle tenants who can't pay rent and explores alternative options like lowering rent or partnering with service providers.

馃捈 The question for landlords is whether to lower rent for struggling tenants or find a service provider like WeWork.

馃彚 Most WeWork spaces are well occupied with high occupancy rates.

馃挕 Consider hiring a service provider to manage empty space.

00:03:11 Early WeWork investor Bill Rudin discusses the concept of co-working and the business model of offering short-term leases in the co-working space.

馃挕 Co-working is a concept where people work together in shared spaces.

馃彚 WeWork's business model involves taking long-term leases and offering short-term leases to individuals and companies.

馃攽 Flexibility and convenience are driving the demand for co-working spaces.

00:04:15 Bill Rudin discusses the changing demands of tenants in co-working spaces and the evolving business model of WeWork.

馃彚 Landlords are adapting to the evolving needs of tenants in the co-working space by offering a range of choices, including long-term leases and flexible short-term space.

馃實 Around the world, buildings are transforming their business models to include amenities like co-working spaces alongside traditional long-term leases, reflecting a shift in how people approach work.

馃捈 Companies are now focused on attracting and retaining employees by providing fully amenitized buildings with features such as food, wellness facilities, conference centers, and outdoor spaces.

00:05:20 Early WeWork investor discusses the company's business model and the expanding real estate market in New York City.

馃彚 WeWork's business model raised office rents in various locations.

馃搱 Supply and demand factors have influenced New York City real estate prices.

馃捈 Companies now have more options for office space in different areas.

Summary of a video "Early WeWork investor Bill Rudin on the company's business model" by CNBC Television on YouTube.

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