17John Creator Leads Discussion On The Future of Collaborative Real Estate With Harvard Business School, PSFK and LifeEdited
NEW YORK - Thursday, February 6th 2014 [ME NewsWire]
(BUSINESS WIRE)-- Prodigy Network will lead the conversation, "Crowdsourcing and Crowdfunding: A Social Media Revolution In Real Estate,” at Social Media Week New York on February 20. Prodigy Network will explore the impact social media has on the real estate industry through crowdfunding and crowdsourcing.
Prodigy Network’s current crowdfunding project 17John, is an extended stay "Cotel” next to the new Fulton Center, the third-largest transportation hub in Manhattan and one block away from the new World Trade Center. 17John is an extended stay "Cotel” designed to service the growth in the financial district and beyond. The term "Cotel” has been coined by Prodigy Network as "an innovative and unique hotel looking to the crowd, including on-the-go travelers, to be a part of a collaborative community where guests share ideas and foster likeminded connections.”
Individual accredited investors can purchase REPs (Real Estate Participations) of 17John for $100,000 each. Once completed, 17John will stand 23 stories high, and have 191 furnished units. Architects will combine the building’s existing classic architecture with the modernism of a glass tower to showcase 17John’s extensive views of Manhattan.
"We have learned that crowdfunding not only democratizes investments, it also makes projects viable that otherwise would not be possible,” said Rodrigo Nino, CEO and founder of Prodigy Network, who has dedicated his work to open these profitable ventures and to foster creativity. "With 17John we are providing real estate investment opportunities to the general public. Our presence at Social Media Week further defines the need for the conversation to continue, grow and inspire.”
On February 20 at 12:00pm EST, the panel titled, "Crowdsourcing and Crowdfunding: A Social Media Revolution In Real Estate,” will present:
How society can address complex issues and impact fields like real estate through social media, for example 17John.
The definition of crowdsourcing and crowdfunding, what they are and what they mean to the world at large.
How an interdisciplinary approach integrates crowdfunding, crowdsourcing, innovation, design and business thinking to put human issues at the core of problem solving and solutions.
How social media shapes our lives, our society, and our culture and how cutting-edge research from behavioral science, technology and economics can show how the crowd can collaborate for the collective good.
How world-renowned designers, researchers and strategists are shaping innovative approaches to address some of the most pressing economic challenges of our time.
The panel will include:
Rodrigo Nino, CEO and founder of Prodigy Network, who developed a crowdfunding business model as a safe and innovative way of giving smaller investors access to large real estate assets.
Graham Hill, CEO and founder of LifeEdited, creates ordinary spaces dedicated to microliving and efficiency.
Karim R. Lakhani, Lumry Family Associate Professor of Business Administration at the Harvard Business School and the Principal Investigator of the Harvard-NASA Tournament Lab at the Institute for Quantitative Social Science, who specializes in the management of technological innovation in firms and communities.
Piers Fawkes, founder of PSFK, leads a daily news site that acts as the go-to source of new ideas and inspiration.
Prodigy Network will also invite Social Media Week participants to create a crowd-designed large-scale mural. The production of the mural will take place throughout the week and will engage the crowd to create a visual representation of the power of the collective mind. Acclaimed artist and visionary Rafael Esquer of Alfafa Studio will interact with visitors at Social Media Week in New York City, as well as engage the global community through social media. The crowd will be able to contribute and follow the mural’s progress through #smwprodigy.
For more information on Prodigy Network and its current portfolio: www.prodigynetwork.com
For more information and tickets to Social Media Week: www.socialmediaweek.org/newyork
About Prodigy Network
Founded in 2003, Prodigy Network specializes in connecting its international network of individual investors with opportunities to participate in institutional grade assets. With its proven crowdfunding model and use of a third party fiduciary, Prodigy Network has shifted real estate investment opportunities and returns – that once were solely accessible to large investors – to small investors. As the leader of the world’s largest crowdfunded skyscraper BD Bacata, Prodigy Network has led six international and U.S. based crowdfunded projects, raised over $200 million from 4,200 investors, and are currently developing projects with a projected value of $600 million. Prodigy Network’s vision is to advance crowdfunding as an innovative and dynamic way of doing business through democratizing real estate investments. Prodigy Network is headquartered in New York, New York. For more information visit: www.prodigynetwork.com/en
Relevance New York
Thea Linscott / Thea@relevancenewyork.com
Suzanne Rosnowski / Suzanne@relevancenewyork.com