As technology ramps up in the coming months and years, the world as we know it will slowly change. In some sectors of our economy, technology will be slow to ingratiate, but in others, it will be much obliged. In the center of commerce, New York City, there will be an increase of necessity as it pertains to convenience and security. For this, I am mainly talking about New York City condominiums and cooperatives.
Long Island City
5 Court Square, a relatively new condominium building, features impressive smart home features that provides convenience for its residents. It boasts
smart home technology as evidenced through its smart-lock latch doors upon entry. It's above-average windows come with motorized shades, and the kitchen is outfitted with appliances connected to Bosch Home Connect. Even the thermostat, provided by Nest with its Nest Protect smoke detector can be conveniently controlled with a smartphone; including Wemo light switches and Google Assistant. (Source: CityRealty.com)
The Concerns of Security
Along with convenience of technology is concerns of data breach. Every brand that this building is outfitted with, such as Bosch; Wemo; Google; and Nest, comes with concerns of nefarious hackers wanting to have access to its 58 unit high-end clientele. As we know it, even big brands such as Target, with access to multi-million dollars worth of network security has been exposed to data breach as a result of a single entry-point. For example, a hacker who has both the social skills and technical wherewithal can engineer herself her way into one of those databases and then compromise the whole network of convenient smart-home amenities this building brings.
The Future
The future is bright for New York City Real Estate. As technology finds more of a home in real estate, more innovation is needed to not only build out in-house infrastructure, but also house 24/7 digital security workers to monitor its residents like a high-end vault. Not only this, but as technology scales, this will become more and more affordable to lower to middle-scale residents in other just-as-cool condominium or cooperative buildings. It is my hope that blockchain and smart-home technology meld together to form a union to protect its residents while providing conveniences.
Alexander Sung
Real Estate Salesperson
with Real Broker NY LLC
(646) 435-1975
www.alexsungnyc.com
