Director, Development Operations
$353,600–$416,000 year
On-siteNew York City, New York, United States or New York, United States
Job Summary
Manage and optimize a subset of affordable multifamily assets by conducting thorough financial analysis, including cash flow projections and budgeting. Develop, manage, and execute comprehensive business plan strategies to maximize property values, rental income, and occupancy rates. Investigate variances to enhance asset performance through market trend analysis and capital improvement strategies. Collaborate with affiliated management companies and internal teams to align asset strategies with organizational goals. Oversee budgets, monthly variance reports, and construction schedules while identifying value-add projects and capital transaction opportunities. Prepare regular performance reports for senior management and stakeholders, including tax appeal and due diligence materials. Forecast cash flows over the hold period and assess risk factors to develop contingency plans. This role reports to the Senior Director, Development Operations within the larger Development team.
Required Qualifications
- Minimum 8+ years' applicable real estate experience
- Bachelor's degree
- Prior team management and leadership experience
- Demonstrated ability to communicate with lenders, investment partners and other external stakeholders
- Experience in multifamily affordable portfolio and asset management
- Knowledge and experience with the Project-Based Section 8 and Low-Income Housing Tax Credit Programs
- Experience in understanding partnership agreements, loan documents, regulatory agreements, and other deal-related documents
- Strong proficiency in financial modeling, Microsoft Office Suite (especially Excel), and analytical skills
- Demonstrated competency in financial statement analysis, business valuation, accounting, and finance
- Experience in budgeting, accounting, and financial analysis
- RealPage and Yardi experience
- Manages multiple priorities while demonstrating the initiative to produce results by driving processes
- Strong project management skills and follow-through
- Team-oriented with strong integrity and professionalism
- Strong organizational, written, and verbal communication skills
- Exceptional attention to detail and sound judgement
- Up to 20% travel required
- This role is preferably based in our New York City office
- relocation assistance can be discussed
Desired Qualifications
- This role is bonus eligible
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