Director of Asset Management

SPRING11

Spring11, an affiliate of Newmark provides a full suite of commercial real estate services to a wide range of clients including some of the world’s largest banks, debt and equity funds, REITs, life insurance companies, brokerages, and investors throughout the United States, the United Kingdom, and Europe. Our team consists of over 700 employees based in New York, Atlanta, Houston, Boca Raton, Kansas City, London, and Chennai, India.

JOBDESCRIPTION:

This role will be dedicated to Silverstein Capital Partners (“SCP”).

Silverstein Capital Partners (“SCP”) is the debt platform of Silverstein Properties LLC. SCP provides financing for all major product types in growing urban markets throughout North America. Leveraging over 50 years of real estate experience, SCP provides senior loans, bridge loans, subordinate loans, and rescue capital to borrowers on shovel-ready ground-up construction, heavy value-add repositioning, land, and inventory loans.

SCP is seeking an exceptional individual to join its team as a Director of Asset Management to serve as the dedicated lead for an approximately 1 million square foot real estate asset on the west coast. The property is comprised of for-sale residential condominiums, a luxury hotel (third-party managed), and two levels of curated retail. The ideal candidate is a proactive, organized, hands-on operator with a proven track record leading transitional commercial assets and the teams that manage them.

LOCATION:

This position will be based at Silverstein Properties’ headquarters in New York City. Regular travel to the asset is required, approximately once per month, with more frequent travel at the onset.

SKILLS, EDUCATIONANDEXPERIENCE:

• Bachelor’s Degree in Real Estate, Economics, Finance or other related field required

• A minimum of 12 years of experience in commercial real estate development, asset management, or operations, with at least 5 years in a leadership role overseeing complex projects

• Multiple years of hands-on experience leading transitional commercial real estate assets (e.g., lease-up, repositioning, stabilization, or completion of newly delivered projects), including mixed-use assets with hotel, retail, or for-sale residential components

• Experience managing development and construction consultants, including architects, engineers, and contractors, and overseeing budgets, schedules, and requisitions

• Exceptional organizational and task-management skills, with a demonstrated ability to manage multiple workstreams and consistently meet deadlines

• Proven staff-management and leadership experience, with the ability to direct, develop, and motivate internal teams and third-party partners

• Proactive, self-directed approach with strong judgment, decision-making, and problem-solving skills

• Strong financial acumen, including budgeting, underwriting, and reporting

• Strong communication and negotiation skills, with the ability to collaborate effectively

SALARY:

$200,000-$300,000 annually

The expected base salary for this position ranges from $200,000-$300,000 annually, commensurate with experience. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to the base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).

WORKING CONDITIONS: 

Normal working conditions with the absence of disagreeable elements.

NOTE:

The statements herein are intended to describe the general nature and level of work being performed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.

Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.

Silverstein Properties, LLC and all of its subsidiaries are proud to be an equal opportunity employer and value diversity at our company. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender perception or identity, national origin, age, marital status, protected veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application and/or interview process, to perform essential job functions, and to receive other benefits and privileges of employment.

ESSENTIAL DUTIES:

• Serve as the owner’s primary representative and senior lead, owning all aspects of asset and project management and the overall business plan

• Develop, track, and execute business plans, budgets, and schedules, proactively identifying risks and opportunities, driving initiatives to completion against deadlines, and presenting recommendations to senior management

• Oversee retail leasing, including broker coordination, lease negotiation, and management of tenant improvement scopes, budgets, and delivery

• Oversee the hotel operations and relationship with the flag and manager, including budget, performance review, capital planning, and management agreement matters

• Lead the condominium sales program, including pricing strategy and coordination with the sales and marketing teams, legal, and unit closing teams

• Coordinate with the construction team as required

• Manage the monthly requisition, billing, and cost-reporting process, and monitor budgets and cash flow to completion

• Lead and coordinate on-site and third-party professionals, including property managers, consultants, and service providers, setting clear priorities and holding the team accountable

• Prepare and present regular reporting and presentations for ownership

• Travel to the asset at least once per month, more frequently at the onset