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Cost Estimator-Real Estate/Commercial
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Position Overview
PACO Group (PACO) is seeking a highly skilled Cost Estimator to support MTA Construction & Development's Transit-Oriented Development (TOD) Business Unit. This role is central to evaluating and forecasting construction-related costs associated with real estate development near transit infrastructure—including residential, mixed-use, commercial, and overbuild projects. The Cost Estimator will analyze project documentation, validate developer submissions, and support feasibility studies for multiple high-profile sites across New York State. This position requires excellent analytical capabilities, deep industry expertise, and the ability to synthesize technical, financial, and operational information to produce credible and defendable cost estimates. The ideal candidate thrives in a collaborative, fast-paced project environment and brings a strong understanding of both construction practices and real estate development economics.
Job Responsibilities and Duties
- Develop conceptual, schematic, and detailed cost estimates for land preparation, infrastructure upgrades, and vertical construction for residential, mixed-use, and transit-adjacent development.
- Build and maintain cost models reflecting labor, material, equipment, escalation, contingencies, and financing assumptions.
- Perform quantity take-offs and prepare detailed cost breakdowns aligned with industry standards and MTA C&D guidelines.
- Analyze, validate, and reconcile developer-submitted budgets, pro formas, and financing assumptions, identifying inconsistencies and areas of risk.
- Conduct financial viability assessments, including sensitivity testing and cost benchmarking against comparable local and national markets.
Document, Plan, and Scope Analysis
- Review site plans, engineering drawings, architectural documents, geotechnical reports, and environmental assessments to identify cost implications.
- Evaluate the impact of site constraints, such as active rail operations, easements, structural limitations, and utility relocation requirements.
- Assess cost impacts related to project phasing, constructability, access limitations, staging requirements, and mitigation measures.
- Research market pricing trends, inflation factors, commodity volatility, subcontractor rates, and regional cost differentials.
- Build and maintain a robust historical cost database for use in TOD project forecasting and MTA strategic planning.
- Benchmark costs against industry standards, RSMeans, comparable developments, and MTA internal data sources.
Coordination & Stakeholder Engagement
- Collaborate with internal MTA project teams, including planning, engineering, real estate, and operations personnel.
- Liaise with external developers, consultants, and design teams to gather data, clarify assumptions, and coordinate estimate content.
- Participate in stakeholder meetings, workshops, and presentations, providing clear explanations of cost assumptions and variances.
Site-Specific Analysis
- Provide estimates and feasibility support for multiple TOD locations,
- These sites may involve complex considerations such as zoning, overbuild structures, active rail adjacency, and utility relocations.
Project Controls & Reporting
- Prepare written reports, estimate narratives, risk assessments, and cost summaries for MTA leadership.
- Identify cost drivers, risks, value-engineering opportunities, and procurement strategies.
- Support internal audits, compliance reviews, and estimate reconciliation processes.
Qualifications
- 10+ years of professional experience in construction cost estimating, ideally including large-scale infrastructure, real estate development, or transit-adjacent work.
- Bachelor’s degree in construction management, civil or mechanical engineering, architecture, or quantity surveying. Equivalent field experience may substitute for a degree.
- Demonstrated ability to develop detailed and conceptual estimates across multiple construction disciplines.
- Strong understanding of civil engineering, site work, structural systems, and vertical construction methodologies.
- Experience managing or supporting design and construction activities (preferred).
- Knowledge of construction costs, development feasibility, and financial modeling.
- Proficiency with cost estimating software, spreadsheets, and databases; advanced Microsoft Excel skills required.
- Ability to interpret technical engineering drawings, specifications, reports, and developer submissions.
- Strong communication, negotiation, and interpersonal skills for working with multidisciplinary teams.
- Knowledge of OSHA standards and possession of OSHA 30-hour Construction Safety Training (required).
- Experience with cost benchmarking, market analysis, and pricing research.
- Experience supporting public-sector or large institutional clients is a plus.
Preferred Qualifications
- Experience with transit-oriented development, overbuilds, or real estate projects adjacent to active infrastructure.
- Experience with financial analysis for real estate development, including pro forma review and feasibility analysis.
- Professional certifications (CCP, CPE, or similar) desirable but not required.
- Familiarity with New York State construction markets and regional labor practices.
Compensation
- Good-faith hourly compensation range: $65–$85 per hour, depending on experience, qualifications, and client requirements.
- 401(k) with employer matching
- Medical, dental, vision, life, LTD, and AD&D coverage
- Paid Time Off, Paid Holidays
- Professional development and training reimbursement
- Supportive, diverse, and inclusive workplace environment
EEO Diversity Statement
PACO Group, Inc. is committed to furthering opportunities for all employees and applicants in the construction and infrastructure industries. We provide Equal Employment Opportunities (EEO) without unlawful discrimination regarding race, creed, color, national origin, sex, age, disability, marital status, religion, military status, pregnancy, sexual orientation, or citizenship status. Our diverse workforce reflects our longstanding commitment to inclusion at every level of the company.
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