Associate, Leasing and Portfolio Management
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: Reporting to the AVP, Asset Management - Leasing & Portfolio Management, the Leasing and Portfolio Management Associate will be part of a Sunset Park district team working on implementing a vision and strategy for the equitable development and ongoing activation and oversight of the Sunset Park industrial waterfront through planning, leasing, placemaking, and comprehensive management of three industrial properties owned by the City of New York: the Brooklyn Army Terminal, Bush Terminal, and the Brooklyn Wholesale Meat Market (BWMM).
Under the direction of the AVP of Leasing and Portfolio Management, the Associate will contribute to executing leasing strategies across assets, helping to create a diverse tenant mix that enhances the overall portfolio while delivering on policy and revenue goals, with a focus on the Brooklyn Army Terminal and the Brooklyn Wholesale Meat Market. The Associate will also support the asset-specific management plan for the BWMM, including the oversight, development, and project management of the BWMM real estate strategy, the development and implementation of a 10-year business plan at the BWMM that involves amending/renewing all 20+ leases at the facility; underwriting and optimizing the overall operating model of the BWMM, and sourcing funds to support resiliency and a sustainability model for the campus.
Essential Duties & Responsibilities:
Leasing:
- Under direction of AVP and in collaboration with the Legal department, negotiate lease agreements and renewals for the Sunset Park portfolio consistent with budget targets, market rents and Portfolio Management’s mission-driven asset management mandate.
- Participate in the budgeting process and financial reporting as required.
- Review and maintain rent roll for properties and plan for lease expirations, ensuring the team complies with all applicable public laws.
- Conduct market research to inform tenanting plans, including competitive analysis and consumer research. Track and report on relevant business statistics, expansion plans, and industry trends. Collaborate with the Business Development team.
- Manage lease transactions from proposal preparation through lease execution, including steering leases through the execution process.
- Collect all supporting documentation from prospective tenants and oversee the documentation process, including agreements, term sheets, letters of intent, and more. Work closely with the Lease Administration team.
- Identify and liase with prospective tenants and third-party brokers. Conduct property tours. Maintain an active prospect list and contribute to portfolio-wide business development efforts.
- Support integrated marketing efforts across properties to source new businesses for available space.
Portfolio Management:
- Assist with the implementation of industrial campus planning, asset management, and placemaking strategies to ensure diverse tenant mix, as well as vibrancy, growth, innovation and opportunity in Sunset Park.
- Assist with the management of the annual asset management calendar, including tenant communications and monthly portfolio meetings
- Reconcile property budgets, manage tenant arrears and collections, investigate insurance issues, advise on any ongoing litigation and other regular asset management tasks.
- Assist with the coordination with Property Operations, Design and Construction, and Capital teams to ensure that tenant and asset needs and project deliverables are met in a timely manner.
- Identify and collaborate on opportunities for redevelopment within the Sunset Park portfolio, planning for RFPs and/or capital projects to modernize, expand, or reposition assets.
- Execute negotiations and contracting on a variety of agreement types including Operating Agreements, Leases, Permits and other contracts.
- Other duties as assigned.
Qualifications:
- Bachelor’s degree in business administration, finance, real estate and other related fields (preferred not required)
- 2+ years of experience in commercial real estate, high performing sales, real estate development, asset management, economic development and/or related field and a base understanding of building technical terms
- An independent and strategic thinker with ability to structure and “sell” a plan
- Ability to communicate and work across departments and divisions to ensure a safe, efficient, tenant-focused asset and manage successful special projects and upgrades.
- Demonstrated enthusiasm, and creative and detail-oriented project management skill set
- Demonstrated written and verbal communication skills. Proven analytic skills
- Experience with negotiation document drafting
- Experience working with property managers and interfacing with tenants
- NYC residency is required within 180 days of hire
Preferred Qualifications:
- Experience in industrial campus planning, industrial policy, construction and property management, and/or manufacturing and distribution sectors
- Experience coordinating daily operations and capital planning/projects related to assets
- Market research and/or appraisal experience
- Experience with MRI software
Salary Range
$80,000 - $82,000 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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