Position Overview: Reporting to the Vice President, Hunts Point, the AVP is responsible for supporting the growth and management of a portfolio of real estate assets consisting of industrial and distribution facilities within the Hunts Point Food Distribution Center campus in the South Bronx. The AVP will focus on creating the physical assets and supporting initiatives in New York City that fulfills NYCEDC's double-bottom line strategy of producing both economic and social returns.
Essential Duties and Responsibilities:- Support negotiation and contracting across a range of agreements, including operating agreements, leases, permits, and other contractual matters, in partnership with EDC Legal team, the Law Department, and outside counsel where appropriate.
- Identify and execute redevelopment opportunities within the portfolio, including planning RFPs and capital projects to modernize, expand, or reposition assets; develop financial underwriting for proposed investments and oversee team members in building financial models.
- Partner with the Business Operations team to prepare annual revenue/expense budgets. Verify forecasted revenues and utility reimbursement calculations for the portfolio.
- Serve as a key external representative at required engagements.
- Manage day-to-day asset management functions, including tenant communications, monthly portfolio meetings to reconcile management budgets, review lease pipelines, plan for lease expirations, evaluate tenant financial reports, manage arrears and collections, investigate insurance issues, advise on any ongoing litigations.
- Participate in special projects with city agencies and City Hall.
- Prepare contracts, requests for proposals (RFPs), reports, and key correspondence.
- Other duties as assigned.
Qualifications:- Bachelor's Degree and at least 5 years of experience in real estate development, asset management, urban planning, private equity, management consulting, economic development and/or related field
- Master's degree in a related field preferred
- Experience with property management, lease administration, negotiations, and tenant relations
- Strategic and independent thinker with the ability to structure and present a compelling plan
- Effective project management and financial analysis skills, with a detail-oriented approach
- Demonstrated written, verbal, and analytical communication skills, with an emphasis on strategic and persuasive communication
- Proficient in Microsoft Office
- New York City residence is required within 180 days of hire
Salary Range
$110,000-$113,000 USD
NYCEDC is committed to offering competitive benefits to support employee health, happiness, and work-life balance. We offer comprehensive benefits and unique perks to ensure NYCEDC employees flourish in their professional and personal lives:
- Generous employer subsidized health insurance
- Medical, dental, and pharmacy plans
- Vision and hearing benefits
- Flexible spending accounts for healthcare and dependent care
- Short term and long-term disability coverage
- 100% employer covered life insurance and supplemental life insurance coverage
- Up to 25 vacation days
- Floating Holidays and Summer Fridays
- Parental leave - up to 20 paid weeks
- Retirement savings programs
- Company-paid 401(a) defined contribution plan
- 457(b) tax-advantaged retirement savings plan
- Tuition Reimbursement program
- Continuing education and professional development
- Public Service Loan Forgiveness (PSLF) eligible employer
- College savings plan
- Backup childcare
- Gym membership discounts
- A Calm.com membership for mindfulness and mental health support
- Employee discounts through Plum Benefits and much more
Benefits listed above may vary based on the length and nature of your employment with New York City Economic Development Corporation. These benefits are subject to be modified at any time, at the discretion of the organization.
