By Maria Rocha-Buschel
LLC involvement has been increasing in residential real estate purchases in the last 15 years, a new study has found. RealtyHop, a sister site of rental listings website RentHop, looked at data from 2004 to 2018 in four of the five boroughs, as well as co-op versus condo purchases.
One of the key findings of the study was that LLC (limited liability corporation) involvement increased to nearly 14 percent of transactions and accounts for almost 25 percent of the value of residential real estate purchases in that time frame.
The data science team combed through records on ACRIS (Automated City Register Information System), information made public by the city government, to examine how the use of LLCs has changed over time. Staten Island was not included in the study because data for the borough is not published on ACRIS.