N.Y. Pub. Auth. Law § 2895

§ 2895. Definitions. For the purposes of this title, unless a\ndifferent meaning is required by the context:\n 1. "Contracting officer" shall mean the officer or employee of a\npublic authority who shall be appointed by resolution of the board of\nthe public authority to be responsible for the disposition of property.\n 2. "Dispose" or "disposal" shall mean transfer of title or any other\nbeneficial interest in personal or real property in accordance with\nsection twenty-eight hundred ninety-seven of this title.\n 3. "Property" shall mean personal property in excess of five thousand\ndollars in value, real property, and any inchoate or other interest in\nsuch property, to the extent that such interest may be conveyed to\nanother person for any purpose, excluding an interest securing a loan or\nother financial obligation of another party.\n