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Tenant Representative Services For Leased Space Outside Of NYC

The New York State Office of General Services (OGS) today issued a Request for Proposals (RFP) to solicit bids for a Tenant Representative to assist with real estate services, including the coordination and management of State leases, throughout upstate New York, Westchester County and Long Island.   “As part of our continuing efforts to provide the most efficient and cost-effective services for our client agencies and the taxpayers of New York, OGS is seeking to work with an experienced Tenant Representative to help us optimize our management of State-leased property in the upstate market,” OGS Commissioner Kenneth J. Ringler, Jr., said.

OGS is seeking a Tenant Representative who will work with the agency on issues such as market surveys and analyses, site selection and evaluation, lease negotiations, and space planning and programming services. The overall goal will be to reduce real estate occupancy costs through increased operational efficiency, improved coordination and scheduling of State agency relocations, consolidations and other office space issues. OGS, through its Real Estate Planning and Development (REPD) group, is responsible for providing comprehensive real estate services for executive department agencies, including management of State-owned office space as well as the negotiation and oversight of agency leases in privately-owned facilities. OGS currently oversees 600 leases statewide, totaling 13.2 million sq. ft. Tenant Representative Services are being requested for approximately 115 leases, totaling approximately 1.9 million sq. ft., that are located outside the metropolitan New York City area and expire prior to July 2007.

“OGS is constantly reviewing the utilization of office space for State agencies as we seek to place employees in modern offices with state-of-the-art resources, while also looking for opportunities to reduce costs,” said Commissioner Ringler. “A Tenant Representative will work with OGS staff and provide insight on how we can best achieve those goals.”  Under the RFP, all proposals must be submitted by March 7, 2003. Contract awards will be based upon an evaluation of the “best value” to the State, with an initial contract of three years and the State having two, one-year options to extend the contracts. Following the evaluations, an award is expected to be made in late June or early July 2003, pending approval of OGS, the Attorney General and the State Comptroller.

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  Real Estate Terms


FAIR MARKET VALUE
-The hypothetical price that a willing buyer and seller will agree upon when they are acting freely, carefully, and with complete knowledge of the situation.

PMI
-Private Mortgage Insurance; privately-owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers with down payments of less than 20% of a purchase price.

Real Estate Investment Trust REIT
- Mortgage REITs deal in investment and ownership of property mortgages. These REITs loan money for mortgages to owners of real estate, or invest in (purchase) existing mortgages or mortgage backed securities. Their revenues are generated primarily by the interest that they earn on the mortgage loans.

More Real Estate Terms >


Our New York Real Estate Lawyers can help you with real estate contracts and with many of the topics below, contact the New York real estate lawyers now.

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DID YOU KNOW ?

ALTERNATE DISPUTE RESOLUTION (ADR) can be a real estate legal option

This is A range of different forums and processes which can be utilized to resolve a dispute.

For example arbitration, collaborative problem-solving/consensus-building, negotiation, facilitation, mediation and conciliation.

Acceleration clause is a real estate contract option

A provision in a mortgage, trust deed, promissory note or contract for deed (agreement of sale) that, upon the occurrence of a specified event, gives the lender (payee, obligee or mortgagee) the right to call all sums due and payable in advance of the fixed payment date.

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NY State Published Real Estate Guide

New York State Attorneys Office on Tenant Rights, This is a guide on NY Tenent's Rights published by NY State. Read More >

Additional free copies of "Tenants' Rights Guide" are available from the New York State Attorney General's Office, 120 Broadway, New York, NY 10271 or from any regional office of Attorney General Eliot Spitzer.

 


NY real estate lawyers handle legal cases related to real estate laws for New York, the surrounding states and following areas:

  • New York
  • NYC
  • Brooklyn
  • Bronx
  • Queens
  • Long Island
  • Staten Island
  • NY Metro Areas

 


 

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