Senior Associate, Loan Fund / Asset Management Team
Company: Forsyth Street
Location: New York, NY
Job Function: Lending/Loan Operations
Forsyth Street is a New York City-based asset management, real estate and financial advisory firm founded in 2003. The firm has three primary lines of business:
Asset Management – Forsyth Street has developed, capitalized, and currently manages several industry-leading investment funds and utility-scale renewable energy partnerships.
Financial Advisory – Forsyth Street provides a suite of financial advisory services, including product and program design, underwriting, capital sourcing, and assistance with the issuance of municipal debt.
Real Estate Development – Forsyth Street provides independent advisory services for real estate and affordable housing developers, including assistance with site selection, feasibility and market analysis, capital sourcing and transaction execution.
We serve public and private organizations that create and preserve affordable housing, reinvest in disinvested communities, promote clean energy, and finance public sector projects. We are a team of creative problem solvers with deep, practical experience in the public and private sectors. We help our clients create more equitable, inclusive, and resilient communities.
We currently have twenty employees with backgrounds in real estate and affordable housing development, tax credit syndication, public service, municipal finance, and conventional lending. We bring our expertise in financial structuring to bear on difficult problems. We work with our clients to provide strategic, actionable advice, manage impact-oriented investment funds, and structure and advise on affordable housing transactions.
We have helped our clients deliver results, with more than $4 billion in transactions closed and have guided the financing for tens of thousands of units of affordable housing. We have helped capitalize numerous impact funds for our clients and currently have $280 million in assets under management.
We pride ourselves on maintaining long-term relationships with our diverse set of clients. Our clients hail from all sectors: government, non-profit, philanthropic, private, corporate, and financial institutions.
Forsyth Street is an affirmative action, equal-opportunity employer.
Forsyth Street is seeking a motivated self-starter with demonstrated lending skills, to become an integral member of the firm’s Loan Fund & Asset Management division, Forsyth Street Asset Management (FSAM). Through this division, Forsyth Street has become an industry leader in creating social impact investment funds for municipal, philanthropic, and investor clients. These funds have provided capital for the preservation and new production of affordable and supportive housing in major U.S. cities, renewable energy investments, and energy retrofits in residential and commercial properties. Based on client objectives, Forsyth assesses market need, develops fund structure, raises capital, and is frequently retained to manage daily fund operations, including loan underwriting.
Primary responsibilities for the Senior Associate position will include: due diligence review and underwriting of loan requests; preparation of credit proposals; loan closings; processing of post-closing draw requests; and loan portfolio reviews for investor reporting. The Senior Associate will regularly interface with FSAM’s other loan servicing and portfolio management staff. This position may also be tasked with providing support for capital raises and new loan product development. Duties will span several funds in varying geographies. This position will report to a Managing Director.
At least 5 years of professional work experience in the community development finance sector (focused on affordable housing, small-to-medium sized businesses, and/or related commercial developments), including a minimum of 3 years of underwriting and closing of real estate and/or business loans.
Strong record of underwriting and closing loan transactions;
Excellent quantitative, spreadsheet, and financial analytical skills.
Strong writing, oral presentation, and digital presentation skills.
Clear and thoughtful communication skills in a highly interactive team setting, with a broad range of public, private, and non-profit sector clients and stakeholders.
Demonstrable problem-solving abilities, attention to detail, and project management skills.
Highly proficient with time management, given multiple assignments among multiple clients.
Highly-qualified candidates will have:
Knowledge of Federal, New York State and New York City and/or California affordable housing programs.
A conscientious attitude towards delivering a quality product for clients.
Demonstrated history of involvement (professional and/or volunteer) in public service. Graduate degree in a relevant field.
Forsyth Street has a primary office in New York City with several staff based in the Bay Area. While the firm is currently operating on a hybrid basis, candidates for this position should reside in or in reasonable proximity to New York City, reporting to the office at least 2 days per week. At this time, valid proof of Covid-19 vaccination is required for employees to visit or work in our New York City office.
Compensation and Benefits
Salary range is from $90,000 – $100,000, plus a year-end incentive payment and competitive benefits.
How to Apply
Interested applicants should send a resume and cover letter to firstname.lastname@example.org