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VP of Asset Management Revenue

Company: Nonprofit, New York, NY
Location: New York
Posted on: March 13, 2018

Job Description:

Organization’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, sustainability, thrive in place, affordability and cultural vitality. The overall assets are divided into multiple portfolios, each managed by a Portfolio Manager/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 2017, the department actively managed over 62M square feet at a 94.6% occupancy rate, generating $191M+ 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 $10M-$20M in net income per year. 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 may also supervise team members managing commercial assets such as the South Street Seaport and cultural assets involved in 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 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 MRI Fluency and Experience Market research and/or appraisal experience 2+ years of direct supervisory experience New York City Real Estate experience

Keywords: Nonprofit, New York, NY, New York, VP of Asset Management Revenue, Executive, New York, New York

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