Property Shark, a New York-based data Web site, is taking a big bite out of the real estate information market. Founded in 2003, the site is drawing industry attention with its databank of 20 million commercial and residential properties
In an increasingly litigious world, disclosure has become a critical part of buying and selling residential real estate, particularly if a condominium or apartment complex occupies a natural hazard area. But some methods of outlining hazards such as flood and landslide zones can result in inaccurately drawn reports that can ironically prove to be naturally hazardous to the fiscal health of both the buyer and seller.
Site selection has come a long way in a short time. Unlike the old days when “siting” meant paying some consultant to hazard an educated guess at where to find store locations and branch offices, technology has helped the process evolve into a highly sophisticated and exacting science. Troy, N.Y.-based company MapInfo is part of the reason for this shift. The 21-year-old firm, which sells “location intelligence” mapping software, consulting services and related data to companies and governments, officially became Pitney Bowes MapInfo this spring when Pitney Bowes bought it for $408 million.
At one point in his real estate career, interruptions were a 24/7 proposition for Paul Muessig. Working in assorted asset-management roles for a pair of Chicago-area commercial real estate firms, Muessig was constantly bombarded with calls from colleagues, usually about problems such as lease abstracts and floor plans that the callers could have solved themselves — if given the right filing or “piling” system.