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: Creating a vibrant, inclusive, and globally competitive economy for all New Yorkers.
POSITION OVERVIEW:
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 promotes economic development and neighborhood revitalization by leveraging City-owned real estate and partnerships with the private sector.
RETS is the City’s primary department for underwriting, structuring, and executing real estate and economic development transactions on city-owned land, with the goal of transforming underutilized properties into projects that support job creation, industry-based economic development goals, and affordable community development throughout New York City.
The Vice President in Real Estate Transaction Services will supervise a team of real estate finance and development professionals on projects central to NYC’s economic development goals. The VP will lead projects from inception to closing by directing the financial analysis on a project’s feasibility, managing negotiations on land sales and leases with developers, overseeing project management and progress, establishing and maintaining client contact and conducting community outreach. The ideal candidate will have real estate industry experience and will have managed NYC-area development projects. Additionally, the candidate should possess a strong understanding of how to progress projects in a challenging environment and understand public policy objectives and regulatory processes.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Supervise and provide direction on all aspects of real estate project management and land sale/lease negotiations
- Direct financial structuring analyses (NPV, IRR, COC, etc.) to isolate key drivers of investment return
- Conduct transaction negotiations to maximize return to the City and EDC
- Establish & achieve short and long-term project goals and timeframes
- Develop systems for accountability and monitoring for projects and staff
- Initiate, supervise and review all relevant project documents
- Present projects to executive staff, boards and City officials
- Identify new projects and/or development opportunities for EDC
- Offer expertise on initiatives and issues relevant to the Real Estate Transaction Services department
- Build and maintain relationships with governmental and quasi-governmental agencies, real estate developers and business groups, consultants, civic and community stakeholders, and cultural and professional organizations
- Demonstrate managerial experience/ability with specific focus on ability to lead and motivate teams to set and meet goals, expectations and deadlines with limited oversight
- Display proven understanding of real estate development practices, preferably specific to NYC, and economic development and planning policy
- Mentor and cultivate junior staff knowledge and skills development
- Possess a strong sense of professional judgment and ability to solve problems creatively
- Exhibit leadership abilities, including interpersonal, communication and public speaking skills and a strong sense of personal accountability to ensure project
QUALIFICATIONS
- Bachelor’s Degree or equivalent in business, real estate, public policy, urban planning, finance or law
- 7-10 years of experience in relevant field (finance, real estate, development, public policy, urban planning, City or State agency); Master’s Degree preferred
- Proven strength in use of spreadsheet, database, and presentation applications including Excel and PowerPoint
- Proven experience in real estate market research, including using market databases such as CoStar and Real Capital Analytics and programs
- Familiarity with real estate transaction documents, such as leases and contracts of sale
- Proven project management and interpersonal skills
- Demonstrated written and oral communication skills, including public speaking
- Ability to prioritize competing needs and opportunities
- Understanding of economic development issues
- Familiarity with NYC government and NYC government real estate processes
- 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 a project team on complex transactions
- Possess a strong sense of professional judgment and ability to solve problems creatively
Salary Range
$135,000 - $140,000 USD
About Us: New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors, with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city’s future economy.
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.
The New York City Economic Development Corporation is an Equal Opportunity Employer. Our Diversity, Equity, and Social Responsibility Mission is to create a People First strategy by attracting, retaining, and engaging a diverse and talented workforce. Like the city of New York, NYCEDC knows our strength comes from each of our connected parts, making the fabric of our organization better and stronger because of our unique employees' talents.
For more information, visit our website at edc.nyc.
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