A major landlord in New York City and others have invested $5.7 million in a technology startup that has launched a platform to that saves landlords money on apartment broker fees and vacancy costs.
The startup is Doorkee, which has operated in New York since 2019, and raised the funding round from landlords Simon Baron Development, Stonehenge NYC and Bushburg Properties. Other investors were venture capital firms Corigin Ventures and Alpha Edison. The company, which has operated in New York City since 2019, will use the funding to expand its platform and grow into other US markets.
Resident turnover is a logistical hurdle for Simon Baron because it finds out less than 30 days in advance that renters are moving, leaving little time to market and lease the space, according to Matthew Baron, president at Simon Baron. Then the property sits vacant longer.
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Angela Morris
Angela Morris is ALM Media's Texas litigation reporter. She covers lawsuits in all levels of Texas state and federal courts. Based in Austin, Morris earned journalism and government degrees from the University of Texas at Austin in 2006, and since then, has worked primarily as a reporter and writer, but also has skills in videography, photography and podcasts. Follow her on Twitter at @AMorrisReports.
