From the February issue: After being acquired in the spring by a California company, PropertyShark.com is seeing some big changes — starting with its office. The online real estate database company moved to 370 Lexington Avenue late last year, a space three times the size of its original office at 9 West 29th Street, according to Brian Scully, PropertyShark’s director of marketing.

Scully said that the new owner, real estate software company Yardi Systems, was consolidating some of the companies it had acquired over the last year, including two relaunched real estate publications, Multi-Housing News and Commercial Property Executive. [more]

Source: PropertyShark

New York City foreclosure activity in the fourth quarter saw a precipitous drop following lawsuits that exposed shoddy paperwork from banks, new figures from PropertyShark show.

Scheduled foreclosures dropped 26 percent compared with the third quarter, and stood 32 percent below 2009 fourth-quarter levels. Queens retains the largest portion of the city’s scheduled foreclosures, at 49 percent of the total. Manhattan has just 6 percent while Brooklyn clocks in at 19 percent. [more]

PropertyShark.com will relocate to Manhattan tomorrow, after four years in Williamsburg. The real estate data company’s new space, at 9 West 29th Street down the block from The Real Deal, is just over 2,000 square feet, twice the size of its current office, according to Brian Scully, vice president of marketing for PropertyShark. The space will include a full-time classroom for PropertyShark University’s continuing education courses. PropertyShark.com chose to make the move because the new location provides easier access to area real estate offices where PropertyShark.com offers training, Scully said, and the new space gives the company room to expand. “We jumped at the chance to get a bigger office in Manhattan while commercial rents are lower,” he said. TRD