Assistant Vice President, Real Estate Transaction Services
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Overview
Job Description
POSITION OVERVIEW:
NYCEDC's Real Estate Transaction Services Group (RETS): 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.
Your Role: Assistant Vice Presidents (AVP) are responsible for shaping strategy for real estate transactions, both by leading junior staff and managing up to senior staff. AVPs guide project management, financial analysis, and the creation and negotiation of legal agreements for real estate transactions for multiple projects at different phases, from evaluating site feasibility and RFP drafting to developer selection and project closing.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Apply advanced knowledge of real estate concepts-including deal structuring and real estate finance-to support project strategy and decision-making
- Manage aspects of the competitive developer-selection processes, including drafting RFPs, reviewing proposals, and negotiating term sheets
- Build, interpret, and review complex financial models in Excel, including discounted cash flows, residual land value analyses
- Collaborate with legal teams to interpret, assess, draft, and negotiate transaction-related legal documents (e.g., MOUs, ground leases, purchase and sale agreements), with a strong understanding of how financial and business terms are integrated
- Incorporate feedback from senior team members to enhance the quality and accuracy of technical deliverables
- Anticipate next steps in transactions and proactively propose strategies to move deals forward
- Lead internal discussions and meetings, effectively communicating to cross-department and external teams
QUALIFICATIONS:
- Bachelor's degree required; Graduate degree in real estate development, public policy, urban planning, business, finance or law preferred.
- 5+ years of experience in relevant field (finance, real estate development, urban planning, public policy, related City or State agency); of which, 3+ years in real estate development preferred
- Proven track record of advancing projects in challenging environments with the ability to provide leadership to teams effectively
- Familiarity with real estate transaction documents, such as ground leases and contracts of sale
- Proven strength in financial modeling and fluency in Excel, including building discounted cash flows and other deal-analysis models
- Proven experience in real estate market research, including using market databases such as CoStar or Compstak
- Knowledge and understanding of NYC government and real estate processes and land use approvals
- Proven ability to lead junior staff to deliver high-quality results while fostering their professional growth through coaching and mentorship
- Proven skills in project management, interpersonal dynamics, and written/oral communication
- Ability to prioritize competing needs and opportunities
- Possess a strong sense of professional judgment and ability to solve problems creatively
- New York City residence is required within 180 days
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