Zillow, the leading online national real estate media firm, is acquiring StreetEasy, which is the major player in the New York City marketplace. The Seattle-based company is paying $50M cash in the deal.

StreetEasy attracts about 1.2M unique visitors per-month with its listings of sales/rental listings, new developments and real estate market news. It also covers Philadelphia, Washington and the Hamptons.

Zillow CEO Spencer Rascoff, called StreetEasy “an incredibly strong and recognized brand in New York City.”

StreetEasy has 34 staffers.

Zillow recorded 61M unique visitors during July. It registered a 69 percent jump in second-quarter revenues to $47M. It posted a $10.2M loss vs. $1.3M year ago profit.

The company today announced a secondary stock offering of $5M shares with the proceeds allocated to general corporate purposes.

Zillow shares trade at $87.48. There 52-week range is $97.29 and $23.