The new site follows Gerrity's For The Tenant.com freeoffice space search site started in 2004, as GlobeSt.com previouslyreported. Real Estate Channel will also be free to all users,Gerrity tells GlobeSt.com.
He estimates the gross cost for launching the site will be about$15 million and anticipates the project will generate about $300million in gross advertising revenue in five years. Real EstateChannel will have a startup staff of 20 and is expected to grow to200 employees over five years, Gerrity tells GlobeSt.com.
He says the site is "a newly emerging IP-based broadcastingnetwork for the delivery of customized video-on-demand [VOD] realestate programming and content to any person on anyInternet-enabled device, anywhere in the world, anytime."
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