Divisions

Asset Management

NYCEDC’s Asset Management (AM) Division manages approximately 200 City-owned real estate properties as well as non-traditional assets across all five boroughs of New York City. AM pursues a multiple-bottom line strategy, targeting not just economic returns but also multiple social metrics including but not limited to job creation, sustainability, thrive in place, affordability and cultural vitality. 

Responsibilities

AM’s managed assets are divided into multiple portfolios, each managed by a Portfolio Manager, with a Portfolio Surveillance group that monitors and enforces standards and practices across the portfolio. The division-wide portfolio encompasses all property types including those that are standard in the real estate industry (Office, Retail, Multi-Family, Industrial) with individual Portfolio Managers also managing assets particular to public sector and public/private (Maritime, Public Markets, Cultural Assets, Transportation Assets, Ferry and Cruise Portfolios). AM’s portfolio includes long-term net ground leases, multi-tenanted facilities in which AM directs the day-to-day leasing/management efforts as well as specialized product types such as the public retail markets, cruise terminals, and city-wide Ferry. 

  • Effective project planning, leasing, management, maintenance, contract procurement, budgeting, financial reporting, administration, and risk management (e.g. insurance)
  • Preserving and improving both infrastructure and properties
  • Providing critical infrastructure services as part of OEM’s response team
  • Implementing/cooperating with citywide programs to eliminate blight
  • Assisting tenants, private businesses, NYCEDC departments, and City agencies in real estate matters
  • Providing technical assistance in support of NYCEDC’s economic development initiatives

Department Leadership

Matthew Kwatinetz
EVP, Asset Management Revenue
(212) 312-3721

Prior to EDC, Mr. Kwatinetz was the Managing Partner of QBL Partners, a real estate advisory firm focused on multiple bottom line outcomes. QBL’s clients include City of Seattle, City of Austin, King County (WA), City of Surrey (BC), City of SeaTac, Penn’s Institute for Urban Research, City of Shoreline (WA) and the US Department of Energy. From 2010, he worked for Kinzer Real Estate Services, where he supported real estate investment decision-making and site selection for such clients as the University of Washington, Alaska Airlines, and Starbucks Corporation. For Starbucks, he led a team to negotiate the creation of a $150mm manufacturing plant in Augusta, GA. Following that project, he was recruited by the Mayor of Augusta to create Augusta Regional Collaboration Project, which worked with the City and State to consolidate a new research university into the downtown. He specializes in developing quantitative urban models to change the underlying economics of multiple bottom line development— he has presented these models for ICSC, Americans for the Arts, NAIOP, Net Impact, and the Centre for Policy Studies on Culture and Communities. Matthew received his MBA in Real Estate at The Wharton School. He is a graduate of Deep Springs College and Harvard University.