Benefits

Job Description

Silverstein Properties is a privately held, family real estate development, investment, and management firm, headquartered in New York with properties across the United States. We create value beyond real estate. We shape the future of how you work, live and play. Through exceptional service, hospitality, amenities, and technology, we offer an advanced atmosphere of well-being.

Silverstein Properties is a vertically integrated company with over 450 employees who manage all aspects of development, acquisitions, and management of real estate assets. These disciplines include operational management, asset management, commercial leasing, residential rental and sales, real estate development, construction management, acquisitions, finance, accounting, risk management, marketing, public relations, and real estate technology and innovation.

We are seeking an Associate to join our Asset Management team. The role involves managing and analyzing the financial aspects of various properties within the portfolio. Key responsibilities include maintaining valuation models, conducting property-level analyses, tracking property performance, assisting with business plan implementation, preparing budgets and investor reports, and participating in due diligence for acquisitions and dispositions.

Who You Are:

Attention to Detail and Curiosity: The ideal candidate should demonstrate superb attention to detail and possess a high degree of curiosity to explore and understand the complexities of our real estate assets. We recognize that diverse perspectives enhance our understanding and decision-making.
Analytical and Strategic Perspective: We are looking for candidates who can approach problems with an analytical mindset while also seeing the bigger picture and making strategic decisions. We value different perspectives that contribute to comprehensive and innovative solutions.
Financial Modeling Skills: Candidates with exceptional financial modeling skills, including cash flow analysis, IRR calculations, and discounted cash flow valuations, are encouraged to apply. We recognize that these skills can be developed in various contexts and industries.
Real Estate Accounting Knowledge: Familiarity with real estate accounting principles is preferred, and we are committed to providing training and support for candidates with expertise in other accounting practices who demonstrate the capacity to learn and adapt.
Time Management: The candidate should possess excellent time management skills, enabling them to prioritize tasks effectively and manage multiple responsibilities. We understand the importance of work-life balance and support our employees in achieving it.
Communication and Interpersonal Skills: We value exceptional communication, interpersonal, analytical, and writing skills. The ability to communicate clearly and collaborate effectively is vital to our inclusive and respectful work environment.
Self-Motivation and Professional Development: We encourage self-motivated and resourceful individuals who take ownership of their professional development to apply. We believe in fostering an inclusive culture that promotes growth and learning for all team members.
Enthusiasm and Collaborative Spirit: We are looking for candidates with enthusiasm and a desire to succeed in a collaborative environment. We foster a supportive and diverse community that embraces collective success.

In summary, at Silverstein Properties, we are dedicated to promoting equity and inclusion in our workplace. We welcome applications from candidates of all backgrounds and experiences, valuing the diversity of perspectives and ideas they bring. Join our team and contribute to an inclusive and vibrant environment where every individual's unique contributions are celebrated and valued.

What You’ll Do

Maintain/update Argus and valuation models on a quarterly basis; forecast capital contributions/distributions
Undertake detailed property-level analyses of prospective leasing deals, tenants/in-place leases, capital projects, operating and financial statements, market and competitive position, real estate taxes, insurance and other relevant information
Track ongoing property-level activity and identify trends/issues
Review monthly property performance on both a cash and accrual basis; identify issues and present opportunities for improvement
Assist Asset Manager with implementation of business plan initiatives; analyze property performance relative to business plan targets
Assist Asset Manager with preparation and review of property-level budgets
Prepare analyses/consolidate information for investor reports and executive team presentations
Assist Asset Manager with obtaining institutional investor/lender approvals and handle ad hoc requests for investors/lenders
Review annual property appraisals
Research value-add strategies/ideas to consider at the properties
Assist with analyses, due diligence, and preparation of investment books for financing, recapitalization and disposition transactions
Assist with due diligence and transition of new acquisitions into the operating portfolio

Preferred Qualifications

Education: Bachelor's Degree in real estate, business, economics, finance, accounting, or any related field is required. We welcome applicants from all educational backgrounds and encourage individuals from underrepresented groups to apply.
Experience: We are seeking candidates with 3-5 years of real estate asset management experience. We embrace diverse experiences and backgrounds, and candidates with relevant asset management expertise in various markets and property types are encouraged to apply.
Commitment to represent our company, buildings and values in a professional and customer-focused manner

Bonus Points

An MBA or Master's in Real Estate, but we value and respect the unique knowledge and skills candidates may have acquired through alternative educational paths.

If you got this far, we hope you're feeling excited about this role. Even if you don't feel you meet every single requirement, we still encourage you to apply. We're eager to meet people who believe in Silverstein’s mission and can contribute to our team in a variety of ways—not just candidates who check all the boxes.

We value our employees’ time and efforts. Our commitment to your success is enhanced by our competitive compensation, commensurate with experience, and our extensive benefits package. Plus, we work to maintain the best possible environment for our employees, where people can learn and grow with the company. We strive to provide a collaborative, creative environment where each person feels encouraged to contribute to our processes, decisions, planning and culture.

Silverstein Properties, LLC and all of its subsidiaries are proud to be an equal opportunity employer and value diversity at our company. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender perception or identity, national origin, age, marital status, protected veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application and/or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

Vaccination against COVID-19 is required as a condition of employment with Silverstein. Silverstein requires all employees to be fully vaccinated by the time they begin employment with Silverstein Properties. “Fully vaccinated means” that 14 days have passed since you received the second shot of a US-approved two-dose vaccine (such as the Pfizer or Moderna vaccines) or the one shot of a US approved one-dose vaccine (such as the Johnson and Johnson vaccine). All employees will be required to provide proof of vaccination to Silverstein in connection with Silverstein’s mandatory vaccination policy. Silverstein will comply with the reasonable accommodation provisions of federal, state and local laws for those individuals who are unable to receive the COVID-19 vaccine due to a medical condition or sincerely held religious belief.

Asset Management

Due Diligence

Financial Analysis

Portfolio Management

Operations

Leasing

Project Management

Research/Market Analysis

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