Portfolio Manager

Title: Portfolio Manager

Department: Property Management

Reports To: Senior Vice President of Property Management

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 Portfolio Manager will be responsible for the daily management of a portfolio of properties and help oversee all aspect of building operations. The individual will be held accountable for all business, financial and management aspects of the properties through leadership of two Property Managers.

RESPONSIBILITIES

• Responsible for the overall operational and financial goals for a portfolio of approximately four (4) properties totaling approximately 3 million sq. Ft.

• Develop and implement annual and long-term strategic business plans, including financial forecasts and budgets.

• Conduct monthly financial reviews; review monthly statements with budget/forecast versus actual amounts

• Oversee multi-year forecasting / modeling

• Prepare quarterly reporting for property and review with executive management

• Monitor each asset's performance as compared to company's performance standards and budget

• Complete, in conjunction with company's project managers, authorized Capital projects per property budget and monitor expenditure and timeliness

• Monitor collections of all property revenue sources

• Professional supervision of Property Managers and building staff

• Monitor hiring and staff performance at property level. Ensure training, ethics, and development of onsite employees

• Manage all employees to provide the best quality service in our properties

• Establish and measure clear goals and objectives in support of the priorities of the organization.

• Maintaining high customer satisfaction

• Review and oversight of tenant and employee handbooks

• Continuously identify all operating risks, including environmental, health & safety, and discuss solutions with management. Drive the implementation of measures, procedures, and training to minimize and mitigate them.

• Establish short- and long-range plans to include renovation or maintenance projects

• Drive operational efficiency with the properties

• Have sufficient knowledge of construction to supervise and coordinate all construction work to ensure that all alterations are performed in accordance with building standards and local code requirements

• Knowledgeable of the building mechanical, electrical, and plumbing systems

• Ensure that daily inspections are performed by building staff of the building's public and tenant areas

• Oversight and coordination of lease review and special arrangements for tenants, including TI process and notice provisions

• Oversee and ensure coordination between leasing, operations, and capital improvement efforts

• Support Tenant Relations

• Oversee annual tenant survey process Property Audits

• Perform property physical inspections to ensure property management policies and procedures are being performed and conditions meet company expectations

• Provide clear leadership of the company's philosophy and goals

• Support the Senior Vice President of Property Management in all real estate activities

• Administer special projects assigned by the Senior Vice President of Property Management

• Report to the Senior Vice President of Property Management any discrepancies above the projected expenses, monitoring of asset performance, financial results and execution of business plans

• Proactively maintain and assist in creating new Policies and Procedures related to the ongoing operations

• Other duties as assigned

WHAT SUCCESS LOOKS LIKE

The successful Portfolio Manager will lead and manage the property teams to have a tenant-focused customer service mentality. They will be self-driven with a positive attitude to create a long-term strategy and set stretch goals for the teams. They will be an effective and collaborative communicator with their teams, their tenants, and leadership. They will find opportunities where others see obstacles, and know when to be decisive and act, and when to take a partner. They will also present a well-maintained, operational, and safe property with tenant engagement.

REQUIRED SKILLS/ABILITIES

• Capable of reading, analyzing, and understanding business documents; financial statements, lease and contracts

• Ability to coordinate and manage multiple tasks efficiently with available resources in a fast-paced environment

• Basic understanding of electrical/mechanical and other operating systems to run office buildings.

• Professional presence and appearance

• Effective leadership and communication skills to the property team and upwards to management and ownership

• Strong supervisory and administrative skills

• Computer literacy required; Microsoft Word, Excel, Outlook, Yardi

EDUCATION & EXPERIENCE

• College Degree, Master's Degree in Business Administration, or related accredited designation preferred

• Minimum of ten (10) years property, maintenance, and construction experience

• Minimum of ten (10) years supervisory and management experience, including knowledge of property accounting, operations, leasing, and risk assessment

PHYSICAL REQUIREMENTS

• Prolonged periods of sitting at a desk and working on a computer

• Must be able to lift up to 15 pounds at times

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 $230,000 to $270,000. 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.