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A class action lawsuit has been filed against Compass, a brokerage firm, by two NYC renters who allege that the company's delisting of rental units from platforms like Zillow has created an artificial supply shock, resulting in higher rents. The plaintiffs claim that Compass controls over 80 percent of Manhattan's rental listings, enabling it to influence pricing significantly.
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A class action lawsuit has been filed against Compass, a brokerage firm, by two NYC renters who allege that the company's delisting of rental units from platforms like Zillow has created an artificial supply shock, resulting in higher rents. The plaintiffs claim that Compass controls over 80 percent of Manhattan's rental listings, enabling it to influence pricing significantly.
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Hidden Zillow listings created fake supply shock, raising NYC rents, lawsuit says
Lawsuit Claims Compass Brokerage Created Artificial Supply Shock in NYC Rental Market