Local Law 11 / Building Envelope Architect --> RE Dev?
Hi folks,
I am a project manager / finance director for a small firm in NYC. Is this experience relevant to breaking into NYC RE Development? For context, I project manage exterior restoration / roof replacement for commercial buildings in midtown manhattan. I also manage the firm's day-to-day and long-term financial planning.
I have a BS in Finance and a Master of Architecture. Looking to stay at this firm for 1-2 more years to get licensed as an architect in NYC, then try to move to a developer to leverage my technical construction / project management skills and foundation in finance.
Am I crazy to consider this career change? Any ex-architects (particularly building envelope consultants) who have found success on the other side of the fence? Thanks.
Based on the most helpful WSO content, your background and experience are highly relevant for transitioning into NYC real estate development. Here's why and how you can position yourself effectively:
Technical Construction and Project Management Skills:
Your expertise in exterior restoration, roof replacement, and project management for commercial buildings in Manhattan is a strong asset. Developers value professionals who understand the technical aspects of construction and can manage projects efficiently. This aligns well with roles like project manager or development manager, where your hands-on experience will be directly applicable.
Finance and Architecture Combination:
Having a BS in Finance and a Master of Architecture gives you a unique edge. Developers often seek individuals who can bridge the gap between design, construction, and financial feasibility. Your ability to analyze financials while understanding the technical and design aspects of a project is a rare and valuable skill set.
Licensure as an Architect:
Staying at your current firm to get licensed as an architect is a smart move. It will not only enhance your credibility but also provide you with a solid foundation to transition into development. Licensed architects with project management experience are often seen as strong candidates for development roles, especially in NYC.
Networking and Transition Strategy:
Career Path Insights:
Many ex-architects and building envelope consultants have successfully transitioned into real estate development. As noted in WSO threads, starting as a project manager or development analyst is a common entry point. From there, you can grow into roles like development manager or director, leveraging your technical and financial background.
In summary, you're not crazy at all to consider this career change. Your background is well-suited for real estate development, and with strategic networking, targeted applications, and leveraging your unique skill set, you can make a successful transition.
In general, being an architect and knowing finance would be a really good start to working in development. Having project management experience, understanding a budget, knowing how to run a team, knowing blueprints, etc. are all valuable skills that are highly transferable. That being said, my understanding of NYC real estate is getting into development is difficult, to say the least. You already work in the city so that's definitely a good start, but it's the city that people are trying to get into development, so there is a lot of competition.
Thanks for sharing your perspective. Definitely understand the competitive landscape is quite intense. Since our firm works directly with RE developers (though primarily through their property managers) I am hoping to slowly expand my network and keep my eyes and ears open to opportunities. Other strategies include joining organizations like ULI (Urban Land Institute) to keep the conversations rolling. My ideal role would be a development & construction associate role where I can be on-site multiple days a week, working with contractors, reviewing plans, visiting actual projects, while understanding the deal structure behind it all.
Based on your experience, do these roles exist at the junior / mid-level? or are most RE shops primarily looking for well-trained ex-IB/PE folks to crank out acquisition/financing analysis, while the "building" is reserved for 10-15+ year experience industry veterans?
Thanks!
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