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About the Role
Time Equities, Inc. is seeking a self-motivated and reliable associate to assist senior leadership in implementing business plans for an 8 million square foot portfolio through redevelopment, leasing, disposition, and management strategies. The Associate will report to the co-heads of the portfolio and work from our NYC office. This position offers valuable exposure and experience for a great career path.
Responsibilities
- Manage the full leasing lifecycle for new leases, renewals, expansions, amendments, and terminations, from initial proposal through lease execution and tenant move-in.
- Prepare and negotiate LOIs, term sheets, and lease drafts in coordination with counsel, brokers, and tenant representatives.
- Underwrite proposed deals, including net effective rent, TI and leasing commission costs, free rent, and impact on property cash flow and valuation.
- Coordinate required approvals from ownership, asset management, and lenders (SNDAs, estoppels, and lender consents).
- Track tenant improvement work and landlord deliverables with property management and construction teams through rent commencement.
- Manage day-to-day broker relationships, and prepare leasing activity reports and market comps for portfolio reviews.
- Initiate and maintain annual operating budgets for properties.
- Monitor and update cash management tracker and reserve fundings.
- Perform monthly reporting for properties.
- Monitor tenant and unit owner arrears and work with Rents Department and third-party managers on reconciliations.
- Oversee distribution schedule funding from third-party managers.
- Assist in construction bidding/monitoring process.
- Bid out and negotiate annual maintenance contracts.
- Research and initiate creative approaches to property expense reductions.
Requirements
- 1-3 years of experience in the management of a commercial property portfolio.
- High-level knowledge of Excel, Yardi, MRI, or other property accounting software.
- Excellent interpersonal, analytical, and writing skills.
- Strong organizational skills.
- Accounting experience preferred.
Skills
- Excel
- Yardi
- MRI
- Property accounting software
- Interpersonal skills
- Analytical skills
- Writing skills
- Organizational skills
- Accounting
Location
- NYC
Work Type
- Full-time
Experience Level
- 1-3 years
Salary/Compensations
- $85,000 - $110,000
Benefits
- Medical insurance
- Dental insurance
- Vision insurance
- Life insurance
- Disability insurance
- 401(k) Retirement Plan with company-matched contributions
- FSA
- Additional life insurance coverages
- $3,500/year in tuition reimbursement
- Tax-free benefits for mass transit or parking expenses
- Employee Assistance Program
- Internal mentorship program
- Opportunity to serve on internal committees
- Paid time off (vacation, sick, personal days)
About the Company
- Founded in 1966, Time Equities, Inc. (“TEI”) is a diversified investment, development, asset and property management, licensed real estate brokerage, and alternative energy company with 60 years in business.
- The TEI portfolio includes approximately 47.2 million square feet of residential, industrial, office, retail, and mixed-use property, including about 5,200 multi-family apartment units, approximately 1 million square feet in pending acquisitions, and 2.3 million square feet of various property types in stages of pre-development and development.
- TEI has 360 properties across thirty-seven states, five Canadian provinces, Anguilla, Germany, Italy, the Netherlands, and the UK.
- The TEI portfolio benefits from a diversity of asset types including student housing, non-performing loans, B-notes, and alternative energy investments.
- TEI has market concentrations in the Northeast, Southeast, Midwest, and West Coast of the U.S., and evaluates new markets globally.
Equal Opportunity
- Time Equities, Inc. does not discriminate based on race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status, or any other basis covered by appropriate law.
- All employment is decided based on qualifications, merit, and business needs.