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Asset Manager

Company Confidential

Residential Multifamily Retail

Manhattan, NY

Salary Estimate: $110,000.00 - $130,000.00

Employment Type: Full Time

Work Place: Office

Experience Required: 2+ to 5 years

Education Required: 4 Year College

Benefits

Job Description

The Company:

A vertically integrated real estate investment and management Firm manages a growing residential and commercial portfolio primarily in New York City. The Company has private equity and high net worth investors.

Position: Asset Manager, Asset Management

The Company is seeking to hire an Asset Manager within the Asset Management team, who will be responsible for oversight of a 15-building portfolio located in Manhattan, comprising of over 600 residential units / 60 retail spaces. The ideal candidate has a high attention to detail, an ability to critically think, is well organized, and possesses the ability to communicate with teams within the company and externally to partners, investors, and lenders. The position will directly report to the Senior Director of Asset Management. This role will be located within the Company’s New York City office.

Responsibilities:

Financial Analysis and Reporting: Create monthly, quarterly, and annual financial reporting for investors, partners, and lenders. Perform variance analysis to review ongoing and future performance. Prepare monthly and quarterly distribution reports.
Property Performance Optimization: Actively monitor and evaluate ongoing performance of assets through assessment of financials, cash positions, KPI’s and market trends to enhance asset value.
Acquisition and Disposition: Participate in refinances, recapitalizations, acquisitions, and dispositions of assets. Assist the acquisitions team in due diligence efforts.
Tenant Relations and Lease Management: Oversee all existing commercial tenant relationships and commercial leasing activities. Communicate with brokers, counsel, partners, existing tenants and potential future tenants. Negotiate LOI’s, analyze potential deals on a quantitative and qualitative basis, oversee entire transaction process.
Cross Team Functions: Work with Construction and Property Management teams in landlord requirements. Take ownership in identifying value-add opportunities and strategies throughout the assets.
Budgeting and Forecasting: Lead budgeting process. Create templates and coordinate with Property Management, Construction, Leasing, and Accounting teams on execution of budgets. Review and analyze outputs. Create presentations and execute communication with partners and lenders.
Capital Markets: Experience working with capital markets, including knowledge of debt and equity financing options. Familiarity with the process of securing financing for acquisitions, refinancing, or capital improvements.
Investor Relations: Maintain relationships with partners, investors, and lenders. Lead weekly, monthly, and quarterly calls. Actively communicate with outside parties including counsel, consultants, expeditors, property managers, etc.

Experience Requirements:

Experience: At least 3 years of real estate experience with a New York City real estate owner/developer/investor/manager.
Industry Knowledge: In-depth knowledge of real estate markets, including trends, competitive landscapes, and economic drivers. Experience in rent stabilization and rent control.
Financial Analysis Proficiency: Strong experience in financial modeling, cash flow analysis, and valuation of real estate assets within Excel. Experience with property management software (specifically Yardi).
Organizational Skills: Capable of multi-tasking; balancing multiple objectives and/or competing priorities.
Risk Management: Experience in identifying, assessing, and mitigating risks associated with real estate investments. Familiarity with legal, regulatory, and environmental risks.
Communication Skills: Excellent interpersonal skills, with the ability to communicate effectively with both internal teams and external stakeholders, including institutional investors.