The Real Deal New York

Perchwell strikes deal with Toll Brothers, marking first developer client

The developer will use the platform for its NYC sales
By Meenal Vamburkar | July 19, 2018 08:00AM

David Von Spreckelsen (Composite by Kerry Barger for The Real Deal)

Perchwell — the analytics and listings management firm that’s brought on brokerage clients like Sotheby’s International Realty and CORE — has struck its first developer deal.

Toll Brothers City Living has signed on to use the startup’s platform for sales at its New York City projects, the companies said in a statement. The developer will begin using Perchwell’s services later this month.

The deal with Toll’s City Living division comes in the midst of its nationwide sales event. The company is offering buyers in New York and Washington D.C. discounts on condominium units, and in some cases is covering transfer and mansion taxes.

The properties included in the Perchwell agreement are 91 Leonard Street, 55 West 17th Street, 121 East 22nd Street, 1110 Park Avenue, 100 Barrow Street, The Sutton and Pierhouse. Some of those buildings are also part of the sales event.

Perchwell, which has raised $4 million in seed funding since its launch last year, competes with companies like OLR and RealPlus. The company has pegged itself as a one-stop shop that combines listings, analytics and marketing. In addition to historical sales, their data includes development permits and geospatial data. Brendan Fairbanks, the startup’s CEO, has said he doesn’t view OLR and RealPlus as competitors.

In February, Sotheby’s said it would transition to Perchwell from RealPlus, joining other firms that made the jump. In addition to bringing on CORE and Warburg, Perchwell also works with Berkshire Hathaway HomeServices, Stribling & Associates, Fox Residential and Sloane Square.