Buildings Save with Parapet
Parapet was founded in Park Slope, Brooklyn, to improve the experience of owning an apartment in a co-owned building.
Many condo and co-op owners have full-time jobs, families, hobbies . . . things they would rather be doing than running their building. With or without a management company, co-owners are left with tough, stressful, and time consuming financial tasks. We built Parapet to make all of that easy.
Some background . . .
Last winter, I went to visit my friend Matt. We had not seen each other much because of the pandemic and he was about to start a new job and have another kid. He was busy and about to get busier.
To my surprise, Matt wasn’t worried about his new job or the addition of a new baby to his 4th floor walk-up apartment, he was stressed about his building. You see, Matt is the treasurer of a small co-op in Park Slope, New York, and he had noticed that the building’s finances were trending in the wrong direction.
I offered to help look into what was going on and we dug through the building’s bank statements and tax filings. We realized that there were many opportunities to save and improve the building’s financial position, including tax savings and smarter spending.
I had spent almost a decade building financial products for small businesses at American Express, and I thought there had to be something that could help Matt proactively monitor and keep his building on track. We both searched for software solutions for him and his building for hours. We also asked neighbors and other co-owners of similar buildings throughout the City about their building financials and the state of their condos or co-ops. It was clear — a lot of folks could really use some help and nothing out there was a good fit. There should definitely be a better and simpler way.
In the Spring of 2021 I left American Express and started to work on what would become Parapet. I love cities, I love New York, and I love the idea of building something that could help buildings and communities all around the world be more efficient, less stressful, and save money! After months of prototyping and customer interviews we are finally starting to onboard our first buildings!