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Job Details

Cost Manager

Company name
RELATED

Location
New York City, NY, United States

Employment Type
Full-Time

Industry
Real Estate, Estimator, Manager

Posted on
Mar 17,2019

Valid Through
Jun 30,2019

Apply for this job






Profile

Overview
Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 47 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., and London, and boasts a team of over 3,500 professionals. With over $50 billion in assets owned or under development, the company\u2019s portfolio is made up of best-in-class developments in premier high-barrier-to-entry markets across all asset classes. Related was recently named one of the \u201c50 Most Innovative Companies in the World\u201d by Fast Company Magazine. Related has dramatically redefined the concept of metropolitan luxury by introducing extraordinary residential properties in Boston, Chicago, Los Angeles, San Francisco, New York City and Washington, D.C. With each new building, Related has been hailed for setting new standards of excellence in the luxury marketplace. Related also owns an extensive portfolio of workforce and affordable housing and has several new rental developments underway across the country. Among other leadership initiatives, they were the first landlord to accept credit card payments, one of the first developers to build sustainable high-rise buildings and the first national developer to go smoke-free. Related\u2019s commitment to hospitality-level service in its residential buildings includes a proprietary training program that empowers employees to exceed its residents\u2019 expectations, and an exclusive strategic partnership with Hello Alfred to provide a suite of personal life-enhancing services to residents. Related is also a strategic investor in category-defining companies including Equinox® and SoulCycle. For more information about Related Companies please visit www.related.com.
Responsibilities
Job
Overview:

Act as an intermediary between development, construction, accounting and legal to produce financial reporting.
Ensure compliance to established processes and procedures for all cost processes
Financial Reporting \u2013 responsible for the projects weekly and monthly reporting. This includes internal reporting to upper management and external reporting to partners, lenders and tenants. Prepare cost analysis and reports for historical and current data as well as forecasted information to prepare Anticipated Cost Reports for sr. management. Work with project team to manager the Anticipated Cost Report for each project. Be prepared to discuss all relevant costs information with upper management. Budgets - maintain a deep understanding of the projects hard and soft cost budget. This includes understanding what work remains to be procured and what contingencies are available for use on remaining scope. Change Events - be able to manage and report on the projects change events log for Hard and Soft costs. Ensure all change events are tracked and reported with all relevant information including budget source and exposure amounts. Ensure anticipated risk is incorporated into cost analysis and projectionsPrepare cash flows and update as required
Estimates -  work in detail with development team, design team and construction team to create and review estimates
Procurement - work with the procurement team to very that bid package budgets are accurate
Work with DM, PM, Act. in transforming the estimates from native format into cost code structure
Assist in contract close out and ensure all cost data is accurately incorporated into close out process

Qualifications

Minimum of 5 years relevant experience in real estate development or construction management
Bachelor\u2019s degree in Engineering, Construction Management. Various undergraduate fields may be acceptable if accompanied by a master\u2019s level degree in Construction Management.

Company info

RELATED
Website : http://www.related.com

Company Profile
When pursuing real estate developments, acquisitions, finance and management, our creativity and commitment to excellence is unmatched in the industry.To always be the premier global real estate company by developing, owning, operating and financing superior developments in each of our market segments, thereby maximizing the benefits for our owners, partners, customers, communities and employees. To create a legacy of positive social, economic and physical impacts for all stakeholders. To sustain and enhance our already pre-eminent reputation within the industry. To offer a challenging and dynamic work environment for our employees. To be at the forefront of developing innovative solutions to the challenges that impact our business and the environment. In 1972, Stephen Ross founded Related Companies, known then as Related Housing Companies. From the beginning, Mr. Ross understood that only an experienced, multi-skilled team of professionals could drive Related to become what it is today – a fully integrated, highly diversified industry leader with expertise in virtually every aspect of development, acquisitions, management, finance, marketing and sales. During the 1970s, Related took the lead in financing and developing government assisted multi-family housing for long-term investment. It was a unique concept at the time and still is today. Related soon became the leading financier and developer of affordable housing in the country. By the start of 1980, Related rapidly diversified and over the next decade the company expanded the scope of its business and the range of its holdings. New projects included large-scale, market-rate multi-family developments as well as major metropolitan office and commercial properties. The financial services arm of the company grew considerably and became a major provider of debt and equity capital for private and public funds. The 1980s also brought about a name change in recognition of the company's new capabilities and expanded services, and the newly named Related Companies opened offices in Miami and Los Angeles to take advantage of opportunities around the country. While the real estate market took a downturn in the early 90s, Related began to acquire and reposition many assets, and its expertise was often sought out by owners of distressed properties. Following the downturn, Related led an urban and commercial resurgence, forming new partnerships and completing several mixed-use developments. Related also managed capital on behalf of several large institutions including the State Teachers Retirement System of Ohio, GM Pension Fund, MEPT and CalPERS, CreditRE and CertRE. Ventures with Credit-Suisse and Zurich Financial were also formed. In 1998, Related won the coveted bid to develop the prestigious Time Warner Center at Columbus Circle in Manhattan, which became an award-winning icon recognized around the world as a premier urban destination. At the onset of the 21st century, Related was poised to continue its expansion into new markets and forge new partnerships. In 2006, Related purchased Equinox® Holdings, Inc., further expanding the company’s capabilities into the fitness and lifestyle arena. Shortly thereafter, the company established partnerships with an elite consortium of investors to support the company’s significant growth potential and provide access to vast capital resources, and immediately began pursuing new transformative development projects of sizable scale, diversifying its portfolio and engaging opportunities abroad. In 2008, Related was selected to develop Hudson Yards, a new 28-acre neighborhood on the west side of New York City, and was tapped by Deutsche Bank to complete construction on the $4 billion Cosmopolitan Development in Las Vegas.

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