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Web Site Features Data Base of Prequalified Coop and Condo Buyers

NEW YORK CITY-Information on more than 1,000 apartment buildings and 200,000+ apartments is available here. The site allows brokers to find prequalified and active buyers, and enables buyers to learn when openings occur in buildings they are interested in.

By John Howe | Updated on October 30, 2000

NEW YORK CITY-A new real estate real estate exchange, www.cityrealty.com, has opened here that connects brokers with those seeking coops and condominiums. It is said to be the first site that aggregates owners and brokers with buyers and renters for residential real estate in any major US city.

Apartments from dozens of real estate firms and websites with information about more than 1,000 apartment buildings are available here, amounting to more than 200,000 units. This is not a multiple listing service, according to company president David Levy, but focuses on the consumer. “It’s a mirror image of a multiple listing service,” he says. “An MLS is a data base of properties that a broker or buyer searches directly. What we’ve created is a data base of buyers, in addition to a data base of properties, so a broker can find prequalified and active buyers.”

Apartment hunters provide information about how big a unit they are looking for, when they plan to move, etc. They can select from among the buildings where they would like to live and be alerted about availabilities. There is no fee for brokers to list an apartment, but www.cityrealty.com co-brokers listings and is compensated if it secures a buyer.

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