Location Designation: Hybrid - 1 day per quarter
New York Life Real Estate Investors is seeking an associate to join its Commercial Real Estate Closing team. This role is remote and required to be in the New York office 1 day per quarter. The position works closely with loan underwriters, borrowers, brokers, legal counsels, and third parties to facilitate the efficient closing of each transaction while ensuring all underwriting and closing requirements are met.
What You'll Do:Loan Application & Commitment Coordination:- Collaborate with loan originators to facilitate the preparation, negotiation, and execution of real estate loan application commitments and term sheets.
- Transaction types include mortgage, mezzanine, co-lending, portfolio, construction, hotel, bridge, and complex structured loans.
- Reviewing and negotiating loan documents in coordination with internal legal counsel, external local counsel, borrower's counsel, and other relevant stakeholders.
- Ensuring timely receipt and review of all required due diligence materials (e.g., property reports, title and survey, tenant lease documentation, insurance certificates)
Manage disbursement activities by:- Preparing fee reconciliation, reviewing and approving settlement statements.
- Directing the allocation of funds due to the Company (e.g., escrowed deposits, holdbacks, fees) and coordinating payment of related expenses (e.g., legal, third-party costs).
Property Acquisition and Disposition Closing Management- Prepare entity formation documents and coordinate lien searches
- Order title commitment and coordinate survey requirements
- Coordinate execution of closing documents
- Maintain tickler to ensure closing deliverables are timely
- Coordinate with accounting team and asset management team to reconcile fees and funding sources
Transaction Management System Oversight- Utilize the Department's real estate transaction management platform to:
- Maintain accurate and complete data for each transaction.
- Ensure all required internal approvals (underwriting, due diligence, investment committee) are secured pre-closing.
- Facilitate a smooth handoff of closed loans to the loan management and asset management division.
Project & Initiative Involvement- Contribute to departmental and divisional special projects as needed.
What You'll Bring:- Bachelor's degree in Finance, Real Estate, or a related field.
- Demonstrated experience in commercial real estate financing, with a solid understanding of the loan closing process, acquisitions, dispositions, relevant legal considerations, and the business analysis supporting each transaction.
- Strong organizational, written, and verbal communication skills.
- Highly self-motivated with the ability to prioritize and manage multiple assignments effectively in a fast-paced environment.
- Proficient in Microsoft Office Suite (Word, Excel, Outlook, PowerPoint).
- Commercial Real Estate Paralegal experience strongly preferred.
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Pay TransparencySalary Range: $75,000-$106,500
Overtime eligible: Exempt
Discretionary bonus eligible: Yes
Sales bonus eligible: No
Actual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.
Our BenefitsWe provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.Click hereto discover more about our comprehensive benefit options or visit our NYL Benefits Site.
Job Requisition ID: 94206
