Assistant Vice President, Real Estate Transaction Services

Our Vision: To make New York City the global model for inclusive innovation and economic growth, fueled by the City’s diverse people and businesses

Our Mission: To create shared prosperity across New York City’s five boroughs by strengthening neighborhoods and growing good jobs.

NYCEDC’s Real Estate Transaction Services Group (RETS):  RETS is the City’s primary department for financial analysis, structuring, and the execution of real estate and economic development transactions. RETS promotes economic development and neighborhood revitalization by leveraging City-owned real estate and partnerships with the private sector.

Your Role: As an Assistant Vice President (AVP), you will work on projects crucial to implementing New York City’s economic development goals. Reporting to the RETS Senior Vice President for Post-Closing Transactions the AVP will work on a range of projects, including rent re-sets and purchase option exercises under existing ground leases, land sales, leases, or feasibility analysis and may be responsible for overseeing team members from multiple EDC departments in addition to external consultants. The AVP will be responsible for producing financial analysis, reviewing appraisals, developing deal structures, and/or negotiating the terms of City's participation in real estate development and other projects originated in the group, other groups within NYCEDC, the Office of the Deputy Mayor for Housing & Economic Development, and other City agencies and offices.

Responsibilities:

• Administer several real estate or economic development transactions
• Draft requests for proposals and prepare site development and project feasibility analyses
• Build and review detailed financial models and review appraisals
• Analyze and present findings and recommendations to project teams and senior staff in written and verbal form and brief senior officials of NYCEDC and other City agencies on the project status
• Assist in negotiating rents, purchase prices and transaction documents
• Foster and manage relationships with real estate developers, appraisers, attorneys, urban planners, consultants, elected officials and community stakeholders
• Collaborate with colleagues in other departments in NYCEDC, such as Legal, Planning, Government & Community Relations, and Development
• Serve as a mentor to approximately 1-3 staff members.

Qualifications:

• Master’s Degree or equivalent in business, real estate, housing finance, public policy, urban planning or law
• Minimum of 5 years of experience in relevant field (Real Estate, Development, )
• Proven strength in financial modeling and fluency in Microsoft Excel, including building and reviewing bespoke discounted cash flows and other deal-analysis models. Experience with Argus would be advantageous.
• Proven experience in real estate market research, including using market databases such as CoStar and Real Capital Analytics
• Proven experience reviewing, understanding and negotiating complex real estate transaction documents, including leases and contracts of sale
• Experience of reviewing appraisals, including a good understanding of the methodologies used
• Strong project management skills and eye for detail
• Strong interpersonal skills
• Strong written and oral communication skills, including public speaking and fluency in Microsoft PowerPoint
• Ability to prioritize competing needs and opportunities
• Understanding of economic development issues
• Familiarity with NYC government, especially land use entitlement processes such as ULURP
• Ability to be a self-starter who works well in a team-based environment with limited oversight
• Demonstrated ability to both work independently and lead project teams on complex transactions
• Possess a strong sense of professional judgment and ability to solve problems creatively
• New York City residence is required within 180 days
• All new hires must be vaccinated against the COVID-19 virus as defined by the CDC, unless they have been granted a reasonable accommodation for religion or disability

About Us: NYCEDC is New York City’s primary vehicle for promoting economic growth in each of the five boroughs. Our mission is to create shared prosperity across New York City’s five boroughs by strengthening neighborhoods and growing good jobs. We do this by developing, managing, and implementing expansion and redevelopment programs that encourage investment and strengthen the city’s competitive position.

NYCEDC is dedicated to the creation of a dynamic, equitable, and sustainable urban economy. We are making sure that whatever happens next, happens right here in New York City—and that all New Yorkers are a part of it.

NYCEDC offers many unique advantages for an exciting and fulfilling career. As part of our team, you’ll enjoy:

• The unique opportunity to make an impact on New York City
• Working on diverse, unique, and challenging projects
• Working closely with teams of creative, highly motivated, and passionate people
• Learning opportunities designed to enhance the practical skills and business knowledge of our employees
• Excellent benefits, including company-paid 401(a) pension plan, 457(b) tax-advantaged retirement savings plans, medical, dental and vision benefits, generous paid family leave and paid time off, and other perks

The New York City Economic Development Corporation is an Equal Opportunity Employer. Our diversity and inclusion mission is to attract, retain, and engage a diverse workforce comprised of talented people. NYCEDC employees can expect to work as part of a highly engaged, passionate and inclusive workforce where everyone’s contributions are valued, respected and make an impact on one of the best and most diverse cities in the world!

For more information, visit our website at edc.nyc.