written by:
February 13, 2014
Getting in on the ground floor of a Manhattan real estate development can be a prohibitive investment for many. The ambitious 17 John project, an extended stay hotel being proposed by Rodrigo Nino’s Prodigy Network, may change all that, while showcasing how an alternative funding and crowdsourcing can give the community more say in future developments.
17 John's roof deck with views of lower Manhattan. Photo courtesy Prodigy Network.
1 / 7
17 John will combine two architectural styles with the addition of the glass tower. Photo courtesy Prodigy Network.
2 / 7
The extended glass tower will add to the existing 15-story building, bringing it to 23 stories. Photo courtesy Prodigy Network.
3 / 7
17 John will be a beacon of glass in the heart of Manhattan's financial district. Photo courtesy Prodigy Network.
4 / 7
17 John is a "Cotel" created with the new World Trade Center in mind. Photo courtesy Prodigy Network.
5 / 7
A look at 17 John at night. Photo courtesy Prodigy Network.
6 / 7
Rodrigo Nino, founder and CEO of Prodigy Network. Photo courtesy Prodigy Network.
7 / 7
cam 1hq
17 John's roof deck with views of lower Manhattan. Photo courtesy Prodigy Network.

The Prodigy Group has already seen this model work. The BD Bacatá project, a 66-story, 1.2-million-square-foot skyscraper in downtown Bogota, Colombia, that attracted 3,500 investors, is poised to open in 2015, boasting office and retail space as well as a 364-room hotel. Founder and CEO Nino, who brought Prodigy to New York in 2007 and also created the Ideal City Project, a crowdsourcing platform for solving urban issues, is currently working on AKA Wall Street, a $90 million extended stay property in Manhattan.

But 17 John, labeled a “cotel,” exudes a higher profile -- architect Winka Dubbeldam designed proposed the 23-story space in Fulton Center, and the design of the interior will be crowdsourced. Poised to take advantage of the renewed energy in the Lower Manhattan, the project would ask individual investors to pony up $100,000 for a REP (Real Estate Participation) -- not an impulse purchase, by any means, but a relatively small amount for New York real estate. Due to the high dollar amounts involved and large potential yield, a third party will monitor all investments.

“We have learned that crowdfunding not only democratizes investments, it also makes projects viable that otherwise would not be possible,” says Nino. “With 17John, we are providing real estate investment opportunities to accredited investors.

During Social Media Week New York, Nino will be speaking about his project as part of a panel called “Crowdsourcing and Crowdfunding: A Social Media Revolution In Real Estate,” taking place February 20th at noon at Highline Stages at 440 West 15th Street.

Join the Discussion

Loading comments...

