Asset Management Associate - Multifamily and Commercial

We are seeking an Asset Management Associate to join our New York team and support a growing portfolio of distressed real estate assets across multiple asset classes. The role spans rent-regulated and affordable multifamily, office, retail, and mixed-use properties, with exposure to receiverships and lender-directed engagements. The portfolio is predominantly multifamily.

This is a hands-on role with direct responsibility for property performance, operations, reporting, and analysis across a defined portion of the portfolio. In-house counsel supports legal and procedural matters, allowing the Associate to focus on execution.

The portfolio includes NYC multifamily assets ranging from rent-stabilized walk-ups and elevator buildings to larger mixed-rent properties, alongside Manhattan and metro-NY office, retail, and mixed-use assets — many in active receivership or workout. The Associate will support portfolio-level performance across both asset classes, including operations, regulatory matters, capital projects, and business plans.

This role is best suited to a candidate with three to five years of hands-on NYC operating experience who is ready to move from managing buildings to managing capital, and who wants broader responsibility, exposure to challenging assets, and close access to senior leadership.

Responsibilities

• Support the development and execution of asset business plans across multifamily and commercial assets, covering operations, capital strategy, stabilization, and transition.
• Drive day-to-day portfolio performance through reporting, operations, maintenance, and tenant experience.
• Oversee third-party residential and commercial property managers across collections, vacancy, turnover, compliance, and capital execution.
• Support transitions tied to receiverships and other engagements, including manager changes and onboarding.
• Manage residential leasing and renewals across mixed rent rolls; support commercial leasing and renewals on office and retail assets, including coordination with brokers and tenant-improvement work.
• Maintain compliance with rent stabilization, affordable housing programs, and regulatory agreements, including DHCR registrations and recertifications.
• Track and resolve violations across DOB, HPD, ECB/OATH, DEP, and FDNY, coordinating inspections, certifications, corrections, and dismissals.
• Monitor NYC Local Law compliance obligations and deadlines, including Local Law 11/FISP, Local Law 97, Local Laws 84 and 88, Local Law 152, and Local Law 126.
• Monitor tax abatements and burn-off timelines, including 421-a, 421-g, and J-51; support tax grievances on commercial assets where appropriate.
• Support capital projects across both asset classes, including façade work, Local Law 11, DOB and HPD violations, building systems work, and tenant-improvement build-outs.
• Support receivership execution in state and federal court, including monthly estate property (MEP) reports, court support, opening inventory, final accounting, and coordination with counsel.
• Maintain documentation for receiver borrowing where authorized, including lender draws, Receiver's Certificates, and related reporting.
• Monitor lender compliance, tax and insurance payments, and escrow and operating accounts.
• Support lender clients on pre-foreclosure assessments and workout strategies across multifamily and commercial collateral.
• Review monthly property management reporting against budget and business plan, and draft variance explanations.
• Reconcile rent rolls, delinquency reports, operating statements, general ledgers, and bank statements, and resolve discrepancies rather than passing them through.
• Build and audit cash flow models, sale and refinance scenarios, waterfalls, budgets, and reforecasts.
• Prepare reporting for lenders, courts, investors, and senior leadership, and support portfolio reviews.
• Conduct property site visits and prepare inspection notes and supporting documentation.
• Create tools and templates that improve visibility and decision-making.
• Support due diligence and smooth asset transitions onto and off the platform.
• Partner across teams to improve processes, documentation, and reporting.

Required

• 3+ years of experience in real estate asset management or property management, with hands-on exposure to day-to-day building operations.
• Familiarity with NYC rent-stabilized multifamily assets and a working understanding of how rent regulation affects operations, leasing, and renovations.
• Exposure to a range of building types, including walk-ups, elevator buildings, and mixed rent rolls.
• Familiarity with NYC violation and compliance workflows, including DOB, HPD, and OATH/ECB.
• General familiarity with NYC tax abatement programs such as 421-a, 421-g, and J-51.
• Experience coordinating with third-party property managers, vendors, and contractors.
• Comfort working from leases, regulatory agreements, and other property-level documents.
• Working knowledge of real estate finance fundamentals, with the ability to read rent rolls, operating statements, and budgets.
• Strong analytical skills and proficiency in Excel.
• High follow-through, sound judgment, and discretion.
• Collaborative style and ability to partner across teams.
• Comfort using modern collaboration and documentation tools.
• Bachelor's degree in Real Estate, Finance, Accounting, or a related field.
• Strong written and verbal communication skills.
• Active use of AI tools (Claude, ChatGPT, Copilot) to accelerate research, synthesis, and reporting, with sound judgment around accuracy and confidentiality.
• In-office presence in New York, with regular site visits across the five boroughs and metro NY.

 

Preferred

• Direct experience managing commercial assets (office, retail, or mixed-use), including lease administration, tenant relations, and TI coordination.
• Working knowledge of affordable housing programs and related regulatory compliance.
• Experience at an institutional owner-operator, affordable housing operator, or third-party management platform with NYC exposure.
• Experience managing construction, violations, and capital projects under regulatory oversight.
• Demonstrated systems and automation instinct — a workflow, tracker, or reporting process built that outlived the candidate's tenure.
• Master's degree or certificate in Real Estate or Finance.
• Experience with Yardi Voyager, Yardi Affordable, Yardi Commercial, or RealPage OneSite Affordable; plus AppFolio, RentManager, MRI, CoStar, and PropertyShark.
• Relationships with NYC affordable housing lenders, owners, syndicators, or agencies.
• NYS real estate license, or progress toward CPM, ARM, RPA, or CCIM.

What You'll Bring

You bring ownership, judgment, discretion, and strong communication in complex, fast-moving situations. You are comfortable being the person who noticed the discrepancy, and comfortable raising it early. You also use AI tools thoughtfully while maintaining accuracy and confidentiality.

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We are looking for candidates with strong progression, increasing scope, and sound judgment in complex situations. The strongest candidates will want broader responsibility, exposure to challenging assets, and closer access to leadership.

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