VP, Multi-Family Asset Management

Company Summary:

Empire State Realty Trust, Inc. (NYSE: ESRT) is a leading real estate investment trust (REIT) comprised of great people, a strong balance sheet and a vision for future growth. ESRT owns, acquires, manages, operates, and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the "World's Most Famous Building”.

ESRT is about to acquire two residential towers and plans to grow a multi-family portfolio within New York City to complement its currently owned 10.1 million rentable square feet office and retail portfolio.

The dedicated team at ESRT is a collection of diverse individuals with a shared passion for excellence. Headquartered in New York City, we harness the energy of the city in everything we do. We care for one another, work hard, and have a lot of fun doing it! We seek an equally passionate leader to join our team, understand our vision and help us achieve that vision.

From our crown jewel, The Empire State Building, to our incredible buildings modernized for the 21^st century, to our outstanding customer service, our decade long leadership position in sustainability and our energy efficient portfolio that is 100% fully powered by renewable wind electricity, we take pride in our work. If you are looking to join a dynamic team, oversee a growing multi-family portfolio, then jump on board.

Position Summary:

You will have the opportunity to be responsible for the overall operational and financial goals for a growing multi-family portfolio in Manhattan. You will have the unique opportunity to build from the ground up as you develop processes and capabilities for multi-family assets and property management. Working with our senior leadership team you will experience the collaboration and commitment to success that defines our organization.

Multi-family responsibilities:

• Proactively supervise and report on managing agent’s execution on
  • Business plan and reports
    • Annual and long-term business/strategic plan
    • Annual and 10-year forecasts and financial plan
    • Performance towards approved underwriting, annual budget and 10-year forecast
    • Annual operating budgets and capital improvement plan, quarterly reforecasts
    • Quarterly report and presentation to senior management
    • Monthly financial review; budget variance reporting
    • Gather and maintain market knowledge; adjust business plan in response to market conditions
  • Leasing and marketing
    • Occupancy, leasing activity and program for pricing recommendations
    • Marketing program, online marketing
    • Leasing staff
  • Property management and operations
    • Collections
    • Third party vendor processes and execution
    • Customer satisfaction and ratings
    • Potential operational efficiencies
    • Perform routine property and unit inspections
    • Property maintenance
    • Maintain knowledge of building mechanical, electrical, and plumbing systems.
  • Property performance comp to budget
    • NOI
    • Revenue growth
    • ROI on unit renovations
  • Capital improvement work
    • Work with property manager to develop capital improvement plan and unit renovation scope/budget
    • Present ROI analysis and recommendations
    • Supervise managing agent’s execution of authorized capital projects
      • Compliance with approved budgets, scope, and schedule
      • Preparation of plans, specs, competitive bids, and execution of work
      • Short-term and long-term range plans for renovation and maintenance projects
      • Unit renovations, PTAC replacements, corridors, tenant lounges, etc.
  • NYC regulatory compliance
    • 421a tax abatement, affordable, rent regulation compliance
    • Maintain knowledge
    • Work with outside experts and managing agent and experts to stay on top of new developments
  • Prop tech
    • Stay current with residential products and applications
    • Make recommendations for new uses for ESRT properties
  • Assist acquisitions team in underwriting multi-family assets; conduct due diligence to ensure underwriting accuracy
• Develop team
  • Develop organizational structure
  • Identify, hire, train and manage staff

Ideal candidate is:

• Passionate – you enjoy the work and love the interaction with your team and your customers.
• Proactive – you are an initiator who quickly digests, makes recommendations, and executes new processes and enjoys work both collaboratively and independently. 
• Solutions and results-oriented – you aim to enhance processes, implement efficiency, and offer insightful feedback to drive ongoing improvement at ESRT. 
• Dependable – you own and are accountable for your work. 
• Analytical – you know how to analyze situations and information to achieve desired results and keep up with industry trends and consistently look for new ways to work smarter, not just harder. 
• Ethical – you treat others with respect and embrace and contribute to our inclusive and diverse culture. 
• Positive – you possess and inspire a service-oriented attitude with excellent follow through. 
• A natural leader who motivates and effectively manages employees

Your Future Success:

• Will include transition, following acquisition, of a multi-family portfolio through your proactive engagement with, and supervision of, a third-party property manager, and optimize property performance.
• You will be a key participant with senior leadership in helping ESRT grow its NYC centric multi-family portfolio.
• Develop a team, processes and capabilities for multi-family asset and property management.

Qualifications:

• College Degree, Master’s Degree, or related accredited designation preferred.
• Minimum of ten (10) years multi-family related experience in property management, leasing, maintenance, and construction.
• Capable of reading, analyzing, and understanding business documents; financial statements, leases, and contracts. 
• References which support
• Ability to coordinate and manage multiple tasks efficiently with available resources in a fast-paced environment
• High energy and professional presence and appearance.
• Effective leadership, communication (written and oral), and management skills
• Analytical and organizational skills
• Experience with leading multi-family prop tech

Benefits:

• Competitive compensation packages including salary, bonus, and stock/equity awards
• 401(k) with employer match
• Health, dental and vision insurance
• Flex time:  work from home up to 6 days per month
• Paid parental leave
• Generous paid time-off
• Pre-tax transit accounts
• Employee engagement events throughout the year, including happy hours, seasonal company outings
• Paid volunteer/community service opportunities
• Continuing education
• Empire State Building Observatory access
• Complimentary gym membership and other wellness benefits