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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 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 housing development throughout New York City.
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 discussions and meetings, effectively communicating to other departments, external teams and stakeholders, and EDC Leadership
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)
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