It won’t make it cheaper to buy or lease an apartment here, but a Web site scheduled to launch September 11 could cut down on the time and shoe leather it takes to find one. Said to be the first service of its kind in NYC, will allow owners and listing brokers to electronically contact pre-qualified buyers and renters. It will enable apartment viewings to be scheduled, buyers and renters to be notified about properties that meet their criteria and offer detailed information about buyers and renters to participating brokers.

Daniel Levy, president of the firm, told that the company will act as a co-broker, “but the percentage we take will vary, depending on the apartment, although typically it will be less than the traditional 50:50 split.” There will be no charge to buyers or renters. In fact, they can earn a rebate if they find a home through the site. CityRealty will feature proprietary information about more than 1,000 buildings representing over 200,000 units.

Although not a multiple listing service, CityRealty will allow those seeking shelter in Gotham to learn about the offerings of dozens of brokers from a single source. “But we’re not an MLS,” Levy says. “We think MLSs are great, but we’re a consumer service. We provide services directly to the consumer, be they buyer, seller, or renter, unlike MLSs, which are developed to serve the real estate industry.”

Goldman Sachs has invested in Real Estate On-Line LLC, the majority owner of No information was available about how much money was involved or what percentage of the company was purchased.

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