• Vice President, Affordable Housing

    Job Locations US-NY-New York
    Job ID
    2473
    Function
    Asset / Portfolio Management
    Location Name
    423 West 55th Street
  • Overview

    Related Companies is the most prominent privately-owned real estate firm in the United States. Formed 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, Las Vegas, San Francisco, South Florida, Abu Dhabi and Shanghai and boasts a team of approximately 2,000 professionals. The Company’s existing portfolio of real estate assets, valued at over $15 billion, is made up of best-in-class mixed-use, residential, retail, office, trade show and affordable properties in premier high-barrier-to-entry markets. For over a decade Related made its mark in the super luxury condominium market by developing properties that have achieved record-breaking sales statistics in each of its submarkets, is the largest owner of luxury residential rental properties in New York with over 5,000 units in its portfolio, has developed preeminent mixed-use projects such as Time Warner Center in New York and CityPlace in West Palm Beach and is currently developing the 26-acre Hudson Yards project on Manhattan’s west side. Related also manages approximately $1.5 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, Taft Hartley plans and family offices.

    Related is staunchly committed to sustainable design with over $6 billion in green development underway or completed. The firm developed one of the first green residential buildings in the nation, Tribeca Green in Battery Park City, New York and Chicago's first green residential building, 340 on the Park. Related recently completed a collection of new LEED-certified residential buildings, The Brompton, The Harrison, MiMA and Superior Ink in New York City, The Clarendon in Boston and The Century in Los Angeles, as well as several green mixed-use and retail projects.

    Related also owns Equinox(R) Fitness Clubs, further expanding the company's capabilities into the health and fitness arena and enhancing the value of its properties by incorporating an exclusive, branded amenity into the lifestyle offering, and a partnership interest in Unions Square Events, the catering, culture, sports, and events business of Danny Meyer’s Union Square Hospitality Group . For more information about Related Companies please visit www.related.com.

    Responsibilities

    The Vice President is responsible for the effective and successful management of a portfolio of largely rent-stabilized buildings throughout New York City. The Vice President will be responsible for setting the strategic direction of the portfolio while leading a team of high level professionals to achieve established operational, financial and business performance goals. The position is both strategic, financial and operational in nature leading the development of and responsible for the implementation of comprehensive business plans, programs, initiatives, and strategies that promote the achievement of optimum operational, financial, and business performance of the company. The Vice President is also responsible for assuring adherence to all applicable policies and procedures established by Related Management and/or by administrative agencies, state, local, and federal statutes, always with attention to and compliance with Equal Employment Opportunity and Equal Housing Opportunity statutes, regulations, and policies. This Vice President is further responsible for the accurate and timely reporting and communication to the portfolio’s asset management/ownership group.

     

    The Vice President is directly responsible for the supervisory oversight, review and collaboration of District Managers and a centralized administrative/leasing staff in the following functional business areas:

     

    Financial

    1. Develop operating and capital budgets in collaboration with ownership.
    2. Review and analysis of detailed budget variances, income/expense, capital expenditures, leasing costs, NOI and cash flow; financial analysis of capex projects relative to each site’s operational and financial status and goals.
    3. Timely and accurate review of BVR’s and budget preparation, with appropriate adjustments to reflect changes or variances in programs and/or operating factors.
    4. Track, analyze and report to ownership on a variety of operating metrics covering: leasing, violations/compliance, accounts payable, accounts receivable, capital work, unit renovations, tenant issues, Fair Housing requests, emergency repairs, risk/loss, etc.
    5. Acquisition of skills and consistent use of all technology tools implemented by Related; including time and attendance tracking applications, property management software, spreadsheets and applicable software, accounts payable/e-check system, budgets and budget tools, etc.

    Leadership

    1. Consistently review and assess staffing needs and participate in the hiring process to facilitate the development of skilled, professional, competent staff at all levels
    2. Assure the leadership development of the District Management team and their associated site personnel
    3. Collaborate with the recruiting department to maximize the resource for all positions in the region and assure appropriate use of the recruiting resource, including identification of appropriate source outreach by market and building type, skills required, utilization of Related’s hiring testing and results, responsiveness of hiring managers, etc.
    4. Personally participate in the initial and ongoing training of critical staff in key performance areas.
    5. Personally participate in the analysis of training needs and coordination with the training department and District Managers in assuring resources are identified and utilized, including consistent use of the Learning Center, scheduled classes, etc.
    6. Develop a coaching strategy and set expectations for key roles, holding the District Managers accountable for same with their staffs.
    7. In collaboration with the human resources department, develop and support a Progressive discipline strategy per Related procedures and philosophy for key roles.
    8. Conduct timely, effective employee evaluations to include discussion of professional goals and career/skill development.
    9. Consistently monitor and assure compliance with Related‘s EEO obligations and Affirmative Action Program.
    10. Identify, establish, and develop relationships with appropriate government agencies relative to the assigned regional portfolios.

    Regional Operation

    1. Assure accurate, consistent administrative processes, compliance with all local, state, and federal laws and compliance with Related Management procedural requirements for the centralized administrative/leasing office and site staff.
    2. Conduct regional meetings and events throughout the year. Provide recommendation for training on financial systems use, budgeting, Budget Variance Report preparation and the role these tools play in our management of the sites. Provide recommendation for training on site control techniques/methods.

    Site Control

    1. Consistently and regularly visit sites and provide documentation in site notes.
    2. Follow up on all issues appropriately and timely and escalate resolution.
    3. Partner with your district managers in identifying and prescribing methods to better manage the site control needs of varied sites throughout the portfolio.
    4. Supervise and provide oversight of the implementation and maintenance of effective site control programs. Assures adherence to all insurance and lender requirements.
    5. Supervise and provide oversight of the implementation and maintenance of appropriate/effective security programs and safety programs.

    Maintenance

    1. Maintain Related Management Company and Ownership’s standards with regard to the visual presentation and maintenance of properties and offices.
    2. Assure completion of significant repairs and improvements throughout the region
    3. Consistently assure for all sites in region: curb appeal, site ground work, preventative/scheduled maintenance program, repairs projects, purchases and materials/ supplies, good vendor relations, appropriate site custodial work, cycle painting, site extermination, apartment renovations/turns, etc.

    Qualifications

    1. Bachelors degree in Real Estate, Management, Finance or Business Administration or related field or compared proven experience.
    2. Minimum 10-15 years of relevant management experience within the NYC multifamily asset class.
    3. Experience in and strong/detailed understanding of New York City’s rent stabilization laws.
    4. Strong financial acumen; must understand the components driving P&L.
    5. Track record of creating/executing on strategic plans increasing NOI.
    6. Extensive experience in managing, coaching and inspiring direct reports.
    7. Demonstrated success in leadership, staff development and team building.
    8. High level presentation, written and verbal communication skills.
    9. Experience creating and managing budgets and reporting to investors
    10. Ability to multi-task and prioritize tasks to ensure corporate goals and time frames are met.
    11. Proven improvement of process and operating results.
    12. Exceptional customer-service skills; demonstrated ability to maintain strong working relations with both internal and external clients.
    13. Demonstrated ability to manage multiple and complex operational matters on a daily basis.

    #CB

    Related is an Equal Opportunity Employer

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