New digital investing platform targets NYC luxury real estate
This week, Todd Lippiatt, formerly of Morgan Stanley and Credit Suisse, and managing principal of Aristone Realty Capital, is launching a Web-based alternative assets platform called Propellr, which will allow small accredited investors to invest in high-end real-estate properties and debt deals.
Lippiatt has a real-estate portfolio in Manhattan valued in the tens of millions of dollars, according to the New York Post.
One of Propellr’s more notably property-investment opportunities is the I.M. Pei-designed Centurion condominium at 33 West 56th Street – the property drew 15 investors that funded $1.03 million.
“We have a tremendous amount of respect for our investors,” Lippiatt said. “We want to provide as much access … as possible.”
And putting his money where his month is, Lippiatt, along with his management team, is personally in the first 10 percent of each deal. [NYP] –Christopher Cameron