The Real Estate department is looking for a Manager, Development to join their team. This person will have the opportunity to contirbute to a compelling and strategic redevelopment vision across our portfolio of facilities. We have two openings for this position.
- Negotiate the disposition of properties to private developers and sophisticated counterparties effectively.
- Manage real estate projects through closing.
- Propose creative solutions to senior management, and socialize such solutions with internal partners, to advance transactions quickly through gating issues or problems.
- Independently conduct zoning analysis to determine the development feasibility of Port Authority owned sites.
- Independently diligence and analyze complex project financing structures in order to determine project financial feasibility, including assessing proposed developer debt and equity sources/terms and possibly public financing and funding sources.
- Independently conduct financial analysis, to determine PANYNJ land value, including diligencing the impact of required PANYNJ infrastructure on land value.
- Manage and maintain an aggressive schedule for advancing transactions through negotiations to a closing.
- Partner with internal PANYNJ departments such as the Office of Planning and Regional Development, Office of Financial Planning, the Law Department, intergovernmental agencies, municipalities, and other stakeholders to effectuate transactions, including advancing rezoning initiatives that will maximize the value of PANYNJ real estate assets.
- Motivate and manage a team of staff, across varying skill levels, to execute on approved disposition and development strategies.
- Mentor junior staff members in their professional development.
Candidates must present the following qualifications to be considered eligible for this position:
- Bachelor’s Degree from an accredited college or university in Business Administration, Finance, Real Estate, Urban Planning, Public Policy or other related field. Graduate degree is preferred.
- Minimum of 5 years of transactional real estate experience, including demonstrated proficiency in commercial real estate, real estate development, real estate disposition, financial analysis and knowledge of contract terms, and land use approvals
Ideal candidates will present the following profile:
- A proven track record in negotiating transactions of real estate development sites and existing real estate assets.
- Demonstrated experience successfully directing real estate initiatives in a large organization with respect to budgeting, financial controls, building consensus at all levels.
- Demonstrated knowledge and experience with various commercial real estate uses, including land, office, retail, industrial, and have knowledge and experience in valuation of these properties.
- Demonstrated experience working with private developers and municipal/state/federal economic development and planning agencies.
- Strong interpersonal skills with demonstrated ability to interact effectively with internal and external stakeholders.
- Strong critical thinking, decision-making and problem solving skills.
- Exceptional communication and presentation skills.
Compensation & Benefits
The Port Authority of New York and New Jersey offers a competitive salary, an outstanding benefits package and a professional environment that supports development and recognizes achievement.
How To Apply
Interested candidates should apply to this job by clicking on the Apply Now button and submitting a combined cover letter and resume.
Only applicants under consideration will be contacted.
About The Port Authority
Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency's network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere.
EQUAL OPPORTUNITY EMPLOYER
The Port Authority of New York & New Jersey/Port Authority Trans-Hudson (PATH) is an Equal Opportunity Employer.