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October 15, 2008
Help with Acris
I've recently been hired by a European RE fund to study and analyze the NY market and particularily the way it's reported.
I've been using Acris in an attempt to verify the numbers provided by the big agencies, but I'm finding the data incomplete. At minimum 20% of the recordings are missing the price. Only one third of the transactions list square footage.
Am I doing something wrong? Are there other city sources that provide more detailed information?
Thanks
Comments
Use this site. It's much easier than ACRIS. Go under the Rolling Sales Update section. Only problem is this only lists co-ops, I believe, but it's user friendly.
http://www.nyc.gov/html/dof/html/property/property.shtml
Posted by: Biff Champion at October 15, 2008 11:06 AM
Biff,
Thank you. This is exactly what I'm using. It lists all transactions, commercial and residential. The challenge again is the information is incomplete.
Posted by: formerPH at October 15, 2008 11:17 AM
Ok, sorry formerPH, I was assuming you were using the old school ACRIS site. That's the only site I know.
Posted by: Biff Champion at October 15, 2008 11:25 AM
Not sure what you mean for the prices - they're all there. $0 means it was a transaction where cash didn't change hands (duh) - family transfer, corporate reorganization, etc. The city/state require the price to be provided so they can collect recording/transfer/mortgage taxes.
As for size, the data comes from the Dep't of Finances property tax records. Since they tax buildings as a whole, they don't maintain size info for individual units. So it's useful for houses or commercial transactions, not useful for condo/co-op analysis. You should try a connection to one of the appraisal firms like Miller Samuel who maintain this info privately (proprietary, of course).
Posted by: NorthHeights at October 15, 2008 11:45 AM
What about Property Shark?
Posted by: mopar at October 15, 2008 5:15 PM
Former PH,
Good luck. You want square footage on co-ops, which are common shares and not real property, with reported frequently outright lies? NorthHeights is right, but he's eluding that you are way in over your head. Start with Miller Samuel or something like that or your client will be dumb money. This is not like compiling stats from the SEC Edgar website. If you don't know who the sucker is in the shell game, its you.
Posted by: invisible at October 16, 2008 12:09 AM
No offense or anything, but doesn't it seem like "ability to use Acris" would be at the top of the job requirements for any european real estate agency that wants someone to analyze that data?
Posted by: serpentor at October 19, 2008 12:02 PM
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