Blumenfeld Development Group, Ltd. has an immediate opening in our Syosset, NY Corporate headquarters for an experienced, full-time Senior Financial + Development Associate. The successful candidate must have a passion for real estate, be self-motivated and self-driven, will possess outstanding communication skills and have an ability to dig into all aspects of commercial development.
BDG is a full service real estate development firm with a development portfolio that includes regionally significant projects, entertainment-based retail, multi-tenant office, medical office, industrial and multi-family residential. BDG has a fully integrated team capable of providing a wide range of real estate services, including those related to leasing, acquisitions, property management, construction, permits and approvals, architectural and engineering design, and user operational planning.
- Responsible for sourcing and underwriting new acquisition and development opportunities, including site selection, tenant and market demand, entitlement review, financial risks/rewards, and presenting written summaries to principals.
- Oversee all facets of development process including financing, planning/design, entitlements, construction, partnerships, budgets, leasing, and housing regulations.
- Execute transactions including acquisition, financing, due diligence, 1031-exchange, ground up and redevelopment value add projects.
- Negotiate purchase and sale agreements and joint ventures structures.
- Responsible for marketing projects under development and vacancy in manage roll overs.
- Work closely with outside brokers to properly market vacancies to prospective tenants (flyer creation, email blasts, leasing plans, site tours).
- Negotiate key business terms in letters of intent.
- Manage drafting and negotiation of leases with outside counsel.
- Ensure key lease dates (delivery, rent commencement) and other milestones are delivered on time.
- Create leasing flyers for marketing.
- Show space and sites to prospective tenants.
- Create and present tailored “pitchbooks” to prospective anchor tenants.
- Create all lease exhibits (LODs, signage, workletter).
- Create and maintain project schedules, proformas, budgets, investor memorandums, and internal investment reports for principals.
- Create project pro‐forma including capital stack, projected operating income and expenses.
- Analyze various development scenarios including sensitivity analyses.
- Work closely with Accounting on annual budgets and spearhead monthly meeting to discuss on-going and upcoming cash needs for pipeline projects.
- Maintain and distribute Anticipated Cost Report to principals and other development team.
- Create detailed financing requests for lenders for existing assets and new opportunities.
- Review loan documents.
- Project and track cash flows for development projects.
- Working closely with design and construction teams when evaluating new development opportunities including space layout and site design.
- Create leasing plans and tenant layouts for prospective tenants.
- Coordinate the transition from construction to property management for completed projects.
- Manage various consultants (architects, expeditors, engineers) and review consultants work for accuracy and detail.
- Attend project meetings during construction.
- Provide strategic guidance and leadership to analysts, and responsible for new development hires.
- Implement regular acquisition and development meetings with principals to facilitate construction discussions about potential opportunities.
- Create competitive market demographics and retailer maps to properly assess new opportunities.
- Assist in responding to Request for Proposals for potential acquisition or developments.
- Attend trade shows and participate in regional real estate groups to broaden relationships and promote BDG’s brand.
- Create regular partnerships updates.
- Complete ad-hoc analysis for dispositions, leasing projections, financing assumptions, capital planning an as-needed basis.
- Assist in preparation of RFP’s, financing packages, and other special reports and presentations.
- Review leases and prepare lease abstracts.
- 5-10+ Years of relevant commercial real estate development, finance and acquisitions experience.
- Strong experience with financial analysis and sensitivity scenario analysis is required and understanding of relevant real estate finance metrics (IRR, NOI, NPV,and cash-on-cash returns).
- Strong Modeling experience using Excel and Argus.
- Working knowledge of Excel, Word, Argus, PowerPoint and basic knowledge of accounting.
- Strong communication, presentation, and writing skills.
- Strong quantitative skills
- Detail oriented
- Highly motivated and organized
- Excellent communication skills
- Good team player
- (Employee contributions and waiting periods may apply)
- *Life & Accidental Death Insurance
- *Short & Long Term Disability
- *Flexible Spending Plan
Blumenfeld Development Group, Ltd. is an Equal Opportunity Employer