Associate Developer
Location: Brooklyn, NY
Work Arrangement: On-Site
Employment Type: Full-time
Compensation: $100K-$110K plus bonus, depending on experience
Requisition ID: 2026-3420
Role Summary
This position assumes exposure to and participation in all aspects of multi-faceted real estate development projects, both market-rate and affordable, from inception through construction completion and lease-up. The Associate Developer provides timely and accurate support to an in-house team of Developers, Senior Developers and Regional Vice Presidents, and gains exposure to an external team of financiers, architects, designers, engineers and contractors, with responsibility for most follow-up. Each Associate Developer participates in multiple projects in varying stages of development at the same time. The position demands strong financial skills, meticulous accuracy in all work, and effective written and oral communication.
What You'll Do
- Conduct financial modeling to determine the economic feasibility of projects
- Draft, edit, assemble, and finalize multiple professional RFPs and RFQs under the direction of the Team Leader
- Participate in building strong public-private partnerships
- Work with municipalities to ensure good communication
- Prepare professional PowerPoint presentations for large and small groups of financiers, municipalities, and community constituents to market Pennrose Properties, including to groups that may be skeptical or occasionally adverse
- Provide timely follow-up on the land-development approval process
- Coordinate legal matters as directed by the Team Leader
- Maintain working knowledge of all site-control documentation, loan agreements, equity documents, and partnership agreements
- Coordinate architectural and engineering matters for proposed developments under the direction of the Team Leader
- Create realistic project schedules
- Develop realistic project budgets
- Interface with contractors and other professionals to build proposed developments
- Coordinate the lease-up of completed developments with full flow of information concerning limiting criteria
- Maintain calendars and schedule and coordinate the logistics for all development meetings
- Comply with all provisions of the Pennrose Properties personnel policies
Performance Metrics
- Work product, including components of RFP submissions, 8609 submissions, NPDS, funding applications, draw-down packages and other project documents, is prepared with a high level of accuracy and attention to detail and delivered on time
- Demonstrated financial skills through the production of budgets and proformas throughout the development process
- Project development goals are met within established timeframes
- Project development checklists and schedules are managed in an organized, systematic way (employing technology tools) to close on time and within budget
Required Qualifications
- BA or BS in Finance, Real Estate, Business or related field
- Master's Degree or at least 3 years of work experience
- Solid real-estate knowledge base
- Strong analytical ability
- Exceptional verbal and written communication skills
- Expertise in composing on-message PowerPoint presentations
- Considerable interpersonal skills, including the ability to establish and maintain effective working relationships with others while being both responsive and thoughtful
- Discretion in handling confidential information
- Demonstrated organizational skills, including the ability to set priorities in concert with the development team
- Ability to work independently
- Demonstrated ability to work under pressure, exercising sound judgment, prioritizing demands and responding with composure in a fast-paced environment with high-energy leadership
- Demonstrated understanding of project proformas for both market-rate and public housing developments
- Experience filing applications requesting Low Income Housing Tax Credits, Federal Home Loan Bank Affordable Housing Program funds and soft resources
- Proficiency in Outlook and Microsoft Office, including Word and Excel
- Demonstrated punctuality and respect for others' time
- Accuracy, attention to detail, and speed in task execution
- Strong work ethic and exceptionally high work standards
- Maturity, good judgment and professionalism
- Valid driver's license, an insured vehicle, and the ability to travel (between properties, on-call emergencies, training, etc.)
Physical Requirements & Working Conditions
The ability to work periodic flexible hours is required. The ability to travel by plane and automobile is required. The position requires the ability to work at property locations within or near transitional neighborhoods, with the support of PMC, and the ability to climb stairs, take elevators, bend, squat and reach overhead.