Associate - Asset Management

Asset Management Revenue New York, New York

Position Overview:

NYCEDC’s Asset Management Division manages real estate properties and non-traditional assets across all five boroughs of New York City. The Asset Management Revenue division pursues a double-bottom line strategy, targeting not just economic returns but also multiple social metrics including but not limited to job creation, sustainability, thrive in place, affordability and cultural vitality. 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 (Office, Retail, Multi-Family, Industrial) with individual Portfolio Managers also managing assets particular to public sector and public/private (Maritime, Public Markets, Cultural Assets, Transportation Assets, Ferry and Cruise Portfolios).

The Associate will work to develop the New York City economy, shaping its built environment across the five boroughs through double bottom line real estate that creates jobs, social equity, affordability, anti-gentrification measures and sustainability. The Associate will do so by assisting senior staff on multiple real estate projects involving the acquisition of new assets, the repositioning of existing assets, the management of operating agreements, and the analysis of financing transactions (debt) as well as underlying credit of partners, tenants and operators. In addition, the Associate will regularly evaluate properties and portfolios for value creation opportunities (both social value and economic value), predict the actions of counter-parties (in exercising options and/or negotiations), analyze the results of appraisals, investigate lease audit results, and perform financial analyses to help the City evaluate economic development projects.


  • Administer multiple projects involving real estate assets, operating agreements and/or financing transactions.
  • Assist in negotiating leases, operating agreements and funding agreements.
  • Build and maintain detailed financial models of current real estate assets and district value capture strategies.
  • Prepare project feasibility analyses, including redevelopment and repositioning.
  • Draft requests for proposals.
  • Support Portfolio Managers in creating and maintaining the annual asset management budget.
  • Work with the Chief of Staff to review and update the ten year budget projections.
  • Develop Excel models for existing portfolio assets that track financial returns (e.g., ROI, IRR), and quantify DBL returns on an ongoing basis.
  • Analyze the results of audits and suggest best practice adjustments.
  • Assist Portfolio Surveillance as needed with financial statement analysis, lease administration.
  • Abstract new leases as required; review and update existing abstracts as necessary on a rolling basis.
  • Analyze and present findings and recommendations to project teams and senior staff in written and verbal form and brief senior officials of NYCEDC and other City agencies on the project status.
  • Conduct presentations to elected officials, community stakeholders, NYCEDC Board of Directors.
  • Understanding NYC government and stays up-to-date on economic development issues.
  • Other duties as assigned.


  • Bachelor’s Degree in business, economics, real estate, finance or equivalent. Graduate Degree preferred.
  • 2-4 years of experience in real estate development, asset management, private equity, management consulting, investment banking and/or economic development required.
  • Experience with project management duties including project implementation from conception to completion.
  • Fluency in the use of spreadsheets, database and presentation applications, including Excel and PowerPoint.
  • Strong interpersonal, written, verbal and analytical skills.
  • New York City residence is required within 180 days of hire.

About Asset Management:

The Asset Management division is responsible for the management of NYCEDC's real estate portfolio. The department is responsible for maximizing the performance and value of the company’s portfolio of real estate assets, developing and implementing strategies that provide improve cash flow, strengthen interim and long-term value while supporting the Mayor’s goals of increasing the number, quality, and diversity of jobs available across the five boroughs.

NYCEDC's real estate portfolio is comprised of assets that generate over $100 million in revenue per year, which include over 150 properties totaling over 60 million square feet. These properties are located across all five boroughs and include waterfront, industrial, retail and wholesale markets as well as commercial uses.


New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate job growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Additional information on NYCEDC can be found by visiting

Our Diversity & Inclusion Mission is to attract, retain, and engage a diverse workforce comprised of talented people. Like the city of New York, NYCEDC knows our strength comes from each of our connected parts, making the fabric of our organization better and stronger because of our unique employees’ talents. NYCEDC employees can expect to work as part of a highly engaged, passionate and inclusive workforce where everyone’s contributions are valued, respected and make an impact on one of the best and most diverse cities in the world!

The New York City Economic Development Corporation is an Equal Opportunity Employer. NYCEDC offers excellent benefits, including company-paid 401 (a) pension plan, 457(b) tax-advantaged retirement savings plans, medical, dental and vision benefits, and discounted gym memberships and movie tickets.