Stav Stern Stonehenge
Stonehenge Saves Time and Improves Acquisition Process Using Reonomy
Stav Stern is an Investment Analyst for Stonehenge, a firm that with its investment partners owns a Manhattan based portfolio of approximately $3 billion. Stav works for the acquisition team. He is passionate about redefining buildings that need extensive work.
The Challenge:
Too much time spent finding new deals
Stonehenge is known as one of the more technology sophisticated real estate firms in Manhattan. Because of this culture, Stonehenge wasn’t satisfied with their previous data provider, PropertyShark. “It was deficient, even limiting the number of properties I could search.
We kept waiting, but they weren’t going to the next level,” says Stav.
In 2013, The Stonehenge team read about Reonomy’s launch in The Real Deal and contacted the team for a demo. Impressed with the data and technology Reonomy provided, the team signed up for a subscription. Stonehenge became one of the first Reonomy customers.
The Solution:
Search filters provide customization and speed.
“Reonomy’s Search is light years ahead of PropertyShark and easy to use. I now look up buildings by number of units and neighborhood. Once I find a building, Reonomy gives me the owner and then I can use the owner search to see their portfolio,” says Stav.
“The process of understanding neighborhoods, people and the business is exciting.”
Like most investors, Stonehenge is focused on finding ideal opportunities quickly. “Reonomy helps us be more efficient.” For example, “If an off-market deal happens and we wanted to know the cap rate it would have taken 7 steps to get that information. With Reonomy it only takes one step.” says Stav.