Director of Property Valuations

City of New York•New York, NY

7d•$130,000 - $151,534

About The Position

DCAS Real Estate Services manages the acquisition, disposition, and reallocation of New York City real property, including the City’s commercial rental and surplus real estate portfolio and private-property leases for agency use. Financial Services seeks a Director of Property Valuations to lead the Property Valuations Unit and perform commercial real estate appraisals and appraisal reviews. The position oversees appraisal work related to the sale, leasing, acquisition, and use of real property, ensuring timely, professional reports that meet applicable appraisal standards and DCAS policies. The Director supervises unit staff, guides appraisers, manages employee time and leave, establishes and implements appraisal policies and procedures, tracks assignment progress, coordinates schedules and client objectives, and communicates with client agencies and DCAS personnel. The role also supervises consultant reports, reviews staff and contractor appraisals, authorizes consultant payment requests after review, and maintains orderly electronic and hard-copy records, including final reports and work files in accordance with USPAP requirements. The position prepares appraisal reports and market rental studies. Work includes property inspections as required; researching sales and rental transactions using resources such as Real Quest, CoStar, and Esri; contacting market participants; using Marshall Valuation Services and investor surveys in valuation analyses; and preparing Excel backup and Word narrative restricted appraisal reports. Reports must be accurate, clearly written, unbiased, non-misleading, and completed within a reasonable timeframe. Contractor appraisal reviews include a formal review submitted to the client and processing the contractor’s invoice after final review.

Requirements

One year of permanent service in the title of Supervising Appraiser (Real Estate).

Responsibilities

Supervise and manage the Property Valuations Unit and guide staff appraisers.
Oversee preparation of appraisal reports related to property sales, leasing, acquisition, and use, and ensure reports are completed within appropriate timeframes.
Manage unit employee time and leave.
Formulate, implement, and modify appraisal policies and procedures; ensure staff adhere to professional appraisal standards and remain current with standards and requirements.
Establish and agree on assignment goals and objectives with client agencies, track assignment status, adjust schedules, and hold weekly unit meetings.
Supervise consultant reports for client agencies, review those reports, authorize payment requests upon completion of review, and provide valuation guidance to clients and DCAS personnel.
Supervise and review appraisal reports prepared by staff, checking data, analysis, professional quality, applicable guidelines, DCAS policies, timeliness, accuracy, clarity, and lack of bias or misleading content.
Maintain orderly electronic and hard-copy records and ensure the shared drive contains final appraisal reports and work files in accordance with USPAP requirements.
Prepare appraisal reports and market rental studies, including conducting property inspections as required.
Prepare Excel backup and Word narrative restricted appraisal reports according to current appraisal guidelines.
Research market sales and rental transactions using resources such as Real Quest, CoStar, and Esri, and contact market participants, including brokers.
Use Marshall Valuation Services in the cost approach and market surveys and actual transactions to determine applicable capitalization rates.
Review contractor appraisals for accurate data and analysis, compliance with USPAP guidelines and DCAS policies, timeliness, and clear, accurate, unbiased reporting.
Complete formal appraisal reviews of contractor reports for submission to clients and submit contractor invoices for payment after final review.