Gilbane Development Company is seeking an Asset Manager in New York City to manage the financial performance of assigned portfolio of Afforable/multi-family housing, including oversight of third party fee management and collaboration with developers and resident services managers.
ResponsibilitiesEssential Functions:
Pre-Development Phase
Identify operational issues throughout design/construction/lease-up/stabilization phases of development and work with cross-functional project teams to devise solutionsProvide asset management support to developers and resident services managersAssist in review operating budgets for pipeline projectsReview and provide input on project scope of workReview relocation processes and schedules
Development Phase
Monitor project schedules, tax credit unit delivery, lease-up, initial, annual income certification, and on-going complianceProvide asset management support to developers and resident services managersReview regulatory documentsReview income certification process, lease-up and LIHTC delivery, and occupancy schedulesReview relocation processes and schedules
Operational Phase
Recommend and monitor applicable property level goalsMonitor performance against projections/goals.Meet with property management monthly to track and analyze property performanceReview monthly, quarterly, and annual property financial and compliance reportingAnalyze property financial performance and formulate property level strategies, goals, and policies that will maximize property cash flow and portfolio performanceReporting of applicable requirements to lenders/investors and internal partiesReview regulatory documentsReserve (Replacement, Operating & Residual Receipts) review, approval and coordinationAssist with annual operating budgets and capital plans for portfolioReview and coordinate all PRAC & HAP renewals, as necessaryReal Estate Taxes & Insurance:Real Estate Taxes – ensure all tax exempt and I&E forms are completed on time before deadlines, process invoicesInsurance – ensure renewal applications are completed, process invoices, manage claims and incidentsCoordinate and conduct site inspections to assess the physical condition and property management practicesCoordination of all entity control responsibilities (i.e. State Corporate Commission, DC foreign registrations, etc.)
All Phases
Closing Memo monitoring and update as neededCollaborate effectively with cross-functional teams Perform other duties as assigned Qualifications At least five years of property management and/or affordable housing management experience is required, prefer a minimum of 2 years of experience managing multiple sites and over 100 unitsProficient with Microsoft Office suite including Outlook, Word, Excel and property management softwareKnowledge of fair housing regulations, affordable housing programs, such as LIHTC and Section 8 requiredAble to work on several projects simultaneously, maintaining timelines and accuracyAble to work independently, anticipate problems, and implement effective solutionsRelevant certifications for property management and affordable housingExamples include: LIHTC, HCCP or SHCM Certification as well as CAM and/or Apartment Residential Manager (ARM) certifications
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, New York this ranges from $150,000.00 - $165,000.00 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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