1+ months

Vice President - Asset Management Revenue

NYCEDC
New York, NY 10001
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  • Job Code
    108689627


Asset Management Revenue
New York, New York

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: To create shared prosperity across New York City's five boroughs by strengthening neighborhoods and growing good jobs.

NYCEDC's Asset Management Revenue (AMR) Division manages the overall strategy for conventional and non-traditional assets across all five boroughs of New York City including commercial real estate properties as well as transportation, critical infrastructure, and energy assets. The Asset Management Revenue division pursues a double-bottom line strategy, targeting not just economic returns but also multiple social metrics including but not limited to job creation and growing equitable neighborhoods. The overall assets are divided into multiple portfolios, each managed by a VP or SVP, with a Portfolio Surveillance group that monitors and enforces standards and practices across the portfolio. The division-wide portfolio encompasses all property types including those that are standard in the real estate industry (Retail, Mixed-Use/Commercial, Industrial, etc.) with individual Portfolio Managers also managing assets particular to public sector and public/private partnerships (Transportation assets including Ferry, Cruise, Freight/Rail, and Aviation, Retail and Market assets, Cultural, Industrial and Commercial assets). In fiscal year 2018, the department actively managed over 220 properties and over 65 million square feet at a 95% occupancy rate, generating more than $240 million in revenue.

Your Role: Reporting to the Senior Vice President, the Vice President, Asset Management Revenue is responsible for managing the oversight, development, and direct management of a district of real assets generating substantial annual net income. The Vice President's responsibilities encompass relationship management, leasing, redevelopment planning, budgeting and financial optimization, as well as developing cumulative real estate strategies, asset-specific management plans, and district-wide performance measures to optimize the overall operating model and expense structure for a given portfolio of assets. The Vice President's goals are to help enable and enhance the collaborative and cohesive functioning of the AMR Division as a performance and thought leader in asset management approaches amongst double bottom line (DBL) real estate portfolios nation-wide. In particular, the Vice President will advance multiple transactions in Hunts Point, which serves as a core component of the New York City's food infrastructure, including the meat market, produce market, and fish market. This role will also supervise team members managing commercial assets such as the South Street Seaport, the amusement district in Coney Island, a variety of assets on Staten Island's North Shore, and cultural assets pertaining to the Affordable Real Estate for Artists initiative.

Responsibilities:
  • Lead your team in creating strategies and then executing upon negotiations and contracting on a variety of agreement types including Operating Agreements, Leases, Permits and other contracts (including litigation), in partnership with the EDC Legal team, City Law and outside counsel where appropriate.
  • Evaluate and then execute upon opportunities for redevelopment within the portfolio, planning for RFPs and/or capital projects to modernize, expand or reposition assets. This includes developing the financial underwriting of proposed investments and managing team members in building financial models.
  • Manage the cadence of the annual asset management calendar, including tenant communications, and monthly portfolio meetings to reconcile management budgets, review lease pipelines, plan for lease expirations, evaluate tenant financial reports, manage arrears and collections, investigate insurance issues, advise on any ongoing litigations and other regular asset management tasks.
  • Train, manage and oversee junior staff to execute on real estate finance, communications (including presentations), project management, asset management and negotiations.
  • Manage your portfolio team and work with our internal Operations and Finance groups to prepare the annual Budget Book, which looks at historical and projected revenue/expense budgets.
  • Develop and/or participate in special projects with City Hall, including direct interaction with the Deputy Mayor and City Hall staff.
  • Direct the preparation of various contracts, requests for proposals (RFPs), and reports according to company and management expectations and guidelines and consults with Senior Management as directed regarding preparation of key correspondence and investment memoranda.
  • Develop strategic Monthly Management Reports that highlight asset operating performance based upon historical operating margins and reforecast projections.
  • Other duties as assigned.

