Real Estate Services

DCAS Real Estate Services is the real estate arm of the City of New York. We are responsible for the acquisition, disposition and reallocation of City property. RES oversees the City’s commercial rental and surplus real estate portfolio, and in addition, negotiates and administers City leases of private property.

Real Estate Services is responsible for the City's leased portfolio, which includes over 22 million square feet of private space occupied by City agencies. Services provided for leased space include negotiation of lease terms, execution of legal documents, coordination of construction, renovation and relocation efforts, and auditing of operating expenses. In addition, Real Estate Services administers over 400 short- and long-term agreements that permit the private use of City-owned property.

Lastly, when agencies consolidate or downsize, certain properties are declared surplus and are relinquished to DCAS. Real Estate Service oversees these properties in the interim, until a new City use can be identified or, if no uses are found, until they are deemed suitable for disposition.