Job Summary
Position Overview:
The Lease Administrator will maintain and update our lease tracking database and will prepare lease abstracts for review by senior management. You will be responsible for reviewing leased and owned property documents and entering financial and contractual obligations into the Real Estate Database, as well as compiling and maintaining critical location data, including financial and contractual obligations and status reports as part of the lease administration process.
Position Responsibilities:
• Perform Lease checks and provide comments to Outside Counsel on New Store Leases and Renewal Amendments and other Agreements.
• Submit New Store Leases and Amendments/Agreements for execution and deliver to Landlord for execution, ensuring all proper approvals have been obtained and submitted documents align with approved Proformas and approved deal terms (Letters of Intent, Etc.).
• Draft Notice of Lease (Confirmation of Lease term dates/square Footage/Rent Commencement Date) for delivery to Landlord for execution upon new store opening.
• Interpret and enter Lease information on all fully executed documents, including term, rental payments, CAM, RET and percentage rent and other critical dates into the Real Estate database.
• Maintain and update Lease Tracking database, and other reports, including Estoppel & SNDA status report as necessary.
• Assist in drafting legal documents on approved company forms, including amendments, letter agreements, estoppel certificates and Subordination Non-Disturbance Agreements.
• Review and interpret Lease provisions for the Real Estate team, Facilities and Occupancy Accounting in any Landlord/Tenant disputes.
• Update and maintain various reports related to renewal options, kick-outs, co-tenancy and allowance funds as necessary.
• Respond to Landlord default notices and other Landlord correspondence.
• Review and track Leases for Co-tenancy conditions and remedies such as rent reductions and termination rights that may be available and follow up as necessary to ensure the company avails itself of all remedies available.
• Communicate and follow-up with Landlords regarding the status of Leases, Amendments, Estoppel Certificates and Subordination Non-Disturbance Agreements.
• Provide administrative support such as distribution and filing of documents.
Position Requirements:
• Strong knowledge of Real Estate documents, including but not limited to, Leases, Purchase Contracts, REA Agreements, SNDA's, Estoppels, and Letters of Default.
• Strong organizational skills and negotiation skills relative to lease issues, renewals and subleasing.
• Strong verbal and written communication skills.
• Proficient in Microsoft Word and Excel; knowledge of lease tracking software (such as AMT) preferred.
Position Qualifications:
• At least 5 years of experience in retail, real estate, lease administration, accounting, auditing, property management and leasing. Real estate paralegal experience preferred.
• Bachelor's degree in Accounting or Law preferred
• Current Notary License a plus
This is a hybrid role requiring 2-3 days in our NYC office.
An employee in this position can expect a starting rate of between $100,000 - $115,000 annually, depending on experience, seniority, geographic locations, and other factors permitted by law.
Benefits for those who are scheduled to work less than 20 hours per week include Employee Discount, EAP and Sick Pay. For those scheduled to work between 20 and 29.99 benefits include Employee Discount, EAP, Sick Pay and Paid Time Off including paid Maternity and Parental Leave, Company Paid Holidays, Transit and 401(k) with Company Match. For those scheduled to work 30 hours or more benefits include Employee Discount, EAP, Sick Pay and Paid Time Off including paid Maternity and Parental Leave, Company Paid Holidays, 401(k) with Company Match, Comprehensive Health Benefits (Medical, Dental and Vision), Healthcare and Dependent Care Spending Accounts, Healthcare Spending Account, Disability Benefits, Life Insurance, Transit, and Tuition Reimbursement. All benefits provided are in accordance with the terms of the current plan and may be subject to future change. Benefits may vary depending on location/state regulations. More information can be received by the recruiter or Human Resources.
