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Fundrise's U Street Condo Project Sells Out in 2 Hours. This Was a Problem

WASHINGTON, DC—The project sold off before the company could notify all interested investors and some were rather upset, Fundrise's CEO Ben Miller tells GlobeSt.com.

By Erika Morphy | Updated on November 13, 2015

WASHINGTON, DC—Now here’s a problem you don’t hear about very often. Washington DC-based Fundrise, a crowdfunding platform for real estate, had a $1.6 million project sell out in 2 hours and 22 minutes. That’s about $11,000 per minute.

It was very exciting, obviously, CEO Ben Miller told GlobeSt.com, but also a bit awkward as some of the thwarted investors were upset. “I couldn’t believe how fast the sale went — it was sold out while the emails about the project were still being sent,” Miller said. 

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