StreetEasy

StreetEasy
IndustryReal Estate
GenreTechnology
Founded2006 in New York City, United States
Founder
Headquarters1250 Broadway,
New York, NY
,
USA
Key people
  • Caroline Burton
  • (VP & GM, StreetEasy)
  • Alireza Farhoush
  • (VP Engineering & Technology, StreetEasy)
  • Susan Daimler
  • (President, Zillow)
ServicesReal Estate
Number of employees
150
ParentZillow
Websitestreeteasy.com

StreetEasy is a technology company founded in 2006 that provides information on real estate listings in the New York metropolitan area.

History

The company was founded by Michael Smith, Sebastian Delmont, Doug Chertok, and Nataly Kogan in 2005 as NMD Interactive.[1] The company's founders had no traditional experience in the real estate sector.[2] The StreetEasy.com website launched in 2006. The company raised an initial $400,000 from investors including Global Strategy Group, Southpaw Capital Management and Sig Zises. The company received an additional $2.5 million investment from FA Technology Ventures in 2006.[3]

The company became popular by aggregating real estate listings into a single location. Listings were published with price changes and information like days the property had been on the market.[2][4] This information was previously unavailable to the public and by 2008 the company's website was averaging 4.5 million page views per month.[2]

In 2013, StreetEasy was acquired by Zillow for $50 million with the understanding the website would be run independent of Zillow.[5][6] Within a year most of the original senior staff had left and CEO Michael Smith was replaced with Zillow's Susan Daimler.[7]

The company has won Webby awards for Best Use of GPS or Location Technology People's Voice in 2015 and Best App & Software in the Real Estate category in 2016 and 2017.[8] In 2018, the company won a Shorty Award for Best Social Media in the Real Estate category.[9]

In 2017, the company launched a new paid listing model and began charging real estate brokers $3 a day for rental listings.[10][11] In 2021, the company reported 180 million visits to its website and app. It is estimated that eighty percent of people searching for a home in New York City used StreetEasy or one of the affiliated Zillow Group websites.[12] By 2022, the listing fee was raised to $6 a day for rental listings, though fees were reduced throughout the pandemic.[13][14] The company also charges fees for other features, such as StreetEasy Experts, Agent Spotlight and Featured Listings.[12]

Software

StreetEasy provides access to real estate listing information and data via their website and mobile application.[14] Real estate listings are often accompanied by building information including number of total units, current and past units for sale and for rent, building amenities and public permit information. Additionally, information on nearby public transportation and schools is provided alongside listing information about the property.[citation needed]

The company also releases monthly market data reports on their website and several yearly lists.[15][16][17]

In 2022, the company released StreetScape, an augmented reality feature on IOS that allows displays information on buildings and available units for sale and rent.[18][19]

References

  1. ^ Pincus, Adam (2013-11-01). "Zillow shocks insiders with StreetEasy strategy". The Real Deal New York. Retrieved 2023-01-26.
  2. ^ a b c Taylor, Candace (2008-09-17). "A Real Estate Site Stirs Up The Industry". The New York Sun. Retrieved 2023-01-26.
  3. ^ Chapman, Lizette (2013-08-19). "Zillow to Acquire StreetEasy; FA Technology Ventures' $2.5M Deal in 2006 Pays Off". The Wall Street Journal. Retrieved 2023-01-25.
  4. ^ Bromwich, Jonah E. (2015-05-08). "A Review of StreetEasy's Mobile App for Apple and Android". The New York Times. ISSN 0362-4331. Retrieved 2023-01-26.
  5. ^ Lunden, Ingrid (2013-08-19). "Zillow Fills Out NYC Listings With $50M StreetEasy Acquisition, Plans Follow-On Offering Of 2.5M Shares For $228M". TechCrunch. Retrieved 2023-01-26.
  6. ^ "Property website Zillow buys StreetEasy for $50m". BBC News. 2013-08-19. Retrieved 2023-01-26.
  7. ^ Velsey, Kim (2014-10-07). "The Zillowification of StreetEasy: Checking In 13 Months After the Acquisition". Observer. Retrieved 2023-01-26.
  8. ^ "NEW Webby Gallery + Index". NEW Webby Gallery + Index. Retrieved 2023-01-27.
  9. ^ "StreetEasy Social Media". The Shorty Awards. Retrieved 2023-01-27.
  10. ^ Plitt, Amy (2017-08-03). "StreetEasy will no longer receive listings from four big NYC brokerages (updated)". Curbed NY. Retrieved 2023-01-26.
  11. ^ Pilgrim, Lexi (2017-06-27). "StreetEasy | NYC Rentals | Premier Agent". The Real Deal New York. Retrieved 2023-01-26.
  12. ^ a b Jones, Sasha (2022-06-30). "REBNY, CoStar Launch Citysnap Listings Portal". The Real Deal New York. Retrieved 2023-01-26.
  13. ^ Velsey, Kim (2022-03-22). "StreetEasy Tries to Dominate Field and Placate Agents". Curbed. Retrieved 2023-01-26.
  14. ^ a b Lindsay, Kathryn (2022-02-09). "'Amazon for real estate': how the StreetEasy app took over New York". the Guardian. Retrieved 2023-01-26.
  15. ^ Kaysen, Ronda (2022-07-26). "New York Renters Are Now Paying the Price for the 'Covid Discount'". The New York Times. ISSN 0362-4331. Retrieved 2023-02-01.
  16. ^ Vertuccio, Rocco (2023-01-08). "StreetEasy: 10 city neighborhoods to watch this year". www.ny1.com. Retrieved 2023-01-26.
  17. ^ Santarelli, Marco (2023-01-28). "NYC Housing Market: Prices, Trends & Forecast 2022-2023". Norada Real Estate Investments. Retrieved 2023-02-01.
  18. ^ Weaver, Shaye (2022-05-04). "You'll soon be able to search NYC apartments using augmented reality on StreetEasy". Time Out New York. Retrieved 2023-01-27.
  19. ^ Tara, Serena (2022-05-05). "Go NYC Apartment Hunting from Any Street with This New Augmented Reality Tool". Thrillist. Retrieved 2023-01-27.

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