Asset Management Associate

New York Based Operator · New York

FULL TIME$1,40,000 – $1,40,000 / yr

Job Description

Associate, Asset Management

We are seeking an experienced

Real Estate

Associate

to join our

Asset Management

team at a leading real estate development and investment company.

THE COMPANY

A privately held commercial real estate development, investment, and management firm in New York. The role would report to the Asset Manager and include multifamily and commercial assets. The role involves managing and analyzing the financial aspects of various properties within the portfolio. Key responsibilities include maintaining valuation models, conducting property-level analyses, tracking property performance, assisting with business plan implementation, preparing budgets and investor reports, and participating in due diligence for any capital transactions.

Who You Are

Financial Modeling Skills: Candidates with exceptional financial modeling skills, including cash flow analysis, IRR calculations, and discounted cash flow valuations, are encouraged to apply. Proficiency in Argus is preferred.

Real Estate Accounting Knowledge: Familiarity with real estate accounting principles is preferred, and we are committed to providing training and support for candidates with expertise in other accounting practices who demonstrate the capacity to learn and adapt.

Time Management: The candidate should possess excellent time management skills, enabling them to prioritize tasks effectively and manage multiple responsibilities.

Communication and Interpersonal Skills: We value exceptional communication, interpersonal, analytical, and writing skills. The ability to communicate clearly and collaborate effectively is vital to our inclusive and respectful work environment.

What You’ll Do

Maintain and update valuation and Argus models on a quarterly basis; forecast capital contributions and distributions. Work with property team and Asset Manager to prepare and review annual property level budgets and future cash flow projections for existing and future portfolio assets.

Undertake detailed property-level analyses of prospective leasing deals, tenants and in-place leases, capital projects, operating and financial statements, market and competitive position, real estate taxes, insurance and other relevant information.

Track ongoing property-level activity and identify trends and issues.

Review monthly property performance on both a cash and accrual basis; identify issues and present opportunities for improvement.

Assist Asset Manager with implementation of business plan initiatives; analyze property performance relative to business plan targets.

Prepare analyses and consolidate information for investor reports and executive team presentations.

Assist Asset Manager with obtaining institutional investor and lender approvals and handle ad hoc requests for investors and lenders.

Develop analysis and recommendations related to value creation and development opportunities at portfolio assets. Research value-add strategies and ideas to consider at the properties.

Assist with analyses, due diligence, and preparation of investment books for financing, recapitalization and disposition transactions.

Maintain working knowledge and understanding of governing documents – partnership agreements, loans, complex joint venture agreements, leases at property.

Assist with due diligence and transition of new acquisitions into the operating portfolio.

Preferred

Qualifications

Education

Bachelor's Degree in real estate, business, economics, finance, accounting, or any related field is required.

Experience

We are seeking candidates with 3-5 years of real estate asset management, acquisitions, or a related finance role.

This is an in-office position. Candidate must be New York based and be able to work out of the office in Manhattan.

Bonus Points

An MBA or Master's in Real Estate, but we value and respect the unique knowledge and skills candidates may have acquired through alternative educational paths.

Compensation

Salary ranges from $140,000-$160,000. Actual base salary will be determined based on individual’s experience, skills, and qualifications. In addition, employees are eligible for an annual discretionary bonus and full benefit package.

Company	New York Based Operator
Location	New York
Type	FULL TIME
Niche	Full-time
Salary	$1,40,000 – $1,40,000 / yr