Brick Underground to be Acquired, Saved From Extinction

Brick Underground is staying aboveground.

The 15-year-old outlet for navigating all things New York City real estate, which was on the brink of going under, has landed a buyer, publication boss Teri Karush Rogers told The Real Deal. Rogers was not yet ready to identify the website’s savior.

The business had one foot in the grave last month, when Rogers said publication would have to cease. Her LinkedIn post about the looming suspension of Brick Underground drew a heartfelt response from the real estate industry.

“We have been overwhelmed by the volume and passion of community support we received when we shared the state of our business and the reality that we may have to shut it down,” Rogers said on Monday.

The site resumed posting Monday and Rogers plans to operate it through the end of March, at which point ownership will transfer. Rogers will remain at Brick Underground after the change.

The anonymous acquirer will install its own management team for the publication while “preserving the editorial voice and values” of Brick Underground, Rogers said. More about the team and ideas behind the publication’s future will be revealed in the coming weeks.

Brick Underground has served New York since 2009, publishing original articles, newsletters and a podcast largely geared towards the Big Apple’s rental market. The publication has more than 3 million annual visitors, according to its website, and has earned several accolades over the years, including the National Association of Real Estate Editors’ award for best real estate website three times.

Brick Underground’s survival contrasts to the recent demise of long-running trade publication Real Estate Weekly, which quietly went dark late last year after seven decades of tracking New York real estate. The publication’s website went offline and print operations ceased without explanation.

Rogers is avoiding the same fate with Brick Underground, something the publication’s founder was excited to share on Monday.

“Know that Brick is here to stay!” she declared.