New spatial information service offers competitive edge

Real Estate Weekly, Feb 9, 2005 by Jonas Rudolfsky

In today's fast-paced and ultra competitive world of commercial real estate, swift access to crucial information can make all the difference in securing the right tenant, winning that next assignment or making informed investment decisions.

Whatever your role in the world of commercial real estate, whether it be brokerage, finance, investment or development, access to information on both individual property and its surrounding neighborhood is vital to the decision-making process.

In a deal-driven industry such as real estate, productivity is everything. The more deals you can evaluate, the more you can make.

In over a decade as a real estate broker and investor, I was truly amazed at the inefficiency with which advancing technology has been applied to this process. For years I've been looking for a better way to organize vital information on New York City properties and neighborhoods.

While many services have emerged that are adept at listing individual property information and space availability, this information is just one part of the equation.

Geo-spatial data about the surrounding area is not taken into account. In addition to building descriptions and owner and tenant information, crucial information on such things as zoning, land use, traffic count and transportation access was previously available only through hours of individual research on city web sites and personal property tours that often result in a lot of aimless driving and notebooks filled with observations.

Realizing that there had to be a better way to organize this information instead of thumbing through notepads, researching and redrafting the same information for each individual deal, I started building a product around my personal experiences.

Using readily available desktop mapping applications, I discovered it was possible to create layers and layers of valuable information in one platform that could be of use to all sectors of the real estate industry, as well as a wide variety of other industry applications.

Over four years, these layers of information were assembled to easily create data sets in a variety of ways, from the individual parcel, street map, zip code or borough covering every building, lot and developable parcel in the city.

For the first time, current information on tax liens, auctions, foreclosure sales, zoning, traffic counts, land use, his pendens, building permits, tax values, comparables and a host of other property and neighborhood information was now available at one location. MightyMap.com was born!

With just a few clicks, for example, retail brokers can zero in on any neighborhood in the city, quickly identify the major commercial thoroughfares, analyze traffic count, select desirable locations and view current tenant information.

Residential brokers can check comparables, identify foreclosure sales and property auctions and find developable property in the most desirable neighborhoods throughout the five boroughs.

Commercial brokers can view detailed property descriptions, subway locations, tenant information and contact data for current property listings.

MightyMap.com combines the best of information available from a wide variety of sources into one, easy-to-use subscription service.

The more you know about real estate, the more you appreciate how MightyMap breaks this data down into logical categories.

Supported by daily online training sessions and telephone support, MightyMap has quickly become an invaluable tool for a growing number of real estate brokers, investors, appraisers, attorneys, architects and expediters.

As a commercial real estate broker and investor first and foremost, I developed MightyMap as a simple, powerful and essential information tool for the real estate industry. MightyMap serves your strategic interest in having a clear, concise, affordable source of complete spatial information at your fingertips.

Best of all, you can evaluate MightyMap for free. I believe that our well organized approach and rich data environment will make MightyMap an essential tool for any serious real estate practitioner.

World's most expensive office locations

2004   2003      Country           Town           District

1      1      United Kingdom   London         West End
2      2      France           Paris          CBD
3      3      Japan            Tokyo          Centre
4      4      United States    New York       Midtown
5      17     China            Hong Kong,     Centre
6      6      Russia           Moscow         CBD
7      7      Italy            Milan          CBD
8      5      Sweden           Stockholm      Birgerjarisgatan
9      8      Switzerland      Geneva         CBD
10     10     Ireland          Dublin         2/4 Districts
11     11     Germany          Frankfurt      CBD
12     13     South Korea      Seoul          Centre
13     15     Belgium          Brussels       Quartier Leopold
14     9      Greece           Athens         Syntagma Square
15     16     Netherlands      Amsterdam      South Axis
16     14     Spain            Madrid         CBD
17     12     Australia        Sydney         Centre
18     19     India            New Delhi      Centre
19     22     Denmark          Copenhagen     CBD
20     na     Kuwait           Kuwait City    CBD
21     21     Austria          Vienna         CBD
22     20     Poland           Warsaw         CBD
23     26     Canada           Toronto        Centre
24     1s     Finland          Helsinki       CBD
25     27     Hungary          Budapest       CBD
26     28     Portugal         Lisbon         Av de Liberdade
27     25     Norway           Oslo           CBD
28     30     Taiwan           Taipei         Centre
29     32     Czech Republic   Prague         CBD
30     36     Brazil           Sao Paulo      Centre
31     34     Israel           Tel Aviv       CBD
32     23     Romania          Bucharest      CBD
33     29     China            Shanghai       Centre
34     33     Mexico           Mexico City    Centre
35     31     Singapore        Singapore      CBD
36     na     Croatia          Zagreb         CBD
37     35     New Zealand      Auckland       Centre
38     na     Lebanon          Beirut         CBD
39     38     Lithuania        Vilnius        CBD
40     Na     Slovakia         Bratislava     CBD
41     40     Turkey           Istanbul       Zincirlikuyu
42     41     Argentina        Buenos Aires   Centre
43     42     South Africa     Sandton        CBD
44     37     Estonia          Tallin         CBD
45     43     Philippines      Manila         Centre
46     45     Malaysia,        Kuala Lumpur   Centre
47     44     Thailand         Bangkok        CBD

                                  Total
                                Occ Costs
                                 USD s/f
2004   2003      Country         per year

1      1      United Kingdom       199
2      2      France               120
3      3      Japan                 92
4      4      United States         86
5      17     China                 81
6      6      Russia                79
7      7      Italy                 72
8      5      Sweden                71
9      8      Switzerland           68
10     10     Ireland               64
11     11     Germany               60
12     13     South Korea           58
13     15     Belgium               56
14     9      Greece                54
15     16     Netherlands           54
16     14     Spain                 54
17     12     Australia             53
18     19     India                 47
19     22     Denmark               45
20     na     Kuwait                45
21     21     Austria               43
22     20     Poland                39
23     26     Canada                37
24     1s     Finland               37
25     27     Hungary               36
26     28     Portugal              36
27     25     Norway                36
28     30     Taiwan                35
29     32     Czech Republic        34
30     36     Brazil                33
31     34     Israel                33
32     23     Romania               33
33     29     China                 32
34     33     Mexico                32
35     31     Singapore             31
36     na     Croatia               30
37     35     New Zealand           30
38     na     Lebanon               29
39     38     Lithuania             26
40     Na     Slovakia              25
41     40     Turkey                22
42     41     Argentina             21
43     42     South Africa          20
44     37     Estonia               20
45     43     Philippines           15
46     45     Malaysia              13
47     44     Thailand              13

* Occupancy costs are calculated on a net and are
based on the top rent in each location, with each
location being the most expensive it its country
or region. Table provided by Business Space Across
the World, an annual publication produced by
Cushman & Wakefield.