Qualifications:
  • A Bachelor's Degree and at least 5 years of experience in real estate development, asset management, private equity, management consulting, economic development and/or a related field.
  • An independent and strategic thinker with ability to structure and "sell" a plan
  • Energetic, creative, and detail-oriented project management skill set
  • Strong interpersonal written, verbal and analytic skills
  • Fluency in Microsoft Office
  • New York City residency (required within 180 days of hire)

Preferred Qualifications:
  • Master's Degree in a related field
  • Experience with Owner's Representation
  • Experience with asset/property management, lease administration and tenant relations.
  • Experience with construction and building management and maintenance software a plus
  • Experience with negotiation and document drafting
  • Experience and fluency with MRI property budgeting software (or similar products, such as Yardi)
  • Argus certification
  • Market research and/or appraisal experience
  • 2+ years of direct supervisory experience
  • New York City Real Estate experience

New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate job growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Additional information on NYCEDC can be found by visiting http://www.nycedc.com/.

Our Diversity & Inclusion Mission is to attract, retain, and engage a diverse workforce comprised of talented people. 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. NYCEDC employees can expect to work as part of a highly engaged, passionate and inclusive workforce where everyone's contributions are valued, respected and make an impact on one of the best and most diverse cities in the world!

The New York City Economic Development Corporation is an Equal Opportunity Employer. NYCEDC offers excellent benefits, including company-paid 401(a) pension plan, 457(b) tax-advantaged retirement savings plans, heavily-subsidized medical, dental and vision benefits, generous paid family leave, commitment to work-life balance, and discounted gym memberships and Broadway tickets.<br/><br/><b>Asset Management Revenue</b><br/><b>New York, New York</b><br/><br/><strong>Our Vision: </strong>To make New York City the global model for inclusive innovation and economic growth, fueled by the City's diverse people and businesses.<br><br><strong>Our Mission: </strong>To create shared prosperity across New York City's five boroughs by strengthening neighborhoods and growing good jobs.<br><br>NYCEDC's <strong>Asset Management Revenue (AMR)</strong> Division manages the overall strategy for conventional and non-traditional assets across all five boroughs of New York City including commercial real estate properties as well as transportation, critical infrastructure, and energy assets. The Asset Management Revenue division pursues a double-bottom line strategy, targeting not just economic returns but also multiple social metrics including but not limited to job creation and growing equitable neighborhoods. The overall assets are divided into multiple portfolios, each managed by a VP or SVP, with a Portfolio Surveillance group that monitors and enforces standards and practices across the portfolio. The division-wide portfolio encompasses all property types including those that are standard in the real estate industry (Retail, Mixed-Use/Commercial, Industrial, etc.) with individual Portfolio Managers also managing assets particular to public sector and public/private partnerships (Transportation assets including Ferry, Cruise, Freight/Rail, and Aviation, Retail and Market assets, Cultural, Industrial and Commercial assets). In fiscal year 2018, the department actively managed over 220 properties and over 65 million square feet at a 95% occupancy rate, generating more than $240 million in revenue.<br><br><strong>Your Role: </strong>Reporting to the Senior Vice President, the Vice President, Asset Management Revenue is responsible for managing the oversight, development, and direct management of a district of real assets generating substantial annual net income. The Vice President's responsibilities encompass relationship management, leasing, redevelopment planning, budgeting and financial optimization, as well as developing cumulative real estate strategies, asset-specific management plans, and district-wide performance measures to optimize the overall operating model and expense structure for a given portfolio of assets. The Vice President's goals are to help enable and enhance the collaborative and cohesive functioning of the AMR Division as a performance and thought leader in asset management approaches amongst double bottom line (DBL) real estate portfolios nation-wide. In particular, the Vice President will advance multiple transactions in Hunts Point, which serves as a core component of the New York City's food infrastructure, including the meat market, produce market, and fish market. This role will also supervise team members managing commercial assets such as the South Street Seaport, the amusement district in Coney Island, a variety of assets on Staten Island's North Shore, and cultural assets pertaining to the Affordable Real Estate for Artists initiative.