Associate, Asset Management

Responsibilities This position supports the asset management function overseeing a portfolio of New York City luxury residential properties. Reporting to the Senior Vice President of Asset Management, the Associate will play a hands‑on role in monitoring asset performance, maintaining financial models, and supporting strategic initiatives across the portfolio. The ideal candidate brings strong analytical capabilities, a detail‑oriented work ethic, and a genuine interest in building a foundation in institutional real estate. For the right candidate, particularly those with demonstrated aptitude or an existing familiarity with the portfolio, this role may be structured at the Senior Associate level. We’ll trust you to: Develop and maintain annual asset strategies in coordination with the budgeting process, ensuring alignment with portfolio objectives. Track asset performance against budget and strategy; flag variances and support corrective action as needed. Review monthly variance reports and provide constructive, well‑reasoned feedback to property management. Maintain asset management models for assigned properties, ensuring accuracy and currency of financial projections. Generate performance reports incorporating 12 months of actuals and rolling reforecasts for any asset identified as at risk. Monitor loan covenants, escrow balances, and reserve requirements to ensure ongoing compliance. Track and understand real estate tax assessments and insurance obligations across the portfolio. Collaborate with property management to develop five‑year accretive capital plans for each assigned asset. Conduct return analysis on accretive capital projects in partnership with property management teams. Monitor active capital projects, tracking progress against budget and assessing timing of cash flow impact. Draft investor and lender reporting in response to inquiries regarding asset performance and financial position. Maintain ongoing awareness of market conditions, emerging trends, and the competitive landscape within NYC luxury residential. Support refinancing processes, disposition analyses, and asset repositioning initiatives as directed. Compensation The anticipated base salary range for this position is $110,000 – $145,000. In addition to a competitive base salary, you will be eligible to receive discretionary bonus incentives and a comprehensive benefits package. Actual base salary within the anticipated range will be determined by several components including but not limited to the individual's experience, skills, qualifications, and market factors. Qualifications You’ll need to have: 3 to 5 years of relevant experience in real estate, with exposure to asset management, acquisitions, finance, or a related discipline. Working knowledge of the New York City real estate market, ideally including luxury residential or institutional multifamily. Strong financial modeling skills with proficiency in Excel; familiarity with Argus is a plus. A detail‑oriented, analytical approach and demonstrated ability to manage multiple workstreams with accuracy and consistency. Clear written and verbal communication skills, including the ability to synthesize financial information for varied audiences. A proactive, ownership‑oriented mindset with the initiative to identify issues and surface solutions. Ability to collaborate effectively across internal teams including Finance, Development, and Property Management. Bachelor’s degree required; coursework or concentration in real estate, finance, economics, or a related field preferred. Equal Opportunity Statement We are proud to be an equal opportunity employer and are deliberate about the team and culture we are building. We aim to ensure competitive total compensation that is commensurate with experience, workplace geography, and market standards. #J-18808-Ljbffr RELATED