Senior Asset Manager, Multifamily

Lightstone

Lakewood Township (NJ)

On-site

USD 175,000 - 195,000

Full time

14 days+

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Benefits offered by this job

Paid time off for vacation and sick leave

Health, dental, and vision insurance

401(k) and Roth retirement plans

Flexible spending accounts

Life and AD&D insurance

Long-term and short-term disability insurance

Tuition assistance

Corporate discount programs

Job summary

Lightstone is seeking a Senior Asset Manager, Multifamily to oversee property-level activities for its multifamily portfolio. This mid-senior level role requires strong analytical skills and at least 7 years of experience in asset management, with responsibilities including financial reporting and oversight of property management operations.

Qualifications

Minimum 7 years of related experience required.
Detailed familiarity with Multifamily operations and leasing concepts preferred.
Proficiency in various software tools essential.

Responsibilities

Overseeing asset management for multiple portfolios.
Conducting monthly financial reviews and managing lender reporting.
Assisting with due diligence and onboarding of new acquisitions.

Skills

Analytical skills

Problem solving

Attention to detail

Communication skills

Education

BA or BS degree

Tools

Yardi

MRI

Excel

Word

PowerPoint

Job description

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This range is provided by Lightstone. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$175,000.00/yr - $195,000.00/yr

Company Overview

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone’s over $9 billion portfolio currently includes over 12 million square feet of industrial, life sciences, and commercial properties, over 30,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

Position Overview

The Senior Asset Manager, Multifamily reports into the Senior Vice President, Asset Management & Investments, Multifamily and assists in all aspects of property-level operating activities and strategies for Lightstone Multifamily portfolio, which includes 113 assets with over 24,000 units across the country.

Responsibilities include financial review and reporting, leasing/revenue analysis and reporting, due diligence with Acquisitions/Investments, budget preparation, and assisting with oversight of Beacon Management, our Property Management business.

The ideal candidate has experience in Multifamily Asset management, strong analytical skills, ability to decipher financial data to effectively review and evaluate operational and investment opportunities. Required to have the ability to assess and help drive the performance of assets in the Lightstone multifamily portfolio. Must be able to work independently with minimal supervision and thrive in an environment that is highly entrepreneurial, both strategic and creative. Requires rapid learning, multitasking and prioritizing under tight deadlines. Some travel is required.

Essential Functions

Asset management oversight for the following portfolios: MI portfolio, F and W portfolio, Mobile Portfolio, Bronx Portfolio (potentially some involvement with NYC luxury portfolio)
Asset management responsibilities would include quarterly site visits, monthly financial review, monthly revenue management calls, budget preparation etc.
Manage lender reporting requirements for portfolio (particularly debt fund and preferred equity)
Assist with review of new Multifamily debt deals and new potential acquisitions
Assist with due-diligence and onboarding of new acquisitions

Qualifications

Minimum 7 years related experience
BA or BS degree
Familiarization of Multifamily operations, and leasing concepts preferred
Demonstrated aptitude for problem solving and problem identification
Must effectively manage and adhere to deadlines
Proficiency in Yardi or MRI required
Extensive proficiency in Excel, Word, and PowerPoint required and ability to manipulate data essential
Extensive understanding of underwriting concepts and methodologies
Attention to detail required
Ability to operate in a team environment
Excellent written and verbal communication skills
Excellent interpersonal skills and demonstrated professionalism
Ability to manage multiple tasks

Salary - $175 - $195k, offered salary commensurate with experience

This role would sit between both our Lakewood NJ office and New York City Midtown office

Lightstone offers our employees a comprehensive and competitive benefits program inclusive of:

– Paid time off for vacation and sick leave

– Health, dental, and vision insurance, and wellness programs

– 401(k) and Roth retirement plans

– Flexible spending accounts (medical & dependent care)

– Life and AD&D insurance with options for supplemental employee, spouse, and child

– Long-term and short-term disability insurance

– Commuter spending accounts (transit and parking)

– Tuition assistance and employee assistance program

– Corporate discount programs

– On-site mother’s room

– Office perks such as lunch, fruit, drinks, and snacks

Seniority level