Development Associate

Development AssociateSalary Range $130,000.00 - $160,000.00 Salary/year Position Type Full-Time Job Shift Any Education Level 4 Year DegreeOverviewFounded 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 portfolio exceeds twenty-five million square feet.DescriptionThe Development Associate is responsible for driving real estate development projects from beginning to end, supporting the Vice President or Senior Vice President, Development, and working in collaboration with legal, accounting, construction and asset management. The Development Associate is responsible for preparing and reviewing various analyses necessary to implement the development business plan; participates in the underwriting of development proformas, preparation of various reports and memorandums necessary for the day to day management of projects; and assists the development management team throughout all project phases such as site acquisition, contracts, programming, design, finance, construction, sales/marketing.Essential FunctionsCreate and modify complex financial models, including cash flow projections, valuation models and sensitivity analysesPrepare pre-development and development schedulesPrepare and modify development budgets for new and ongoing projectsTrack and analyze market comparables and benchmark projectsEvaluate credit data to determine the degree of risk involved in order to prepare investment memos for debt and equity providers, assist with due diligence for lendersPrepare comprehensive monthly reports for investorsAssist on execution of development agreement obligationsAssist on execution of major project agreement (hotel management agreements, loan agreements, etc.) obligationsCoordinate monthly budget and variance analysis and interpret financial performance with senior managementCoordinate capital calls and prepare project updates to investorsAssist with negotiation and execution of contracts with design teams, track project costs and approve consultant and contractor requests for paymentAssist in review of design documents, participate in consultant coordination meetings, and use discretion for solving project design coordination issuesAssist in preparation of offering plans and marketing effortsParticipate in the process of sourcing new development and acquisition opportunitiesParticipate and assist with preparation of government agencies program applicationsReview and analyze Request for Proposals ("RFP"), as well as participate in the preparation of RFP submission packagesPerform any additional duties assigned by managerQualificationsCompetencies:Strong financial, interpersonal, and analytical skillsAbility to work as part of a team in an entrepreneurial environmentGreat attention to detail, work ethic and administrative skillsSound business judgementExcellent oral and written communication skills, ability to present recommendations and interact with the senior management and investment partnersEducation /Experience Preferences:Advanced degree preferredBachelor's degree from an accredited university or college required2?4 years of relevant experience in real estate development or investment, business management, architecture or other related activities in the real estate industry2 years of investment banking preferredKnowledge of general workflow and processes for the construction of buildingsAdvanced knowledge of budgets, cost reports and accounting termsExcellent knowledge of MS Office (Excel, Word, Outlook)Work Environment:Office environment with the usual office equipment and minimal noise levelProject site with dust, construction equipment and moderate noise levelTravel to Utah project site, as necessary*Equal Opportunity Employer