Zillow to Buy StreetEasy for $50 million
Zillow the national real estate website will purchase StreetEasy the local NYC real estate website for $50 million. Zillow is a national website, like most national real estate websites they have never been able to cover accurately the unique New York city real estate market.
Unlike the rest of the country, 70% of Manhattan's housing stock is in cooperative apartments. Coops are rarely understood by outsiders and new comers to New York. In my opinion, websites such as Zillow, Trulia and others do not accurately list most properties in Manhattan because their website listing data does not include the monthly maintenance or common charges and real estate tax (RET) associated with NYC coops and condos both crucial elements and considerations when purchasing an apartment in NYC.
Dear Mitchell Hall,
As a valued member of our StreetEasy community, I wanted to be the first to tell you that Zillow just announced its entry into an agreement to acquire StreetEasy.
We are very excited about this new relationship. Zillow recognizes the strength of our product and brand, and our passion for helping real estate agents and brokerages. StreetEasy will continue to operate as usual with an unflinching passion for data integrity, a deep focus on the consumer experience, and a genuine dedication to supporting and nurturing the relationships we have developed with the brokerage community in our city.
Zillow is committed to growing and supporting StreetEasy, so you can expect the same level of quality and integrity in our site and the services that you have enjoyed from us over the years.
We are excited about this new phase in our evolution and confident that it will enable us to make StreetEasy even better for consumers, agents, and brokerages. Click here to view the full press release, which just went out a few moments ago.
Sincerely,
Michael Smith
CEO
Unlike the rest of the country, 70% of Manhattan's housing stock is in cooperative apartments. Coops are rarely understood by outsiders and new comers to New York. In my opinion, websites such as Zillow, Trulia and others do not accurately list most properties in Manhattan because their website listing data does not include the monthly maintenance or common charges and real estate tax (RET) associated with NYC coops and condos both crucial elements and considerations when purchasing an apartment in NYC.
Today's Announcement from Zillow
As a valued member of our StreetEasy community, I wanted to be the first to tell you that Zillow just announced its entry into an agreement to acquire StreetEasy.
We are very excited about this new relationship. Zillow recognizes the strength of our product and brand, and our passion for helping real estate agents and brokerages. StreetEasy will continue to operate as usual with an unflinching passion for data integrity, a deep focus on the consumer experience, and a genuine dedication to supporting and nurturing the relationships we have developed with the brokerage community in our city.
Zillow is committed to growing and supporting StreetEasy, so you can expect the same level of quality and integrity in our site and the services that you have enjoyed from us over the years.
We are excited about this new phase in our evolution and confident that it will enable us to make StreetEasy even better for consumers, agents, and brokerages. Click here to view the full press release, which just went out a few moments ago.
Sincerely,
Michael Smith
CEO
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