NYCREC uses blockchain technology to tokenize New York City real estate. This opens up unprecedented opportunities for worldwide accessibility and liquidity in one of the most competitive and desirable real estate markets. NYCREC token holders can enjoy some of the benefits that come with owning real estate, including receiving revenue from the building’s cashflow via Ethereum airdrops. The team behind NYCREC has managed over $15 billion in real estate and on Wall Street.
New York Real Estate Coin is led by a superstar, veteran real estate financier who has managed or invested over $15 billion in real estate over his 21-year career. The rest of the core team has worked as fund and asset managers at bulge bracket Wall Street firms for decades, and several have served as advisors to successful ICOs, such as XTRD and Bankex. Two NYC-based VC funds have already invested in NYCREC because of the quality of the team and its accomplishments.
The NYCREC core team all met in New York City decades ago while working as investment professionals on Wall Street at some of the top financial services firms and investment banks worldwide.
The major risks associated with NYCREC are all externalities, or variances that the team itself would have no control over. For example, if the New York City real estate market had a serious downturn, then it would obviously affect the value of NYCREC tokens. However, such worst-case scenarios are unlikely to happen given NYC real estate's historic appreciation and liquidity.