Latest Articles

Exterior of Huneeus/Sugar Bowl Home.
San Francisco–based designer Maca Huneeus created her family’s weekend retreat near Lake Tahoe with a relaxed, sophisticated sensibility.
May 26, 2016
starting over sturgeon bay facade tongue and groove new growth cypress  0
After a devastating fire, architect David Salmela designs a house to replace a beloved lakeside retreat in Wisconsin.
May 26, 2016
Modern home with brick base and cedar rain screen on top level
An architect reimagines an outdated brick garage by designing a graceful new family home atop its foundation.
May 26, 2016
sardenya lr 7
A renovation brings light and order to a Spanish flat, maintaining its standout ceilings.
May 25, 2016
pow 5 25 1
Each week, we tap into Dwell's Instagram community to bring you the most captivating design and architecture shots of the week.
May 25, 2016
young guns 2016 emerging talent thom fougere winnipeg canada cthom fougere studio thom fougere saddle chair 2
Designer Thom Fougere plays with scale and typology to create playful furniture.
May 25, 2016
prs my16 0067 v001 1
In the worlds of architecture and design, we’re always looking for the best ways of supporting sustainable building practices. This awareness doesn’t have to stop at our driveways but rather, it can extend to the cars we choose to take us to the places we go each day. With Toyota’s 2016 Prius, the daily task of getting from point A to point B can now be experienced with a new level of efficiency, safety, and style.
May 25, 2016
mountfordarchitects western australia
On a narrow site in Western Australia, Mountford Architects makes the most of a tight spot—with an eye to the future.
May 25, 2016
San Francisco living room with Wassily chairs
Materials and furniture transformed the layout of this San Francisco house, without the need for dramatic structural intervention.
May 24, 2016
shiver me timbers tallow wood kitchen
A pair of married architects put their exacting taste to work on their own family escape in the Australian bush.
May 24, 2016
in the balance small space massachusetts cantilevered cabin glass facade
When nature laid down a boulder of a design challenge in the Massachusetts mountains, an architect’s solution elevated the project to new heights.
May 24, 2016
Wooden Walkways
A home in Ontario, Canada, demonstrates how factory-built housing can be as site sensitive as traditional construction.
May 24, 2016
15 icff 5
From Corian furniture to immersive installations, here are some of our favorite designs we saw at the 2016 shows.
May 24, 2016
gpphoto44
A home and community celebrate natural remove in unison.
May 24, 2016
With our annual issue devoted to the outdoors on newsstands, we did a lap of Instagram for some extra inspiration.
May 23, 2016
forest for the trees english prefab mobile home facade chesnut cladding
On the edge of a historic park in an English shire, a prefabricated home sets a new design standard.
May 23, 2016
tread lightly australia
A family home on Australia’s Mornington Peninsula is built to blend in with its lakeside setting.
May 23, 2016
jardins party dining room hay chairs local wood floor
A pair of architects help a client carve out an oasis of calm amid São Paulo’s bustle.
May 23, 2016
hwm6zf 1
No matter where you're located or what time of the year it is, having a fireplace in your home is a treasure that’s continuously sought after. Besides the obvious benefits of keeping a fire going through the cold winter months, it can also be a cherished asset that provides an extra level of year-round comfort—not to mention how it can help define the layout of a space by acting as a sculptural element.
May 23, 2016
An office Crosby Studios designed for NGRS in Moscow
Crosby Studios just cares about the essentials.
May 22, 2016
cold sweat seattle floating sauna gocstudio
A cadre of designers let off steam after hours by building and sailing a seaworthy sauna.
May 22, 2016
in the swim off the grid campsite healdsburg california swimming pool solar heat lap pool ipe deck loll designs lounge chairs
An off-the-grid house that is little more than a decked campsite—albeit with a roof—includes a swimming pool for a family that loves to enjoy the elements.
May 21, 2016
A print by Kristina Krogh
From flat to physical, Kristina Krogh masters every dimension.
May 21, 2016
scifi
Every week, we highlight one amazing Dwell home that went viral on Pinterest. Follow Dwell's Pinterest account for more daily design inspiration.
May 21, 2016
beverly hills living room piano view
Architect Noah Walker, principal of Los Angeles–based studio Walker Workshop, shares completed and work-in-progress residential designs on his Instagram page (@noah_walker). Take a peek at some of the striking modern houses here, and tour the Venice House on the Dwell Home Tours on June 26.
May 20, 2016
ripple effect san fancisco small space yard outdoor monica viarengo pebble mosiac artificial turf slide
A San Francisco landscape designer finds a small-space solution that’s anything but narrow-minded.
May 20, 2016
Oslo living room with light wood floors and wood slab table
A pair of designers in Oslo, armed with tricks for introducing color and daylight, remake their compact late-19th-century apartment.
May 20, 2016
family affair backyard addition portrait
In coastal Massachusetts, a resourceful couple and their equally enterprising children use reclaimed materials to create a versatile 168-square-foot backyard building.
May 20, 2016
speed machine australian beachside prefab archiblox facade colorbond ultra steel cladding queensland blue gum wood
With little time to waste, an Australian firm erects an efficient prefab overlooking the ocean.
May 20, 2016
Christian Benimana at Design Indaba
When he was younger, there wasn't a single architecture school in his country. Now, as part of MASS Design Group, Christian Benimana shares how architecture can heal and inspire Africa.
May 19, 2016