The Real Estate department is looking for a Senior Associate to join their team. By contributing to the effective asset management of the Port Authority’s World Trade Center (WTC) real estate holdings, the Senior Associate will directly contribute to the Port Authority of New York and New Jersey’s mission to keep the region moving.
Duties and Responsibilities:
- Provide Asset Management support of Port Authority’s real estate interest at the World Trade Center including the Port Authority’s ownership of One World Trade Center (1WTC), one of the premier office buildings in the world.
- 1WTC asset management consist of oversight of overall financial performance including leasing performance, capital and operating expense budgeting, leasing oversight, capital spending oversight.
- This role will directly interface with the Port Authority’s 1WTC partner and property manager, the Durst Organization.
- Additional asset management includes oversight of net leases in the remaining WTC office buildings (3, 4 and 7 WTC) to Silverstein Properties and the net lease of the WTC retail portfolio to Unibail-Rodamco-Westfield.
In addition, advance other complex real estate transactions related to the WTC and assist in negotiating those transactions This will include:
- Building and maintaining financial models in Microsoft Excel, drawing on and appraisals and current market data, in order to value such transactions, including the use of standard real estate metrics such IRR
- Presenting transaction recommendations, as well as regular status updates, to Port Authority senior staff
- Progressing transactions through internal Port Authority approvals, including coordinating with internal partners and stakeholders, and through public approvals, as needed, to ultimately close such transactions
- Interface with and build relationships with existing tenants, commercial brokers, development partners, internal departmental partners, and WTC stakeholders.
- 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
- An understanding of the NY real estate market and trends
- Four (4) years’ experience in commercial real estate, investment banking, private equity, finance, public policy, or urban planning
Ideal candidates will present the following profile:
- 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)
- 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.