Director of Asset Management

Overview

Gilbane Development Company is a leading provider and developer of affordable and mixed-income housing in the greater New York City region, with a significant development / acquisitions pipeline planned for the next five years. We are committed to preserving and expanding quality affordable housing opportunities for New Yorkers while ensuring the long-term financial sustainability of our portfolio. We are currently looking to hire a Director of Asset Management who will serve as the local development partner for Gilbane in a major metropolitan area. The Director is the representative of the Company responsible for contacting, meeting, and establishing new business relationships and opportunities for the purpose of identifying and structuring market rate multifamily transactions. The assignment will involve establishing and maintaining a marketing and sales plan to identify and secure development opportunities within the targeted geographic region. 

The Director of Asset Management for the New York Region will be the key player in optimizing the performance of our affordable housing portfolio. Reporting directly to the Head of Asset Management, this position will oversee a team of Asset Managers while also maintaining direct asset management responsibilities for several key properties. The ideal candidate will combine strategic vision with operational expertise to maximize the value and impact of our housing portfolio.

Responsibilities

Leadership

• Lead, mentor, and develop a team of Asset Managers, establishing clear performance objectives and promoting professional growth
• Foster a collaborative team culture focused on excellence in affordable housing asset management
• Participate in senior leadership discussions to develop and implement strategic initiatives

 Portfolio Oversight & Performance

• Monitor financial performance of assigned properties, including budget preparation, variance analysis, and financial reporting
• Oversee property operations to ensure compliance with regulatory agreements, funding requirements, and company standards
• Implement strategic initiatives to improve NOI, reduce expenses, and enhance asset value
• Collaborate with development teams on underwriting new projects
• Develop and execute capital improvement plans to maintain and enhance property conditions
• Ensure timely and accurate financial reporting for all properties

 Stakeholder Relations

• Serve as primary liaison with property management teams, ensuring operational excellence
• Build and maintain strong relationships with government agencies, financing partners, and community stakeholders
• Partner with compliance and resident services teams to ensure holistic approach to asset management

 Strategic Planning

• Participate in long-term strategic planning for the portfolio, including refinancing, recapitalization, and repositioning opportunities
• Identify and implement best practices in affordable housing asset management
• Stay informed of industry trends, regulatory changes, and market conditions affecting affordable housing
• Contribute to the development of company-wide asset management policies and procedures

Qualifications

EDUCATION/EXPERIENCE

• Bachelors or Masters degree in Real Estate, Business, Finance, Marketing, Civil Engineering, Architecture, or related field
• Minimum of 7 years’ experience (or 5 years + MBA) with increasing levels of responsibility and proven success in real estate development transaction structuring

KNOWLEDGE, SKILLS & ABILITIES

• Demonstrated ability to complete multifamily development transactions in a supporting or leading role
• Large network among real estate professionals within the region
• Excellent communication skills, both verbal and written
• Strong understanding of affordable housing finance structures (LIHTC, Section 8, etc.) and regulatory compliance requirements
• Experience overseeing project-based Section 8 properties and driving NOI growth through expense / REAC management, mark ups to market, and creative use of tax abatements
• Exceptional financial analysis skills, including budget development and variance analysis
• Outstanding written and verbal communication skills, with ability to communicate effectively with diverse stakeholders
• Proficiency with property management software and Microsoft Office suite
• Strong problem-solving abilities and attention to detail
• Experience managing affordable housing in New York City
• Knowledge of HUD, HPD, HDC, and HFA programs and requirements
• Experience with tax credit compliance and reporting

Salary to be determined by the education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with market data.    For New York City this ranges from $225,000- $300,000 plus benefits and retirement program.

Gilbane offers an excellent total compensation package which includes competitive health and welfare benefits and a generous profit-sharing/401k plan. We invest in our employees’ education and have built Gilbane University into a top training organization in the construction industry. Qualified applicants who are offered a position must pass a pre-employment substance abuse test.

Gilbane is an Affirmative Action/Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to age, color, national origin, race, religion, sex, sexual orientation, gender identity, protected veteran status, or disability status.

Note to Recruiters, Placement Agencies, and Similar Organizations: Gilbane does not accept unsolicited resumes from agencies. Please do not forward unsolicited agency resumes to our jobs alias, website, or to any Gilbane employee. Gilbane will not pay fees to any third party agency or firm and will not be responsible for any agency fees associated with unsolicited resumes. Unsolicited resumes received will be considered property of Gilbane and will be processed accordingly.