We are seeking an Asset Manager to join our New York team and help lead 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, lender-directed engagements, and borrower-side workouts.
This is a hands-on role with direct responsibility for property performance, operations, reporting, and asset strategy. In-house counsel supports legal and procedural matters, allowing the Asset Manager 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 Asset Manager will own portfolio-level performance across both asset classes, including operations, regulatory matters, capital projects, and business plans.
This role is best suited to a seasoned asset management professional who can lead independently across asset classes and navigate complexity.
Responsibilities
Develop and execute asset business plans across multifamily and commercial assets, covering operations, capital strategy, stabilization, and transition.
Drive 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.
Lead transitions tied to receiverships and other engagements, including manager changes and onboarding.
Manage residential leasing and renewals across mixed rent rolls; oversee commercial leasing and renewals on office and retail assets, including coordination with brokers and tenant-improvement work.
Oversee compliance with rent stabilization, affordable housing programs, and regulatory agreements, including DHCR registrations and recertifications.
Monitor tax abatements and burn-off timelines, including 421-a, 421-g, and J-51; coordinate tax grievances on commercial assets where appropriate.
Lead capital projects across both asset classes, including façade work, Local Law 11, DOB and HPD violations, building systems work, and tenant-improvement build-outs.
Manage receivership execution in state and federal court, including monthly estate property (MEP) reports, court support, opening inventory, final accounting, and coordination with counsel.
Coordinate 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.
Build and audit cash flow models, sale and refinance scenarios, waterfalls, budgets, and reforecasts.
Prepare reporting for lenders, courts, investors, and senior leadership, and lead portfolio reviews.
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.
Required
5+ years in real estate asset management, workouts, special servicing, or receiverships, with experience across multiple asset classes.
Direct experience managing NYC rent-stabilized multifamily assets and the impact of rent regulation on operations, leasing, renovations, and underwriting.
Direct experience managing commercial assets (office, retail, or mixed-use), including lease administration, tenant relations, and TI coordination.
Operating-class breadth across small walk-ups, larger elevator buildings, mixed rent rolls, and commercial buildings of varying size and tenancy.
Working knowledge of affordable housing programs and related regulatory…