We are excited to announce that in the coming weeks, verified contract dates and sold prices will be available to Marketproof New Development customers.
Marketproof leverages AI text extraction that uses advanced machine learning algorithms to automatically identify and extract contract dates and prices from ACRIS property transfer records. Initially, this data will be available for Manhattan’s new development sales and will later expand to include the other areas of NYC.
While contract dates and prices have been available since the launch of Marketproof New Development in 2021, that information is optimized for timeliness, enabling customers to know that a listed or shadow unit had gone into contract or had been sold. It relies on real estate agent reporting and can be incomplete as contracts for many new development units are not reported (and the units not listed for sale).
With the addition of ACRIS verification, contract details are extracted for every sale from recorded documents to produce a complete and accurate picture, enabling Marketproof customers to stop spending hours sifting through ACRIS documents manually. This will help new development research and sales teams, developers, investors, lenders, and other interested parties better manage existing projects as well as plan and underwrite new ones.
Getting started with Marketproof
Verified contract dates and sold prices are another way Marketproof New Development is here to help you with your real estate business. With Marketproof New Development & Condo, you can access available inventory, past sales, and more for 240,000 condos. You can also see the pipeline of future projects. Create an account today, and get a 7-day free trial.
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