Cohoes IDA LDC Realtor Services RFP

The Cohoes Industrial Development Agency (CIDA) and Cohoes Local Development Corporation (CLDC) are seeking commercial real estate broker services through a Request for Proposals (RFP) for their Co-Development Committee. The procurement focuses on marketing and developing six parcels located at 222-230 Remsen Street and 23 Columbia Street in Cohoes, New York, totaling approximately 0.58 acres. Required services include advertising and listing properties, developing sales and leasing strategies, negotiating with potential buyers/lessees, coordinating real estate transactions, performing market analysis, and conducting due diligence. The CCDC is specifically seeking proposals that align with their vision for mixed-use development combining market-rate housing with community assets and commercial uses. Evaluation criteria will assess firm qualifications (25%), staff qualifications (35%), and proposed fees (40%). Proposals are due on March 27, 2025, at 4:00 PM local time, with questions accepted until March 13, 2025. Interviews are tentatively scheduled for April 2-4, 2025, with broker selection expected by April 15, 2025.

The RFP does not indicate a service-disabled veteran-owned business set-aside, but does establish a 25% Minority and Women-Owned Business Enterprise (MWBE) participation goal. Proposing firms must carry $1 million per occurrence and $2 million aggregate commercial general liability insurance, along with other standard coverage requirements. No incumbent vendors or prior contractors were identified as having been awarded similar contracts within the past five years. The property includes one 1,601 square foot building (a former service station) and five vacant lots situated in Cohoes' Central Business District, with most parcels having been vacant since a 2017 fire. While a specific contract value was not disclosed, the comprehensive nature of the real estate broker services and the strategic development objectives suggest a potentially significant engagement. The selected broker will play a critical role in transforming these properties and supporting the CCDC's urban redevelopment strategy.