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About the Role

This role offers the opportunity to contribute to the day-to-day asset management of a complex portfolio within the regulated affordable housing sector at LMDP. The asset management team is central to major business decisions, providing significant exposure to senior leadership. We seek a self-starter passionate about affordable housing, eager to build a foundation in real estate asset management with the ambition for growth. The ideal candidate will support strategic thinking while maintaining a high level of detail orientation.

Responsibilities

Manage the day-to-day operations of a diverse portfolio of affordable multifamily assets in NYC.
Monitor and evaluate financial operating results to enhance cash flow and profitability through monthly reviews and data analysis.
Evaluate overall portfolio performance to support strategic business planning and establish benchmarks, guidelines, and policies.
Collaborate with property management to identify challenges and implement effective solutions for budgets, staffing, capital expenditures, and other property programs.
Assist in managing third-party relationships, including Property Managers, Consultants, and Attorneys.
Conduct regular site visits to assess property conditions, capital projects, common areas, vacant units, and personnel issues.
Prepare annual budgets for assigned portfolio assets.
Prepare materials and respond to inquiries from senior leadership and stakeholders regarding property and portfolio performance.
Monitor compliance with regulatory programs for assigned properties and escalate issues with follow-up.
Identify areas requiring performance improvement.
Track market conditions using financial and economic data, including demographics, job growth, and supply trends.
Support the development of financial models for performance tracking and return analysis, including buy/hold and financing evaluations.
Monitor property valuations and identify opportunities for sale or refinancing.
Collaborate with senior team members and the VP on complex deals, with a path towards managing a defined portfolio segment.

Requirements

2-4 years of multifamily asset management experience or equivalent skills in real estate.
Demonstrated self-starter with proactive and resourceful work habits, capable of working with minimal oversight.
Highly responsive with strong follow-through, ensuring priorities are managed effectively.
Ability to escalate issues appropriately through clear communication and consistent follow-up.
Solid understanding of real estate fundamentals, including financing, operations, leasing, and investment basics.
Excellent written and verbal communication skills.
Developing, detail-oriented approach to asset performance with curiosity about underlying trends.
Strong financial modeling skills and proficiency in Microsoft Office Suite, including formula and model manipulation.
Experience with affordable housing programs, such as project-based Section 8, is preferred.
Ability to work in an entrepreneurial environment, manage changing priorities, and meet deadlines.
Strong organizational skills and attention to detail.

Skills

Asset Management
Financial Analysis
Budgeting
Property Operations
Third-Party Management
Site Visits
Regulatory Compliance
Market Analysis
Financial Modeling
Microsoft Office Suite
Communication Skills
Organizational Skills
Attention to Detail

Location

Work Type

Full-time

Experience Level

2-4 years

About the Company

The team sits at the center of our investment management and property management functions, serving as leaders and collaborators across the organization.