HDFC Co-ops Asset Manager

About the Agency:

The New York City Department of Housing Preservation (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

- We maintain building and resident safety and health
- We create opportunities for New Yorkers through housing affordability
- We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.
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Your Team:

The Office of Asset and Property Management (APM) leads the agency’s effort to protect the City’s investment in affordable housing and ensure that properties remain stable and affordable over the long-term. APM actively monitors the performance and regulatory compliance of projects sponsored, supervised, and owned by the City, and connects people to affordable housing opportunities.

The Office of Asset and Property Management (APM) is composed of five divisions, which includes the Divisions of Asset Management, Property Management & Client Services, Housing Supervision, Housing Opportunities & Program Services, and Co-op Readiness & Technical Services.

The Division of Asset Management is responsible for ensuring the longevity and affordability of units the agency has created and preserved. Its programs are geared to proactively identify at-risk buildings and portfolios and to stabilize struggling and mismanaged assets. The Division tracks information on the physical and financial condition of properties, as well as oversees compliance with regulatory agreements ensuring affordability. Working with owners, partners, and HPD's Office of Development, the division helps reposition projects using a variety of approaches including financial assistance, changes in property management and/or ownership.

Your Impact:

As an HDFC Coops Asset Manager within the Division of Asset Management, you will be responsible for managing a portfolio of affordable homeownership properties, Housing Development Fund Corporation Cooperatives (HDFC Coops), to promote and ensure responsible ownership and administration of these properties. Your analytical skills and ability to maintain strong internal and external relationships will help accomplish the shared goals of HPD and our partners, which are to provide habitable, healthy, and affordable housing in one of the most expensive housing markets in the country.

Your Role:

Your role will be to work directly with property owners or their representatives (board of directors, shareholders, property managers, monitors, attorneys) and internal and external partners to promote and ensure the responsible ownership and management of HDFC Coops. Additionally, you will provide information and technical assistance about HDFC Coops restrictions and requirements to shareholders, boards of directors, elected officials and the general public as needed.

Your Responsibilities:

- Working directly with HDFC coops to promote and ensure the responsible ownership and administration of these affordable housing projects. Working closely with board members, shareholders, property managers and monitors
- Analyzing and tracking annual regulatory agreement submissions from the HDFCs; monitor the municipal arrears data for the HDFCs; recommend and pursue corrective actions for HDFCs that become financially distressed; meet with boards of directors and shareholders at HPD and attend meetings, and conduct site visits at the HDFCs when necessary
- Working with and conducting outreach to a variety of community stakeholders invested in the success of HDFC coops including council members, community boards, advocacy groups and nonprofits who serve this unique housing stock
- Providing information and technical assistance about HDFC coops to community members, shareholders, boards, and other interested stakeholders
- Reviewing and approving reserve withdrawal request by HDFCs that require HPD approval
- Coordinating HPD's efforts to implement systemic policy changes for the HDFC portfolio, coordinate with internal and external stakeholders (including City Council members and Borough Presidents' offices), conduct needs assessments, review and suggest regulatory changes, attend and speak at public events


Preferred Skills:

- Independent initiative and work well independently
- Excellent written and verbal communication skills
- Must have good interpersonal skills, work well on a team, as well as feel comfortable with public speaking
- A background and knowledge of affordable housing, asset management, or property management
- Experience with financial analysis
- Experience reading legal documents
- Strong Excel skills a plus
- Command of Spanish language a plus

COMMUNITY COORDINATOR - 56058