blueground hospitality tech company has officially launched in the United States. The company today announced it has leased 100 apartments in New York City, and it plans to add another 600 units to its portfolio by the end of 2018.
“blueground is transforming the experience of big-city living around the world, and New York City is primed for change,” said Saad Cheema, general manager of blueground N.Y. “As a hub for international business and operations, New York hosts thousands of people in need of medium-term or long-term accommodations. The current stock of corporate housing in the city has left much to be desired, and we are filling a crucial gap by providing modern, tech-enabled residences.”
Established in 2013, blueground leases carefully selected, high-quality properties, upgrades them into best-in-class rentals, and offers them to renters looking for a turnkey living solution. The company, which is partnering with prominent New York property owners and management companies such as Related Rentals, Stonehenge NYC, Clipper Equity and Pinnacle City Living, is offering apartments in sought-after neighborhoods, including Chelsea, Midtown West, Tribeca, SoHo, West Village and the Financial District.
For the landlords and property management companies that it partners with, blueground is providing an easy and cost-effective solution for leasing unoccupied units. The company leases multiple units before they hit the market, with an aim to continue leasing them for many years, ensuring landlords have 100 percent occupancy for the full duration of the rental agreement.
In addition to New York, blueground currently offers apartments in San Francisco, Dubai, Istanbul and Athens. To date, more than 1,000 apartments are a part of the blueground network, and the company has plans for aggressive expansion into other major U.S. markets, including Los Angeles and Chicago.
