Cushman & Wakefield has signed an agreement with Bowery Valuation that will automate and optimize the entire appraisal process. As part of this initial phase of the agreement, Cushman & Wakefield appraisers will be able to provide multi-family valuation services in the New York market utilizing Bowery’s proprietary technology.
“Bowery’s appraisal platform seamlessly removes a host of manual tasks from an appraiser’s day-to-day work and allows them to truly focus on adding value for their clients,” said Nicole Urquhart-Bradley, MAI, FRICS, President, Valuation & Advisory Americas “It also allows us to better serve our clients who need quick turnaround on smaller investment properties.”
The platform uses public record integration and a comprehensive comparable database to increase efficiency throughout the commercial appraisal process, improving the current approach where information is pulled manually from relevant government agencies.
“Integrating technology into processes that have been labor intensive is not just good business, it’s critical to our clients and to our industry,” said Adam Stanley, Cushman & Wakefield’s Global CIO and Chief Digital Officer. “This partnership is another step in the transformation towards our people adding true, thoughtful value for clients by eliminating routine tasks. This is the first evolution of our new state of business.”
Bowery’s bespoke reports are generated through its proprietary appraisal platform. The mobile inspection app guarantees no data or information gets lost in translation as the appraisal is prepared. The reports are all produced from scratch with consistent verbiage, increased data accuracy, and significantly faster delivery time than the industry average.
“Our team is incredibly proud of the platform we’ve built and thrilled that Cushman & Wakefield has seen its potential,” said Noah Isaacs, Co-CEO of Bowery. His partner, John Meadows, added, “By freeing their professionals from a manual approach to producing appraisals, Cushman & Wakefield will be able to offer the highest levels of service in the industry and unique opportunities for clients.”
The Cushman & Wakefield/Bowery partnership was generated through the firms’ relationship with MetaProp NYC.
“This partnership is going to be a game-changer in the valuation industry. It’s the first example of MetaProp helping Cushman & Wakefield assess hundreds of potential PropTech opportunities – we’re putting them on an accelerated path to the next generation of technology to meet the current and future needs of their clients,” said Aaron Block, Founding Partner and Managing Director, MetaProp NYC.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visitwww.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
About MetaProp NYC
NYC is the world’s premier real estate technology nexus. Based in the heart of Manhattan’s Silicon Alley, the MetaProp NYC 22-week Accelerator and 8-week Pre-Accelerator at Columbia University are the leading programs for high growth PropTech startups. Each year, up to 20 of the best technology driven real estate industry ideas are selected to participate in intensive education, mentorship and growth hacking programs, culminating in exclusive Graduation Defense panels and bi-coastal Demo Days for partners, investors, VCs and media. Founded in 2015, the accelerator boasts 100MetaProp+ mentors, 10 renowned corporate partners and widespread media coverage from the Wall Street Journal, Forbes, New York Post, TechCrunch, Inman, Bisnow, Real Estate Weekly, and more. MetaProp NYC's team and strategic seed stage funds have invested in 60+ technology companies across the real estate value chain. The companies have raised more than $2 billion and employ 1,500+ people globally. MetaProp Advisors provides strategic advisory services, growth consulting, communications, event management and market research for real estate companies that are serious about innovation.
