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Department Overview:

NYCEDC’s Asset Management Division manages 65 million square feet of real estate properties and non-traditional assets across all five boroughs of New York City including commercial and industrial real estate properties as well as transportation, critical infrastructure, and energy assets. The division pursues a triple-bottom line strategy, targeting economic returns and multiple social metrics including job creation, and growing equitable neighborhoods; as well as ensuring a thoughtful approach to incorporating sustainable and resilient measures. The division-wide portfolio encompasses a wide variety of property types, including Retail, Mixed-Use/Commercial, Industrial, Transportation assets including Cruise, Freight/Rail, and Aviation, and Cultural assets.

The Development department works with the portfolio and asset managers to identify opportunities for the redevelopment and/or repositioning of these assets to both improve the economic returns of the assets and to incorporate EDC’s strategic policy initiative directives. Current focus areas include the Manhattan Cruise Terminal, the Sunset Park campus (including the Brooklyn Army Terminal and Made in New York Campus), the Teleport Campus, the Brooklyn Marine Terminal, and the Hunts Point Food Market.