Director of Asset Management (at Bridge Street Development Corporation)

Salary: Salary range of $75,500-$90,000 + Benefits

Company & Organizational Summary
Bridge Street Development Corporation (BSDC) is an innovative and progressive nonprofit community development corporation located in the historic Bedford-Stuyvesant community of Brooklyn. We build and sustain strong communities throughout Central Brooklyn where people of all incomes can achieve their full potential. All of Bridge Street’s programs and activities are designed to promote and advance financial empowerment, social justice, and racial equity. Bridge Street primarily operates six distinct but interrelated Program Areas:

• Youth Civic Development / Workforce Development
• Older Adult Services
• Community Engagement, Organizing & Advocacy (Including Aid to Migrants and Asylum Seekers)
• Affordable Housing, Real Estate Development & Social Impact Projects
• Economic Development and Financial Empowerment
• Strategic Partnerships

These Program Areas serve as the cornerstone of Bridge Street’s longstanding history of providing critically important, quality services to our community. Learn more about our work at Bridge Street Development at www.bsdcorp.org.

Position Summary

The Director of Asset Management will oversee Bridge Street Development Corporation’s diverse portfolio of affordable housing and commercial properties, ensuring alignment with the organization’s mission to build and preserve sustainable communities where people of all incomes can achieve their full potential. This role requires strategic oversight of asset performance, financial analysis, compliance monitoring, and oversight of partnerships and other key stakeholders, to ensure long-term sustainability and community impact while fostering innovation and progress across BSDC’s program areas.

Principal Responsibilities

• Portfolio Management: The Director will lead the strategic management of BSDC’s affordable housing and commercial property assets by developing and implementing asset management strategies to optimize the financial and operational performance of its real estate portfolio. This will include monitoring unit turnovers, lease-up of vacant units, tenant lease recertifications and renewals, rent collections and increases, annual inspections, oversight of the cure and removal of building violations, and the handling of tenant work order requests and complaints.

• Financial Oversight: Analyze and track financial performance, ensuring each asset contributes to BSDC’s mission and financial sustainability. Oversee M&O budgeting, financial forecasting, variance reporting, financial audits and tax returns for the portfolio.
• Strategic Planning Input: Collaborate with BSDC leadership to align asset management initiatives with the broader mission of advancing financial empowerment, social justice, and racial equity. Assess opportunities for asset acquisition, redevelopment, and disposition in line with community needs and financial goals.
• Compliance and Risk Management: Ensure compliance with local, state, and federal regulations, including housing standards and funding requirements. Develop strategies to manage risk and ensure the long-term sustainability of the housing assets.
• Community and Stakeholder Engagement: Foster strong relationships with tenants, community organizations, government agencies, and funding partners. Promote community engagement and support services that align with BSDC’s mission and objectives across all housing properties.

Leadership and Collaboration: Lead and coordinate with property management agent and with funders and other professionals to foster a collaborative and high-performance culture to ensure operational excellence.

• Reporting and Analysis: Utilize data-driven insights to evaluate asset performance and inform strategic decision-making to enhance portfolio outcomes. Identify trends, risks, and opportunities for improvement. Prepare comprehensive reports and presentations for BSDC’s leadership and board of directors.
• Other duties as assigned.

Qualifications

• Education: Bachelor’s degree in business, Finance, Real Estate, Urban Planning, or a related field; master’s degree preferred.
• Minimum of 7-10 years of experience in asset management, real estate, or affordable housing, with progressive leadership experience.
• A deep understanding of real estate finance, compliance, property management, and affordable housing programs and regulations.
• Additional proficiencies in various computer applications including Excel and advanced MS Office skills comprehensive databases, spreadsheets and word processing software.
• Excellent written, oral and interpersonal skills, ability to establish and maintain effective external and interdepartmental communications and relationships
• Proven ability to communicate effectively with diverse stakeholders and foster collaborative work environments.
• Ability to manage multiple priorities and work effectively under pressure.
• Commitment to BSDC’s mission and values of social justice and racial equity.

Working Conditions

• This position requires in-person/in-office work at our Central Brooklyn office location, with flexibility for occasional site visits and attending community meetings.
• Occasional evening or weekend work required to meet organizational needs and community
  engagement activities.

Good Help Post: Good Help is a no-cost initial recruiting service that promotes active job openings on behalf of employers in Brooklyn. This is a Good Help job post and not for direct hire at the Brooklyn Chamber of Commerce.