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Job Title Associate
Location: New York
State New York
Date Posted: 19 Apr 2022
Position Description:

This position is responsible for overseeing the performance of residential and commercial assets throughout NYC.  The Associate will also be responsible for financial analysis, budgeting, strategic planning, and assisting with loan origination and on-going loan compliance.  The position involves oversight of retail and professional space leasing, capital project approval and oversight, and quarterly reporting to owners and partners.

Essential Responsibilities:
  • Monitor overall portfolio performance: NOI, cash flow, asset values and progress towards achieving asset strategies, both short term and long term
  • Monitor portfolio to ensure achievement of targeted financial results per approved annual plan; assist in creating annual plan
  • Participate in weekly review with Property Management team including Operations, Leasing, Marketing, and Revenue Management to review and approve pricing, renovations and other capital improvement projects, and various issues and initiatives at the property level as needed
  • Report on and develop strategies for property operations to maximize asset values
  • Prepare periodic internal reports (monthly financial reporting internally, quarterly financial reporting for owners) and respond to information requests from senior management and other financial stakeholders, including partners and lenders
  • Assume responsibility for close-out of development deals, including loan and leasing issues
  • Secure approval on leases, including providing required data and discussing details with lenders

  • Help manage commercial leases with external brokers including review and negotiation of LOIs, calculation of escalations and recoveries, and coordination with property team to ensure deliverable condition of spaces


  • Track and review residential and commercial arrears and coordinate with relevant parties; assure that deferrals and percentage rent agreements are being honored and amended/extended/terminated as needed
  • Proactively establish and maintain visibility and relationships among industry organizations, e.g., Urban Land Institute, including establishing a network with peers, competitors, and vendors
  • Thoroughly understand the dynamics of the portfolio, including market characteristics and trends


  • Review, approve, and assist in the preparation of annual budgets for all retail and multifamily assets within the portfolio
  • Measure and monitor asset performance against a variety of benchmarks including company objectives, Pro-forma metrics, budget, and market comparables, return on invested capital, etc.
  • Assist in asset financings and/or dispositions, as needed, including gathering all required due diligence items
  • Work closely with property managers to improve operating efficiency and to control operating expenditures
  • Assess risks associated with current assets, including sale and/or bankruptcy risk
  • Travel to property sites on both a regular and as-needed basis to perform inspections, evaluate performance and ensure accountability of on-site management teams

Perform other duties as assigned including ad-hoc analyses and assisting in interdepartmental tasks and projects

Qualifications and Competencies:
  • Minimum of 3 years of hands-on commercial and/or residential real estate experience preferred in one or more of the following disciplines: asset management, acquisitions, underwriting, appraisal, financial analysis or property management


  • Experience with retail and commercial leasing a plus
  • Detail oriented and organized
  • Excellent written and verbal communication skills
  • Ability to interact effectively with all team members and external stakeholders
  • Strong financial background with knowledge of real estate and real estate proformas
  • Broad understanding of the operational and investment fundamentals of residential and commercial real estate


  • Highly computer literate and proficient in Microsoft Suite and preferably familiar with MRI    
  • Analytically and strategically minded
  • Results driven and growth oriented
  • Ability to think and act strategically with experience analyzing investment decisions
  • Negotiation, analytical and interpersonal skills are essential
  • Self-motivated with the ability to work independently is essential
  • Background in reviewing and analyzing financial reports and communicating results
  • Ability to make recommendations to senior management in an objective and logical manner
  • Experience evaluating competitive market information


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