Executive Real Estate Development Manager
1 week ago
Company Overview
The City of New York's Real Estate Development Department (REDD) is a pivotal force in reinvesting, restoring, and rebuilding publicly controlled affordable housing. Our mission is to provide quality housing for New Yorkers that is sustainable, inclusive, and safe, while fostering opportunities for economic mobility.
About the Role
As an Executive Real Estate Development Manager, you will oversee and manage the transactional aspects of our real estate development projects from initial concept to construction closing. You will collaborate closely with internal stakeholders, external partners, and various city agencies to ensure the successful execution of development initiatives.
Main Responsibilities
1. Project Management: Oversee and manage multiple transactions, ensuring alignment with project objectives and timelines. Coordinate financial closings with internal and external parties, including developers, City and State agencies, lenders, and bond underwriters. Represent NYCHA in meetings with inter-agency representatives, PACT development partners, lenders, and residents to facilitate effective communication and collaboration.
2. Underwriting: Conduct comprehensive financial analysis and modeling to assess the feasibility and viability of transactions. Identify and analyze potential funding sources to support project financing needs, including grants, tax credits, loans, and other financial instruments.
3. Due Diligence: Review and evaluate due diligence materials related to project financing, including ground leases, loan documents, appraisals, and other relevant documents. Ensure compliance with regulatory requirements and assess potential risks associated with the transaction.
4. Negotiation and Closing Documentation: Collaborate with NYCHA's legal department and outside counsel to prepare contract and closing documents, including purchase agreements, financing agreements, and other legal documents. Participate in negotiations with stakeholders to secure favorable terms and conditions for NYCHA in transactions. Ensure timely completion of closing documentation and facilitate the closing process to finalize transactions successfully.
5. Data and Policy Analyses: Conduct data analysis to inform decision-making processes related to transactions, including demographic trends, housing market analysis, and financial projections. Evaluate existing policies and regulations to identify opportunities for streamlining processes and enhancing efficiency in transactions. Provide insights and recommendations based on data analysis to support strategic planning and policy development within NYCHA's Real Estate Development Department.
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