This past July, Soho House Amsterdam opened up in the storied Bungehuis building. Not really news, other than the fact that FT just published this article talking about the building’s history and some of the project’s hurdles, which I of course found interesting.
Completed in 1934, the Bungehuis originally served as the offices for a prominent trading company. The architect was ADN van Gendt. When he died during the building’s construction, Willem Jacob Klok took over.
Also noteworthy about the building’s construction is that, according to Wikipedia, twenty houses had to be demolished in order for it to be constructed.
This underscores a point that I have made before on the blog. Cities are not static. Most of us probably look at the Bungehuis and consider it to be quite a handsome piece of architecture. Some of us may even go so far as to say that we don’t make buildings like they used to.
Soho House is on record saying that they were “not very budget-conscious” during the renovation because of the sense of responsibility that they felt around the building and its history.
He is tall, lean and blond, with dazzling white teeth, and he looks ever so much like Robert Redford. He rides around town in a chauffeured silver Cadillac with his initials, DJT, on the plates. He dates slinky fashion models, belongs to the most elegant clubs and, at only 30 years of age, estimates that he is worth “more than $200 million.”
Last week the New York Times published a special investigation looking at the Trump family’s real estate empire and the suspect tax schemes that they allegedly employed over the years to preserve, grow, and pass it down.
According to the Times, all of which has been rebuked by a lawyer for the president, Donald Trump received at least $413 million in today’s dollars from the family empire.
I just finished listening to this podcast about venture capital and consumer products. One of the underlying questions is whether we are currently in a “consumer downturn.” Rebecca Kaden of Union Square Ventures (USV) talks about the importance of “platform shifts” for venture returns. These are moments where a new technology hits the marketplace and there’s a corresponding mass consumer adoption. When and where will that next shift occur? Maybe it’ll be in real estate.
I like the discussions at 10:00 and 13:50. The first deals with the importance of non-paid customer acquisition strategies for consumer products. Rather than relying on bought attention, you really need organic growth strategies, which is often an indication that people are passionate about your product. This is arguably more important when you’re fundamentally reliant on massive growth/scale, but whether we’re talking about software or a home, I still believe it’s paramount. Create things people love.
The second point is about commerce, Amazon, and how USV avoids investing in companies that are unlikely to ever win against Bezos. Kaden’s position is that Amazon’s advantage is and has been more executional than structural. They are simply really good at doing things better. But Amazon wins at logistics, speed, and value. They are not as focused on experience, entertainment, and discovery. And people still want that.
This past July, Soho House Amsterdam opened up in the storied Bungehuis building. Not really news, other than the fact that FT just published this article talking about the building’s history and some of the project’s hurdles, which I of course found interesting.
Completed in 1934, the Bungehuis originally served as the offices for a prominent trading company. The architect was ADN van Gendt. When he died during the building’s construction, Willem Jacob Klok took over.
Also noteworthy about the building’s construction is that, according to Wikipedia, twenty houses had to be demolished in order for it to be constructed.
This underscores a point that I have made before on the blog. Cities are not static. Most of us probably look at the Bungehuis and consider it to be quite a handsome piece of architecture. Some of us may even go so far as to say that we don’t make buildings like they used to.
Soho House is on record saying that they were “not very budget-conscious” during the renovation because of the sense of responsibility that they felt around the building and its history.
He is tall, lean and blond, with dazzling white teeth, and he looks ever so much like Robert Redford. He rides around town in a chauffeured silver Cadillac with his initials, DJT, on the plates. He dates slinky fashion models, belongs to the most elegant clubs and, at only 30 years of age, estimates that he is worth “more than $200 million.”
Last week the New York Times published a special investigation looking at the Trump family’s real estate empire and the suspect tax schemes that they allegedly employed over the years to preserve, grow, and pass it down.
According to the Times, all of which has been rebuked by a lawyer for the president, Donald Trump received at least $413 million in today’s dollars from the family empire.
I just finished listening to this podcast about venture capital and consumer products. One of the underlying questions is whether we are currently in a “consumer downturn.” Rebecca Kaden of Union Square Ventures (USV) talks about the importance of “platform shifts” for venture returns. These are moments where a new technology hits the marketplace and there’s a corresponding mass consumer adoption. When and where will that next shift occur? Maybe it’ll be in real estate.
I like the discussions at 10:00 and 13:50. The first deals with the importance of non-paid customer acquisition strategies for consumer products. Rather than relying on bought attention, you really need organic growth strategies, which is often an indication that people are passionate about your product. This is arguably more important when you’re fundamentally reliant on massive growth/scale, but whether we’re talking about software or a home, I still believe it’s paramount. Create things people love.
The second point is about commerce, Amazon, and how USV avoids investing in companies that are unlikely to ever win against Bezos. Kaden’s position is that Amazon’s advantage is and has been more executional than structural. They are simply really good at doing things better. But Amazon wins at logistics, speed, and value. They are not as focused on experience, entertainment, and discovery. And people still want that.
4.2K+Subscribers
Popularity
17Supporters
4.2K+Subscribers
Popularity
17Supporters
But I think it’s important to note that this building was initially built for a for-profit company and things had to be demolished in order for it to come to fruition.
I can’t say for sure whether this development was opposed in the 1930s, but it may have been. Cities and buildings have a way of ingratiating themselves over time.
In any event, starting in the 1970s, the building became home to the arts faculty at the University of Amsterdam. And as recent as 2015, it became home to the Bungehuis occupations – a protest occupation started by students and staff of the University who were opposed to a slew of academic cuts.
Then in a state of poor repair, the building was ultimately sold to Aedes Real Estate, who now leases it to the Soho House Group for their private club and 79 room hotel. Above is a picture of the club’s rooftop pool and lounge.
The big hurdle, or at least one of them, was the fact that Amsterdam currently has a moratorium on new hotels – as a way to try and mitigate “overtourism” – unless it can be demonstrated that it will represent “an extraordinary addition to the existing stock.”
Since Soho House Amsterdam opened in July, I guess we know the answer to that test. But it sounds like it may have been a battle. That wouldn’t be a first for this building.
I just finished reading the investigation in its entirety. It’s a long one. But if you’re interested, you can do the same here. If you’d prefer the Coles Notes version (Cliff Notes for you Americans), have a scroll through the headlines in this article instead.
I’ll stop there. If you can’t see the podcast below, click here.
But I think it’s important to note that this building was initially built for a for-profit company and things had to be demolished in order for it to come to fruition.
I can’t say for sure whether this development was opposed in the 1930s, but it may have been. Cities and buildings have a way of ingratiating themselves over time.
In any event, starting in the 1970s, the building became home to the arts faculty at the University of Amsterdam. And as recent as 2015, it became home to the Bungehuis occupations – a protest occupation started by students and staff of the University who were opposed to a slew of academic cuts.
Then in a state of poor repair, the building was ultimately sold to Aedes Real Estate, who now leases it to the Soho House Group for their private club and 79 room hotel. Above is a picture of the club’s rooftop pool and lounge.
The big hurdle, or at least one of them, was the fact that Amsterdam currently has a moratorium on new hotels – as a way to try and mitigate “overtourism” – unless it can be demonstrated that it will represent “an extraordinary addition to the existing stock.”
Since Soho House Amsterdam opened in July, I guess we know the answer to that test. But it sounds like it may have been a battle. That wouldn’t be a first for this building.
I just finished reading the investigation in its entirety. It’s a long one. But if you’re interested, you can do the same here. If you’d prefer the Coles Notes version (Cliff Notes for you Americans), have a scroll through the headlines in this article instead.
I’ll stop there. If you can’t see the podcast below, click here.
