Senior Asset Manager, Multifamily

Company Overview

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone’s over $9 billion portfolio currently includes over 12 million square feet of industrial, life sciences, and commercial properties, over 30,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

Position Overview

The Senior Asset Manager, Multifamily reports into the Senior Vice President, Asset Management & Investments, Multifamily and assists in all aspects of property-level operating activities and strategies for Lightstone Multifamily portfolio, which includes 113 assets with over 24,000 units across the country.

Responsibilities include financial review and reporting, leasing/revenue analysis and reporting, due diligence with Acquisitions/Investments, budget preparation, and assisting with oversight of Beacon Management, our Property Management business.

The ideal candidate has experience in Multifamily Asset management, strong analytical skills, ability to decipher financial data to effectively review and evaluate operational and investment opportunities. Required to have the ability to assess and help drive the performance of assets in the Lightstone multifamily portfolio. Must be able to work independently with minimal supervision and thrive in an environment that is highly entrepreneurial, both strategic and creative. Requires rapid learning, multitasking and prioritizing under tight deadlines. Some travel is required.

Essential Functions

• Asset management oversight for the following portfolios: MI portfolio, F and W portfolio, Mobile Portfolio, Bronx Portfolio (potentially some involvement with NYC luxury portfolio)
• Asset management responsibilities would include quarterly site visits, monthly financial review, monthly revenue management calls, budget preparation etc.
• Manage lender reporting requirements for portfolio (particularly debt fund and preferred equity)
• Assist with review of new Multifamily debt deals and new potential acquisitions
• Assist with due-diligence and onboarding of new acquisitions

Qualifications

• Minimum 7 years related experience
• BA or BS degree
• Familiarization of Multifamily operations, and leasing concepts preferred
• Demonstrated aptitude for problem solving and problem identification
• Must effectively manage and adhere to deadlines
• Proficiency in Yardi or MRI required
• Extensive proficiency in Excel, Word, and PowerPoint required and ability to manipulate data essential
• Extensive understanding of underwriting concepts and methodologies
• Attention to detail required
• Ability to operate in a team environment
• Excellent written and verbal communication skills
• Excellent interpersonal skills and demonstrated professionalism
• Ability to manage multiple tasks

Salary – $175 – $195k, offered salary commensurate with experience

This role would sit between both our Lakewood NJ office and New York City Midtown office

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