<br><br><strong>Responsibilities:</strong><br><ul><li>Lead your team in creating strategies and then executing upon negotiations and contracting on a variety of agreement types including Operating Agreements, Leases, Permits and other contracts (including litigation), in partnership with the EDC Legal team, City Law and outside counsel where appropriate.</li><li>Evaluate and then execute upon opportunities for redevelopment within the portfolio, planning for RFPs and/or capital projects to modernize, expand or reposition assets. This includes developing the financial underwriting of proposed investments and managing team members in building financial models. </li><li>Manage the cadence of the annual asset management calendar, including tenant communications, and monthly portfolio meetings to reconcile management budgets, review lease pipelines, plan for lease expirations, evaluate tenant financial reports, manage arrears and collections, investigate insurance issues, advise on any ongoing litigations and other regular asset management tasks.</li><li>Train, manage and oversee junior staff to execute on real estate finance, communications (including presentations), project management, asset management and negotiations.</li><li>Manage your portfolio team and work with our internal Operations and Finance groups to prepare the annual Budget Book, which looks at historical and projected revenue/expense budgets.</li><li>Develop and/or participate in special projects with City Hall, including direct interaction with the Deputy Mayor and City Hall staff.</li><li>Direct the preparation of various contracts, requests for proposals (RFPs), and reports according to company and management expectations and guidelines and consults with Senior Management as directed regarding preparation of key correspondence and investment memoranda.</li><li>Develop strategic Monthly Management Reports that highlight asset operating performance based upon historical operating margins and reforecast projections.</li><li>Other duties as assigned.</li></ul><br><strong>Qualifications:</strong><br><ul><li>A Bachelor's Degree and at least 5 years of experience in real estate development, asset management, private equity, management consulting, economic development and/or a related field.</li><li>An independent and strategic thinker with ability to structure and "sell" a plan</li><li>Energetic, creative, and detail-oriented project management skill set</li><li>Strong interpersonal written, verbal and analytic skills</li><li>Fluency in Microsoft Office</li><li>New York City residency (required within 180 days of hire)</li></ul><br><strong>Preferred Qualifications:</strong><br><ul><li>Master's Degree in a related field</li><li>Experience with Owner's Representation</li><li>Experience with asset/property management, lease administration and tenant relations.</li><li>Experience with construction and building management and maintenance software a plus</li><li>Experience with negotiation and document drafting</li><li>Experience and fluency with MRI property budgeting software (or similar products, such as Yardi)</li><li>Argus certification</li><li>Market research and/or appraisal experience</li><li>2+ years of direct supervisory experience</li><li>New York City Real Estate experience</li></ul><br><strong>New York City Economic Development Corporation</strong> is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate job growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Additional information on NYCEDC can be found by visiting <a href="http://www.nycedc.com/"><strong>http://www.nycedc.com/</strong></a>.<br><br>Our <strong>Diversity & Inclusion</strong> Mission is to attract, retain, and engage a diverse workforce comprised of talented people. 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. NYCEDC employees can expect to work as part of a highly engaged, passionate and inclusive workforce where everyone's contributions are valued, respected and make an impact on one of the best and most diverse cities in the world!<br><br><strong>The New York City Economic Development Corporation is an Equal Opportunity Employer. </strong>NYCEDC offers excellent benefits, including company-paid 401(a) pension plan, 457(b) tax-advantaged retirement savings plans, heavily-subsidized medical, dental and vision benefits, generous paid family leave, commitment to work-life balance, and discounted gym memberships and Broadway tickets. <img src="https://analytics.click2apply.net/v/MalYwMCPRVOxCoMyuQWBA">
Posted: 2019-03-22 Expires: 2019-05-23

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Vice President - Asset Management Revenue

NYCEDC
New York, NY 10001

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