Senior Investments Professional

Title: Senior Investments Professional

Department: Investments

Reports To: Chief Investment Officer  

Location: New York, New York 

FLSA: Full-Time, Exempt

Company Summary

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets and the Observatory deck attraction in ESRT’s flagship Empire State Building – the “World’s Most Famous Building”. The Company is the recognized leader in energy efficiency and indoor environmental quality. As of March 31, 2024, ESRT's portfolio is comprised of approximately 8.6 million rentable square feet of office space, 0.7 million rentable square feet of retail space and 727 residential units. More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook , Instagram , TikTok , X, and LinkedIn .

The dedicated team at ESRT is a collection of diverse individuals with a shared passion for excellence and a keen eye toward future growth. Headquartered in New York City, we harness the energy of the city in everything we do. We care for one another, work hard, and have a lot of fun doing it! We are Certified™ as a Great Place to Work® by the global authority, Great Place to Work®, on workplace culture, employee experience, and leadership behaviors. We prioritize and invest in the health and wellness of employees to attract, develop, and retain top-tier talent. ESRT values continuous employee development and encourages colleagues to excel in their roles and adapt to emerging business needs. From our crown jewel, The Empire State Building, to incredible buildings modernized for the 21st century, to outstanding customer service, and our decade-long leadership position in sustainability and energy efficient portfolio that is 100% fully powered by renewable wind electricity, we take pride in our work. ESRT seeks an equally passionate colleague to join the team, understand the vision and help achieve that vision.

Position Summary

The Investment Team seeks to invest in office, retail, and residential assets and pursue equity, preferred equity, mezzanine, and distressed debt opportunities. The Senior Investments Professional will work directly with the Chief Investment Officer as a thought partner and help lead the accretive growth efforts of the Company. This position is integral to all phases of the investment process, including idea generation, sourcing, underwriting, diligence, and execution.

Responsibilities

• Execute investments to the highest institutional standard
• Lead Associates and Analysts in property and portfolio underwriting that isolates key variables and considers various outcomes.
• Coordinate and review underwriting feedback with leasing, construction, property management, and legal teams and with external consultants.
• Manage preparation of clear and efficient investment memoranda and present to the ESRT investment committee with the CIO.
• The investment committee includes the CEO, President, CIO, Chief Counsel, FP&A director, and EVP, Real Estate.
• Manage a comprehensive due diligence process with the investment team.
• Identify and quantify risks.
• Define and refine market leasing assumptions.
• Develop capital expenditure budgets, estimate project timelines, and evaluate operating expenses with the ESRT operations team.
• Organize and lead market diligence trips, competing property tours, and onsite inspections.
• Utilize advisors and counsel efficiently and effectively to complete diligence.
• Communicate findings succinctly with ESRT investment committee and recommend actions to address these findings.
• Design and implement processes, including identification of enhancements/changes to current processes and approaches, to improve investment efficiency.
• Review transaction agreements, supporting exhibits, leases, zoning analyses, due diligence reports, and other relevant documents.
• Work with the ESRT FP&A team to evaluate a potential investment's impact on crucial Company metrics including FFO, AFFO, dividend coverage, and leverage ratios.
• Draft offer letters and work with the ESRT legal team to structure transactions.
• Manage and staff the Analyst and Associate team to prioritize key investment deliverables.
• Develop enhancements to Dealpath system to efficiently screen, process, and execute investments.
• Coordinate with Chief Counsel to process and execute NDA’s on new opportunities.
• Execute key asset management initiatives
• Review and propose capital recycling opportunities with CIO.
• Deploy strategic initiatives across the portfolio.
• Ongoing evaluation of property performance against underwriting and approved business plans.
• Review capital spending budget across the portfolio with EVP, Real Estate, CIO, and Heads of Leasing.
• Participate and coordinate quarterly asset management committees.
• Contribute to investment strategy
• Work with the CIO to develop distinct perspectives that inform sourcing and investment strategy.
• Lead market research and meet with market intermediaries to build real-time insights.
• Analyze capital markets and public and private competitor activities, and strategies.
• Lead Analysts and Associates in preparation of investment white papers to inform the ESRT investment committee of relevant market opportunities and new ideas.
• Prepare materials for monthly and quarterly Finance Committee meetings.
• Act as a culture carrier and exemplify the guiding principles of ESRT
• Mentor, train, and develop Associates, Analysts and Interns. Retain, attract, and provide constructive feedback to team members.
• Create repeatable processes that provide certainty and save time.
• Service-oriented, ESRT brand ambassador.
• Team player.
• Maintain and develop industry relationships and networks
• Develop and enhance investment sales, leasing, investment banking, financing, legal, and other advisory relationships with a goal to source investment opportunities.
• Meet regularly with key industry contacts and remain aware of competitor transactions and ideas for ESRT.
• Track investment opportunities and manage ESRT’s pipeline in Dealpath.
• Integrate within ESRT and become a knowledge and relationship resource to the platform.
  

