The Dermot Company is seeking an on-site experienced general manager for a luxury residential building in Manhattan. This is a high-energy position requiring a multi-talented and accomplished individual.

Job Description:

• Supervision and leadership of all site employees including leasing, maintenance and site administration
• Provide excellent customer service and maintain quality resident relations. Mediate discussions with new and existing residents.
• Communicate with vendors, contractors, clients.
• Full asset financial performance responsibility - income and expense
• Special projects as assigned

Requirements:

• Minimum 5 years of multi-family property management experience, luxury preferred.
• High standards, the initiative and ability to coordinate a team effort
• Excellent supervisory skills
• Ability to multi-task, have strong attention to detail and be well organized in a fast paced environment
• Knowledge of Microsoft Office Suite
• Excellent customer service and follow-up
• Solid and consistent work history with excellent references
• Team oriented, self-motivated and positive

Compensation:

• Competitive salary + bonus
• Comprehensive benefits package including:
• Medical
• Dental
• Vision
• 401K

Equal Opportunity Employer

Responsibilities:

• Underwrite acquisition and development opportunities;
• Evaluate investment opportunities by creating financial models that evaluate a property’s historical performance and quality of investment through cash flow modeling, NPVs, sensitivity tables etc.
• Develop a business plan for the property and create a model specific to the business plan to identify and capture any upside that will increase the return on investment
• Identify the risk/return of an asset by calculating going-in cap rates, yield on cost, cash on cash return, internal rate of returns, equity vs. debt size, and any other relevant metric depending on the asset type
• Analyze a property’s current performance by evaluating rent rolls and actuals vs. budget performance. Identify and understand any other revenue sources for the property through analyzing any commercial leases, retail leases, parking leases, and any other sources of income
• Utilize platforms such as Axiometrics, REIS, CoStar, Nancy Packes, to gather data on the submarkets to support business plan and assumptions in the financial model;
• Develop and present Investment Memorandums for acquisitions and development opportunities
• Prepare quarterly investor reports
• Create annual budgets and budget reforecasts for existing portfolio assets;
• Analyze property leasing performance by calculating gross percentage increase on rents, rent growth (historical and projected), property prospect to lease conversion rates, and other financial metrics to evaluate and improve property performance
• Conduct due diligence on potential acquisitions or existing assets
• Work with specialized consultants to evaluate specific areas of an asset and determine any additional near-term or long-term costs that will impact the financial model and its projected returns to investors
• Assess the property qualitatively and quantitatively
• Knowledge of Microsoft Excel and understanding of Real Estate industry through Minor in Real Estate or employment experience in the Real Estate industry required.

Requirements:

• Bachelor’s degree in Business Administration or related fields such as Hotel and Restaurant Administration

Job Location:

• Midtown Manhattan

Compensation:

• Competitive salary + bonus
• Comprehensive benefits package including:
  • Medical
  • Dental
  • Vision
  • 401K

Equal Opportunity Employer