Managing Director Multifamily Development
Managing Director Multifamily Development
Posted on :
10-04-2025
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1 Vacancy
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Monthly Salary
Not Disclosed
Salary Not Disclosed
Vacancy
1 Vacancy
Posted on :
10-04-2025
Job Description
POSITION SPECIFICATION
MANAGING DIRECTOR MULTIFAMILY DEVELOPMENT
MANAGING DIRECTOR MULTIFAMILY DEVELOPMENT
Shine Associates LLC (Shine) has been retained to search identify and recruit a Managing Director of Development on behalf of our client (Company). The position will be located in the New York office.
CONFIDENTIALITY
CLIENT DESCRIPTION
Our client is a premier residential developer of multifamily homes throughout the United States. Originally formed in 2011 by industry executives who have spent decades working together as a team the firm provides the perfect platform to build upon that expertise and bring innovative vision to its investments. There is a rich history of effective and successful leadership. Its culture of commitment means putting the best people in place for success and striving to have a relentless dedication to quality on every project every time.
The Company has 18 offices across the country. The organization has deployed more than $25B in transactions developing more than 30000 homes across the US with 2600 of those in the New England region.
MANAGING DIRECTOR DEVELOPMENT
The Managing Director (MD) is responsible for development of new multifamily communities in the New York/New Jersey Region. This position will report directly to the Senior Managing Director (SMD) located in New York and have a key role in sourcing (building a pipeline) and of the Companys development and new construction strategy. The MD will maintain a collaborative environment between Development Construction Finance Operations and Asset Management as appropriate and be responsible for expanding the pipeline executing the pipeline (which specifically includes due diligence managing the design and entitlement process financing working with construction for overall budget adherence). This position will be directly or indirectly involved in all phases of the acquisition development construction leaseup and disposition process.
The right candidate will have strong broker relationships market knowledge analytical and qualitative skills and excellent financial acumen and high proficiency in real estate underwriting and real estate finance concepts. The Managing Director will interface with real estate owners local market brokers and senior executives so applicants must have dynamic verbal and written communication skills and strong interpersonal abilities with a minimum of 715 years of prior real estate development experience.
KEY RESPONSIBILITIES
- Source/identify new multifamily development opportunities and sites in the New York/New Jersey region through developing and maintaining relationships with key stakeholders including brokers consultants land sellers equity partners lenders etc. in the Region to identify feasible financeable and profitable new initiatives.
- Negotiate or assist in the negotiation of complex legal instruments including contracts easements term sheets loan documents joint venture agreements municipal agreements joint development agreements etc.
- Develop and perform financial analyses and entitlement risk underwriting which forms the basis for site selection and the Companys spending of pursuit capital and allocation of investment capital.
- Manage the preentitlement process by maintaining accurate pursuit cost forecasting and reporting and implement and execute programs and processes to ensure proforma development budgets underwriting schedules quality and standards are met and completed in accordance with adopted Company policies.
- Fully engage and work with the Regions Senior Managing Director in achieving the Regions financial and growth goals by participating in team meetings and calls keeping team members informed about the status of new development work and actively working with the team on new business development meetings with clients and investors and other RFPs.
- Participate in routine Investment Committee meetings that focus on proposed development projects by making presentations on said projects working with and assisting the Senior Managing Director in project financing and reviewing and providing progress updates on projects under pursuit under construction and under leaseup.
- Manage complex development projects under construction to ensure developments remain on time and on budget; interact with construction team members and thirdparty general contractors to achieve business plan goals on specific assets.
- Manage consultant third party consultants to identify entitle design finance permit construct lease manage and dispose of new development projects.
- Accountable for coordinating work activities ensuring open communication between consultants and Company project team members lenders and equity investors as needed by researching and communicating ongoing project status.
KNOWLEDGE SKILLS AND ABILITIES
- Ability and preference for working in a teamoriented setting and interacting with several departments (Development Construction Asset Management Property Management and Finance) that provide functional expertise and insights toward proper product positioning.
- Deep and broad experience in multifamily development and new construction including market and submarket familiarity with the demand drivers supporting the growth of this business plus prior entitlement experience and a solid understanding of construction means and methods to lead initial and ongoing project planning meetings.
- Strong ability to solve problems and multitask in a fastpaced environment.
- Demonstrated ability to read write negotiate and communicate effectively to comprehend and/or complete legal contracts partnership documents loan documents financial spreadsheets and human resources documents and to create and make presentations to Board members Executive members partners lenders and staff.
- Demonstrated ability to read and comprehend architectural structural engineering and civil engineering plans.
- Extensive experience in negotiating Architectural and Engineering Consulting Agreements Easement Agreements and other related documents affecting title and survey.
- Demonstrated high proficiency in Microsoft Word and Microsoft Excel to complete required reports and employment documents.
- Demonstrate high proficiency in real estate modeling and underwriting as well strong understanding of real estate finance and structured finance concepts.
- Demonstrated management and supervisory skills sufficient to lead direct evaluate and mentor subordinate and peer employee staff as well as consultant teams.
- Employment history that demonstrates the application and usage of a development (and construction) and/or facilities background sufficient to design lead and direct development and construction activities and projects from design to completion.
EXPERIENCE
- 715 years of real estate development experience
- Proven success in sourcing transactions
- Definable experience with entitlements permitting and design
- Thorough understanding of development budgeting and underwriting
- Multiple market exposure throughout the New York metro region including N. New Jersey
COMPENSATION
The annual compensation for this role is expected to be approximately $350000 including salary and bonus. Actual base salary will be determined by several components including but not limited to relevant experience skills and qualifications base salary of internal peers and geographic location. In addition to base salary this role may be eligible for a discretionary annual bonus LTIP and a variety of financial wellbeing and health / welfare benefits.
CONTACT INFORMATION
Shine Associates LLC
45 School Street
Suite 301
Boston MA 02108
www.shineassociatesllc
Shine Associates LLC
45 School Street
Suite 301
Boston MA 02108
www.shineassociatesllc
Timothy M. Shine Principal David M. Slye Managing Director
emailprotected emailprotected
Required Experience:
Manager
Employment Type
Full-Time
Key Skills
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