The Director, Real Estate reporting to the Chief Development Officer directs the Port Authority’s major real estate developments and other components of its commercial real estate portfolio. This Portfolio includes World Trade Center (including One World Trade Center and other buildings on the campus), Port Authority Bus Terminal (Dyer Avenue/Midtown Properties), George Washington Bridge Bus Station, Journal Square Transportation Center and a variety of other properties and assets.
The Real Estate Department creates a vision for each of our assets and manages each as a project, the goal of which is to develop the relevant disposition and development strategy to maximize value and move the effort from conception to a deal. This includes monetize non-core real estate holdings in a manner that maximizes proceeds available to support the Agency’s transportation infrastructure; assess future real estate opportunities/investments using global best-practices to ensure consistency with the Port Authority’s core mission; repurpose, redevelop or sell underperforming non-core assets; and stimulate private investment in its facilities and host communities to promote sustainable regional economic growth, increase revenue opportunities
- Partner and work with the Office of Planning and Regional Development, Financial departments, Law Department, intergovernmental agencies, municipalities, and other pertinent stakeholders to effectuate long term development, including possible rezoning and air rights initiatives that will maximize the value of Agency’s real estate assets.
- Identify and assess the Agency’s transit-oriented facilities to determine potential value and concepts for the Agency’s future transportation oriented initiatives.
- Develop creative solutions and structure joint ventures with public private partnerships to leverage the Port Authority’s real estate assets to create revenue for planned and future capital transportation initiatives., (i.e. Bus, rail and Port terminals).
- Identify and implement revenue enhancement opportunities and cost-saving initiatives such as additional advertising locations; new or renewed retail and industrial space leasing; conducting property transactions, including the sale of air rights and easements.
- Provide consultation and recommendations to executive leadership and Board of Commissioners on real estate initiatives.
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, Property Management or other related field. Advanced degree and Planning and/or real estate certifications are desirable.
- Superior leadership abilities acquired through demonstrated record of increasingly responsible positions.
- Demonstrated experience successfully directing real estate initiatives in a large-scale organization with respect to budgeting, financial controls, building consensus and collaboration among staff at all levels and with various stakeholders.
- Significant transactional experience and demonstrated proficiency in commercial real estate, acquisition, disposition, property leasing and management, financial analysis and knowledge of leases and contract terms, and knowledge of standard building codes, environmental reviews, land use regulations, and planning.
- 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 planning and transaction execution to maximize and leverage the Port Authority’s real estate portfolio to support the Port Authority’s core mission.
- Demonstrated experience working with developers, senior leaders of municipal/state/federal economic development and a proven track record in handling complex real estate transactions.
- Strong interpersonal skills with demonstrated ability to interact effectively with internal and external stakeholders.
- Ability to lead, motivate, mentor and develop diverse staff.
- 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. The Port Authority of NY & NJ welcomes veteran and military spouse applications.
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.