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(Photo illustration by The Real Deal)
Almost everything has remained the same at 70 Pine Street the oak floors, modern furnishings and colorful art except for the short-term rental startup operating its 132 rooms. After six years in business, Lyric succumbed to shaky finances and a travel shutdown in July 2020. Now, the 66-story Lower Manhattan building is the New York City flagship for Mint House, a three-year-old startup that caters to business travelers. Mint House is one of several short-term rental companies playing a game of musical chairs with its failed rivals. Startups such as Lyric and Stay Alfred which leased apartments and operated furnished rentals went out of business after the pandemic sent travel into a spiral, leaving behind several thousand vacant units across the country. That’s created a big opportunity for other short-term rental startups to expand without having to front the costs of outfitting and readying units from scratch.