BH3 Leads $1.6 Million Seed Round For Tech Startup, Gridics' Zonar.City Software

MIAMI, Nov. 7, 2017 /PRNewswire/ -- BH3 Management, a South Florida-based real estate development company with South Florida and New York City real estate projects and holdings, led by Daniel Lebensohn and Gregory Freedman announced its first tech-focused investment, leading a seed round of $1.6 million for Miami-based real estate tech startup, Gridics' Zonar.City Software.

After years of development, Gridics recently launched Zonar, a map-based zoning code application and proprietary rules engine that allows users to quickly view a 3D, by-right development potential of a specific parcel or parcels. The application enables the customization of usage scenarios such as residential, mixed use, office, hotel or commercial.

"Zonar.City is revolutionizing how real estate players assess property zoning and values and as one of the first customers of the product, we were deeply impressed by its potential and value, which led us to seek stake in the startup company," said the BH3 co-partners, Lebensohn and Freedman.

"We believe in the Zonar.City team and are confident in the exponential growth possibilities the innovative tool will bring to the real estate industry as it breaks into other demanding markets outside of Miami."

In April 2017, Gridics secured a contract with the City of Miami to use the Zonar.City platform to expedite the processing of development plan reviews and is now expanding nationwide, starting with all five boroughs of New York City in Q1 of 2018.

"We are thrilled to have the backing of a leading real estate developer like BH3 and there is no better vote of confidence in our product and our vision for the future than to have a user and customer get behind us as an investor," said Jason Doyle, Gridics CEO. 

About BH3: Led by principals Gregory Freedman and Daniel Lebensohn, BH3 is an opportunistic real estate developer company focused on developing and acquiring real estate in South Florida and New York City. Its impressive portfolio includes Privé at Island Estates, Trump Hollywood, 1805 Ponce, Terra Beachside 6000 Collins, Fontainebleau Sorrento and the Manhattan Abacus portfolio of apartment buildings. Visit www.BH-3.com

About Gridics: Headquartered in Miami, FL, Gridics is a tech startup developing SaaS applications for the real estate marketplace, including its digital zoning platform, Zonar.City, and its hyper-local Market Intelligence platform for agents and brokers. Visit www.zonar.city or www.gridics.com.

SOURCE BH3 Management

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