Real Estate Finance Manager

Background

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.

Summary

The Real Estate Finance Manager is responsible for overseeing all financial aspects of Bridge Street’s affordable housing and commercial real estate portfolios. The Real Estate Finance Manager will also be responsible for all financial, financing and refinancing aspects of multiple real estate and economic development-related projects, programs and initiatives. This role involves managing budgets, financial reporting, cash flow projections and project underwriting models, compliance, and the financial planning necessary to support the development and management of affordable housing and commercial real estate properties.

Responsibilities

Financial Planning and Budget Management:

In consultation with the VP of Real Estate, Director of
Finance, Director of Asset Management and Bridge Street’s Property Management Agent:

• Develop and implement financial strategies to support Bridge Street’s affordable housing
projects and ensure their financial viability and sustainability.
• Develop and manage budgets for real estate development projects and ongoing property management
operations.
• Monitor and report on budget performance, identifying variances and recommending corrective
actions as needed.

• Work closely with the Director of Asset Management, project developers and other stakeholders to
ensure the feasibility of underwriting and financial models and adherence to project development
and operating budgets.

Project Financing and Compliance: In consultation with the VP of Real Estate, Director of
Finance, and project developers:
• Collaborate with lenders, investors, and government agencies to secure project
financing.
• Prepare and submit applications for grants, loans, and other funding opportunities to support
new development projects, capital improvements, and other costs related to the development of real
estate projects and property management.
• Manage relationships with financial partners and oversee and ensure compliance with federal,
state, and local regulatory and funding requirements, monitor development project expenses and the
flow of funds, facilitate the timely processing of payment requests, and the draw down of approved
sources funding for development projects.
• Stay updated on changes in housing finance regulations and assess their impact on the
organization and its real estate portfolio.
• Financial Reporting: Prepare regular financial reports and presentations for senior management,
board members, and external stakeholders.
• Review Monthly Operating Reports (MORs) generated by Bridge Street’s Property Management
Agent and work with the Director of Asset Management and the Property Management Agent to optimize
the financial performance of existing properties.
• In collaboration with the Director of Asset Management and the VP of Real Estate, analyze
operational performance and recommend improvements to enhance revenue and reduce costs. Identify
potential financial risks in housing projects and develop strategies to mitigate them
• Ensure appropriate financial controls are in place and adhered to.
▪ Collaboration and Stakeholder Management:
• Collaborate with internal teams, including development, property management, asset management,
and program management, to align financial strategies with organizational goals.
• Build and maintain relationships with banks, investors, and financial partners.
Risk Management:
• Identify financial risks in housing projects and develop strategies to mitigate them.

Requirements

▪ Bachelor’s degree in finance, accounting, business administration, or a related field. A
master’s degree or relevant certification (e.g., CPA, CFA) is a plus.
▪ Minimum of 5 years of experience in housing finance, real estate finance, or a related
field.
▪ Strong knowledge of affordable housing finance programs mechanisms, including tax
credits, bonds, grants, and loans.
▪ Excellent financial modeling, analysis, budgeting, and forecasting skills.
▪ A deep understanding of real estate finance, compliance, property management, and affordable
housing programs and regulations.
▪ Proficiency in fiscal management software (MIP) and Microsoft Office Suite.
▪ Excellent communication, negotiation, and stakeholder management skills.
▪ 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.

Compensation and Benefits

Salary range of $75,000-$90,000 commensurate with qualifications and experience. Bridge Street offers comprehensive benefits that include medical, dental, vision insurance and a 403b retirement savings plan.

How to Apply

Please submit a cover letter outlining their relevant experience, resume and three professional references to [email protected]. Please submit all documents as PDFs and write “Real Estate Finance Manager” in the subject line. Due to the high volume of applicants, only qualified candidates will be contacted. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States.