StreetEasy New Dev DOM

David Goldsmith

All Powerful Moderator
Staff member
I was under the impression StreetEasy had changed their policy for New Development so that instead of Days-on-market they listed the month and year that marketing began. I agreed with this because in reality every unit in a project becomes available for sale when the Prospectus gets approved. But I'm looking at Gramercy Square and the units on the market from the Sponsor are back to DOM - example:

Did they make another policy change and I didn't see it?
 

nicolebeauchamp

Well-known member

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
Hmm, excellent thread topic and thanks Nikki for pointing that out. Also, I see a lot of these bad boys: "Listed in StreetEasy, already in contract, by", which to me means the dom will be suspect.

I kind of agree with David. I dont know much about this area, but I would think the time of offering/prospectus approval and the time of "marketing launch" of a development project could be two different time periods. So not sure starting from point A in this point is fair?

I do believe that when the first units are marketed (lets call this marketing launch of the building units for sale), ALL units should have a record created in RLS set to a specific status, either active or off market. So we have details on every unit in the offering and we can measure every unit's status. The sponsor has every right to put 75% of units off market, and bring batches on as they see fit. But lets measure it, and track it. Thats the issue. Sponsors only "submit" a fraction of their inventory and sell things that are not part of this release.
 

nicolebeauchamp

Well-known member
And when they appear in RLS and/or SE as in contract, I have noticed in some of my own transactions that there's a significant delay. Like one day, I'm looking at something else and then I see something is CS....that I know for a fact was CS MONTHS prior....

I think there is a lot of clarity to be desired. It would be helpful for tracking.
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
And when they appear in RLS and/or SE as in contract, I have noticed in some of my own transactions that there's a significant delay. Like one day, I'm looking at something else and then I see something is CS....that I know for a fact was CS MONTHS prior....

I think there is a lot of clarity to be desired. It would be helpful for tracking.
you mean the listings that say "Listed in SE, Already in Contreact"....these bad boys?
 
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