Senior Associate, Development
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.
Sectional Responsibility:
NYCEDC’s Development Group resides within the Asset Management division (AM). AM serves the EDC portfolio as a platform comprising expertise in asset management, development, construction and planning to align city-scale socio-economic development, climate action, and strong financial returns with mission driven policy goals across City-owned real estate and partnerships with the private sector.
AM Development serves as the asset manager for complex projects at every stage of development and redevelopment from master planning through underwriting and executing transactions on City-owned land, with the goal of transforming underutilized properties into projects that support job creation, industry-focused economic development goals, housing production and affordable community development throughout New York City.
Position Overview:
The Senior Associate contributes to management and oversight of strategic development opportunities aiming to dramatically reposition and transform assets within the AM portfolio. Reporting to the Vice President of Development, the Senior Associate will work with a team of real estate professionals on projects crucial to implementing NYCEDC’s development goals. The Senior Associate will perform financial analysis, conduct regular project reporting, and assist with the management of multiple real estate development projects under the supervision of senior staff.
Responsibilities:
- Apply fundamental development management principles through all aspects of large-scale project planning and execution
- Build and maintain detailed development pro formas for major prospective New York City development and redevelopment projects, isolating key drivers of investment returns, and economic impact
- Assist in evaluating the economics of potential development scenarios and communicating preferred strategies to project stakeholders
- Collaborate with colleagues in other departments in NYCEDC, such as Legal, Planning, Construction, Government & Community Relations
- Draft requests for proposals for design consultants and development partners
- Track and report project performance against short and long-term goals
- Assist annual capital budgeting process and regular project updates
- Contribute to project research and due diligence in collaboration with internal resources and external consultants
- Manage ongoing communications and collaboration with external project consultants
- Assist in preparation and presentation of projects to senior leadership
- Build and maintain a local professional network spanning public and private sector stakeholders in NYC real estate development, planning and policy agencies
- Other duties as assigned
Qualifications:
- Bachelor’s degree in business, real estate development, public policy, urban planning, finance or law required
- At least 3 years of experience in a relevant field (finance, real estate development, urban planning, public policy, related City or State agency)
- Demonstrated analytical skills, including Excel proficiency with budgets, financial statements and project economics
- Familiarity with real estate market research, including databases such as CoStar and Real Capital Analytics
- Experience with real estate project management duties from conception to completion
- Ability and willingness to create and deliver presentations; proficient in Microsoft PowerPoint
- Demonstrated written and verbal communication skills; ability to communicate effectively and independently across all levels of the organization
- Ability to manage and prioritize competing needs and evolving goals
- Demonstrate a strong understanding of real estate development practices, preferably specific to NYC, and an interest in economic development and planning
- New York City residence required within 180 days of hire
Preferred Qualifications:
- 4+ years of experience in a related field
- Advanced Degree in a related field such as business, real estate development, public policy, urban planning, finance or law
- Demonstrated financial modeling skills
- New York City real estate experience, and understanding of NYC agency real estate development processes
Salary Range
$84,000 - $86,000 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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