Asset Management Associate

CREN; New York (NY); Hybrid; USD 140,000 - 200,000; Full time

Job summary

Blackstone Real Estate is seeking an Asset Management Associate in New York, focused on day-to-day ownership oversight of a commercial real estate portfolio. You will track performance, translate asset data into decisions, and help execute business plans within a collaborative asset management team.

The role involves partnering with property management, leasing, and external service providers to align priorities, support holding/selling decisions, and contribute to capital planning and lender

Responsibilities

• Monitor asset-level performance versus business plan, budget, and underwriting assumptions; flag variances and recommended actions
• Maintain and update property operating models, forecasts, and key performance dashboards to support hold/sell decisions
• Partner with property management and leasing teams to drive NOI performance through revenue growth, expense management, and operational initiatives
• Coordinate ownership priorities across third-party managers, leasing brokers, and other service providers to ensure timely execution of the asset business plan
• Support capital planning and execution for tenant improvements, leasing commissions, and capital projects, including return analysis and prioritization
• Prepare internal asset reporting packages and presentations covering performance, risks, and upcoming decisions for portfolio leadership
• Assist with financing and lender reporting needs, including tracking covenant compliance and required deliverables
• Contribute to valuation and exit analysis, including market research, rent/expense assumptions, and disposition materials support

Job description

This Asset Management Associate role supports the day-to-day ownership oversight of a commercial real estate portfolio, with a focus on tracking performance, translating asset data into decisions, and helping execute business plans. The position sits within an asset management team and partners closely with property management, leasing, and external service providers to align priorities and drive outcomes. Based in New York, this role has meaningful exposure to reporting for portfolio leadership, capital planning, and key hold/sell and financing-related decisions.

Job Features

• Monitor asset-level performance versus business plan, budget, and underwriting assumptions; flag variances and recommended actions
• Maintain and update property operating models, forecasts, and key performance dashboards to support hold/sell decisions
• Partner with property management and leasing teams to drive NOI performance through revenue growth, expense management, and operational initiatives
• Coordinate ownership priorities across third-party managers, leasing brokers, and other service providers to ensure timely execution of the asset business plan
• Support capital planning and execution for tenant improvements, leasing commissions, and capital projects, including return analysis and prioritization
• Prepare internal asset reporting packages and presentations covering performance, risks, and upcoming decisions for portfolio leadership
• Assist with financing and lender reporting needs, including tracking covenant compliance and required deliverables
• Contribute to valuation and exit analysis, including market research, rent/expense assumptions, and disposition materials support

Blackstone Real Estate is the real estate investing business of Blackstone, a global alternative asset manager. The platform invests globally across both real estate equity and real estate debt, deploying capital across strategies and major property sectors.Equity investing spans thematic strategies across the risk spectrum, including opportunistic and core-plus approaches, with exposure that includes logistics, residential, office, life science office, and retail. The debt business originates real estate loans and invests in real estate-backed debt securities, and it manages Blackstone Mortgage Trust (NYSE: BXMT), a real estate finance company focused on senior loans collateralized by commercial real estate.

Target Compensation Range

$140,000 - $200,000