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 growing portfolio exceeds twenty million square feet.
Summary of Responsibilities:
The Development Associate is responsible for driving real estate development projects from beginning to end; assists the development management team throughout all project phases to include site acquisition, contracts, programming, design, finance, construction, and leasing/marketing; and provides overall development support to the Vice President of Development and the Senior Vice President of Development. This position assists with sourcing new development and acquisition opportunities; participates in the underwriting of development proforma and the submission, review, and analyses of Request for Proposals (RFPs); and prepares pre-development and development schedules.
The Development Associate is further responsible for preparing and reviewing various analyses necessary to implement development business plans to include complex financial models, cash flow projections, valuation models, sensitivity analyses, and budgets; tracking and analyzing market comparables for benchmarking; performing lender due diligence and credit data evaluations; and preparing various reports and memorandums necessary for the day-to-day management of projects. The Development Associate collaborates with consultants and the legal, accounting, construction, design, and asset management teams on various projects to include contract negotiations, recommendations, and project execution; coordinates capital calls; prepares project updates to investors and management; and assists with the execution of development agreement obligations. The Development Associate further assists with offering plans and marketing efforts, government agency program applications, and performs other duties as assigned.
Summary of Requirements:
Ideal candidates for the Development Associate position hold a bachelor’s degree from an accredited college or university. An advanced degree is desirable. The Development Associate’s experience should include a minimum of two (2) years of relevant experience in real estate development, real estate investment, business management, architecture or similar; an advanced knowledge of budgets, cost reports and other financials; and knowledge of general workflow and process in building construction. Effective analytical, administrative, judgement, problem-solving, decision-making, communication (verbal and written), and professional presentation skills are required. This position requires effective financial skills, the successful ability to perform both independently and as a team member within an entrepreneurial environment, a high attentiveness to detail, and the effective ability to stay focused and follow-through on responsibilities. MS Office (Excel, Word, and Outlook) knowledge is required.
Compensation & Benefits:
Extell Development Company offers competitive pay and benefits; and opportunities for professional growth and advancement.
*Equal Opportunity Employer
- Business Development
- Financial Analysis
- Hospitality / Entertainment
2+ to 5 years
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