Asset Management Associate – Multifamily and Commercial

We are seeking an Asset Management Associate to join our New York team and support a growing portfolio of distressed real estate assets across multiple asset classes. The role spans rent-regulated and affordable multifamily, office, retail, and mixed-use properties, with exposure to receiverships and lender-directed engagements. The portfolio is predominantly multifamily.

This is a hands-on role with direct responsibility for property performance, operations, reporting, and analysis across a defined portion of the portfolio. In-house counsel supports legal and procedural matters, allowing the Associate to focus on execution.

The portfolio includes NYC multifamily assets ranging from rent-stabilized walk-ups and elevator buildings to larger mixed-rent properties, alongside Manhattan and metro-NY office, retail, and mixed-use assets - many in active receivership or workout. The Associate will support portfolio-level performance across both asset classes, including operations, regulatory matters, capital projects, and business plans.

This role is best suited to a candidate with three to five years of hands-on NYC operating experience who is ready to move from managing buildings to managing capital, and who wants broader responsibility, exposure to challenging assets, and close access to senior leadership.

• Support the development and execution of asset business plans across multifamily and commercial assets, covering operations, capital strategy, stabilization, and transition.
• Drive day-to-day portfolio performance through reporting, operations, maintenance, and tenant experience.
• Oversee third-party residential and commercial property managers across collections, vacancy, turnover, compliance, and capital execution.
• Support transitions tied to receiverships and other engagements, including manager changes and onboarding.
• Manage residential leasing and renewals across mixed rent rolls; support commercial leasing and renewals on office and retail assets, including coordination with brokers and tenant-improvement work.
• Maintain compliance with rent stabilization, affordable housing programs, and regulatory agreements, including DHCR registrations and recertifications.
• Track and resolve violations across DOB, HPD, ECB/OATH, DEP, and FDNY, coordinating inspections, certifications, corrections, and dismissals.
• Monitor NYC Local Law compliance obligations and deadlines, including Local Law 11/FISP, Local Law 97, Local Laws 84 and 88, Local Law 152, and Local Law 126.
• Monitor tax abatements and burn-off timelines, including 421-a, 421-g, and J-51; support tax grievances on commercial assets where appropriate.
• Support capital projects across both asset classes, including façade work, Local Law 11, DOB and HPD violations, building systems work, and tenant-improvement build-outs.
• Support receivership execution in state and federal court, including monthly estate property (MEP) reports, court support, opening inventory, final accounting, and coordination with counsel.
• Maintain documentation for receiver borrowing where authorized, including lender draws, Receiver’s Certificates, and related reporting.
• Monitor lender compliance, tax and insurance payments, and escrow and operating accounts.
• Support lender clients on pre-foreclosure assessments and workout strategies across multifamily and commercial collateral.
• Review monthly property management reporting against budget and business plan, and draft variance explanations.
• Reconcile rent rolls, delinquency reports, operating statements, general ledgers, and bank statements, and resolve discrepancies rather than passing them through.
• Build and audit cash flow models, sale and refinance scenarios, waterfalls, budgets, and reforecasts.
• Prepare reporting for lenders, courts, investors, and senior leadership, and support portfolio reviews.
• Conduct property site visits and prepare inspection notes and supporting documentation.
• Create tools and templates that improve visibility and decision-making.
• Support due diligence and smooth asset transitions onto and off the platform.
• Partner across teams to improve processes, documentation, and reporting.

• 3 years of…