Director of Property Valuations

City of New York•New York City, NY

About The Position

DCAS Real Estate Services manages the acquisition, disposition, and reallocation of New York City property, the City's commercial rental and surplus real estate portfolio, and leases of private property for City agency use. Financial Services is seeking a Director of Property Valuations to oversee and manage the Property Valuations Unit, perform commercial real estate appraisals and appraisal review reports, and provide real estate valuation guidance to client agencies and DCAS personnel. The role supervises unit staff and appraisal work, develops and implements appraisal policies and procedures, and ensures reports meet applicable professional standards and DCAS guidelines. It also includes preparing appraisal reports and market rental studies, reviewing staff and contractor reports, managing assignments and deadlines, and maintaining appraisal records and work files. The stated qualification requirement is one year of permanent service in the title of Supervising Appraiser (Real Estate).

Requirements

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

Responsibilities

Supervise and manage the Property Valuations Unit and staff involved in appraisals related to property sale, leasing, acquisition, and use.
Ensure appraisal reports are completed within required time frames and guide appraisers in their work.
Oversee unit employees' time and leave.
Formulate and implement appraisal policies and procedures, updating them as necessary.
Ensure appraisers follow professional appraisal standards and keep current with appraisal standards and requirements.
Identify and agree on assignment goals and objectives with client agencies, track assignment status, adjust work schedules, and hold weekly unit meetings.
Supervise preparation and review of consultant reports for client agencies and authorize payment requests after review.
Interface with clients and DCAS personnel at all levels to provide guidance on real estate valuation matters.
Supervise and review appraisal reports and ensure electronic and hard-copy records are maintained in an orderly manner, including final reports and work files on the shared drive in accordance with USPAP requirements.
Prepare appraisal reports and market rental studies, including property inspections when required, Excel backup, and Word narrative restricted appraisal reports under current guidelines.
Research market sales and rental transactions using resources such as Real Quest, CoStar, and Esri; contact market participants, including brokers, to research transactions and available properties.
Use the Marshall Valuation Services cost estimating manual for the cost approach and market surveys and actual transactions to determine applicable capitalization rates.
Prepare timely, accurate, clearly written, unbiased, and non-misleading reports that consider current DCAS sale, acquisition, and leasing policies.
Review staff appraisals for accurate data and analysis, professional presentation, adherence to current guidelines and DCAS policies, and timely completion.
Review contractor appraisals for accurate data and analysis, adherence to USPAP and DCAS policies, professional presentation, and timely completion.
Complete a formal appraisal review of contractor reports for submission to the client and submit the contractor's invoice for payment after final review.