🏛️ Federal property sell-off in San Francisco could this reshape office landscape
🗽 NYC bringing 500 new affordable units to Coney Island
🔥 Meet the tech entrepreneur transforming Fire Island
📚 New Course: Investing like an Institutional LP

Data Viz of the Week: How Kids Get to School

Remember taking the school bus? Or walking to school?

Fewer kids than ever are having those experiences, with almost 60% of US children now driven to school by mom and dad. The “school drop off line”—a long line of cars idling along the road—is now a fixture at many US schools and a major annoyance for parents and other motorists alike.

This trend is ultimately downstream of how we build our cities; specifically, the preponderance of single-family zoning, large minimum lot sizes, and low investment in pedestrian and biking infrastructure.

Upcoming Thesis Driven Courses & Classes

Sharpen your real estate IQ on capital raising, selling into real estate owners, developing local real estate projects, and more.

New Course - Fundamentals of LP Real Estate Investing

A bootcamp for accredited investors providing the institutional playbook for evaluating, structuring, and investing in direct real estate deals—especially in alternative asset classes and early-stage opportunities that institutions haven’t yet dominated. Sign up

• How to analyze real estate investments like an institutional LP—breaking down financial models, risk factors, and sponsor alignment.

• The opportunity in alternative real estate asset classes—from outdoor hospitality and experiential resorts to branded residences and platform investments.

• How to negotiate better LP terms—demanding equity upside, structuring downside protection, and understanding preferred return waterfalls.

• How to separate high-quality sponsors from bad actors—spotting red flags in GP structures, fees, and business plans.

• What institutional investors know that most LPs don’t—how they diligence deals, mitigate risk, and structure investments for long-term success.

Live cohort in NYC on April 7th & 8th. Cost: $1,500. Limited to 25 students per cohort.

All Upcoming Courses

• March 17: Fundamentals of CRE (💻 Online): A bootcamp providing an insider’s view of “a day in the life” of key industry stakeholders, with real-world insights and applications - Sign up

• March 18 & 19: Fundamentals of Capital Raising (🗽Live in NYC): Insider’s guide to raising capital for real estate projects & platforms–from individuals, family offices and institutional investors - Sign up

• March 31: Selling Into Real Estate Owners (💻 Online): A bootcamp for people selling technology and products into the real estate industry - Sign up

• March 31: Fundamentals of Capital Raising (💻 Online): Insider’s guide to raising capital for real estate projects & platforms–from individuals, family offices and institutional investors - Sign up

• April 7: Introduction to Development (💻 Online): A first-person POV simulation for aspiring developers to learn to source, underwrite and finance a local real estate project - Sign up

Three Articles We Loved from Last Week

It’s not easy keeping up with everything. Here are three articles we loved from the past week that you may have missed:

1. (San Francisco Chronicle) Trump Administration Proposes Sale of San Francisco Federal Buildings

   The Trump administration plans to sell two prominent federal office buildings in San Francisco, including the Speaker Nancy Pelosi Federal Building. This initiative aims to reduce federal real estate holdings in favor of leased spaces, purportedly to enhance efficiency. The targeted properties, located in areas with high vacancy and security concerns, could further impact downtown San Francisco’s struggling office market.

2. (Bisnow) NYC Seeking Applicants To Build 500 Apartment Units On City-Owned Coney Island Site

   The New York City Department of Housing Preservation and Development (HPD) has issued a request for proposals (RFP) for developers to construct 500 affordable housing units on a 4-acre city-owned site in Coney Island. The project is part of the administration’s larger effort to address NYC’s housing crisis and will require developers to prioritize mixed-income housing, resilient infrastructure, and community benefits. The site, located near Surf Avenue and West 20th Street, will transform underutilized land into much-needed residential units in the beachfront neighborhood.

3. (The Wall Street Journal) The Man Who Bought Fire Island

   Entrepreneur Tristan Schukraft has acquired the majority of Fire Island Pines’ commercial district for approximately $17 million. His plans include revitalizing key establishments like the Blue Whale bar while preserving the area’s cultural significance. Despite skepticism from locals and the challenges of profitability, Schukraft is committed to enhancing the LGBTQ+ community’s historic haven.

Developer of the Week: Wirtz Corproation

This past week, Chicago’s city council approved the $7 billion megaproject surrounding the United Center, home to NBA Bulls and NHL Blackhawks. The project will be a test for two of Chicago’s most prominent real estate families, Wirtz and Reinsdorf, the owners of the Blackhawks and Bulls respectively.

More than two decades in the making, the project will eventually include over 9,500 apartments, a park, 1,300 hotel rooms, and a music hall.

You can check out Wirtz Corporation on Thesis Driven’s developer database here.

Know about a developer doing something cool that we should feature? Reach out to [email protected] with the tip!

—Brad and Paul