Senior Asset Manager, Multifamily

Lightstone; New York (NY); On-site; USD 175,000 - 195,000; Full time

Benefits offered by this job

Paid time off for vacation and sickle

Job summary

Lightstone seeks a Senior Asset Manager, Multifamily to oversee asset management for a portfolio of 24,000+ units nationwide, including quarterly site visits, monthly financial reviews, and budgeting.

The ideal candidate will have 7+ years in multifamily asset management with strong analytical skills and proficiency in Yardi or MRI, Excel, Word, and PowerPoint, and should thrive in a fast-paced, entrepreneurial environment with some travel.

Qualifications

• Minimum 7 years related experience.
• Familiarization with Multifamily operations and leasing concepts.
• Proficiency in Yardi or MRI required.

Responsibilities

• Asset management oversight for portfolios including site visits and financial reviews.
• Quarterly site visits, monthly financial review, and budgeting.
• Manage lender reporting requirements and debt fund oversight.
• Assist with due diligence and onboarding of new acquisitions.
• Support review of debt deals and acquisitions.

Skills

Analytical skills

Independent work

Strong communication

Team collaboration

Problem solving

Education

BA or BS degree

Tools

Yardi

MRI

Excel

Word

PowerPoint

Job description

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

BENEFITS

• 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