Deputy Managing Director, Property & Asset Management
COMPENSATION:
Stanton Norfolk offers rich benefits, recognition, opportunities for professional growth and competitive salaries. The range for this position will be between $120,000 and $135,000. Salary offers will be based on the candidate’s experience in similar roles.
JOB SUMMARY:
The Deputy MD will be responsible for executing AAFE's strategies related to property management and asset management by directing and leading their portfolio's on-site team members and by implementing the policies, procedures and practices which enable each property to meet and exceed budgeted financial goals and achieve long term operational performance objectives alongside with AAFE’s Executive Director. The ideal candidate should possess a significant ability to manage and lead organizational transformations, including effectively navigating changes in company culture and processes while minimizing disruption and maximizing employee buy-in. The energetic candidate must welcome challenges, be adaptable to new software, share knowledge with colleagues and show a strong understanding of data analysis and utilizing technology to streamline workflows and improve task completion time.
RESPONSIBILITIES:
Manages and oversees the property management of Lower East Side, One Flushing, Bremond King Davis projects and other asset management related projects.
- Exercises cost control. Approves monthly Budget Variance Reports after submission from PM.
- Assures income statement accuracy. Approves monthly financial change form submitted by PM and reviews and approves monthly asset reports, submitted by PM.
- Assures compliance with all regulatory and statutory programs.
- Reviews annual budget as submitted by the PM; provides feedback and commentary before submission to ownership.
- Participates in pre/post-closing due diligence.
- Participates as a team member of housing development.
- Review and be familiarized with the project regulatory / funding requirements and ensure the marketing and management teams are following required funding /regulatory agreements.
- Works directly with Property Managers for Commercial and Residential Leasing to ensure Property Managers and respective teams are meeting the projects’ covenant agreements.
- Assures adherence to all insurance requirements.
- Participates in annual inspections with PM.
- Controls and monitors closed transactions to ensure compliance with legal documents.
- Enforces lease provisions or contractual obligations.
- Ensures City, State and Federal compliance reports accuracy and timely submissions while maintaining sound Asset Management Integrity.
- Oversees RFP process for strategic maintenance contracts to leverage pricing for sites in the portfolio.
- Performs feasibility planning and execution of capital needs, repositioning, refinancing, and capitalization of portfolio-wide asset management.
- Regularly meets and communicates with ownership on issues and site performance.
- .Collaborates with ownership goals and objectives including long and short-term strategies relative to the position of the asset in the real estate life cycle.
- Communicates investment goals set by ownership with the site team with the focus on the property as an investment.
- Directly supervises the Property Managers and ensures they are supervising their direct reports in a productive and fair manner.
- Indirectly supervises the maintenance team.
- Holds regular team meetings to communicate goals, measure progress against goals and expectations and identifies actions to achieve objectives.
- Bachelor's degree required, preferably in business or hotel administration, Project Management or Organizational Change. MBA or Master's a plus.
- Minimum 5 years' experience in senior leadership role(s) involving class-A property management and/or asset management.
- Strong project management, organizational change and data analysis experience.
- A deep understanding of change management methodologies and best practices to guide the change process strategically.
- Demonstrates proficiency in Google Workspace (email, sheets, calendar, drive) and core office applications (Word, Excel, PowerPoint).
- Industry certifications such as BOMA or IREM a plus.
- When necessary, must be willing to work various schedules and days to accommodate business needs
- Must be accessible to respond to off-hours emergency situations.
- Familiarity with Yardi is a plus.
- Bilingual in English/Spanish or English/Chinese.
EXPECTATIONS & HOW WE WORK:
We believe that the people and the communities that we have the privilege to serve deserve our very best every day. We are a results-driven organization that focuses on inclusiveness, empowerment and impact. AAFE employees are accountable, collaborative and strong communicators with a core strength of community service and development. We are strategic thinkers who are committed to racial equality and treating each other, and the communities we serve, with respect and dignity. We have an aptitude for technology and a strong desire to continuously learn. This philosophy expands to the way we manage our work and the way we put our best foot forward. All employees are expected to adhere to the following:
- Ensure compliance with all building contract requirements and oversight agency requirements.
- Work as part of a team in supporting other AAFE program contracts and projects.
- Provide high-quality customer service to both internal and external partners and co-workers.
- Support efforts that ensure a safe and healthy work environment.
- Understand and embrace the value in collaborating with people of different cultures, races, genders, ethnicities, beliefs, experiences and ideas.
- An understanding of the concepts of institutional and structural racism and bias and their impact on underserved and underrepresented communities.
- Maintain a positive, helpful attitude.
- Enjoy your time at work!
WHO WE ARE:
Stanton Norfolk Inc. is a division of Asian Americans for Equality, Inc. (AAFE) that manages the day-to-day operations of over 1000 units of affordable housing and 100 units of commercial and community facilities across nearly 50 multifamily properties serving individuals and families in Manhattan and Queens neighborhoods, including Chinatown/Lower East Side, Flushing, and the Far Rockaways. Currently, Stanton Norfolk’s portfolio is comprised of full tax credit / affordable properties, as well as commercial spaces as part of mixed-use buildings. We pride ourselves in providing a full breadth of management services to provide quality, safe, and affordable housing; maintenance; financial reporting; and resident relations.
Asian Americans for Equality (AAFE) is a 501 (c) (3) non-profit organization based in New York City. Founded in 1974 in Manhattan’s Chinatown to advocate for equal rights, AAFE has transformed in the past four decades to become one of the city’s leading housing, social service and community development organizations. AAFE advances racial, social and economic justice for Asian Americans and other systematically disadvantaged communities, guided by our experiences as Asian Americans and our commitment to civil rights. AAFE is nationally recognized as an innovative affordable housing developer and property manager; we have created and preserved more than 1,000 affordable rental units in Manhattan and Queens and provided over $400 million in mortgage financing for first-time homebuyers. Through our affiliate, Renaissance Economic Development Corporation, AAFE supports immigrant entrepreneurs, offering low-interest loans and training programs. From neighborhood offices in Chinatown and the Lower East Side (Manhattan) and Flushing and Jackson Heights (Queens) we provide an array of multilingual counseling and educational programs in support of low-income tenants, seniors and immigrant youth. AAFE strives for a more equitable city, through research, advocacy and grassroots community organizing.
Stanton Norfolk, Inc. is an equal opportunity employer