Q&A
Cost-effectiveness of relocating DFTA to 14 Wall Street vs renovating 2 Lafayette Street
0:45:57
·
132 sec
Council Member Marte questions Commissioner Molina about the cost-effectiveness of relocating the Department for the Aging (DFTA) to 14 Wall Street instead of renovating their current location at 2 Lafayette Street. Molina defends the decision, citing a $31 million savings compared to another option at 250 Broadway.
- The renovation cost for 2 Lafayette Street was estimated at approximately $80 million
- Molina argues that renovation would have required temporary relocation, adding to costs and disrupting services
- The commissioner commits to providing more detailed information about the cost comparisons
Christopher Marte
0:45:57
You re repeatedly mentioned that you're looking for the best deal for New Yorkers to save $31,000,000.
0:46:04
However, wouldn't it be cheaper to renovate the current to Lafayette location where DIFTA is at than actually move a whole agency to somewhere new?
0:46:15
In 2021 July 2021, there was appraisal of renovation cost for 2 Lafayette Street.
0:46:21
How much was that?
Louis Molina
0:46:23
I'd have to get back with you on the exact numbers of what the possible cost of renovating 2 Lafayette was.
0:46:30
I think it's important.
0:46:31
I mean, I'll get back to you with the number, but I think it's important to understand that if we I believe it was more costly, but I'll confirm what that number is for you.
0:46:41
The other question is if we were to pursue that, we would have still had to find temporary space.
0:46:46
For Department of the Aging, and they would have to go somewhere to be able to continue their operations.
0:46:52
So what this deal represents with 14 Wall Street is an over $31,000,000 savings versus going to 250 Broadway.
Christopher Marte
0:46:59
But from your experience of managing massive real estate portfolios in your current position and your previous position at DOC, wouldn't it be cheaper in the long run to relocate an agency for a year or 2 while renovation happened at a much cheaper space and then bring them back and pay lesser rent.
Louis Molina
0:47:20
I don't know.
0:47:20
I mean, each scenario has to be evaluated on its own.
0:47:24
So as I sit here today, I can't tell you if a complete gut rehab and rebuilding of Tulafia yet would have been cheaper or not because I don't have those numbers in front of me.
0:47:34
It may have been.
0:47:36
And why was Tulafia inadequate for DIFTA's headquarters?
0:47:42
Too Lafayette, so I'm just being notified now.
0:47:44
The the Too Lafayette renovation cost would have been approximately $80,000,000.
0:47:54
And that would not have counted any temporary relocation lease that we would have had to pay for or what the impact of that operation to try to move aging to a temporary location would have had and not only its workforce, but also the clients that they serve.
