Vice President, Asset Management, Multifamily

Lightstone; New York (NY); On-site; USD 260,000 - 290,000; Full time

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

Tuition assistance

Office perks like lunch and snacks

Job summary

Lightstone Group is seeking a Vice President of Asset Management based in Lakewood, NJ. The successful candidate will oversee approximately 8,500 multifamily units, focusing on driving performance and optimizing investment returns. Candidates must have 10-15+ years of experience in asset management, a proven track record in managing multifamily portfolios, and strong financial modeling skills. The role offers a competitive salary of $260k - $290k, plus a discretionary bonus and comprehensive benefits.

Qualifications

• 10-15+ years of experience in multifamily asset management, real estate private equity, or related roles.
• Proven track record of managing institutional-quality multifamily portfolios.
• Advanced financial modeling and analytical skills required.

Responsibilities

• Oversee asset management of a national portfolio including Class A and B assets.
• Manage third-party property management companies ensuring accountability.
• Conduct regular performance reviews and financial analyses.
• Partner with Acquisitions team on underwriting new investments.

Skills

Multifamily asset management

Analytical skills

Communication skills

Financial modeling

Property management systems

Operational performance

Revenue management

Tools

Yardi

MRI

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Full Time Management Lakewood Office - NJ, Lakewood, NJ, US

2 days ago Requisition ID: 2022

Salary Range: $260,000.00 To $290,000.00 Annually

COMPANY OVERVIEW

The Lightstone Group, LLC, or 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 27 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With nearly $12 billion in assets under management, Lightstone’s portfolio currently includes over 15 million square feet of industrial, logistics, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys.

POSITION OVERVIEW

Lightstone is seeking a Vice President, Asset Management – Multifamily to oversee and drive performance across Lightstone’s third party managed national portfolio of approximately 8,500 Class A and B multifamily units. This individual will play a critical leadership role in executing asset-level business plans, optimizing operating performance, and maximizing investment returns across the portfolio.

The role requires a highly analytical and strategic professional with deep experience across multifamily investments and operations, managing third-party property managers, driving revenue and expense performance, and collaborating closely with Acquisitions and Debt teams. The Vice President will act as a key bridge between ownership and operations, ensuring alignment of investment strategy with on-the-ground execution.

The role will also play a key role in reviewing new equity and debt investment opportunities, overseeing acquisition due diligence and closing process.

The role will report to the Senior Vice President of Multifamily Asset Management and Investments.

ESSENTIAL FUNCTIONS

• Oversee asset management of a national multifamily portfolio (~8,500 units), including Class A and B assets across multiple markets
• Manage and oversee third-party property management companies ensuring accountability on:
  • Leasing performance and occupancy
  • Revenue management and pricing strategy
  • Operating expenses and NOI growth
  • Capex execution, including unit renovations and capital projects
• Develop and execute asset-level business plans, including value-add strategies, repositioning initiatives, and long-term hold/sell decisions
• Conduct regular performance reviews, including:
  • Monthly and quarterly financial analysis
  • Variance reporting vs. budget and underwriting
  • KPI tracking (rent growth, occupancy, concessions, turnover, etc.)
• Lead budgeting and reforecasting processes in partnership with property management and finance teams
• Monitor market and submarket performance for macro/ micro investment and operating trends
• Maintain knowledge of investment and valuation trends
• Partner with Acquisitions team on:
  • Underwriting new investments
  • Investment committee materials
  • Market and asset-level due diligence
  • Transition and onboarding of newly acquired assets
• Support financing initiatives, including lender reporting and refinancing execution
• Oversee capital expenditure planning, ensuring ROI-driven deployment of capital
• Conduct frequent site visits and property inspections to ensure alignment with business plans and identify operational improvements
• Prepare and present investment memos and portfolio updates to senior leadership
• Mentor and manage junior asset management and analyst team members, fostering a high-performance, analytical culture

QUALIFICATIONS

• 10–15+ years of experience in multifamily asset management, real estate private equity, or related investment roles
• Proven experience overseeing institutional-quality multifamily portfolios, including both Class A and B assets
• Strong track record of managing third-party property managers and driving operational performance
• Experience with acquisitions, underwriting, and investment analysis
• Advanced financial modeling and analytical skills (Excel proficiency required)
• Familiarity with property management systems (Yardi, MRI, etc.)
• Strong understanding of revenue management, leasing strategy, and expense optimization
• Experience with capital projects / value-add execution
• Excellent communication and presentation skills, with ability to interface with senior leadership and external partners
• Ability to operate in a fast-paced, entrepreneurial environment and manage multiple assets and priorities
• Ability to travel on a regular basis to drive asset performance and evaluate new investments

PREFERRED QUALIFICATIONS

• Experience working with or overseeing national portfolios across multiple markets
• Background in real estate private equity or institutional investment platforms
• Exposure to development or redevelopment projects

Offered Salary

Offered salary commensurate with experience, $260k - $290k base plus discretionary bonus

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