Development Associate at Extell Development Company

New York, New York, United States -

Full Time

Start Date

Immediate

Expiry Date

04 Apr, 26

Salary

160000.0

Posted On

04 Jan, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Financial Skills, Analytical Skills, Interpersonal Skills, Attention To Detail, Work Ethic, Administrative Skills, Business Judgement, Communication Skills, Project Management, Real Estate Development, Budgeting, Market Analysis, Contract Negotiation, Construction Knowledge, MS Office Proficiency, Risk Evaluation

Industry

Real Estate

Description

Job Details Job Location: 805 Third Corp - 7th Floor - New York, NY 10022 Position Type: Full Time Education Level: 4 Year Degree Salary Range: $130,000.00 - $160,000.00 Salary/year Job Shift: Any The Company: Founded and headed by Gary Barnett, Extell Development Company is a nationally acclaimed real estate developer of residential, office, retail and hospitality properties, operating primarily in Manhattan and other premier cities across the nation. Experiencing outstanding growth since its founding in 1989, the company’s portfolio exceeds twenty-five million square feet. Summary of Responsibilities: The Development Associate is responsible for driving real estate development projects from beginning to end, supporting the Vice President or Senior Vice President, Development, and working in collaboration with legal, accounting, construction and asset management. The Development Associate is responsible for preparing and reviewing various analyses necessary to implement the development business plan; participates in the underwriting of development proformas, preparation of various reports and memorandums necessary for the day to day management of projects; and assists the development management team throughout all project phases such as site acquisition, contracts, programming, design, finance, construction, sales/marketing. Essential Functions: Create and modify complex financial models, including cash flow projections, valuation models and sensitivity analyses Prepare pre‐development and development schedules Prepare and modify development budgets for new and on‐going projects Track and analyze market comparables and benchmark projects Evaluate credit data to determine the degree of risk involved in order to prepare investment memos for debt and equity providers, assist with due diligence for lenders Prepare comprehensive monthly reports for investors Assist on execution of development agreement obligations Assist on execution of major project agreement (hotel management agreements, loan agreements, etc.) obligations Coordinate monthly budget and variance analysis and interpret financial performance with senior management Coordinate capital calls and prepare project updates to investors Assist with negotiation and execution of contracts with design teams, track project costs and approve consultant and contractor requests for payment Assist in review of design documents, participate in consultant coordination meetings, and use discretion for solving project design coordination issues Assist in preparation of offering plans and marketing efforts Participate in the process of sourcing new development and acquisition opportunities Participate and assist with preparation of government agencies program applications Review and analyze Request for Proposals (“RFP”), as well as participate in the preparation of RFP submission packages Perform any additional duties assigned by manager Qualifications Competencies: Strong financial, interpersonal, and analytical skills Ability to work as part of a team in an entrepreneurial environment Great attention to detail, work ethic and administrative skills Sound business judgement Excellent oral and written communication skills, ability to present recommendations and interact with the senior management and investment partners Education /Experience Preferences: Advanced degree preferred Bachelor’s degree from an accredited university or college required 2‐4 years of relevant experience in real estate development or investment, business management, architecture or other related activities in the real estate industry Knowledge of general workflow and processes for the construction of buildings Advanced knowledge of budgets, cost reports and accounting terms Excellent knowledge of MS Office (Excel, Word, Outlook) Work Environment: Office environment with the usual office equipment and minimal noise level Project site with dust, construction equipment and moderate noise level Travel to Utah project site, as necessary *Equal Opportunity Employer

Responsibilities

The Development Associate is responsible for driving real estate development projects from beginning to end, supporting senior management and collaborating with various departments. Key tasks include preparing financial models, development schedules, budgets, and reports, as well as assisting in project management and contract execution.