Development & Acquisitions Associate

Position Overview

Gotham is looking for an Associate to support its real estate development team. The role offers an excellent opportunity to intimately learn about all facets of the commercial real estate development industry, including project management, finance, acquisitions, assemblage, land use, design, and marketing. The team is small, entrepreneurial, and collaborative, creating a fast-paced environment engendering quick but informed and pragmatic decision-making. The candidate will work directly with and support all members of the development team. The Associate is expected to learn quickly and contribute meaningfully from day one. 

Position Responsibilities

• Underwrite and diligence a variety of real estate transactions with a strong focus on large scale ground up development.
• Prepare and maintain  complex pro forma cash flows.  Independently construct and analyze financial models to evaluate a variety of properties and real estate deals by utilizing Excel spreadsheet models.
• Assist in preparing offering memorandum packages used in the solicitation of Equity Investor commitments and Debt Financing (permanent and construction).
• Help in preparation of bid packages and term sheets for new deals.
• Participate in due diligence process.
• Assist in project management and administration including processing monthly draw requests, leveling consultant bids, reviewing legal documents, and furnishing information, applications, and reports to public agencies, third parties, investors, and financiers.
• Participate in project design and strategy meetings.
• Prepare and update cash flow projections for each asset, using Excel, to support potential leasing, redevelopment, refinancing, and/or disposition scenarios.
• Market Research: Conduct periodic comparable property sale and leasing studies and specific research to support investment decisions..

Requirements and Qualifications

• 2-5 years of experience in real estate finance, banking, or development. Significant financial analysis and underwriting experience required; working knowledge of residential development properties preferred.
• High level of proficiency in Microsoft Excel required.
• Working knowledge of Accounting and Finance principles.
• Experience analyzing commercial real estate development and value-add transactions including understanding of “waterfall” analysis for equity/promoted interest structures.
• Knowledge of budgeting, underwriting, due diligence, asset and portfolio valuation, discounted cash flows, and analysis of financial statements are required.
• Strong interest in real estate development.
• Excellent analytical and quantitative skills.
• Results-oriented with strong attention to detail and ability to produce quality work in a consistent manner. Ability to present work in a concise, complete, and easily digestible manner. 
• Self-starter who has the ability to learn quickly, work independently and as a team member, and complete multiple tasks with minimal guidance in a fast-paced entrepreneurial environment.
• Ability to prioritize and handle multiple tasks simultaneously, organize and coordinate work efficiently, set priorities, and meet deadlines in a demanding work environment.

About Gotham Organization

Founded in 1912, Gotham is a New York real estate developer, owner and property manager delivering smart and stylish life experiences that transform the buildings and neighborhoods where residents live, work, shop and dine. Its three business divisions, Gotham Development, Gotham Properties, and Gotham Hospitality, offer a diverse and evolving portfolio of luxury rentals, condominiums, retail and mixed-use spaces, a full-service property management business, and the artisanal food halls Gotham West Market and Gotham Market at The Ashland.

Gotham has over 100 years of experience constructing and developing high quality mixed-use buildings throughout New York. Gotham’s long track record of success in developing homes for low, moderate, and middle income residents in New York City is possible thanks to successful partnerships with public agencies, not-for-profits, other developers and land owners. Following development and construction, Gotham’s in-house property management division seamlessly transitions into ongoing building and community management, operating vibrant and engaging communities in the neighborhoods it builds in.

Gotham is an equal opportunity employer. Gotham does not discriminate in employment on the basis of race, color, religion, sex, national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, or other applicable legally protected characteristics. We celebrate diversity and are committed to creating an inclusive environment for all employees.