Reporting directly to the Senior Asset Manager, the Asset Manager will be responsible for overseeing the financial performance, business strategy, and reporting requirement of the assigned portfolio. This position requires the directing, evaluating, and managing all internal and external personnel assigned to his/her supervision (inclusive of third-party property management companies).
Responsibilities Portfolio Management: Oversee a current and growing pipeline of properties and make strategic recommendations regarding operations:Must have an intimate understanding of partnership structures, approvals processes and an intimate working knowledge of regulatory agreements and loan requirements.Understand both federal and local subsidies including NYCHA, HPD, HUD and Low Income Housing Tax Credits (LIHTCs).Financial Analysis and Reporting: Evaluate and analyze property and portfolio level financial performance on a regular basis, identifying ways to improve and optimize operations, cash flow, and long-term value including:Annual budget development and monitoring with on-site/regional property managers.Annual marketing and leasing plans.Bi-annual recapitalization, refinancing, and/or disposition analysisQuarterly financial reporting including a bi-annual physical assessmentQuarterly capital improvement forecasting including processing any required capital calls for market rate project and/or LIHTC projectsMonthly internal portfolio/property-level reporting including project in construction, lease up, stabilization and conversionMonthly financial statement review including partner distributions, operating statements, rent rolls, delinquency reports, utility reports, leasing reports, etc. to ensuring accurate accounting and budget variance approvalsDaily monitoring stabilized state tax credit projects and on-site and reporting compliance for LITHC projects as required by IRS Section 42 guidelines.Evaluate and analyze property taxes to minimize risk.Participate and oversee the audit process for each asset.
3rdParty Point of Contact: Lead and manage interactions with third-party investors, vendors and government regulators including:LIHTC investors, lenders, and on-site property management staffDebt and equity partners, including market-rate, affordable and student housing investors.Third party inspectors including State Agencies and lenders.Clients and third-party vendor partners including direction and oversight of third-party management company identifying any challenges and executing timely and effective solutions.
Portfolio Value Maximization: Identify and manage issues and opportunities for revenue, expense and capital improvement optimization including:Assess and analyze all operational elements as part of a thorough risk assessment.Oversee all capital projects.Ensure assets are managed to the highest industry standards and in compliance with company standards.Proactively analyze economic trends for each specific asset; sub-market and forecasts trends that impact long/short term disposition and exit strategies
Internal Organizational Responsibilities:Coordinates activities with other departments especially Finance and AccountingParticipates in monthly calls with the development team, property managers, and other partnersReview and approve all RFP response and third-party contracts and ensure appropriate and consistent bidding and ultimate adherence to the contract terms Qualifications Bachelor’s degree required, MBA a plusMinimum of 5 years of professional tax credit, NYCHA, HUD and asset management experience Property management experience in affordable housing Proven analytical and problem-solving skillsHighly organized with the ability to multi-task and set prioritiesStrong verbal and written communication skillsSelf-starter and able to work independentlyProficiency in Microsoft Word, Excel and PowerPointMust be willing to travel
Salary to be determined by the education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with market data.
For New York, NY this ranges from $100,000.00 - $130,000.00 plus benefits and retirement program.
Gilbane offers an excellent total compensation package which includes competitive health and welfare benefits and a generous profit-sharing/401k plan. We invest in our employees’ education and have built Gilbane University into a top training organization in the construction industry. Qualified applicants who are offered a position must pass a pre-employment substance abuse test.
Gilbane is an Affirmative Action/Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to age, color, national origin, race, religion, sex, sexual orientation, gender identity, protected veteran status, or disability status.
Note to Recruiters, Placement Agencies, and Similar Organizations: Gilbane does not accept unsolicited resumes from agencies. Please do not forward unsolicited agency resumes to our jobs alias, website, or to any Gilbane employee. Gilbane will not pay fees to any third party agency or firm and will not be responsible for any agency fees associated with unsolicited resumes. Unsolicited resumes received will be considered property of Gilbane and will be processed accordingly.
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