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Vice President of Asset
4 months ago
Bedford-Stuyvesant Restoration Corporation, founded in 1967, is the nation’s first community development corporation nestled in the heart of Central Brooklyn in Bed-Stuy. Located at Restoration Plaza, a 300,000 square foot commercial complex that offers a mix of retail, dining, recreation and entertainment, this historic organization is steeped in its mission to close the racial wealth gap. We provide direct services across an economic mobility platform centered on workforce development, affordable housing/homeownership, community revitalization, small business development and arts and culture to 60,000 people annually.
About the Role
We are looking for a Vice President of Asset & Property Management to lead our team. The role is responsible for managing and optimizing Bedford Stuyvesant Restoration Corporation (BSRC) real estate portfolio; developing and implementing strategies to maximize returns, minimize risks, and ensure the long-term financial health of the portfolio; and supervising the strategic direction and day-to-day operations of the asset and property management department, while also maintaining high standards of tenant satisfaction.
The VP of Asset & Property Management will report to the President and Chief Executive Officer; serve on the executive leadership team; and supervise the Facilities Maintenance Manager, the Operations Manager, Security Director, Architect and the Event Services Director as well as our outsourced third-party property management companies. The VP of Property and Asset Management will liaise with all leadership team.
Key Responsibilities:
Strategic Asset Planning
- Develop and execute asset and property management strategies aligned with our organizational goals.
- Conduct regular assessments of our portfolio to identify growth opportunities.
Financial Analysis & Management
- Analyze financial data to evaluate asset performance, cash flow, and ROI.
- Manage budgeting and financial reporting to ensure cost-effectiveness and viability.
Risk Management
- Identify and mitigate potential risks associated with our assets and property management activities.
- Develop strategies to protect our investments and financial interests.
Team Leadership
- Lead and mentor a team of asset and property management professionals (staff and outsourced property management companies)
Stakeholder Communication
- Communicate with internal and external stakeholders, providing regular updates on performance and strategies.
- Maintain strong relationships with supportive housing leadership to address tenant and property-related matters.
Tenant Relations
- Foster positive relationships with tenants, addressing concerns and ensuring satisfaction.
Compliance and Regulations
- Ensure compliance with local, state, and federal regulations and industry standards.
- Manage insurance claims and financial reporting for LIHTC/HOME properties.
Portfolio Optimization
- Optimize property portfolio performance, including leasing, tenant relations, and maintenance.
- Develop policies and procedures to improve operational efficiency.
Vendor Management
- Oversee relationships with third-party vendors to ensure quality and cost-effective services.
Technology Integration
- Stay informed about industry trends and integrate relevant technologies to improve management processes.
Qualifications:
- Bachelor's degree in Business, Real Estate, or related field.
- Experience in asset and property management, preferably with a focus on low-income housing.
- Knowledge of LIHTC, HPD, HDC, HCR, NYCHA, HOME compliance.
- Strong financial analysis, budget management, and leadership skills.
- Excellent communication and negotiation abilities.
- Proficiency in property management software and databases.
- Familiarity with NYS/NYC regulations and compliance standards.
Preferred:
- Certification by Novogradac or Quadel.
Benefits (Full time)
Health/medical, dental and vision coverage, 12 paid holidays, a generous PTO bank of 4 weeks, paid sick leave, employee discount program, employee assistance program, commuter benefits programs, and other forms of leave and benefits.
Application Process:
Please include a resume and cover letter outlining your interests and qualifications when applying for this position. (may include other requirements, e.g accomplishments, certifications, etc.)
This job description does not represent a complete, comprehensive list of all duties and responsibilities of this position; other duties and unplanned activities may be required.
Bedford Stuyvesant Restoration Corporation, its board members, President & CEO, executives and employees are committed to providing equal employment opportunities for all persons regardless of race, creed, color, national origin, sex, disability, marital status, citizenship status, ethnicity, gender, religion, source of income, sexual orientation, age, familial status, military status, domestic violence victim status, predisposing genetic characteristics, employment status, arrest or conviction record or any other characteristic protected by federal, state or local law. Equal employment opportunities extend to all aspects of the employment relationship, including hiring, transfers, promotions, training, terminations, working conditions, compensation, benefits, and other terms and conditions of employment.
