Jake Phelan

Jake Phelan
Occupation	Chief Technology Officer and Co-Founder of Spotlight Realty
Known for	Co-founding Spotlight Realty
Education	Cornell University

Jake Phelan (also known as Jacob Phelan) is an American entrepreneur and software engineer who is the co-founder and chief technology officer (CTO) of Spotlight Realty, an AI-powered real estate brokerage focused on the residential rental market in New York City. The company, which is backed by Y Combinator, uses artificial intelligence to automate much of the traditional brokerage process for landlords and property managers, charging a commission of approximately 4% — roughly one-third of the industry standard.

Career

Phelan studied at Cornell University. He co-founded Spotlight Realty alongside Raymond Allie and Aryan Sharma. At the company, Phelan serves as CTO, overseeing the technical development of the platform's AI capabilities.

Spotlight Realty launched publicly in early 2026 with backing from Y Combinator. The company positions itself as an alternative to traditional rental brokerages in New York City, where commission rates on rental transactions have historically exceeded 12% — amounting to nearly two months' rent. The company's launch coincided with regulatory changes in New York City, specifically the FARES Act, which shifted the burden of brokerage commissions from tenants to property owners, creating increased demand among landlords for lower-cost leasing solutions.

The Spotlight Realty platform employs AI agents that handle multiple stages of the rental leasing process. According to the company, its system responds to tenant inquiries, schedules property showings, follows up with prospective renters, answers questions about listings, and assists with rental applications. The service also includes professional photography, virtual tour creation, and home staging at no additional cost to property owners. Listings are distributed across major real estate platforms, and the platform provides digital tools for reviewing and comparing offers.

The company markets its service with the tagline "The agent that never sleeps for the city that never sleeps," a reference to both the continuous availability of its AI system and its focus on the New York City market. Spotlight Realty operates primarily in New York City, with early listings noted in the Queens borough.