AGENCY TESTIMONY
Overview of DCAS Real Estate Services responsibilities
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122 sec
Commissioner Molina provides an overview of the responsibilities and functions of DCAS Real Estate Services, including managing the city's real property and overseeing its commercial rental portfolio.
- DCAS oversees a portfolio of more than 22 million square feet of privately owned leased space
- The department balances securing necessary real estate for city agencies while responsibly managing financial resources
- Work is accomplished by in-house staff and contracted tenant representative brokers
Louis Molina
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At Decast, real estate services is charged with acquiring, disposing and reallocating the city's real property.
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Additionally, we oversee the city's commercial, rental and surplus real estate portfolio through short and long term lease outs as well as sales at public auction.
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Combined our private long term and our short term leases drives nearly $40,000,000 in annual revenue.
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We also oversee the tracking of lease space and liaison with the controllers, Bureau of Contract Administration for the registration of all real property agreements, including new leases, renewal, renewal options, amendment licenses and more.
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Our leasing and acquisitions unit is responsible for identifying and negotiating agreements for private space, for city agency operations on behalf of the City of New York.
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We oversee a portfolio of more than 22,000,000 square feet of privately owned leased space, including sites selected to accommodate dozens of city agencies with their unique space needs.
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This important work demands that we balance securing real estate that the city agencies need to carry out their daily operations by developing program specifications, researching the market of available space, preparing test fits, preliminary plan and scopes of work for building and tenant space improvements and overseeing construction, renovation, and relocations, responsibly stewarding the city of New York's financial resources by negotiating lease terms with private landlords and obtaining approvals from the office of management and budget for all cost related to rent, operating expenses, real estate taxes, and tenant improvements.
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And ensuring that city tendencies support city wide and neighborhood planning goals, including supporting client agencies.
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This work is accomplished by in house staff and by contracted tenant representative brokers guided by our advisement and oversight.
