RealtyRates.com Wins Contract With City of New York

RealtyRates.com Wins Contract With City of New York. RealtyRates.com said it has won a contract from the City of New York's Department of Finance to provide investment, financial, and market data to be utilzed in conjunction with the assessment of all commercial and industrial real estate throughout the city's five buroughs.

BRADENTON, FLORIDA - September 20, 2002

RealtyRates.com said it has won a contract from the City of New York's Department of Finance to provide investment, financial, and market data to be utilized in conjunction with the assessment of all commercial and industrial real estate throughout the city's five boroughs.

"As New York City's sole source supplier of such information, RealtyRates.com will provide a comprehensive package of data resources," said Robert Watts, president of RealtyRates.com.

"This package includes 24/7 online computer access to data involving 54 individual commercial and industrial property types and features RealtyRates.com's quarterly Investor, Developer, and Market Surveys, together with special reports, software, related resources, and technical support."

Financial terms of the one-year agreement with four renewal options were not disclosed.

With its proprietary, electronically-distributed data services, Bradenton, Florida-based RealtyRates.com (www.RealtyRates.com) provides government agencies and private industry world-wide with timely mortgage, equity, capitalization, and discount rate data essential to the evaluation, marketing, and disposition of income-producing property.

As the administration, enforcement, and tax collection authority for the nation's second largest city, the New York City Department of Finance (http://www.nyc.gov/html/dof/home.html#) is charged with the annual valuation of more than 930,000 individual properties.