Senior Commercial Underwriter

Galaxy Management Group, Inc.; New York (NY); On-site; USD 85,000 - 110,000; Full time

Job summary

Galaxy Management Group, Inc. seeks a Senior Commercial Real Estate Underwriter in Queens, NY to own collateral underwriting with a clear path to leadership. Analyze rent rolls, operating statements, and appraisals, and prepare memos for approval to the Executive Committee.

Ideal candidates have 5-7 years CRE appraisal/underwriting experience, strong NOI and LTV knowledge, and excellent written communication. NYS appraiser license preferred; salary $85,000–$110,000 depending on experience.

Qualifications

• 5-7 years of CRE appraisal or property underwriting experience.
• Strong command of NOI, cap rates, absorption, and LTV calculations.
• Excellent written communication for drafting technical collateral reviews.
• NYS General Real Estate Appraiser license/certification preferred.

Responsibilities

• Analyze rent rolls, leases, and operating statements to establish stabilized cash flows and calculate DSCR.
• Perform desk reviews of independent appraisals to verify market value estimates and methodology.
• Conduct physical site inspections of proposed collateral and construction loan draws.
• Review environmental questionnaires and Phase I reports; run property-level stress tests on vacancy and expense assumptions.
• Prepare collateral, valuation, and property-income sections of credit memos for Executive Committee review.
• Collaborate with senior underwriting leadership toward a department leadership role.

Skills

Underwriting

Analytical skills

Financial analysis

Report writing

Education

NYS Appraiser License

Job description

Senior Commercial Real Estate Underwriter - Queens, NY

A well-established community bank with a $1.6+ billion loan portfolio concentrated in mixed-use commercial property across Brooklyn and Queens is looking for a Senior Property Underwriter to take ownership of its collateral underwriting function; with a clear path to a leadership role in commercial underwriting. This is a rare seat for someone with an appraisal background who wants to move client-side into a stable, growth-track role.

What You'll Do

• Analyze property rent rolls, leases, and operating statements to establish stabilized cash flows and calculate property-specific Debt Coverage Ratios
• Perform technical desk reviews of independent appraisals to verify market value estimates and methodology
• Conduct physical site inspections of proposed collateral, including periodic inspections for construction loan draws
• Review environmental questionnaires and Phase I reports for potential hazards, and run property-level stress testing on vacancy and expense assumptions
• Prepare the collateral, valuation, and property-income sections of credit approval memos for presentation to the Executive Committee
• Work directly alongside senior underwriting leadership with a defined track toward a department leadership role

What You Bring

• 5-7 years of commercial real estate appraisal or property-specific underwriting experience
• Strong analytical command of NOI, cap rates, absorption rates, and LTV calculations
• Excellent written communication skills for drafting technical collateral reviews
• NYS General Real Estate Appraiser license/certification highly preferred

Compensation:

$85,000-$110,000, commensurate with experience and appraisal licensure.

Location:

Queens, NY.