NEW YORK, Dec. 8, 2017 /PRNewswire/ -- Perchwell, a data platform for residential real estate brokers, today announced that they are signing a lease with SL Green Realty for office space at 110 Greene Street in SoHo. The location can house approximately 40 staff and will give Perchwell the space to continue to build its team and position itself for growth as additional brokerages migrate to its platform.
"Since we launched the product earlier this year, we've seen a lot of interest from brokerage firms," said Perchwell founder Brendan Fairbanks. "To keep up with the demand, we need to grow our team across all functions. This new space will help facilitate that growth."
"Rapidly growing companies like Perchwell are a perfect fit for 110 Greene Street. The creative offices are cutting-edge and the location is unmatched. It is conveniently located near some of the city's best retail, restaurants and nightlife and access to mass transit," said SL Green's Executive Vice President, Director of Leasing and Real Property, Steven Durels.
Residential real estate has yet to realize the same level of technological advances that other industries have in recent years. Perchwell is aiming to be the data backbone of the real estate market with a complete technology solution for brokers and agents, enabling them to manage listings, conduct market research, and collaborate with clients on a single platform. Firms including CORE, Warburg, Berkshire Hathaway, Fox Residential, and Sloane Square are already using Perchwell and more will be announcing soon.
Perchwell licenses its product brokerage-wide, a model that has allowed the company to generate revenue and position itself for growth. "The business model is clear and sustainable, which is important to establishing trust with clients," said Fairbanks.
"The industry is clamoring for access to reliable data in a format that's actually usable in the context of how brokers work," Fairbanks said. "We're seeing interest from firms that run the gamut in size and market share. We've had success to date because we're relentlessly focused on empowering real estate professionals to provide the best service to their clients most efficiently – and grow their businesses as a result. That's all we do and I believe maintaining myopic focus is extremely important in this (or any) business."
The lease deal is for 3500 square feet for a term of seven years.