Director, Recoveries (New York)

About Us

Perform Properties is a Blackstone Real Estate portfolio company focused on high‑performing retail and office properties with people‑appeal - vibrant spaces where people actively choose to work, shop, and gather. With expertise in transactions, development, leasing, and management, we oversee approximately 30 million square feet of properties across the U.S.

Our culture is built on our OneTeam foundation - a shared commitment to collaboration, innovation, and knowledge sharing across roles, teams, and time zones. Guided by this foundation, our OneTeam Core Values define how we show up every day:

· Act with Intention

· Make It Happen

· Raise the Bar

· Stay Curious

· Win as One

Join a team where performance and partnership go hand in hand.

Job Summary

The Director of Recoveries is a senior finance leader responsible for maximizing the recovery, accuracy, and sustainability of tenant reimbursements across a national office and retail portfolio, responsible for overseeing and managing all aspects of tenant recovery operations. This role has authority to design recovery strategies, recommend and influence lease language, establish recoverability policies, direct tenant audit procedures, and oversee tenant audit outcomes, and make judgment-based collectability decisions

The role operates with a high degree of autonomy and serves as the point of accountability for tenant recovery governance, partnering closely with Portfolio and Asset Management, Leasing, Legal, Accounting, and Property Management

Essential Job Functions

Recovery Strategy & Governance

• Own and continuously refine the comprehensive recovery strategies and initiatives across office and retail assets, to maximize portfolio cost recovery and revenue generation
• Design, implement, and maintain formal recovery policies: recoverable vs. nonrecoverable cost definitions, allocation methodologies, administrative and indirect cost recoverability, and capital and CIP recoverability frameworks
• Establish consistent standards that balance lease compliance, audit defensibility, tenant relationships, and long-term NOI optimization; stay informed about market conditions and industry benchmarks to assess and enhance the competitiveness of recovery strategies
• Serve as a strategic partner to Leasing on deal structure and negotiations, Legal on lease interpretation and dispute resolution, Lease Administration and Accounting on acquisitions and new lease recovery pool system setup, Property Management on operational execution and documentation, and Asset Management on value creation and tenant strategy
• Collaborate with People & Culture/Learning & Development to provide training and guidance to internal teams on recoverability principles and best practices

Expertise & Authority

• Act as finance authority on lease recoverability provisions including operating expense definitions, exclusions and caps, gross-ups and base year mechanics, audit rights and limitations; focus on maximizing revenue
• Partner with Leasing and Legal to recommend and approve standard recovery language for new leases, renewals, and amendments and evaluate proposed lease concessions or recoverability changes and advise on financial and long-term implications
• Partner with Portfolio Management and Data & Research to evaluate market rates for recoveries across the portfolio
• Lead or participate in special projects and initiatives related to tenant recovery operations, such as process automation, system implementations, or policy enhancements
• Develop and maintain strong relationships with external partners to support recovery efforts

Collectability & Decision Rights

• Lead tenant-specific and portfolio-level recovery billing collectability assessments
• Own and oversee all tenant audit activity:
• Audit intake, coordination, and response strategy
• Direct tenant recovery teams (in-house, affiliate, offshore); manage information exchange
• Review and recommend approval of audit findings, settlements, and adjustments
• Trend analysis and root-cause remediation
• Serve as the internal authority on audit outcomes and escalation decisions
• Monitor recovery trends and lead the review and analysis of lease agreements, CAM pool setups, and tenant accounts to identify recovery opportunities
• Use audit insights to improve future lease language, billing, and controls; develop and oversee resulting projects

Controls, Reporting, & Analytics

• Establish and monitor internal controls over recovery calculations, billings, and adjustments; ensure accuracy and compliance with company policies, lease terms, and industry best practices
• Develop reporting and dashboards for recovery rates and leakage, audit exposure and outcomes, tenant dispute trends, portfolio-level risk indicators; communicate results, insights, and recommendations across senior leadership teams to support decision-making and revenue optimization.
• Work in lock step with Accounting and FP&A leadership, property accounting, lease administration, and property operations to ensure recoveries are accurately recorded in NOI, accruals, and system setup, and financial reporting

Qualifications and Technical Competencies

• Bachelor's degree (accounting or similar field)
• Minimum of 10 years of experience in commercial real estate finance, tenant recoveries/CAM, property accounting, audit, or portfolio operations
• Deep experience across office and/or retail asset classes
• Demonstrated success handling complex tenant audits and high-value disputes
• 5+ years of supervisory experience
• Expert knowledge of commercial lease structures and recoverability provisions; CAM, operating expense, and tax, insurance, management fee recoveries; GAAP considerations affecting NOI and recoveries
• Strong judgement in balancing technical compliance with practical business outcomes
• Proven ability to operate with independent authority and sound discretion
• Comfort making recommendations that influence lease negotiations, financial reporting outcomes, tenant relationship strategy

Benefits & Compensation

Benefits: The Company provides a variety of benefits to employees, including health insurance coverage, retirement savings plan, paid holidays and paid time off (PTO).

Base Salary Range: $150,000-$200,000. This represents the presently-anticipated low and high end of the Company’s base salary range for this position. Actual base salary range may vary based on various factors, including but not limited to location and experience.

The additional total direct compensation and benefits described above are subject to the terms and conditions of any governing plans, policies, practices, agreements, or other materials or documents as in effect from time to time, including but not limited to terms and conditions regarding eligibility

EEO Statement

The Company is an equal opportunity employer. In accordance with applicable law, we prohibit discrimination against any applicant, employee, or other covered person based on any legally recognized basis, including, but not limited to: veteran status, uniformed servicemember status, race, color, caste, immigration status, religion, religious creed (including religious dress and grooming practices), sex, gender, gender expression, gender identity, marital status, sexual orientation, pregnancy (including childbirth, lactation or related medical conditions), age, national origin or ancestry, citizenship, physical or mental disability, genetic information (including testing and characteristics), protected leave status, domestic violence victim status, or any other consideration protected by federal, state or local law. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email View email address on apply.placed-app.com.