There is some crossover between real estate and technology, leading many property firms to refer to themselves as technology companies. Morris Levy, CEO and co-founder of coworking company The Yard, chooses to keep those two titles separate.
“We don’t claim to be a real estate or ‘technology’ company,” said Levy. “This means our priority is not on acquisitions, developing new technology or offering ancillary business offerings outside of our primary service area. Our core focus is to create a great place to work that our members are proud to invite partners, customers and friends to visit.”
Levy said that above all else, The Yard is a hospitality business focused on providing members the perfect workplace and outstanding service.
Levy added that coworking firms that have been taking on too much venture capital funding and rapidly expanding cannot maintain the proper level of service.
Now, in the midst of WeWork barely staying afloat after its failed effort to go public, Levy said that The Yard has been contacted by many of the company’s members who are worried that WeWork will go bankrupt and that the inevitable layoffs are impacting the level of service.
Levy said that landlords are also reaching out to his company due to stalled deals with WeWork and are looking to partner with a more stable, reliable provider.
