Starting March 12, the city changed the way it displays property records in its online database, the Automated City Register Information System, or ACRIS. The modification was little noticed until the Real Deal ran a piece on its Web site the other day.
For example, as the publication observed, the closed sale price of a unit at 10 West 66th St. that had shown a recorded sale price of $1 million jumped to $1.75 million. A studio at 61 Jane St. had a price tag of $87,900 when the deal closed in 2009, then $439,500 after the change in ACRIS, from which StreetEasy.com and PropertyShark.com draw data.
The change is meant to reflect virtually everything a buyer expends to purchase a co-op, (more…)