Vice President, Asset Management, Multifamily

Job Description

Job Description

COMPANY OVERVIEW:

The Lightstone Group, LLC, or Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 27 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With nearly $12 billion in assets under management, Lightstone’s portfolio currently includes over 15 million square feet of industrial, logistics, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys.

Vice President, Asset Management – Multifamily

POSITION OVERVIEW

Lightstone is seeking a Vice President, Asset Management – Multifamily to oversee and drive performance across Lightstone’s third party managed national portfolio of approximately 8,500 Class A and B multifamily units. This individual will play a critical leadership role in executing asset-level business plans, optimizing operating performance, and maximizing investment returns across the portfolio.

The role requires a highly analytical and strategic professional with deep experience across multifamily investments and operations, managing third-party property managers, driving revenue and expense performance, and collaborating closely with Acquisitions and Debt teams. The Vice President will act as a key bridge between ownership and operations, ensuring alignment of investment strategy with on-the-ground execution.

The role will also play a key role in reviewing new equity and debt investment opportunities, overseeing acquisition due diligence and closing process.

The role will report to the Senior Vice President of Multifamily Asset Management and Investments. 

ESSENTIAL FUNCTIONS

• Oversee asset management of a national multifamily portfolio (~8,500 units) , including Class A and B assets across multiple markets 
• Manage and oversee third-party property management companies ensuring accountability on:
  • Leasing performance and occupancy 
  • Revenue management and pricing strategy 
  • Operating expenses and NOI growth 
  • Capex execution, including unit renovations and capital projects
• Develop and execute asset-level business plans, including value-add strategies, repositioning initiatives, and long-term hold/sell decisions 
• Conduct regular performance reviews, including:
  • Monthly and quarterly financial analysis 
  • Variance reporting vs. budget and underwriting 
  • KPI tracking (rent growth, occupancy, concessions, turnover, etc.) 
• Lead budgeting and reforecasting processes in partnership with property management and finance teams 
• Monitor market and submarket performance for macro/ micro investment and operating trends 
• Maintain knowledge of investment and valuation trends
• Partner with Acquisitions team on:
  • Underwriting new investments 
  • Investment committee materials 
  • Market and asset-level due diligence 
  • Transition and onboarding of newly acquired assets 
• Support financing initiatives, including lender reporting and refinancing execution 
• Oversee capital expenditure planning, ensuring ROI-driven deployment of capital 
• Conduct frequent site visits and property inspections to ensure alignment with business plans and identify operational improvements 
• Prepare and present investment memos and portfolio updates to senior leadership 
• Mentor and manage junior asset management and analyst team members, fostering a high-performance, analytical culture 

QUALIFICATIONS

• 10–15+ years of experience in multifamily asset management, real estate private equity, or related investment roles 
• Proven experience overseeing institutional-quality multifamily portfolios, including both Class A and B assets 
• Strong track record of managing third-party property   managers and driving operational performance 
• Experience with acquisitions, underwriting, and investment analysis 
• Advanced financial modeling and analytical skills (Excel proficiency required) 
• Familiarity with property management systems (Yardi, MRI, etc.) 
• Strong understanding of revenue management, leasing strategy, and expense optimization 
• Experience with capital projects / value-add execution 
• Excellent communication and presentation skills, with ability to interface with senior leadership and external partners 
• Ability to operate in a fast-paced, entrepreneurial environment and manage multiple assets and priorities 
• Ability to travel on a regular basis to drive asset performance and evaluate new investments 

PREFERRED QUALIFICATIONS

• Experience working with or overseeing national portfolios across multiple markets 
• Background in real estate private equity or institutional investment platforms 
• Exposure to development or redevelopment projects 

Offered salary commensurate with experience, $260k - $290k base plus discretionary bonus

Lightstone offers our employees a comprehensive and competitive benefits program inclusive of:

– Paid time off for vacation and sick leave
– Health, dental, and vision insurance, and wellness programs
– 401(k) and Roth retirement plans
– Flexible spending accounts (medical & dependent care)
– Life and AD&D insurance with options for supplemental employee, spouse, and child
– Long-term and short-term disability insurance
– Commuter spending accounts (transit and parking)
– Tuition assistance and employee assistance program
– Corporate discount programs
– On-site mother’s room
– Office perks such as lunch, fruit, drinks, and snacks