Since buying StreetEasy in 2013, Zillow has dominated New York’s real estate listing market. But a formidable challenger has emerged in the form of Realtor.com, whose parent company is run by media mogul Rupert Murdoch.
“There’s no question that the purchase by News Corp. has made it a better site,” Steve Murray, founder of the Colorado-based residential brokerage consulting firm Real Trends, told The Real Deal. “They’re certainly adapting quicker and innovating faster.”
For our cover story this month, we dive into how Murdoch has elevated Move, parent company to Realtor.com, amid a fierce battle between StreetEasy and brokers, who are grappling with how best to deal with Zillow’s various efforts to monetize the city-centric listing service.
Meanwhile, we ranked the city’s largest law firms by companies with the most attorneys. Based on data compiled in September, TRD found that 1,046 real estate lawyers are working at the top 20 firms. That represents a 4 percent jump from last year, which saw 1,003 attorneys, and a nearly 9 percent increase from 2015’s 954.
We also take a look at old-school real estate mogul Sheldon Solow, whose reputation as a perennial litigator tends to precede him — though, those close to him say there’s much more to the developer than his court battles. His latest dispute is with one of his tenants at 10 West 57th Street, whom he’s seeking to evict to make way for a condo and hotel project.
And this month’s Closing features outgoing City Council land-use chair David Greenfield, who talks Mandatory Inclusionary Housing, the Midtown East rezoning and what it’s like negotiating with developers.
To read the October issue of TRD, click here or on the “Magazine” tab on the top left of the homepage. Enjoy! — Kathryn Brenzel