{"id":8567,"date":"2013-10-21T05:00:27","date_gmt":"2013-10-21T12:00:27","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=8567"},"modified":"2021-02-03T15:43:27","modified_gmt":"2021-02-03T23:43:27","slug":"new-york-state-mta","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/new-york-state-mta\/","title":{"rendered":"New York State MTA"},"content":{"rendered":"

Yonah Bergstrom summarizes the real estate experience of New York State\u2019s Metropolitan Transit Authority \"MTAnicely: \u201cIt\u2019s a whole different world when you are leasing space underground,\u201d he told us at last week\u2019s Yardi Advanced Solutions Conference<\/a>.<\/p>\n

The MTA is not just one of the nation\u2019s largest public transportation providers, overseeing the operations of the New York City\u2019s subways, buses, two commuter railroads and numerous bridges and tunnels. The agency also contains a major real estate operation, leasing space for everything from newsstands to food carts in subway stations and generating up to $200 million a year in revenue. Utilities pay to place fiber optics within rights of way, and antennae space is rented so that cell phones can work, and there are countless other uniquely transit-oriented real estate transactions.<\/p>\n

\u201cOur tenants are scattered far and wide. Instead of vertically, like an office building, they are horizontal. Every mile of track, let\u2019s say, is a floor,\u201d explained Bergstrom, who has been with the MTA Real Estate Department since 1983 and guided its technology initiatives for last 14 years.<\/p>\n

For more than a decade, Yardi has provided the software platform that powers the MTA Real Estate Department\u2019s \u00a0financial record-keeping and reporting services using the company\u2019s signature product, Yardi Voyager<\/a>. In the process of transitioning to Voyager\u2019s commercial-focused version, Bergstrom has words of praise for the power of Yardi.<\/p>\n

\u201cIt has given us transparency, it has helped streamline our processes, and it has improved productivity. In government, the most important thing is transparency. When we went to Voyager, we allowed the Agency controllers access, with drill down to transactions, and we\u2019ve created custom analytics for the CFO\u2019s,\u201d Bergstrom said.<\/p>\n

\u201cWe needed a way to keep track of all of the properties and inventory, so Yardi has become that repository of anything and everything to do with any real estate interest that we have.\u201d The MTA also purchases properties for capital improvement projects.<\/p>\n

The sheer volume of diverse tenants spread over 11 counties and as far as 100 miles from Manhattan could be overwhelming, but 100 custom Yardi reports help the MTA manage their properties and have detailed information at their fingertips. \u00a0\u201cThis helps us respond to inquiries from the press, public officials and the general public. Before we had Yardi,\u00a0 these inquiries took days to research and respond to, \u201c \u00a0Bergstrom said. \u00a0Currently, a contract property management firm still brings in manual inspection reports from the MTA\u2019s tenants, which are then keyed in to Yardi. Moving to a mobile inspection system Yardi Inspection Mobile<\/a> is a focus for the organization and will save major staff time.<\/p>\n

\u201cWe aquire it, market it, negotiate it, lease it, manage it \u00a0and collect the rent for it\u2026and we use Yardi for all of it,\u201d \u00a0Bergstrom remarked.<\/p>\n

Bergstrom shared an example of when Yardi\u2019s database came in especially handy. A transit strike was planned, and his department needed to quickly notify building owners with stairwells feeding into the subway that they should lock the gates.<\/p>\n

\u201cMy boss came to me and said we have to find a way to send out letters to all the owners of these stairways. Can we do that? The strike is four days from now, and we need certified letters. Well, I happen to have all the stairway information listed in Yardi as one of the customizations. He went to lunch, and when he came back, there was a stack of 362 letters ready to go.\u201d<\/p>\n

But it isn\u2019t all about numbers and profits. Bergstrom shared that one of his favorite parts of his job is working with Yardi\u2019s support and sales staff. He\u2019s demonstrated the products to other public agencies to show what they can do, including to the Port Authority of New York\/New Jersey<\/a>, now also a Yardi client.<\/p>\n

\u201cI like working with the Yardi people. They\u2019re all really positive, great people. In my career experience, the best thing has been these 14 years that I\u2019ve carved out for myself at the MTA.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Yonah Bergstrom summarizes the real estate experience of New York State\u2019s Metropolitan Transit Authority nicely: \u201cIt\u2019s a whole different world when you are leasing space underground,\u201d he told us at last week\u2019s Yardi Advanced Solutions Conference. The MTA is not just one of the nation\u2019s largest public transportation providers, overseeing the operations of the New […]<\/p>\n","protected":false},"author":413,"featured_media":8568,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[116,285],"class_list":["post-8567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-yardi-client-profile","tag-yardi-government-services"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Yonah Bergstrom summarizes the real estate experience of New York State\u2019s Metropolitan Transit Authority nicely: \u201cIt\u2019s a whole different world when you\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New York State MTA\" \/>\n<meta property=\"og:description\" content=\"Yonah Bergstrom summarizes the real estate experience of New York State\u2019s Metropolitan Transit Authority nicely: \u201cIt\u2019s a whole different world when you\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/new-york-state-mta\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-21T12:00:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-03T23:43:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/10\/MTA-logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"531\" \/>\n\t<meta property=\"og:image:height\" content=\"570\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Leah Etling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leah Etling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/new-york-state-mta\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/new-york-state-mta\/\",\"name\":\"New York State MTA - 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