Vice President, Asset Manager, Commercial and Multifamily

Req Number: FI997
Location: New York City New York
Posted: 5/19/2021
Category: Financial : Real Estate
Job Type: Permanent

Our client is a 30-plus year old vertically integrated real estate investment and management firm that invests in diverse office, retail and multifamily properties across the United States. The Vice President, Asset Management - Multifamily and Commercial is newly created role and the successful candidate will be a key player on the broader Asset Management team which oversees the Asset Management for the company’s direct equity, preferred equity, and debt portfolio investments.

The Vice President, Asset Management – Multifamily and Commercial will join the team working closely with all of the company’s functional areas and with particular focus on Property Management and Commercial Leasing related to Commercial and Multifamily assets.

The firm’s continued growth is directly related to identifying, evaluating and retaining the industry's best people with special emphasis on attracting people who ascribe to the values of honesty, integrity and transparency all of which is consistent with the company’s culture.


The Vice President, Asset Management – Multifamily and Commercial will work closely with all of the firm’s various functional areas with particular emphasis on Property Management and Commercial Leasing. The Asset Manager will take ownership for a property portfolio in multiple U.S. markets and over time will take on responsibilities in additional markets as the business continues to grow. The successful candidate will enjoy high visibility across the executive management team.

Qualified candidates must have in-depth knowledge of strategic planning in a multifamily and commercial real estate context, commercial and multifamily asset and property management, finance, accounting, real estate transactions, macroeconomics and marketing. S/he will be working in a rapidly growing, dynamic, and collaborative environment with responsibility for continually representing the owners’ financial interest through the entire investment cycle.

The Vice President, Asset Management will be responsible for managing all phases of the asset management process for an assigned portfolio of properties. Over the entire life-cycle for each investment, s/he will work closely with the Property Management team, third party agents and consultants to ensure that each asset meets acquisition proforma objectives, key business plan elements, capital improvement deadlines and overall investor goals.

The Asset Manager will oversee individual properties as well as portfolios that consist of multiple properties. The person in this role will also be required to assist with and/or lead projects to enhance performance across the entire Commercial and Multifamily portfolio.

Among the position’s responsibilities, the VP, Asset Management will also work closely with the Acquisitions team on due diligence and the formulation of business plans for new investments, assist the Acquisitions team with asset dispositions and manage complex real estate issues for the portfolio as they arise (i.e., commercial leasing, real estate tax appeals, counter-party negotiations under various easement, condominium, and association agreements, periodic entitlement or zoning issues with public agencies, complex environmental close-out negotiations, etc.).

Responsibilities of the VP Asset Management – Commercial and Multifamily include the following:

• Work collaboratively with the Transactions, Property Management, and Investor Relation teams on new acquisitions. Participate directly in development of strategic business plans for new investments and be responsible for the asset management elements of the acquisition process including vetting and signoff on all operating and capital improvement underwriting assumptions, developing scope of work for renovation and capital improvement projects, establishing target rent and operating expense levels, finalizing operational and capital budgets, documenting operational plans and investment goals/objectives, and on-boarding new acquisitions into the portfolio.

• Review weekly and monthly property data for owned properties including leasing reports, traffic reports, construction progress reports, and aged delinquencies, etc., and work with Property Management and third party agents to improve operational performance. Identify and troubleshoot issues relating to commercial leasing, occupancy and turnover, opportunities to improve rents and implement other income initiatives, controlling expenses, strategic oversight of capital improvement programs, and addressing renovation program challenges including leasing issues, scope of work, rent premiums, excess turn times, etc. Oversee real estate tax appeal issues. Stay abreast of micro, local, and regional market trends and meet or exceed market-based performance benchmarks.

• Monitor, review, and evaluate financial operating results and work with Property Management to implement changes as needed to enhance asset value, cash flow, and profitability. Manage capital improvement and other reserve balances. Ensure that quarterly and annual cash distribution targets to investors are met.

• Conduct site visits on a regular basis and meet with Property Management and third party agents to review and assess operations, leasing, capital improvement programs, and property physical condition.

• Manage the annual budget review and approval process for the assigned portfolio and for new acquisitions.

• Ensure regulatory and lender compliance requirements, working with Property Management and the finance team, implement initiatives as needed to ensure compliance.

• Support the Transactions team on dispositions and re-financings. Participate in sell/hold/refinance decision making, assist with review of broker BOVs and capital transaction analysis, and monitor/address operations during the sale/refinancing process to ensure a successful outcome.

• Effectively present information to and respond to questions from groups of executives, investors, lenders, and partners.


The ideal candidate is a capable leader and will possess the following experiences and attributes:

• A minimum of 7-15 years of direct commercial and multifamily asset management experience with demonstrated experience asset-managing a portfolio of assets in multiple US markets.

• Direct experience managing commercial leasing initiatives including oversight of third party brokers and negotiating letters of intent and leases for office and retail properties.

• Extensive working knowledge of commercial real estate concepts including lease analysis, CAM reconciliations, and Argus modeling.

• Strong knowledge of US real estate markets.

• Strong analytical and problem-solving skills, with a demonstrated track record of providing creative and innovative solutions to real-time challenges.

• An investment mindset with a thorough understanding of financial calculations/metrics and analytical skills. Must be well-versed in project proformas and understanding deals, and able to articulate, both orally and in written form, the case for a specific project. Should have both an intuitive and a detailed sense of the dynamics, risks, and financing/capital structure of each transaction.

• Proficiency with Word, Excel, Argus, and MRI a plus.

• Strong written and verbal communication skills, presentation skills, and negotiation skills.

• Sound decision making ability with the solid experience to balance consensus against authority as appropriate.

• A team player with strong leadership skills who can operate effectively within a matrix management environment.

• Excellent organizational and time management skills. Ability to provide clear direction and balance competing priorities. Able to work with time sensitive, detail-oriented material and meet multiple deadlines across various markets. Experience managing multiple projects successfully through constantly changing priorities.

• The ability to travel frequently, i.e., 30%-50% travel – we are open to discuss expectations during current times.


• The successful candidate will have a strong academic background with an BA/BS degree.

• MBA or a Master’s in Real Estate or other relevant disciplines is preferred.


We are prepared to offer a market-competitive compensation package, which will include a base salary and incentive bonus structure.


Prefer candidates located in New York, Mid-Atlantic| DC and Baltimore and Norfolk VA. Remote work may also be considered for individuals currently residing in other Northeast metro areas – e. g. Philadelphia and Boston.