Director, Real Estate Asset Management

Job Description

*Applicants MUST submit a cover letter with resume to be considered.

*This position will require in-office presence. Hybrid work schedules may be possible based on specific job duties and consistent with ESD policy.

BASIC FUNCTION:

Reporting directly to the Vice President of Real Estate Asset Management, the Director, Real Estate Asset Management will lead the oversight of a diverse and extensive state-owned property portfolio throughout New York State. These properties include diverse assets such as the Moynihan Train Station, the new Highline expansion project, the UBS Arena, NYS’ Vital Brooklyn Initiative affordable housing projects and many others. The Director will be an integral part of a small dynamic team, utilizing their creativity and strategic thinking in a supportive environment.

WORK PERFORMED:

Lead post construction activities and special assignments to ensure the health and viability of over 100 ESD -projects ranging from sports facilities, office towers, affordable housing and open space amenities. Use the asset management portfolio to further ESD’s goals of creating economic opportunity throughout New York State.

Strategize with the Real Estate and legal teams to create best practices that inform future projects in the Real Estate portfolio.

Create action item calendar and implement actions such as lease renewals and extensions in advance of deadlines.

Negotiate lease renewal options with lessors and draft or modify agreements.

Lead financial oversight of the property portfolio to ensure compliance with financial agreements including the tracking of rent, PILOT payments and compliance monitoring within ESD’s commercial and residential portfolio.

Manage the review of legal documents, development deals, board materials, appraisals, and other commercial and housing related functions.

Enroll new projects into ESD’s real estate database, monitor existing entries for compliance and update as needed

MINIMUM REQUIREMENTS:

Education Level required: BA/BS

Relevant experience required: 5+ years’ experience in RE asset management, development, or real estate finance. Or equivalent educational experience.

Knowledge required: Basic understanding of how real estate development deals operate. Must have excellent written and oral communications skills. Creative thinking, detail oriented is a plus. Expertise with Microsoft Office Suite required.