Asset Manager

Overview

The Asset Manager, Asset Management is responsible for assisting in implementing strategies that will maximize the financial performance and value of the NYC-based Pennrose Properties portfolio. The Asset Manager, Asset Management will also be responsible for monitoring the physical and financial condition of the NYC-based Pennrose Properties owned assets. The Asset Manager, Asset Management reports to the VP of Asset Management, and works out of the NYC regional office.

Pay range: $100,000 - $105,000/year depending on experience.

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Responsibilities

Duties and Responsibilities

• Oversight of third-party property management companies' performance at NYC-based Pennrose Properties portfolio, including all investor and agency reporting
• Responsible for the aggregation and reporting of property level financial performance and budgets; Conduct variance analysis at the property level
• Oversight of annual budgeting process for assigned properties
• Responsible for analyzing and measuring property financial and operating metrics and providing recommendations to the VP, Asset Management to improve performance
• Assist in the monitoring of the physical condition of the NYC portfolio through weekly site visits; ability to work with operations teams on the site level
• Attend tenant, stakeholder and Community Board meetings, as necessary
• Interface with representatives of elected officials offices, as necessary
• Read and interpret agreements, loan documents and other compliance related documents
• Understand and analyze investment models and forecasts
• Oversight of cash flow forecasting, as necessary
• Special Projects, as required

Performance Metrics

• Contribute to the increase in profitability of the NYC-based Pennrose owned properties
• Timely and accurate production of financial and analysis reports
• Positive feedback from internal and external stakeholders

Qualifications

Required Education and Experience

• Bachelor's degree in accounting, finance or real estate preferred
• 3-5 years multifamily real estate/financial analysis experience; Affordable Housing sector experience highly desirable
• Knowledge and experience with the Low-Income Housing Tax Credit Program gained from asset management, operations or development work experience a plus
• Knowledge and experience other affordable housing programs centered on HUD, Rental Assistance Demonstration (RAD), public housing and other programs which support affordable housing a plus
• Working knowledge of NYC-based agencies including: NYC Housing Authority (NYCHA); Housing Preservation and Development (HPD); and Housing Development Corporation (HDC)
• Familiarity with NYC Community Board (CB) structure; Brooklyn CB4 experience a plus
• Yardi experience a plus
• Ability to learn quickly and desire to constantly learn about the complexities of the affordable housing business
• Ability to multi-task and run projects simultaneously
• Proven professional communication abilities to interface with a broad array of employees and housing partners

Knowledge, Skills and Abilities

• Strong analytical skills, both quantitative and qualitative
• Must be able to compile, monitor, examine various financial and performance reports
• Ability to provide recommendations for changes or improvements to current processes
• Excellent verbal and written communications skills to present to and work with senior management and ownership
• Advanced Microsoft Excel; Strong Word, PowerPoint and Outlook skills
• Strong work ethic, attention to detail, and commitment to meeting deadlines
• Experience with accessing information from a GL Accounting System, Yardi preferred

Additional Requirements

• Requires the ability to travel
• Valid driver's license required