Managing Director, Development
New York/ New Jersey
Our client develops, acquires and operates high-quality apartment communities in desirable locations coast- to-coast. While they are a national company, they pride themselves on their ability to immerse themselves in their chosen markets – in other words, living and working in the communities where they operate. They combine deep understanding of each market with 30+ years of expertise and a fresh innovative approach to the apartment industry, to build relationships and places in which people thrive – creating real and enduring value for their residents, investors and associates.
CANDIDATE PROFILE: To provide support to the Senior Managing Director – Northeast by sourcing opportunities to continue building market share in Northern NJ and NY, including Westchester County, Long Island and the five boroughs. This position executes the development process from site selection and land acquisition to stabilization; reviews each phase from early conceptual design and entitlements thru the construction process and coordination of site specifications. Assist with the execution of existing development pipeline, including managing the design and completion oversight, as well as pursuit, diligence, and acquisition of new development opportunities.
Essential Duties & Responsibilities
- Assists in the pursuit of new development, including market analysis, financial feasibility, and preliminary due diligence.
- Coordinates duties with architect, engineer, landscape architects, interior designers, property managers, project managers, and development analyst.
- Manages the construction draw process, develops monthly project reports, and reviews each phase of the construction process.
- Manages third party inspections and bond releases for projects nearing completion.
- Assists in product and design for developing property.
- Conducts site visits to execute and document framing walks and general construction walks.
- Coordinates telecommunications including specifications, contract negotiations, and coordination of construction.
- Ensures strict compliance with plans and communicates to the Senior Managing Director any critical issues.
- Participates in Company-provided training such as fair housing, safety, non-discrimination, and harassment prevention.
- Complies with all Company National Standards, applicable health and safety rules and regulations, as well as applicable local , state, and federal laws.
- Can effectively manage design consultants, contracts and billing.
- Understands what makes a good development site.
- Able to assess sales and rental comps.
- Can work with an attorney on purchase agreements.
- Can accurately budget and track a project’s soft costs and schedule.
- Has a working knowledge of the construction process.
- Solid writing skills and public speaking skills.
- Competent to give tours to capital partners and lenders.
- Negotiation skills.
- Able to make tough decisions with incomplete information.
- Good interpersonal skills and can work well with construction and management personnel.
EDUCATION AND EXPERIENCE REQUIRED:
- Bachelor’s degree in Business, Finance, Real Estate or other related field is preferred for this position.
- Minimum of ten years of experience in real estate, development or finance. Large scale Multi-Family experience is preferred.
- Land acquisition experience is a plus.
- Prior architecture experience or construction experience is a plus.
POSITION OPPORTUNITY/SELLING POINTS: Our client is a stable, national developer of apartments that is well capitalized and positioned to take advantage of the opportunities in the current cycle – with 10 active developments and more in the pipeline. The client targets core markets that have been historically profitable in development, construction and acquisition endeavors. This individual will have an opportunity to shine working directly with the Senior Managing Director and considerable opportunity for growth and development.