Lease Administrator

Headquartered in New York with a nationally-scaled platform, RXR is a 450+ person, vertically integrated investment manager with expertise in a wide array of value creation activities, including acquisitions, asset and portfolio management, property operations, development, construction, leasing, and technological innovation. RXR is an active investor in real estate credit, rental housing, commercial property, and property technology through value-added and opportunistic investment strategies.

Job Summary:

The goal of the Lease Administrator is to effectively acquire, analyze, record and disseminate pertinent lease information between the Leasing Department and all other company departments in an efficient and professional manner.

The Lease Administrator will be responsible for the accuracy and timeliness of approvals, transmittals and lease abstraction/lease memos. By maintaining good operating procedures for lease abstracting and data and document management, internal departments will have correct information which will be disseminated to company personnel in a timely fashion.   The lease administrator will be responsible for keeping the information across several databases updated and correct.

This position requires a dedication to consistency and detail. It is the responsibility of the Lease Administrator to obtain, manage and provide accurate information to be used by anyone in the company who needs it.

Responsibilities: 

Final Executions/Initial Set-up

• Clear encumbrances (existing rights and options on a leasable space)


• Obtain lender approvals, confirm execution payments and W9s where applicable and thereupon, obtain and circulate final, internal signatures

Lease memos – all transactions across NYC and LI portfolios

• Review documents


• Obtain Landlord Work information from Design/Architecture where applicable


• Calculate internal and external brokerage commissions


• Calculate variances between projections and actual deal terms


• Abstract documents as to financial and non-financial deal terms


• Internally circulate memos


• Create and process, via submissions to A/P, invoices for brokerage commissions


• Follow for payment

Letters of Credit

• Maintain LOC tracker


• Review, process and record burndown requests


• Communicate with issuing bank and/or Tenant regarding LOC requirements

Reporting/Tracking

• Prepare Tenant holdover reports and Closeouts upon vacatur


• Prepare Space Memos upon loss-factor application and remeasures


• Update and maintain gross effective rent (GER) information


• Update deals at benchmark deal stages across applicable platforms

Data/Document Management

• Maintain all files, folders and platform withs current documents and information and according to established naming conventions

Competencies

Top Competencies

• Process & Systems Proficient: Proficiency with internal systems and processes is required, including Yardi and Excel; familiarity with Prophia and VTS is preferred.


• Builds and Maintains Key Networks and Relationships: Effectively builds and maintains formal and informal relationship networks inside and outside the company to meet shared objectives. Maintains relationships with key business constituencies (investors, partners, tenants, and brokers) across a variety of functions. Effectively gains insight into customer needs. Draws upon relevant relationships to execute transactions, exchange ideas, resources, and know-how.


• Presentation Ability: Ability to conduct presentations regarding commercial assets with articulate and well researched facts. Able to be “put on the spot” and provide confident, accurate, and compelling responses to complex questions from key constituencies.


• Accountable: Holds self-accountable to meet commitments in accordance with deadlines while maintaining accuracy in their work. Self-directed to communicate status; takes ownership for decisions, actions, and failures. Able to manage multiple tasks and projects.


• Self-Starter: Ability to take initiative and ownership over projects and independently navigate uncertainties with motivation to solve problems and achieve goals.

Experience and Education

• Bachelors Degree required


• 2-3 years in a related role.