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NEW YORK CITY-More than 1,500 people searching to rent or buy an apartment here have registered with CityRealty.com, the residential real estate exchange, after a week of operations. The company expects to register approximately 7,500 active, pre-qualified renters and buyers in about a month, which the firm says would make the site the largest single aggregation of apartment buyers and renter in this market. Information about over 1,000 apartment buildings is available at www.cityrealty.com, which translates into 200,000+ units

Unlike a multiple listing service, which is a data base of properties that brokers and buyers search, this site uses patent-pending, reverse-listing technology that enables those looking for a new home to list themselves anonymously and receive offers electronically from participating brokers.

When buyers and renters register, they can select from the list of buildings they would like to live in, how big a unit they are looking for, when they plan to move, etc. When an appropriate unit becomes available, brokers contact them electronically.

Prospective tenants also choose to be notified via e-mail when a new apartment comes to market that fits their requirements. The site can also be used to schedule and appointment to view a property.

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