Director, Development Operations – New York

The Director, Development Operations – New York is a specialized leadership role focused exclusively on Fairstead's New York City-area assets. New York's regulatory environment – local laws, HQS, rent stabilization and rent regulation programs, CapEx requirements, and mixed residential/commercial buildings – differs meaningfully from Fairstead's national Section 8 portfolio, and this role exists to bring dedicated, specialized attention to that portfolio. The Director is the single owner for New York: accountable for business plan implementation and execution across all Fairstead-owned New York assets and Fairstead's primary representative to New York lenders, partners, and public housing authorities.

Responsibilities:

• Own business plan execution and investment oversight for all Fairstead-owned assets in New York, serving as the single point of accountability for the New York portfolio
• Serve as Fairstead's primary point of contact for New York lenders, joint ventures, institutional investment partners, and public housing authority partners
• Ensure all fees owed to Fairstead are collected in full and on schedule
• Lead capital events for New York assets, including dispositions, refinancings, LP buyouts, and other recapitalizations, from positioning through closing
• Oversee lease-up of new and repositioned assets to support stabilization and refinancing
• Serve as the firm's internal expert on New York-specific regulatory requirements, including rent stabilization, rent regulation, local laws, HQS, and CapEx programming
• Oversee the unique requirements of mixed residential/commercial assets within the New York portfolio
• Partner with Property Management on New York-specific compliance and business plan execution, including improving rent collection rates and working with internal and external partners to keep all buildings in compliance with applicable Local Laws
• Ensure rents are maximized to the full extent legally allowed under rent stabilization, rent regulation, and applicable subsidy programs
• Coordinate with the broader Development Operations and Development teams on New York-specific deal transitions and stabilization, taking full ownership of transitioned deals and driving them to stabilization and target returns
• Build and lead a team supporting the New York portfolio as it grows
• Represent Fairstead on New York-specific regulatory and industry matters
• Perform other related duties as required
• Incorporate AI tools into daily workstreams where appropriate to improve the speed, quality, and consistency of work, and stay current as new tools are introduced

Requirements:

• Bachelor's Degree required; advanced degree a plus
• 13-16 years of experience in New York City multifamily investment oversight or property management, including direct experience with rent stabilization/regulation
• Deep knowledge of New York City-specific housing regulations, local laws, and HQS requirements
• Experience with mixed residential/commercial investment oversight a plus
• Strong financial analysis and reporting skills
• Proven experience leading capital events, including dispositions, refinancings, and recapitalizations
• Experience working directly with lenders, institutional and joint venture investment partners, and public housing authorities, including partner capital calls and funding requests
• Demonstrated ability to build, lead, and develop a team
• Excellent written and verbal communication skills
• Proficient in Microsoft Office Suite
• Comfortable using AI tools to support daily work, with a positive, adaptable attitude toward adopting new AI-driven processes as Fairstead's tools and workflows evolve