What Success Looks Like

• Manages and mentors the Investment Team and ESRT and develops successful relationships with the senior leadership team and other departments.
• Works with the Chief Investment Officer to develop distinct perspectives that inform ESRT’s sourcing, investment strategy, and portfolio management strategy.
• Leads acquisition underwriting, due diligence, and execution for new investment opportunities.
• Supports portfolio management, disposition and capital recycling opportunities.
• Assesses current investment underwriting, acquisition and disposition processes and identifies opportunities to increase efficiency and reduce risk.
• Supports capital raising initiatives and helps execute asset-level financings.
• Develops relationships with external transaction related intermediaries including property owners, investors, and investment sales agents.
• Demonstrates practical communication skills, strong business judgment, and a strategic mindset, and communicates with the finance committee of the board of directors, fellow members of the investment committee, and the management committee.
• Helps direct the resources of the Investment Team and other ESRT departments to support how ESRT drives shareholder value.
  
  

Required Skills/Abilities

• Displays excellent judgment and can act decisively in situations requiring quick but thorough analysis and decision-making, while understanding when and how to escalate issues appropriately.
• Highly detail-oriented, has strong organization and communication skills, can prioritize and re- prioritize based on changing business needs, and takes a project management approach to their work product.
• Active collaborator that thrives in a transparent and communicative setting.
• Has an entrepreneurial spirit and is excited by the challenges that come along with building a business.
• Domain knowledge of New York and the greater metropolitan area is preferred.
• Proficient in ARGUS and Excel.
  
  

Education & Experience

• 7+ years of real estate investing experience and financial services. Experience in Asset Management is a significant plus.
• Experience in restructuring and/or evaluation of credit opportunities.
• Experience leading a successful and high-performing team of Analysts and Associates.
• A college degree in business administration, real estate, finance, or related field preferred.
  
  

What You Can Expect

At ESRT, like our tenants, our employees come from everywhere. We foster a richly diverse work environment that captures top talent and cultivates the best ideas. By focusing on inclusion and celebrating our differences, we create even greater value — in business practices, relationships, and employee engagement. As an Equal Opportunity Employer, we are committed to maintaining a diverse, inclusive and equitable work environment where our employees can thrive. In addition, ESRT employees embody our Company Culture & Success Factors -

• Adaptable – you are a self-starter who’s able to quickly digest and execute new processes to work both collaboratively and independently
• Dynamic – you are solutions-oriented, aim to improve processes and implement efficiency, and offer insightful feedback to improve ESRT
• Dependable – you take a strong sense of ownership and accountability over your work
• Passionate – you keep up with industry trends and are excited about the potential to propel the industry forward with a “roll-up-your-sleeves” attitude
• Curious – you consistently look for new ways to work smarter, not just harder
• Ethical – you treat others with respect, and embrace and contribute to a culture of diversity and inclusion
• Positive – you possess a service-oriented attitude with excellent follow through
  
  

The salary range for this position is $200,000 to $300,000. Salary is based on several factors including but not limited to education, work experience, job location, size of property where applicable, and/or certifications. In addition to your base salary, ESRT provides discretionary annual bonuses. ESRT offer comprehensive, competitive benefits & well-being programs including:

Benefits

• Competitive base salary and bonus
• Health/Dental/Vision insurance
• Company sponsored Life, AD&D, STD (with Salary Continuation), and LTD Insurance
• Voluntary Enhanced LTD Program
• Voluntary Hospital, Accident, and Cancer Programs
• 401(k) with 100% match up to 5%
• Paid parental leave
• Pre-tax transit accounts
• Employee Assistance Program for emotional, financial, and legal support
  
  

WELL-BEING

• Generous paid time off
• Flex remote work time
• Flex Summer Fridays
• Employee engagement programs
• Volunteer time off
• Continuing education
• Complimentary Empire State Building Observatory access
• Complimentary gym membership and other wellness benefits
• Employee Discount Programs
  
  

ESRT is an affirmative action and equal opportunity employer and is committed to providing a workplace free from harassment and discrimination. We celebrate the unique differences of our employees because they drive curiosity, innovation, and the success of our business. We do not discriminate on the basis of race, religion, color, creed, national origin, sex, sexual orientation, gender identity or expression, age, marital status, veteran status, disability status, pregnancy, parental status, caregiver status, genetic information, political affiliation, or any other status protected by the laws or regulations in the locations where we operate. This policy applies to all aspects of employment, including hiring, promotion, demotion, compensation, training, working conditions, transfer, job assignments, benefits, layoff, and termination. Accommodations are available for applicants with disabilities.