Senior Associate

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: NYCEDC’s Portfolio Management Division manages real estate properties and non-traditional assets across all five boroughs of New York City including commercial and industrial real estate properties as well as transportation, critical infrastructure, and energy assets. The Portfolio Management division pursues a triple- bottom line strategy, targeting economic returns and multiple social metrics including job creation, and growing equitable neighborhoods; as well as ensuring a thoughtful approach to incorporating sustainable and resilient measures. The overall assets are divided into multiple portfolios, with a Lease Administration group that monitors and enforces standards and practices across the division. The division-wide portfolio encompasses all property types including those that are standard in the real estate industry (Retail, Mixed-Use/Commercial, Industrial, etc.) as well as the public sector and public/private (Transportation assets including Cruise, Freight/Rail, and Aviation, Retail and Market assets, Cultural assets). 

Reporting to the Vice President, Portfolio Management, the Senior Associate is responsible for supporting the oversight, development, and direct management of real assets located within the Borough of Manhattan, including assets within South St. Seaport, Harlem, Union Square and various others.  The Senior Associate will also provide administrative support to the portfolio. 

Essential Duties & Responsibilities:

• Negotiate, draft and execute on a variety of agreement types, including Operating Agreements, Leases, Amendments, Permits, Renewals and other contracts, in partnership with the EDC Legal team, City Law and outside counsel where appropriate 
• Identify opportunities for redevelopment within the portfolio, including leasing opportunities and capital projects to modernize, expand or reposition assets 
• Manage RFP process, in coordination with the Legal and Contracts departments, from inception to completion, such as writing proposals, conducting site visits, selecting respondents, and executing written legal documents 
• Lead project status update meetings as well as prepare thorough presentation materials for engagement with internal and external parties
• Work collaboratively with various internal departments, such as Real Estate Transaction Services, Government and Community Relations, Neighborhood Strategies, Land Use and Legal to develop multi-disciplinary plans on asset and portfolio-wide levels.  Update and present evolving project developments to senior executives
• Manage tenant, third party contractor and various City agency relationships, analyze issues, negotiate terms and document outcomes appropriately
• Manage tenant leasing opportunities, such as vetting financial performance, evaluating proposals and terms, and negotiating and executing leases
• Collaborate with the Design and Construction Team to manage the progress of construction projects, monitor completion schedules, ensure payment of bonds and subcontractor payments, and resolve building violations and liens, among other duties  
• Collaborate with Property Operations Team to manage building repairs, maintenance and security matters and budget issues, from time to time as property-level concerns arise    
• Work with Business Operations team to prepare annual revenue/expense budgets. Verify forecasted revenues for specific portfolio and utility reimbursement calculations
• Review and reconcile tenant statements, including financial performance, parking operations, percentage and other types of rent. Identify potential risks to assets or income within portfolio
• Work with Lease Administration team to ensure maintenance and update of lease files within the portfolio, reconcile management budgets, plan for lease expirations, evaluate tenant financial reports, manage arrears and collections, investigate insurance issues, advise on any ongoing litigations and other ad hoc issues.  Liaise with accounting division to ensure proper billing in accordance with lease terms
• Develop and/or participate in special projects with City Hall, including interaction with the Deputy Mayor and City Hall staff
• Assist in the continuous development of standard process and operating procedures for the management of portfolio
• Ensure strategic goals are being met at the project and tactical levels
• Other duties as assigned 

Requirements:

• Bachelor’s Degree and 3-4 years of experience in c