United States securities and exchange commission logo May 1, 2023 Brendan Wallace Chief Executive Officer Fifth Wall Acquisition Corp. III 1 Little West 12th Street 4th Floor New York, NY 10014 Re: Fifth Wall Acquisition Corp. III Preliminary Proxy Statement on Schedule 14A Filed April 17, 2023 File No. 001-40415 Dear Brendan Wallace: We have completed our review of your filing. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Sincerely, Division of Corporation Finance Office of Real Estate & Construction cc: Evan M. D'Amico