Vice President of Asset Management
NYC Metropolitan Area (Hybrid – 3 days/week in-office)
ABOUT THE ORGANIZATION
BRC help New Yorkers experiencing homelessness reclaim their lives by providing a “hand up”, offering opportunities for health and self-sufficiency, and restoring hope and dignity. BRC was founded in 1971 by a handful of neighbors from the Bowery neighborhood who decided to take control of their lives and transform their circumstances. By 1976, BRC introduced its first residential program and marked the beginning of BRC’s formal journey to becoming a symbol of dignity and self-respect for New Yorkers in crisis. Today, BRC continues to serve as a lifeline for the most vulnerable New Yorkers. BRC’s programs and facilities are designed to provide comprehensive support.
With a deep commitment to the work, BRC has grown into a $200 million organization, operating across Manhattan, Brooklyn, the Bronx, and Queens. BRC’s extensive network comprises over 1000 full-time, part-time, and per-diem positions. Each and every BRC staff member makes heroic contributions to our city, providing vital services in times of crisis and need.
ABOUT THE OPPORTUNITY
The Vice President of Asset Management (VP), reporting to the Chief Administrative Officer, is responsible for the oversight of BRC’s current and growing portfolio of real properties (currently 30) which includes affordable housing, commercial space, leased, city-owned shelter facilities and BRC owned shelter facilities. The VP will implement asset strategies that plan for future growth, establish oversight, sustain protocols, set performance benchmarks, and facilitate opportunities for ideal property and performance. Key responsibilities are:
Asset Management – Construction Projects
- Upon construction completion, lead transition of real estate development projects into BRC’s existing property management portfolio.
- Evaluate building-related systems proposed for properties under construction to confirm BRC possesses the adequate skills in-house to adequately maintain these systems and recommend alternative solutions as needed.
Asset Management – Existing Portfolio
- Identify total cost of property ownership for each asset within BRC’s real estate portfolio.
- Provide suggestions for realizing additional return on investment for existing real estate portfolio.
- Assess building conditions and evaluate the fiscal health of properties and provide recommendations for enhancements.
- Conduct period visits to BRC properties within the four boroughs (Manhattan, Bronx, Brooklyn, and Queens).
- Partner with Vice President of Facilities Support Services to ensure work performed by vendors is performed to appropriate specifications and quality.
- Collaborate with the Vice President of Facilities Support Services in the further development of BRC’s existing work order system to enable planned and preventative maintenance efforts.
Financial Management and Analysis
- Partner with the Chief Real Estate Development Officer, the Chief Financial Officer, and the Vice President of Facilities Support Services and others as appropriate to build a comprehensive multi-year financial forecast.
- Collaborate with Vice President of Contracts and Budget, Assistant Controller for Housing, and others to understand existing facilities related capital reserves.
- Prepare quarterly and as needed financial reports on the performance of BRC’s real estate portfolio to the CEO, CFO, Chief Real Estate Development Officer, VP of Housing, and Chief Administrative Officer.
- Collaborate with the Finance function to ensure each property within the portfolio has sufficient insurance coverage.
- Investigate reasons for inordinate expenses or expenses that appear out of line.
Compliance and Sustainability Planning
- Ensure portfolio compliance with regulatory and syndicator requirements.
- Collaborate with the Vice President of Facilities Support Services on initiatives related to LL 84, 87 and 97 compliance requirements.
ABOUT THE SUCCESSFUL CANDIDATE
The VP will bring a minimum of 10 years of relevant experience of which 3-5 years should include professional experience in affordable housing, property management, public finance, or a related field. Specifically, the VP will have:
- Core competencies and experience in property management and real estate finance.
- Knowledge of New York City and State building systems and codes, governmental agencies and processes.
- Experience performing building commissioning and assessments.
- Ability to serve as BRC’s expert and owners’ representative across the real estate portfolio.
- Ability to read financial statements.
- Superior verbal and written communication skills.
- A collaborative team player who is a self-starter.
EDUCATION: Minimum of a BA, preferably in Real Estate, Business, Urban Planning, Public Administration, Finance or Economics. MBA preferred.
COMPENSATION: $150,000 – $180,000 commensurate with experience, plus a generous benefits package.
WORK CULTURE & SCHEDULE: 37.5-hour work week. Core office hours are 9 am – 5:30 pm Monday through Friday. Hybrid position, mandatory 3 days per week in the office.
HOW TO APPLY: Submit a cover letter AND resume in confidence at this link.
COVID-19: Proof of COVID vaccination is required.
BRC is an equal opportunity employer. We value and welcome diversity in the workplace and strongly encourage all qualified persons to apply. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.