CoStar has a reputation for going to extremes to protect its data: From raiding a rival’s office to filing dozens of lawsuits.
“With their customer base, the real estate market, going to hell, their ability to survive was in jeopardy,” said Wayne Pierce, an attorney who has represented companies sued by CoStar, including LoopNet and Field. “I had the definite impression that they were happy to squeeze the little guys to send a message, so that they could hold on to their business.”
In this month’s cover story, The Real Deal takes an exhaustive look at the data giant’s approach to competition. Since the 1990s, CoStar has filed at least 33 federal copyright-related lawsuits against rival companies, customers and individuals.
Elsewhere in the issue, there’s a feature about the long road ahead for Compass, as it seeks $1 billion in revenue. An analysis of sales in the city shows the ubiquity of limited liability companies and how anonymity can come at a price. Another story takes a look at the latest chapter in the conflict between union and nonunion construction labor in the city.
The issue also takes a look at why small- and mid-size firms are joining forces, and why private equity firms are still aggressively raising cash while simultaneously pulling back on real estate deals. And for the first time ever, there’s a ranking of New York City’s largest property owners.
The Closing this issue features famed criminal defense attorney Benjamin Brafman, who is representing Hollywood producer Harvey Weinstein against multiple charges of sexual assault and has represented real estate bigwigs including Charlie Kushner and Steve Croman. Be sure to also watch the video interview with Brafman.
All readers can now view the September issue of TRD by clicking here or on the “Magazine” tab on the top left of the homepage. Starting with this issue, all magazine content will be available to subscribers only until the 6th of the month. It will be available to all readers after that period. Enjoy! — Kathryn Brenzel