Director, Multifamily Asset ManagementSummary of the Position:Asset Management is responsible for setting and executing asset strategies and business plans, driving investment performance, and evaluating investment decisions across the multifamily portfolio. The Director will oversee a portfolio of assets, working closely with property management, development, construction, leasing, finance, and other internal teams to improve operating performance, execute capital and redevelopment plans, and maximize long-term value.
Based in New York City, the Director will bring strong knowledge of the New York City and broader Northeast multifamily markets, including local operating conditions, regulations, leasing dynamics, and competitive trends. The role will lead financial modeling, asset performance analysis, budgeting, forecasting, lease and investment analysis, and reporting, and will present recommendations to senior management. The Director will also guide and hold property management teams accountable for executing approved business plans and achieving portfolio objectives.
Key Responsibilities:- Develop and execute asset strategies that support investment objectives, improve operating performance, and protect each property's long-term competitive position. Assess assets through both an operating lens and a broader investment perspective, identifying opportunities to create value over time.
- Oversee a portfolio of large, complex multifamily assets in New York City and the Northeast, including stabilized properties and assets in development or transitioning into operations. Maintain active involvement throughout each asset's life cycle, from development and lease-up through stabilization, ongoing operations, refinancing, and disposition.
- Prepare, maintain, and regularly update asset-level financial models, valuations, cash flow projections, and investment analyses. Evaluate performance against underwriting, budgets, business plans, and current market conditions, and recommend actions when results or assumptions change.
- Monitor property performance through regular financial reviews with property management and internal teams. Review operating statements, rent rolls, leasing and renewal trends, occupancy, concessions, delinquency, expenses, capital spending, and other key metrics. Investigate material variances, identify root causes, and establish clear follow-up actions.
- Conduct regular property visits and inspections to understand each asset's physical condition, operations, resident experience, leasing activity, and competitive position. Assess execution of business plans and capital projects, identify risks and opportunities, and communicate findings and recommendations to internal stakeholders.
- Build strong working relationships with third-party property management teams and hold operating partners accountable for agreed-upon objectives, service standards, reporting, budgets, and business plan execution. Address operational challenges directly and elevate material issues with recommended solutions.
- Oversee multifamily assets with deed-restricted affordable units and related regulatory obligations. Monitor compliance with affordability covenants, including rent limits, household eligibility documentation, required certifications, and reporting, in coordination with property management, legal, and relevant public-sector partners.
- For the vertically integrated asset, work directly with the General Manager and Tishman Speyer's property management stakeholders to set priorities, resolve operating issues, coordinate decisions across teams, and ensure the property's business plan is executed. Maintain clear accountability while aligning asset-level investment objectives with day-to-day property operations.
- Lead the annual operating and capital budgeting process for assigned assets. Work with property management, development, construction, finance, and other internal teams to develop well-supported budgets, forecasts, and capital plans aligned with investment objectives and current property needs.
- Oversee the planning and execution of capital improvements, renovations, redevelopment, and other strategic initiatives. Coordinate with development and construction teams, consultants, architects, engineers, leasing teams, and other partners on scope, schedule, budget, resident impacts, and expected returns.
- For assets in development or lease-up, remain engaged with the development and project teams on operating assumptions, design and operating decisions, delivery timing, pre-leasing, staffing, marketing, pricing, concessions, and transition to property operations. Monitor progress against the approved plan and identify issues that could affect cost, schedule, lease-up, or stabilization.
- Direct leasing and revenue strategy in partnership with property management and leasing teams. Evaluate rents, renewals, concessions, unit availability, competitive supply, and leasing pace, and recommend adjustments that balance occupancy, resident retention, and revenue growth.
- Maintain current knowledge of New York City and Northeast multifamily markets, including local supply and demand, rents, concessions, operating costs, regulations, property taxes, labor conditions, and other economic drivers. Use market research and property visits to inform asset strategy and investment recommendations.
- Coordinate with internal teams and investment partners to execute approved business plans. Participate in asset reviews, operating meetings, development and construction meetings, and discussions with third-party consultants and service providers.
- Support acquisitions, refinancings, and dispositions as needed, including due diligence, underwriting, business plan development, lender coordination, sale preparation, and evaluation of transaction implications for property operations and investment performance.
- Review partnership, loan, lease, and other property documents as needed to understand ownership obligations, lender requirements, approval rights, and potential risks. Coordinate with legal, finance, tax, and other internal teams on relevant matters.
- Draft lender and investor communications for review and approval. Coordinate the collection and review of property, market, financial, and appraisal information, and prepare ad hoc analyses and recommendations for investors, senior management, and internal stakeholders.
- Identify and communicate material risks, emerging issues, and opportunities promptly, with clear analysis, recommended actions, responsible parties, and follow-up timelines.
- Travel regularly to properties and markets within the assigned portfolio. Approximately 50% travel is required.
Skills & Qualifications:- 6+ years of experience in an analytically rigorous Real Estate or Finance environment
- Experience with financial modelling
- Proficient in Excel, Word and PowerPoint
- Must have strong verbal and written communications skills
- Proven ability to think strategically and navigate ambiguity
- Self-starter with an entrepreneurial mindset
- Creative problem solver
- Demonstrated record of working collaboratively
- Ability to multi-task across different functions and manage multiple projects
- Ability to prioritize and respond well to changing circumstances and deadlines
- Knowledge of real estate investment market
The base compensation range for this role is $160,000 to $200,000. This role is also eligible for a discretionary annual bonus, as well as access to our comprehensive medical, dental, and vision insurance, life and disability insurance, 401(k) plan (with matching contributions), wellness benefits and all other benefits afforded to full-time Tishman Speyer employees.
This base range reflects a number of factors including, but not limited to, relevant experience, skill sets, and/or licensure required of an individual in this particular role. The base range is also specific to members of Tishman Speyer's New York team, as we've considered factors specific to this geography.
Tishman Speyer is deeply committed to creating and maintaining a diverse workforce which promotes different views and perspectives. We expect our leaders and employees alike to champion diversity and inclusion practices. Tishman Speyer has several employee affinity and interest groups that provide employees opportunities to develop professional relationships across the business and identify opportunities for development and advancement.
