AVP of Asset Management - Affordable Housing

SCI, the Leader in Real Estate Executive Search®, is seeking an AVP of Asset Management for a national, New York City–based real estate firm focused on affordable and workforce housing, with a track record of transacting on more than 20,000 units. Reporting to senior management, the AVP will help ensure that strategic asset business plans are executed in line with company policies. This role is based in the Midtown NYC office on a hybrid schedule (3 days in / 2 days out) The AVP will play a central role in the oversight and performance of properties heading to construction, under renovation, or in lease-up. Working closely with the internal Development Group and Property Management, the AVP will ensure each property performs to projections through permanent conversion. Responsibilities Provide strategic direction to third-party property management companies and relocation and lease-up teams, with the goal of achieving qualified occupancy and the NOI projections required by local agencies, lenders, investors, regulators, and other stakeholders. Lead the overall property budget process and temporary tenant relocation, including capital repair projects, and play a key role in the year-end process with auditors, management companies, and the Finance Group. Track monthly financial performance, lease-ups, and tax credit file progress, identifying any issues that may adversely affect property operations. Hold property management companies accountable to key metrics, including rent collection, occupancy, security, operating-expense trends, cash–AP analysis, and NOI maximization. Review and interpret financial reports, operating agreements, and closing documents. Proactively identify issues and trends and keep stakeholders informed. Act as Owner's Representative on property fire claims, repairs, tenant needs, and all matters required to close out claims. Review closing documents (LPAs, loan agreements, underwriting, operating agreements, etc.) to confirm compliance requirements are met, partnering with internal and external parties to ensure compliance. Identify opportunities to improve data management and reporting. Conduct regular site visits to assess operations and meet with local officials and residents. Requirements Bachelor's degree, preferably in Real Estate, Finance, or Business; advanced degree a plus. 5+ years of affordable housing asset management experience, including LIHTC (Section 42), project-based Section 8, REAC/OCAF, URA, and income limits. HUD experience and familiarity with leading the budget process strongly preferred. Advanced financial analysis skills, with working knowledge of corporate finance, accounting, and valuation methodologies. Hands-on, ownership-driven approach with a track record of turning around underperforming assets and leading teams. Strong analytical, organizational, and problem-solving skills, with the ability to summarize issues and recommend solutions to the SVP of Asset Management. Ability to prioritize, meet deadlines, and maintain composure and effectiveness under pressure and shifting targets. Proficiency with Microsoft Office, with advanced Excel skills. Excellent written and verbal communication skills. Self-motivated, detail-oriented, and able to multitask in a deadline-driven environment. Willingness to travel approximately 20%, including overnight travel. #J-18808-Ljbffr Specialty Consultants Inc.