The Real Estate department is looking for an Associate to join their team. By executing on significant real estate transactions and projects, the Associate will directly contribute to the Port Authority of New York and New Jersey’s mission to keep the region moving.
The Associate will contribute to a broad array of real estate transactions – from advancing real estate development projects such as the World Trade Center to leasing and activating retail space at the Port Authority Bus Terminal to negotiating unique agreements related to advertising rights – all of which generate resources to advance, and create value from, the Port Authority’s critically important regional transportation projects.
Duties and Responsibilities:
- Advance real estate transactions and assist in negotiating commercial space leases at existing assets and ground leases for development sites
- Issue and manage Requests for Proposals for the disposition of real estate, as well as unique assets such as advertising rights
- Build and maintain financial models in Microsoft Excel, drawing on and appraisals and current market data, in order to value Port Authority property for disposition and determine the financial feasibility of development projects, including the use of real estate metrics such IRR and cash-on-cost.
- Diligence zoning and land use plans for development sites in order to determine the development potential of such sites
- Develop and execute strategic asset management plans for Port Authority assets, including pursuing strategies for the curated leasing of vacant space and the activation and programming of common areas, as well as recommending capital improvements to generate additional value
- Interface with and build relationships with tenants, commercial brokers, development partners, and internal partners and stakeholders
- Diligence opportunities for value creation and value capture, with a particular focus on transit-oriented development surrounding Port Authority assets
- Present transaction and project recommendations, as well as regular status updates, to Port Authority senior staff
- Present transactions and projects to partner City, State, and Federal public agencies, elected officials, and community boards
- Progress transactions through internal Port Authority approvals, including coordinating with internal partners and stakeholders, and through public approvals, as needed, to ultimately close such transactions
- Work with the SAP Real Estate Module and Yardi Real Estate Database to insure best-in-class asset management
- Other duties as assigned
Candidates must present the following qualifications to be considered eligible for this position:
- Bachelor’s degree in business, real estate, economics, finance, urban policy, or equivalent; graduate training/degree preferred
- One (1) year experience in commercial real estate, investment banking, private equity, finance, public policy, or urban planning
Ideal candidates will present the following profile:
- An understanding of the NY real estate market and trends
- Demonstrated ability to work independently and within a team to build relationships internally and externally
- Demonstrated ability to multi-task, work on multiple projects simultaneously while adhering to timeframes and deadlines for completion
- Knowledge/experience with managing projects from inception to completion.
- Experience with Microsoft Office (Word, Excel, Power Point, Project)
- Excellent financial analysis, oral, written, and interpersonal skills.
- Demonstrated experience working collectively in the implementation of goals and objectives
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.