Job Description
Abyssinian Development Corporation (ADC) a leading Harlem based non-profit community development corporation dedicated to building the human, social and physical capital of Harlem seeks an energetic and highly motivated Asset Manager to become a member of a dynamic team within the Real Estate Department. The Asset Manager will be responsible for overseeing all of the owned assets in the ADC portfolio, management of third party property managers and ensuring ADC’s compliance with various regulatory requirements.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Review the operating and capital budgets prepared by Finance and Property Management Dept’s for consistency with historical trends, and industry benchmarks.
• Develop and present portfolio wide analyses on financial, operational, physical, and compliance performance.
• Monitoring of all ADC properties to ensure that an effective management plan is created and being implemented by property management department, and that steps and timeline are in place and on schedule.
• Monitor and report all aspects of portfolio performance from reports prepared by Finance and Property Management, including financial, operational, physical, and compliance.
• Review financial statements and income tax returns prepared internally, and by external auditors.
• Review operational, financial, physical, and compliance reports to identify areas, patterns, and trends within portfolio, and recommend strategies, remedies, and risk mitigation to either sustain, or reverse particular trends.
• Inspect and rate properties to ensure corrective action is taken to obtain maximum ratings.
• Develop an understanding of regulatory requirements and other property related agreements to ensure that the project is in compliance with all legal and regulatory requirements.
• Ensure that building repairs & maintenance are in compliance with the requirements various regulatory agencies (city, state & federal).
• Ensure tenancy compliance with various regulatory agencies.
• Monitor Property Manager and ensure the compliance with terms of Property Management Agreements.
• Monitor leasing of apartments to ensure that they are being leased in accordance with the regulatory agreement, and annual budget.
• Establish monthly, quarterly, and annual property management and accounting reporting procedures, including format and content of reports.
• Ensure that properties are adequately insured.

OTHER DUTIES

• Other tasks as assigned by Vice President, Real Estate

QUALIFICATIONS
Education and Experience:
Bachelor’s degree in Real Estate, Finance, Accounting, or Economics with six (6) years of work experience in the field of real estate asset management, commercial development or Graduate Degree in Real Estate Asset Management, or finance preferred.

Specific Skills:
Knowledge of asset management procedures, low income housing tax credit (LIHTC) regulations, HUD section 8 programs, and DHCR regulations, as it relates to residential real estate ownership and management. Must have strong quantitative skills (including budgeting, underwriting, and financial statement analysis), excellent communication skills, be highly organized, and possess good administrative skills. Must be able to appropriately interface with City Agencies, syndicators, and investors on behalf of ADC.

Supervisory Responsibility:
Third party property managers

Principle Contacts:
Property Management Staff, City, State, and Federal Agencies, Community Boards, tenants, public at large

Physical/Sensory Skills
Ability to frequently visit buildings, meet with lenders, investors, community boards, and elected officials.

Salary Requirements: Commensurate with experience

Benefits: Competitive

How to Apply:
Please submit cover letter and resume to:
Human Resources
Abyssinian Development Corporation
4 West 125th Street, 3rd floor
New York, New York 10027
Email: realestatejobs@adcorp.org or Fax: 646-442-6598
You must indicate job title/position in the subject line of email for which you are applying Abyssinian Development Corporation (ADC) is an equal opportunity employer.

Contact Information
Email: realestatejobs@adcorp.org