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About the Role

The Division of Preservation Finance seeks a Project Manager for its Federally Assisted Portfolio Preservation Programs. This role is crucial for managing the intake, assessment, and underwriting of capitally funded projects applying for financing and/or tax benefits, and guiding them through to closing. The Project Manager will interact with various stakeholders including HUD, NYC Housing Development Corporation, developers, sponsors, and lenders to facilitate project completion and loan conversion.

Responsibilities

Perform general project management duties for capitally funded preservation transactions, including acquisitions, construction loan closings, troubleshooting, project completion, and loan conversions.
Review and analyze mortgage notes, regulatory agreements, and other related documents, applying relevant regulations.
Conduct financial modeling, focusing on affordability analysis, real estate tax benefit analysis, and cash flow projections using Excel.
Review legal documents and coordinate loan closings with other HPD divisions and programs.
Ensure timely completion of transactions.
Review, analyze, and comment on underwriting and preservation proposals, making recommendations to senior staff and facilitating approvals.
Produce detailed reports, memoranda, presentations, and correspondence regarding projects and programs.
Engage in programmatic policy discussions and provide recommendations.
Act as a liaison with developers, financial institutions, community groups, and governmental agencies to preserve affordable housing.

Requirements

A baccalaureate degree from an accredited college and two years of experience in community work or community-centered activities related to the duties described.
High school graduation or equivalent and six years of experience in community work or community-centered activities related to the duties described.
Education and/or experience equivalent to the above, with at least one year of experience as described in the first point.

Skills

Strong financial analysis skills
Financial modeling in Excel
Financial statement analysis
Detail-oriented
Self-motivated
Ability to manage multiple projects and meet competing deadlines
Strong verbal and written communication skills
Strong financial background (including underwriting experience)
Knowledge of affordable housing development/lending
Knowledge of HPD development programs
Demonstrated analytical skills
Ability to work effectively with others to obtain results promptly
Strong facility with Excel and Word

Location

New York City

Work Type

Full-time

Experience Level

2 years of experience in community work or community-centered activities
6 years of experience in community work or community-centered activities

Education Level

Baccalaureate degree
High school graduation or equivalent

Salary/Compensations

USD 62868 - USD 77500

About the Company

The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods.
HPD maintains building and resident safety and health, creates opportunities through housing affordability, and engages New Yorkers to build and sustain neighborhood strength and diversity.
HPD is implementing "Housing Our Neighbors: A Blueprint for Housing and Homelessness," with a $5 billion new capital funding commitment, the largest in the city’s history.
The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing.
The Division of Preservation Finance administers multiple financing programs to facilitate the financial and physical viability, as well as affordability of privately-owned multi-family and single-family buildings throughout New York City.

Equal Opportunity

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.