Asset Manager, Multifamily Rental Portfolio

City of New York•New York City, NY

About The Position

As an asset Manager in the Multifamily Rental Portfolio within the Division of Asset Management, you will be responsible for overseeing a portfolio of more than 10,000 units of affordable rental housing. In this role, you will work directly with property owners and other partners to ensure that properties remain affordable and are maintained in both sound financial and physical condition. Additionally, you will play a critical role in identifying properties that may require enforcement actions or additional assistance from the City. Your role will be to work directly with property owners and internal and external partners to promote and ensure the responsible ownership of a portfolio of affordable rental housing projects.

Requirements

A baccalaureate degree from an accredited college and two years of experience in community work or community centered activities in an area related to the duties described above; or
High school graduation or equivalent and six years of experience in community work or community centered activities in an area related to the duties as described above; or
Education and/or experience which is equivalent to "1" or "2" above. However, all candidates must have at least one year of experience as described in "1" above.

Nice To Haves

Must be curious, motivated, and work well independently
Excellent written and verbal communication skills
Strong analytical and research skills
Experience with financial analysis
Experience reading legal documents
A background in affordable housing, asset / property management, or auditing / accounting skills preferred
Experience with Excel

Responsibilities

Work with the unit’s third-party data management system to collect and record requisite project documents
Work with property owners to monitor and analyze financial statements, municipal arrears information, reports on building conditions, and other information to assess project financial and physical health
Review regulatory agreements, mortgages and other legal documents to determine project compliance obligations
Review periodic risk ratings reports and other available data to monitor and prioritize working with at-risk or distressed projects
Work with property owners to manage the intake of inquiries from developers and property managers
Review and facilitate capital and operating reserve withdrawal requests to ensure property owners are using their reserves effectively and appropriately to promote healthy, sustainable, and affordable properties
Recommend and pursue corrective actions for properties with poor health or compliance issues.
Work closely with internal and external partners to develop plans to correct comprehensive poor performance or compliance issues
Assist and/or facilitate a variety of real estate transactions that may arise within your portfolio (e.g. mortgage confirmations, satisfactions, subordinations, and property sales and transfers)
Work on special projects as needed