Executive Vice President, Asset Management
Our Vision: To make New York City the global model for inclusive innovation and economic growth, fueled by the City’s diverse people and businesses.
Our Mission: To create shared prosperity across New York City’s five boroughs by strengthening neighborhoods and growing good jobs.
Position Overview: The Executive Vice President (EVP) for Asset Management leads NYCEDC’s Asset Management Division comprised of conventional and non-traditional assets totaling 60+ million square feet, across 230+ properties, and spanning all five boroughs of New York City. These unique assets encompass commercial real estate (office, retail, industrial), port/waterfront assets (NY Cruise, rail, maritime and aviation), energy infrastructure (offshore wind), as well as assets particular to the public sector (public retail and wholesale markets, Broadway and non-profit theaters, and affordable industrial campuses). The Division pursues a double-bottom-line strategy, targeting economic returns and social metrics including job creation and growing equitable neighborhoods.
The EVP – Asset Management will provide leadership and strategic oversight of portfolio-wide strategies for property re-development, re-investment, and operations. The role is responsible for management of property-level and portfolio-level annual revenue and expenses budgets, financial reports, capital investment and cash flow projections. In doing so, the EVP will work collaboratively with direct reports across Business Operations, Design & Construction, Property Operations and Energy Management to drive strategy, performance, and deliverables across the portfolio. The EVP will establish policy guidance for the division’s business practices, enable, and support the creation of an energy master plan, and implement new systems and technologies to ensure operational excellence across the portfolio. Ideal candidates will have strong leadership skills, excellent interpersonal skills, including management and coaching of senior direct reports.
Essential Duties & Responsibilities:
Management & Reporting
- Work directly with the Chief Operating Officer to manage, reposition and redevelop EDC's extensive portfolio of assets to maximize and align overall profit and loss with environmental objectives, social metrics, and economic development goals.
- Effectively communicate the COO, CFO and President’s Office on portfolio performance, asset plans, leasing activity, budget variances.
- Solve problems and respond to urgent issues by mobilizing and directing appropriate resources.
- Maintain oversight of daily asset operations including facilities management, tenant management, leasing, and capital implementation. Manage portfolio risk and liability.
Redevelopment and Investment
- Provide strategic oversight for the redevelopment and reinvestment of NYCEDC assets to improve and increase portfolio NOI. Possess strong knowledge of the property industry, market conditions and trends.
- Responsible for the creation of great places and strong communities. This includes physical aspects of property and public realm, as well as long term operations that support community programs, events and activation of spaces.
- Support creation and implementation of an Energy Master Plan to enable transition of assets to clean energy, and identification of decarbonization and resiliency strategies across the portfolio that will generate ROI and meet environmental goals.
Customer, Government & Community
- Ensure customer satisfaction. Assess and align tenants and customers (current and prospective) with overall organization mission and values; ensure financial strength of leasing portfolio and management of vacancies (including potential eviction, rent relief situations)
- Establish and maintain positive relationships with tenants, elected officials, and community stakeholders via on-going and proactive communication, and in coordination with NYCEDC President’s Office and Senior Staff.
- Skilled negotiator with a focus toward building long term relationships. Champion business and industry cultivation strategies to enable effective leasing, marketing, and tenant attraction within the portfolio.
- Demonstrated experience coaching, and managing staff, conflict resolution and providing staff opportunities for professional growth and advancement
- Empower others by driving responsibility, accountability, and decisions through the organization.
- Proactively establish and maintain industry contacts and relationships with peers, competitors, and vendors.
- Collaborate with leadership from other departments to solve problems and achieve goals on inter-company projects
- Master’s Degree in real estate or related field preferred
- 12+ years of experience in leading a multi-functional asset management group
- Prior experience working in the public sector, with NYC government experience preferred
- Agile and results focused creative thinker who possesses both economic and political acumen
- Proven competencies in leadership and managing work priorities in a demanding, fast-paced environment
- Ability to translate a strategic vision into overall work/project plans with discrete action steps and accountabilities
- Strong collaboration and negotiation skills with an ability to create partnerships internally and externally; demonstrated expertise in stakeholder engagement
- Strong written and verbal communication skills with the ability to present publicly to NYCEDC and City leadership
- Experience building or actively working to grow/implement a place-based brand strategy and identity strongly preferred
- Strong knowledge of budgeting, real estate finance, municipal budgeting, business development, and strategic planning
- New York City residence is required within 180 days of hire
About Us: NYCEDC is New York City’s primary vehicle for promoting economic growth in each of the five boroughs. Our mission is to create shared prosperity across New York City’s five boroughs by strengthening neighborhoods and growing good jobs. We do this by developing, managing, and implementing expansion and redevelopment programs that encourage investment and strengthen the city’s competitive position.
NYCEDC is dedicated to the creation of a dynamic, equitable, and sustainable urban economy. We are making sure that whatever happens next, happens right here in New York City—and that all New Yorkers are a part of it.
NYCEDC offers many unique advantages for an exciting and fulfilling career. As part of our team, you’ll enjoy:
- The unique opportunity to make an impact on New York City
- Working on diverse, unique, and challenging projects
- Working closely with teams of creative, highly motivated, and passionate people
- Learning opportunities designed to enhance the practical skills and business knowledge of our employees
- Excellent benefits, including company-paid 401(a) pension plan, 457(b) tax-advantaged retirement savings plans, medical, dental and vision benefits, generous paid family leave and paid time off, and other perks
The New York City Economic Development Corporation is an Equal Opportunity Employer. Our Diversity, Equity, and Social Responsibility Mission is to create a People First strategy by attracting, retaining, and engaging a diverse and talented workforce. 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.
To help build an inclusive workplace culture, NYCEDC supports six employee resource groups that strive to engage members and advocate for their respective communities within NYCEDC. Those groups are: Accessibility group, Elevation group (BIPOC), Mindful group, Out/EDC group (LGBTQAI+), Parents group and Women's Leadership group. NYCEDC employees work as part of a highly engaged, passionate and inclusive team where everyone’s contributions are valued, respected, and have an impact on one of the best and most diverse cities in the world!
For more information, visit our website at edc.nyc.