The Port Authority of New York & New Jersey (PANYNJ) manages and maintains airports, bridges, tunnels, bus terminals, the PATH rail system, seaports and the World Trade Center redevelopment that are critical to the metropolitan New York-New Jersey region’s trade and transportation capabilities. Through their facilities and services, people are able to make vital connections and businesses are able to grow. Providing safe and efficient travel is their highest priority, and enhancing the well-being of everyone who lives, works, and travels to the region is their strongest commitment.
The PANYNJ is seeking a dynamic and experienced executive to serve as its Assistant Director, Strategic Transactions in its Real Estate Department. The Real Estate Department directs the PANYNJ’s major real estate developments and other components of its commercial real estate portfolio. The Real Estate Department creates a strategic vision for each of our assets, with the goal to maximize value in order to support the Agency’s transportation infrastructure. This includes monetizing non-core real estate holdings through disposition; assessing future real estate opportunities/investments using global best-practices; repurposing, redeveloping, or selling underperforming assets; and stimulating private investment to support the expansion of an efficient transportation system and other redevelopment opportunities.
The Real Estate Department’s portfolio of projects includes the World Trade Center (including One World Trade Center and the Tower 5 development site), development sites in Midtown near the Port Authority Bus Terminal, and the potential redevelopment of the Journal Square PATH station and surrounding property.
Analyze PA sites to develop a plan to maximize their highest and best use for the agency, which includes the following: * Negotiate and structure the disposition of properties to private developers in accordance with the best interests of the agency, working closely with executive leadership, staff, and other stakeholders to complete transactions expeditiously; * Oversee the development of a strategic plan for the Port Authority’s real estate portfolio addressing the potential for each asset in the current real estate market; * Analyze the value of assets taking into account their proximity to PANYNJ infrastructure, and potential rezoning initiatives; * Manage and structure complex public/private transactions from preliminary project idea through closing; * Conduct, and lead a team in, conducting financial analysis for complex project financing structures (including assessing developer’s debt and equity sources/terms and potential funding sources), to determine whether transaction is feasible; * Partner with internal Port Authority departments, (i.e., the Office of Planning and Regional Development, the Office of Financial Planning, the Law Department), intergovernmental agencies, municipalities, and other stakeholders to effectuate transactions, such as rezoning initiatives, that will maximize the value of the agency’s real estate assets; and * Manage staff of varying skill levels and competencies to maximize their potential.
Candidates must present the following qualifications to be considered eligible for this position: * Bachelor’s Degree from an accredited college or university in Business Administration, Finance, Real Estate, Urban Planning, Public Policy or other related field. Advanced degree is preferred. * 10 + years of commercial real estate transactions, including the analysis, development and disposition/acquisition of commercial property. * Demonstrated experience successfully directing real estate initiatives in a large organization with respect to consensus and collaboration among staff and shareholders. * Demonstrated knowledge and experience with commercial real estate valuation and uses (including land, office, retail and industrial). * Demonstrated experience working with private developers and public economic development and planning agencies. * Demonstrated record of increasingly responsible positions. * Strong communication, presentation, and interpersonal skills with demonstrated ability to interact with internal and external stakeholders. * Ability to lead motivate, mentor and develop diverse staff. * Strong critical thinking, decision-making and problem-solving skills.
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.
The Port Authority of New York & New Jersey/Port Authority Trans-Hudson (PATH) is an Equal Opportunity Employer.
To apply for this position, please copy and paste the following link into your browser address bar: https://panynj.contacthr.com/65623445