Director, Market Rate Asset Management
New York, NY Asset Management
Job Type
Full-time
Description

  

Fairstead is a vertically integrated real estate company specializing in affordable and mixed-income housing. Since 2014, Fairstead has acquired and/or developed more than $4 Billion of multifamily property across the country, and today owns a portfolio of 16,500 apartments in 18 states. The company’s comprehensive platform provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design and construction, energy and sustainability, property management and social services. 

 

Fairstead’s primary mission is to provide high quality housing to all regardless of income, and to make our stakeholders feel “Right at Home.” We accomplish this through an empathetic and innovative approach, and by utilizing our interdisciplinary platform as an investor, developer, owner, and operator. Fairstead provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy, sustainability, property management and social services. With a long-term commitment to its residents, communities, and partners, the Fairstead team stands out by:

  • Listening to and understanding the needs of its residents, communities, partners, and stakeholders alike
  • Developing and preserving high quality affordable housing in an innovative and sustainable fashion
  • Creating a positive social and environmental impact within the properties and communities it serves

Fairstead’s Core Values

  • Empathy
  • Innovation
  • Entrepreneurship
  • Determination
  • Integrity

Responsibilities:   

  • Prepare detailed financial models and ad hoc financial forecasting and analyses
  • Create and manage asset level business plans
  • Oversee residential and retail leasing through broker management and pricing strategies
  • Prepare investment memos and presentations for senior management
  • Monitor the performance of existing portfolio investments through financial 
  • Manage special projects and interface with diverse departments
  • Work closely with construction managers to determine project schedule, scope and capital needs
  • Oversee budgets and monthly variance reports submitted by property management 
  • Identify value add projects throughout portfolio
  • Visit properties on an as-needed basis
  • Work closely with senior management to evaluate capital events and hold/sell analysis
Requirements
  •  Minimum 7-10 years’ applicable real estate experience required
  • Bachelor’s degree required
  • Financial modeling (Microsoft Excel) and analytical skills
  • Exceptional written and verbal communications skills
  • Strong project management skills and follow-through
  • Demonstrated competency in financial statement analysis, business valuation, accounting      and finance.
  • Knowledge of the NYC residential and retail rental market a plus
  • Manages multiple priorities while demonstrating the initiative to produce results      by driving processes 
  • Team-oriented with strong integrity and professionalism.
  • Bright and flexible with strong organizational skills
  • Exceptional attention to detail
  • Sound judgement 
  • Some travel required

 Compensation and Benefits


Compensation: 

  • $175,000-$200,000

Health Benefits:

  • Employer paid medical, dental and vision 

DTO/Sick/Personal:

  • Discretionary time off
  • Discretionary sick time off
  • Generous holiday schedule
  • Paid maternity leave 

Additional Benefits:

  • Flexible work arrangements
  • 401K plan
  • Flex spending accounts 
  • Life insurance 
  • Commuter benefits 
  • Long term disability 
  • Nationwide pet insurance
Salary Description
$175,000 - $200,000