Construction Portfolio Manager

About Us:

The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.

Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $11.9 billion to finance the creation and preservation of more than 220,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.

As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.

Role Summary:

The Construction Portfolio Manager manages a portfolio of affordable housing and mixed-use real estate loans; projects are located throughout the New York City metropolitan area, the Hudson Valley, upstate New York, and select states outside the tri-state region. The individual will be responsible for tracking and reporting on construction progress, approving construction funding, analyzing budgets, monitoring leasing status, and assisting on converting to permanent financing. This role will identify risks that may delay repayment and play a proactive role in developing solutions to resolve issues.

What You'll do:

• Collect and coordinate all documentation on a portfolio of previously closed and new construction loans for affordable multifamily developments.

• Interact with all parties to the transactions including but not limited to: originators, underwriters, credit staff, loan administrators, inspecting engineers/architects, borrowers, syndicators, governmental partners, and internal and external legal counsel.

• Track and provide reporting on project budgets and the availability of funds during construction as it relates to the construction timeline and anticipated construction draws. Proactively identify issues to management, and develop and recommend solutions to resolve issues.

• Review and approve paperwork required for ongoing construction draws.

• Periodically attend project site visits as needed.

• Track leasing status and assist in potential re-underwriting of permanent loan refinancing.

• Prepare credit memos for approval of loan modifications, collect appropriate legal documentation; participate in closings with internal and external parties, and ensure new information is correctly reflected in systems.

• Prepare reporting on portfolio performance data on an ongoing basis.

• Participate in team initiatives to improve portfolio monitoring and risk management processes.

• Maintain a thorough and up-to-date record of property activity and document management to maintain the integrity of the asset management database and other electronic systems.

• Prepare and present quarterly construction reports and/or criticized loan reports.

• Recommend risk rating changes and prepare documentation for approval of proposed changes.

Skills and Experience

• BA/BS required with minimum of 3 years' experience in commercial real estate lending, accounting, finance, or construction management.

• Familiarity with commercial real estate concepts and financial statement analysis.

• Working experience with affordable housing finance required, including familiarity with subsidy and grant sources, with preference for experience in both private sector financial institutions and public agencies.

• Familiarity with construction lending, administration, processes, systems, and documentation required.

• Proficiency in MS Office.

• Superior verbal and written communication skills, analytic, organizational, and presentation skills.

• Demonstrated ability to manage multiple tasks requiring strong attention to detail, as well as be a team player.

What We Offer:

• Competitive compensation

• 401(k) retirement plans with employer match

• Medical, dental, and vision benefits for employees and their dependents

• Commuter benefits

• PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability

• Tuition assistance program

• Two "work from anywhere" weeks per year

• Summer Fridays

• Collaborative working spaces

• Service days to support our communities

• Employee development and engagement events

• More about our offerings and culture here

This is a full-time, hybrid role where you will work from the Manhattan office two - three days a week. The salary range is $75,000 - $95,000, dependent on experience.

The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.