Israeli AI-powered real estate startup Localize.city announced on Thursday it is partnering with real estate companies and brokerage firms in New York City, to help renters and buyers to get a better understanding of the home listings.
Using its AI-based insight engine, Localize.city gathers and analyzes data from thousands of public, commercial, and proprietary databases to draw conclusions about every home in the five boroughs. These are presented in easy-to-understand terms, paired with visually stunning maps.
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Localize.city gives renters and buyers a real-time view of critical information for every home: it flags nearby construction sites, park improvement plans, the availability of amenities, dangerous intersections and more.
The data collector knowledge Localize.city helps pet lovers to know if there are dog-friendly parks, cyclists can know the bike-ability of the neighborhood, parents will get a range of information from school evaluations to whether the nearby subway station has an elevator for their baby stroller.
The Israeli technology will be integrated into marketing and leasing management solution Nestio and real estate listings platform RealityMX, NY real estate agency LG Fairmont, real estate firm Oxford Property Group, and real estate listings company Igluu.
Localize.city has raised an $8 million funding round in May to finance its expansion, with a current focus on New York City, as it is one of the largest global residential real estate markets with approximately 80,000 deals annually valued at $80 billion.
Steven Kalifowitz, President of Localize.city said. “Until now, New Yorkers got 20 – 30 minutes in an apartment before being asked to spend $1,000,000+ without knowing anything about the livability of the area. Localize.city is to be the source of unparalleled knowledge and transparency for their clients.”
Localize.city is a growing company with presently having 110 employees; 90 at its R&D center in Tel Aviv and 20 at its New York City offices.
Localize.city is a subsidiary of Madlan – a source of real estate information in Israel.