RFQ obtaining Real Estate Professional.pdf
PDF 193 KB Posted
- Attached to
- RFQ Obtaining Real Estate Professional
- Solicitation number
- RFP-#01-2024
- Issued by
- Montgomery County, New York
About this file
This document is a Request for Qualifications (RFQ) issued by the City of Amsterdam, New York seeking licensed real estate professionals to list and sell a municipally owned property located at 20-22 Main Street, Amsterdam, New York. The City acquired this 7,800 square foot, 3-story mixed-use building through tax foreclosure in 2018 and received a $1 million grant through the Restore NY program in 2021 to renovate the property, which requires a 10% match from the purchaser. The City is looking to procure an agent with experience in commercial real estate sales and working with state economic development grants to assist in finding a buyer who can successfully complete the full gut rehabilitation project. Qualifications are due by March 22, 2024, with interviews of selected candidates the following week and the property listed on the MLS and CBRE by April 12, 2024.
The City will prioritize respondents based on their experience selling commercial and municipally owned real estate, marketing strategy, and compensation expectations, which can include a traditional commission-based model or a flat fee service-based model. This is not a Service-Disabled Veteran-Owned Set Aside contract, and the City has not awarded an identical or substantially similar procurement contract within the past five years. The property is located within Montgomery County, New York.
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Text version
Department of Community & Economic Development
61 Church Street, Amsterdam, NY 12010 p: 518.841.4304 https://www.amsterdamny.gov
REQUEST FOR QUALIFICATIONS
City of Amsterdam
For the Purpose of Obtaining a Licensed Real Estate Professional to List a Municipally
Owned Property Located at 20-22 Main Street
February 2024
RFP #01-2024
General Information
A. Request for Qualifications
The City of Amsterdam (City) is seeking Statements of Qualifications from Licensed Real-Estate Professionals to list and sell a municipally owned property located at 20-22 Main Street, Amsterdam New York 12010.
B. Background
The City of Amsterdam acquired ownership of a property located at 20-22 Main Street (S.B.L.
55-35-1-48) through tax foreclosure in 2018 (Deed book and page- 2018:80680). In 2021 Empire State Development awarded the City of Amsterdam a $1 million dollar grant through the Restore NY program to renovate the building. Any potential buyer should be expected to understand the grant is on a reimbursement basis and requires a 10% match. Additional Grant requirements and documentation can be provided upon request.
The building is an approximately 7,800 sq. ft., 3-story mixed use building, property class 481- Att. Row. Bldg. Although there is evidence of a fire in the attic and there are structural issues with the floors on the 3rd floor, the building is currently structurally stable. Any potential purchaser should expect the project to be a full gut rehab with the potential of additional structural issues needing to be addressed.
C. Objectives
The City of Amsterdam is looking to procure a real estate professional who is licensed to sell real estate in New York State to list and successfully sell 20-22 Main Street, Amsterdam New York 12010. The agent should have experience in commercial real estate sales. The agent will be expected to assist the city in finding a purchaser who has successfully completed renovations of mixed use commercial and residential projects in Urban environments, the purchaser should https://www.amsterdamny.gov also have previous experience working with State economic development grants.
Key Dates
• Release of RFQ February 20, 2024
• Qualifications Statement Due March 22, 2024
• Interview of Selected Candidates Week of March 25 2024
• Award Professional Services Agreement April 2, 2024
• Property Listed on MLS and CBRE April 12, 2024
• City to begin reviewing offers May 10, 2024
Scope of Work
A. List Property
Upon the execution of a real estate contract, the selected real estate agent will list the property at a minimum on MLS and CBRE. The listing will include all information which is normally included in available information which is relevant for a prospective buyer to purchase the property. Included in the listing will be a minimum of 4 exterior pictures and one picture of each interior room. Clearly outlined in the listing will be the grant requirements associated with the ESD Restore NY Grant.
B. Show Property
The City’s agent shall arrange for all views of the property and will contact the Community and Economic Development Department and Buildings Department informing them of any and all showings.
C. Submitting Offer
The City’s agent will advise all prospective buyers and/or prospective buyer agents of the City of Amsterdam’s required documentation for the City to consider and review any offer submitted. If any prospective purchaser submits an offer with incomplete documentation the City’s agent will advise in writing, to the prospective purchaser/ and/or their agent, which documentation is missing and/or incomplete, prior to submitting the offer to the city. All submitted offers will be submitted to the Community and Economic Development Office.
Selection Criteria
A. Goals and Requirements
Respondents should carefully review the scope of work. Only respondents licensed to sell real estate in the State of New York will be considered. Applicants will be prioritized based on the https://www.amsterdamny.gov following:
1. Experience selling commercial real estate. (30 pts)
2. Experience selling municipally owned real estate. (30 pts)
3. Marketing Strategy (20 pts)
4. Compensation (20 pts)
B. Communication
Written questions or requests for clarification regarding the RFQ are to be submitted via email to Daniel Gray (dgray@amsterdamny.gov)
Submission
Respondents shall submit a combined, electronic copy of their qualifications statement via email to Daniel Gray (dgray@amsterdamny.gov). The statement should include the following:
• Experience as a real estate professional, including any experience listing and selling municipally owned properties.
• Expectations of compensation for the listing and sale of the property- the City is willing to consider both a traditional commission-based model or a flat fee service-based model.
• Marketing Strategy for the property including signage, listing method and any additional adverting.
• Proof of real estate license
• Proof of both Professional Liability Insurance and General Liability Insurance.
mailto:dgray@amsterdamny.gov mailto:dgray@amsterdamny.gov
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