Commercial Lease Administration Manager

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, modernized, and amenitized office, retail, and multifamily assets. The Company’s flagship Empire State Building features its iconic Observation Deck, ranked the #1 Top Attraction in New York City. ESRT is a recognized leader in energy efficiency and indoor environmental quality, with a portfolio of approximately 8.0 million rentable square feet of office space, 0.8 million rentable square feet of retail space, and 743 residential units.

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 are Certified™ as a Great Place to Work® and prioritize the health and wellness of employees to attract, develop, and retain top-tier talent.

About the Role

The Commercial Lease Administration Manager oversees the day-to-day operations of the Lease Administration function, ensuring timely and accurate administration of commercial leases, strong internal controls, and data integrity within Yardi. This role manages the lease administration team, supports month-end close and financial reporting, partners with Leasing, Operations, Property Accounting, Legal, and Finance, and leads process improvements through automation and AI-enabled solutions.

Responsibilities

• Lease Operations:
  • Oversee timely processing of lease activations, amendments, renewals, modifications, and terminations
  • Monitor lease administration workflows, critical deadlines, and department trackers
  • Administer cash security deposits and letters of credit, including approved-bank review, receipt, replacement, transfer, reduction, release, drawdown, refund, and escrow coordination
  • Monitor tenant activation status, substantial completion, and deferral agreements
  • Coordinate acquisition and disposition lease administration activities
  • Provide direct billing instructions to Accounting/AR for base rent, percentage rent, license fees, utilities, and operating-expense/tax escalations
  • Implement automation and AI applications to improve workflow efficiency and reporting accuracy
• Controls & Compliance:
  • Ensure lease administration controls, policies, and procedures are maintained and followed
  • Coordinate internal and external audit requests and review supporting documentation
  • Review reconciliations, reports, and staff work for accuracy and completeness
  • Support the secure implementation of AI-enabled tools in accordance with company policies and internal controls
• Systems & Reporting:
  • Maintain the accuracy and integrity of lease and property information within Yardi
  • Coordinate reconciliations between Yardi and related systems
  • Support month-end close, reporting, budgeting requests, and lease-related financial analyses
  • Resolve discrepancies involving Salesforce, stacking plans, and other stakeholder source data
  • Evaluate opportunities to enhance reporting and data management through automation
• Team Leadership:
  • Manage, coach, develop, and evaluate lease administration staff
  • Delegate responsibilities and monitor team performance and workload
  • Promote continuous process improvement and operational efficiency
• Cross-functional Coordination:
  • Serve as the primary liaison between Lease Administration, Leasing, Operations, Accounting, Legal, and tenants
  • Provide lease interpretation and operational guidance, consulting Legal as appropriate
  • Partner with Accounting, IT, and business leaders on process improvements and technology initiatives
• Document & Record Management:
  • Oversee the organization, retention, and security of lease documents and records
  • Ensure lease files, notices, and supporting documentation are complete and properly maintained
  • Coordinate timely distribution of lease information to internal and external stakeholders

What Success Looks Like

• Timely activation of all lease documents and amendments and adherence to month-end close deadlines
• Maintaining strong internal controls and documentation that support audit readiness and minimize operational risk
• Building productive partnerships with Legal, Accounting, Property Management, and other cross-functional teams to resolve issues proactively and support business objectives
• Leading, developing, and mentoring the lease administration team by establishing clear expectations, driving accountability, and fostering continuous improvement
• Identifying opportunities to streamline processes, improve system utilization, and implement best practices that increase efficiency and data quality
• Supporting technology initiatives, system enhancements, and process improvements that strengthen the lease administration function and enable organizational growth

Requirements

• BA/BS degree in Accounting, Finance, Business, Real Estate, or related field
• Five or more years of commercial real estate lease administration experience
• Supervisory or management experience preferred
• Working knowledge of commercial leases, Yardi, and Microsoft Office
• Strong analytical, organizational, communication, and problem-solving skills
• Ability to manage multiple priorities, maintain strong internal controls, and lead process improvement initiatives

Skills

• Proficient in accounting systems (Yardi Systems is a plus)
• Proficient in Microsoft Office, with strong skills in Excel
• Strong communication and leadership skills

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

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
• Generous paid time off
• Flex remote work time and Flex Summer Fridays
• Employee engagement programs and volunteer time off
• Continuing education opportunities
• Complimentary Empire State Building Observatory access
• Complimentary gym membership and other wellness benefits
• Employee Discount Programs

Pay

$120,000 - $135,000 a year. Salary is based on several factors including education, work experience, job location, and certifications. In addition to base salary, ESRT provides discretionary annual bonuses.

Company Culture

At ESRT, employees embody the following culture and success factors:

• Adaptable: Self-starter able to quickly digest and execute new processes both collaboratively and independently
• Dynamic: Solutions-oriented, aiming to improve processes and implement efficiency while offering insightful feedback
• Dependable: Takes strong ownership and accountability over work
• Passionate: Keeps up with industry trends and is excited about propelling the industry forward with a “roll-up-your-sleeves” attitude
• Curious: Consistently looks for new ways to work smarter, not just harder
• Ethical: Treats others with respect, acts with integrity, and embraces collaborative culture
• Positive: Possesses a service-oriented attitude with excellent follow-through