The Real Deal New York

Posts Tagged ‘joe gebbia’

  • Airbnb sees blue skies in NYC

    November 15, 2011 04:22PM
    Top row, from left: Company founders Joe Gebbia, Nathan Blecharczyk and Brian Chesky
    Bottom row: A sampling of some of the deals listed on Airbnb last month and their nightly rates (from left): apartments on the Upper West Side, on the Lower East Side and in Harlem

    From the November issue: In late June, a San Francisco woman blogged about a nightmare experience renting her apartment through the increasingly popular online listing service Airbnb. She had returned from a week of business travel to “an apartment that had been ransacked” and burglarized, right down to an allegedly photocopied Social Security card.

    Horror stories followed from other locations, too, throwing the three-year-old Airbnb, then on its way to raising more than $112 million in fresh capital and securing a valuation of $1.2 billion, under a national microscope and prompting elected officials to flex their regulatory muscles. (The company counts actor Ashton Kutcher and a slew of venture capitalists as investors.)

    New York State had, less than a year before, enacted legislation that banned renting out Class A residential spaces — apartments intended only as permanent, rather than transient, residences — for less than 30 days. … [more]

  • New law will ban short-term subletting

    August 02, 2010 04:00PM

    A law intended to stamp out illegal hotels will also prohibit tenants from renting out their apartments while they’re on vacation, DNAinfo reported. The law — to take effect in May 2011 — bans apartment rentals for less than 30 days, making a subculture of short-term subletting that has been operating under the radar for years explicitly illegal. People like Zach Geller — who in the past has subleased his Upper East Side apartment for $100 a night while on a two-week vacation — are upset with the new restrictions. While losing the revenue wouldn’t be a huge blow for him, Geller said he finds fault with the government for telling him what to do. “New York’s full of tourists, so why should the government not let me do what I want?” he said. Joe Gebbia, the president of, an EBay-like site for renting apartments, told Curbed that the company has received more than 300 letters from New Yorkers in protest of the legislation. Others have begun websites, like, which argue that the bill infringes on the rights of homeowners, some of whom rely on the extra income to stave off foreclosure. But legislators behind the bill — sponsored by Assembly Member Richard Gottfried — say that, regardless of whether apartments are rented by tenants or landlords, opening the doors to strangers poses a risk. [DNAinfo]