Senior Director for Transactions

The New York City Housing Authority (NYCHA) is the largest public housing authority in North America, providing housing for over 400,000 New Yorkers. NYCHA is committed to promoting safety, affordable housing, and sustainable communities for all residents. As part of our dedication to improving the quality of life in New York City, we are seeking an experienced Senior Director to work in NYCHA’s Real Estate Development Department to drive real estate strategy and development efforts. The Senior Director will be a key team member responsible for the development and execution of real estate deals within NYCHA’s Real Estate Development Department (REDD). Reporting directly to the Vice President of Transactions, the Senior Director of Transactions will help oversee complex deals, manage the Transactions project managers and directors, advise of strategy and development to push NYCHA’s real estate projects through the predevelopment phase. The Senior Director will help drive the agency’s real estate initiatives, ensuring that projects align with NYCHA’s mission of providing affordable housing and fostering sustainable, equitable communities. The Senior Director will help lead and direct a number of project managers within the Transactions team, providing strategic direction and support for a range of high-priority real estate development projects in the predevelopment pipeline. Responsibilities will include the following: Predevelopment Pipeline Management - Co-lead the sourcing, underwriting, and closing of NYCHA’s real estate transactions, amounting to over $6 billion in investments across multiple projects, under the direction of the Vice President for Transactions. - Provide oversight and guidance to project managers on financial modeling, local and federal approvals, and lead negotiations of key terms with our external partners. - Manage financial closing process, including leading communication with lenders, City agency partners, and HUD as they prepare for project closings. - Oversee (or undertakes directly) the coordination and compliance with all requirements for closing and funding of transactions. This includes internal NYCHA policies to approve projects through the disposition process. - Ensure all HUD applications and materials meet requirements and are submitted on a timeline that aligns with NYCHA’s real estate objectives. Manage and Build Relationships with External Funders - In coordination with the Vice President for Transactions, oversee request and approval process for gap funding from the City of New York. - Conduct pipeline management and closing planning with NYC HDC and other lenders. - Identify appropriate financing strategies and evaluate financing proposals for other real estate transactions outside of the PACT program. Lead Strategic Financial Planning for the Real Estate Development Department - Collaborate with external partners and consultants on potential real estate transactions and other financial opportunities to bring value to NYCHA. - Form and/or strengthen internal relationships with asset management counterparts to successfully transition closed projects and build a feedback loop into existing pipeline. - Provide guidance for teams within REDD on pipeline development. - Collaborate with teams within REDD on financial analyses of our pipeline of closed projects. Direct Redevelopment Projects - Manage and oversee redevelopment and non-traditional rehab projects. Assemble and supervise teams across verticals and coordinate with other NYCHA departments to manage daily activities leading up to conversion. - Provide REDD and NYCHA leadership with recommended actions to enhance on-site conditions prior to redevelopment. Publish innovative procurement procedures for redevelopment and non-traditional PACT projects to leverage existing engagement, improve cost containment, and increase the pace of delivery. - HUD Disposition Strategies: Serve as department lead on identifying the optimal disposition strategies for redevelopment projects, PACT projects, and new construction opportunities (Delayed Conversion, Transfer of Assistance, etc.). Conduct Special Research Projects for Immediate Implementation - Collaborate with REDD leadership and other NYCHA departments to identify priority topics that require dedicated research support. - Produce quarterly work plans to produce actionable recommendations. - Assist in reviewing PACT projects at CDL and design milestones and identify specific projects where there are opportunities to deploy new execution strategies. Staff Development & Supervision - Supervise a team of 8 or more Project Managers, Senior Project Managers and Directors. - Provide ongoing support and guidance across their workload. - Provide mentorship and strategic direction to the Transactions team to align work with NYCHA’s overall real estate objectives and strategy. NOTE: Due to the existence of a civil service list, candidates must have permanent civil service status in the title of Administrative Housing Development Specialist to be considered. NOTE: This position is open to qualified persons with a disability who are eligible for the 55-a Program. Please indicate in your cover letter that you would like to be considered for the position under the 55-a Program. For detailed information regarding the 55-a Program, please visit the link below: https://bit.ly/55aProgram Additional Information 1. INTERAGENCY TRANSFERS INTO NYCHA OF THOSE PERMANENT IN TITLE ARE NOT PERMITTED IN THE FACE OF AN ACTIVE AND VIABLE NYCHA PROMOTION LIST OR PREFERRED IS FOR THE SAME TITLE. 2. NYCHA employees applying for transfer, promotional, title or level change opportunities must have served a period of one year at current location and in current title and level (if applicable). 3. NYCHA residents are encouraged to apply. 4. NYCHA provides benefits that include a choice of medical coverage plans, deferred compensation plans and a defined pension benefit plan as a member of the New York City Employees’ Retirement System (NYCERS). Please read this posting carefully to make certain you meet the minimum qualification requirements before applying to this position. ADMINISTRATIVE HOUSING DEVELOP - 83006 1. A baccalaureate degree from an accredited college and four years of full-time satisfactory professional experience in the development, design, construction, appraisal, financing, negotiation or disposition of real estate or in real estate law, or in urban planning, design or renewal, or analytical or coordination work related to housing programs; at least 18 months must have been in an executive, administrative or managerial capacity or supervising professional personnel performing work in the fields noted above; or 2. Education and/or experience which is equivalent to "1" above. Graduate study in the field of urban studies, city planning, business or public administration, finance, architecture, engineering or other related fields may be substituted for up to one year of the required experience on the basis of 30 credits equaling one year of experience. Graduation from an accredited law school may be substituted for one year of the required experience. However, all candidates must have three years of work experience including at least 18 months of executive, administrative, managerial or supervisory experience as described in "1" above. The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.