NYCEDC’s Asset Management Division manages real estate properties 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 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 Portfolio Manager, with a Portfolio Surveillance group that monitors and enforces standards and practices across the division. 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 (Transportation assets including Ferry, Cruise, Freight/Rail, and Aviation, Retail and Market assets, Cultural, Industrial and Commercial assets). 

The Hunts Point Portfolio is a key component of NYCEDC’s broader mission to enhance the economic vibrancy and sustainability of New York City. The portfolio includes the Hunts Point Food Distribution Center, the largest food distribution center of its kind in the world, and the Hunts Point Market, serving millions of New Yorkers with fresh produce, meat, and seafood. The portfolio also encompasses strategic land-use initiatives, workforce programs, and innovative sustainability efforts aimed at creating jobs, promoting environmental justice, and supporting economic growth in the South Bronx.

Position Overview: Reporting to the Vice President, Hunts Point, the AVP is responsible for supporting the growth and management of a portfolio of real estate assets consisting of industrial and distribution facilities within the Hunts Point Food Distribution Center campus in the South Bronx. The AVP will focus on creating the physical assets and supporting initiatives in New York City that fulfills NYCEDC’s double-bottom line strategy of producing both economic and social returns. 

Essential Duties and Responsibilities:

• Support negotiation and contracting across a range of agreements, including operating agreements, leases, permits, and other contractual matters, in partnership with EDC Legal team, the Law Department, and outside counsel where appropriate. 
• Identify and execute redevelopment opportunities within the portfolio, including planning RFPs and capital projects to modernize, expand, or reposition assets; develop financial underwriting for proposed investments and oversee team members in building financial models.  
• Partner with the Business Operations team to prepare annual revenue/expense budgets. Verify forecasted revenues and utility reimbursement calculations for the portfolio.  
• Serve as a key external representative at required engagements.  
• Manage day-to-day asset management functions, including tenant communications, 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.  
• Participate in special projects with city agencies and City Hall.  
• Prepare contracts, requests for proposals (RFPs), reports, and key correspondence.  
• Other duties as assigned. 

Qualifications:

• Bachelor’s Degree and at least 5 years of experience in real estate development, asset management, urban planning, private equity, management consulting, economic development and/or related field 
• Master’s degree in a related field preferred  
• Experience with property management, lease administration, negotiations, and tenant relations 
• Strategic and independent thinker with the ability to structure and present a compelling plan 
• Effective project management and financial analysis skills, with a detail-oriented approach  
• Demonstrated written, verbal, and analytical communication skills, with an emphasis on strategic and persuasive communication 
• Proficient in Microsoft Office 
• New York City residence is required within 180 days of hire