Antitrust suit claims Compass pullback from StreetEasy raised NYC rents

Compass International Holdings is adding yet another antitrust claim to its growing legal and regulatory docket. On Wednesday, plaintiffs Peter Castaneda and Haley Gelfand, both New York City renters, filed an antitrust lawsuit against Compass in U.S. District Court for the Southern District of New York. The lawsuit alleges that through its acquisitions Compass International Holdings has created a monopoly, which it has used to harm consumers as well as competitors like Zillow when it decided to pull its rental listings from StreetEasy earlier this month. The plaintiffs claim that this move reduced consumer choice, while also driving up rents and brokerage fees. “Compass created a trust and has attempted to monopolize or actually did monopolize the market for rental units in the geographic market as a result of its acquisition of some its largest competitors,” the complaint states. “From the halls of Congress to courtrooms across the country, Compass’s conquest to seize control over various housing markets has drawn consternation, scrutiny and litigation in a challenging attempt to quell the impending crisis caused by Compass. That crisis has now come to pass.” According to the com...