Office of Asset & Property Management

Deputy Commissioner: Anne-Marie A. Hendrickson

Over the past 20 years, HPD and its partners have financed the preservation or creation of over two hundred thousand affordable units throughout the City. As more units are established, it is important that these properties remain financially and physically stable over the long-term. The Office of Asset and Property Management (APM) leads the agency effort to protect the City’s investment. Established in 2009, APM actively monitors the performance and regulatory compliance of City-sponsored projects and directly manages City-owned properties. The Office is comprised of five divisions:

  • Division of Asset Management is responsible for ensuring the longevity and affordability of units the agency has created and preserved. Its programs are geared to proactively identify at-risk buildings and portfolios and to stabilize struggling and mismanaged assets. The division tracks real-time information on the physical and financial condition of properties. This tracking is used as an early warning system to detect and mitigate potential risks to buildings. Working with owners, partners, and the Office of Development, the division helps reposition projects using a variety of approaches including financial assistance, management changes, and ownership changes.
  • Division of Co-op Readiness and Technical Services (CRTS) oversees the Tenant Interim Lease (TIL) program, which trains and assists tenant associations in City-owned buildings to develop economically self-sufficient low-income cooperatives, and the Technical Services program, which provides technical resources to various HPD programs by assisting in monitoring construction, repair work, preparing repair scopes, violations removal and other technical assistance.
  • Division of Housing Supervision oversees the portfolio of City-sponsored Mitchell-Lama developments, including affordable rental and cooperative housing. Through the Housing New York Plan, HPD and its sister agency, the Housing Development Corporation (HDC), are working to address the rehabilitation needs of the aging Mitchell-Lama stock and preserve the long term affordability of all remaining City Mitchell-Lama units.
  • Division of Property Management and Client Services (PMCS) manages and maintains City-owned residential and commercial properties, including properties in urban renewal development areas, until they can be transferred to responsible private ownership. The division administers the Emergency Housing Services (EHS) program for households displaced from their homes as a result of fires and City-issued vacate orders.
  • Division of Policy and Operations was established in 2013 to serve two key objectives for the agency: (i) connecting income-eligible New Yorkers to affordable housing through our Marketing and Affordability Oversight and Homeless Placement Services programs; and (ii) providing skilled technical assistance, including financial modeling, technology services, business analysis, and program planning, to the Office of Asset & Property Management.