Asset/Property Manager (Residential Multi-Family)
GRJ, LLC - New York, NY
The Asset Manager will report to Senior Management and assist in all aspects of property-level operating activities and strategies for the Company’s residential portfolio of multi-family properties across several states including NY, NJ, PA & FL. Responsibilities include financial reporting, budgeting, leasing strategies, and overseeing property management and tenant relations. The Asset Manager will also work actively with the Acquisitions team to assist during the underwriting, due diligence, and closing processes.
The ideal candidate has experience in property management, leasing, and financial budgeting in the NYC market and rent-stabilized properties. The candidate is also highly analytical, a self- starter, and can decipher financial data to effectively review and evaluate residential investment opportunities and to assess the performance of individual residential assets in GRJ’s portfolio. The ideal candidate is able to work independently with minimal supervision and is able to thrive in an environment that is highly entrepreneurial, both strategic and creative, and which requires rapid learning, multitasking and prioritizing under tight deadlines.
Responsibilities (include but are not limited to):
- Review and analyze monthly property financial statements; write standard monthly reports and maintain plans and actions. Conduct various analyses of accounting reporting, real estate taxes, risk management, property information, etc.
- Reconciling monthly property management reports
- Update monthly cash analysis for every asset
- Overseeing the capital expenditures and payment trackers for all buildings.
- Handle all payments and check writing via quickbooks and property management software
- Analyze and monitor the financial performance of investments, which entails maintaining financial models, reviewing annual budgets, and raising awareness of performance concerns.
- Perform onsite property visits and conduct property reviews to evaluate performance.
- Produce ad-hoc analyses to evaluate the performance of assets. Analyze and identify opportunities for value enhancement, improving cash flow within the portfolio including dispositions, refinancing and lease transactions.
- Manage construction processes onsite
- Monitor/track construction progress, budget, and cost over runs, along with approving any changing orders and construction draws.
- Oversee any tenant legal proceedings. Help identify problems and opportunities to formulate and execute plans on uncovering cases related to non-payment, illegal, and fraudulent activity at the property and/or tenant level.
Financial Analysis and Market Research - Acquisitions
- Analyze and evaluate residential investment opportunities for GRJ.
- Assist in the creation of financial models to evaluate investment returns on proposed capital projects and acquisition/developments.
- Perform ad-hoc financial analyses related to presentations for business development matters.
- Synthesize research and findings into concise presentations.
- Collect market data and conduct benchmarking analysis
- Administer the lease administration process including monitor leases, management agreements, etc. to protect ownership rights and ensure contract compliance.
- Abstract management contracts and monitor key approvals.
- Support risk management functions and act as liaison for properties with Risk Management team and/or insurance brokers.
- Drafting construction contracts.
Qualifications & Skills
- Bachelor’s Degree preferably with a concentration in Real Estate, Finance, or Business- related degree (advanced degree preferred but not essential)
- 3-5 years of relevant experience in multi-family asset management in NY and others states.
- Prior experience with NYC rent stabilized properties, outer borough experience preferred. Acquisitions knowledge/experience is highly desirable.
- Understanding of NYC multifamily rental properties, including the outer-boroughs.
- Strong knowledge of NYC housing court proceedings and rent stabilization laws.
- Strong analytical skills and quantitative skills and highly skilled in financial analysis.
- Understanding of accounting procedures and financial reports with ability to analyze variances.
- Proficiency with Microsoft Office suite, with proficiency in Excel and PowerPoint.
- Able to read, analyze, and interpret complex business documents including leases, financial reports, and contracts.
- Demonstrated ability to identify errors, problems and opportunities.
- Demonstrated problem solving, decision making, and continuous process improvement skills.
- Self starter
- Able to work proactively, independently and as a strategic partner in a team environment.
- Ability to effectively communicate and work with various departments within the Company.
- Effective presentation and communication skills, both verbal and written.
- Highly-organized, detail-oriented, motivated, and able to multi-task effectively in a deadline driven environment while maintaining strict attention to detail.
- Willingness to travel.
- Bilingual Spanish a plus (not essential).
Full Time Position. Competitive Salary and Benefits Package.
GRJ LLC is an Equal Employment Opportunity Employer, making decisions without regard to race, color, religion, creed, sex, sexual orientation, gender identity, marital status, national origin, age, veteran status, disability, or any other protected class.
About GRJ LLC
GRJ is a Manhattan-based owner/developer/operator focused on acquiring multi-family and mixed-use real estate assets. The Company currently owns a portfolio of 752 apartment units comprised of over 698,000 square feet of prime real estate in Manhattan, Brooklyn, Philadelphia, New Jersey & Florida.
GRJ seeks to identify mismanaged properties with potential to drive rents through extensive renovation and asset repositioning. An integrated platform of property, asset, leasing, construction and investment management ensures the execution and implementation of each property’s business plan.
Job Type: Full-time
- Financial Analysis: 3 years
- Residential Leasing: 5 years
- Asset Management (Multi-family Residential): 5 years
- NYC Rent Stabilization Laws: 1 year
- Acquisitions: 1 year
- Property Management: 5 years
- Contract Administration: 3 years