Goldman Sachs is investing US$40m (£25m) in an on-line real estate internet strategy which threatens to cut agents out of the deals process by undercutting their transaction costs.
The service will start on a pilot basis in Dallas, New York, Chicago, and San Francisco, targeting smaller transactions ranging from $5m-$50m (£3m-£32m) and lettings of up to 1,858 sq m (20,000 sq ft).
Property Week 20/04/00 page 1
