Transaction Specialist

City of New York•New York City, NY

About The Position

The Real Estate Services (RES) division of the New York City Department of Citywide Administrative Services (DCAS) supports the City’s real estate needs. RES is responsible for space planning and management, acquisitions, sales and other dispositions of City-owned real estate, architectural design and project management, zoning and land-use analyses, property valuation, and financial analysis of real estate transactions. The RES Leasing unit finds space for City agencies and negotiates leases and licenses in privately owned buildings on the City’s behalf. Its goal is to negotiate cost-effective agreements and move them through DCAS processes in a timely manner while meeting agency requirements and City policies and procedures. The Transaction Specialist supports Transaction Managers and may act as a Transaction Manager for assigned lease projects. The position assists with market research, lease and license documentation, reporting, meetings, transaction records, acquisition review materials, and other leasing initiatives. It may also include overseeing College Aides and reviewing estoppel and SNDA requests for accuracy.

Requirements

A four-year high school diploma or educational equivalent and four years of satisfactory, full-time qualifying experience, including at least one year supervising other real estate management agents; or a baccalaureate degree from an accredited college and two years of qualifying experience, including the required year supervising other real estate management agents; or an equivalent combination of education and experience.
Qualifying experience must involve management of residential, commercial, industrial, or waterfront properties, including both renting and operating them, or site management or tenant-relocation activities connected with housing or reconstruction/rehabilitation projects.
Property-management experience must include renting and operating managed properties. Renting experience must include interviewing prospective tenants, qualifying tenant income and background, and/or ensuring vacancies are ready for occupancy. Operating experience must include overseeing maintenance and repair of building operating systems and overseeing staff to ensure work is properly completed.
Site-management experience must include on-site rental and maintenance of buildings.
Relocation experience must include negotiating with tenants to surrender leases for cash consideration or an alternative site, and determining tenant eligibility for benefits.
Education may substitute for experience at the rate of 60 semester college credits for one year of acceptable experience; all candidates must still have one year of experience supervising other real estate management agents.

Responsibilities

Research and analyze market comparables and other market data with Transaction Managers to assist in lease negotiations.
Assist Transaction Managers in preparing requests and forms related to the lease or license process.
Maintain and update department databases.
Help create and distribute project-status and other reports.
Prepare close-out files for fully executed leases or licenses.
Help organize meetings with internal staff, agencies, and outside entities.
Assist with drafting correspondence, term sheets, and other basic leasing materials.
Participate in meetings to obtain information or provide updates.
Follow up to obtain deliverables for meetings, including Acquisition Review Committee (ARC) meetings.
Work on ad hoc Leasing Department initiatives and processes.
Help Transaction Managers or other staff prepare for City Planning public testimony regarding the City’s acquisition of real property.
Assist with preparing and presenting Acquisition Review Committee packages and required documentation.
May assist in overseeing College Aides.
Act as a Transaction Manager for assigned lease projects.
Review estoppel and SNDA requests for accuracy.