Director, Development Operations – New York

Fairstead is a purpose-driven real estate firm dedicated to building affordable communities across the country. Headquartered in New York, with offices in Colorado, Florida, and Washington DC, Fairstead owns and manages a portfolio of more than 30,000 apartments, including pipeline, across 28 states. As an integrated owner, operator, and innovator, Fairstead brings development, construction, and property management under one unified platform to deliver high-quality affordable housing that serves our residents at scale.

At Fairstead, we believe affordable housing should be thoughtfully designed, professionally managed, and responsibly operated. We seek to create and preserve housing that serves residents while delivering long-term value to communities, partners, and stakeholders.

Fairstead challenges industry norms through our tech-forward, entrepreneurial approach to affordable housing. In addition to core real estate capabilities, we operate innovative service lines designed to improve resident outcomes, strengthen communities, and drive operational efficiency. We embrace digital transformation, data-driven decision-making, and emerging technologies, including AI, to build scalable systems that support sustainable growth, grounded in a culture of entrepreneurship, innovation, partnership, dedication, and integrity.

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

Exact compensation may vary based on skills, experience, and location.

Salary Range

$185,000 $250,000 USD

Diversity in backgrounds and experiences is key to Fairstead’s success. Being an equal opportunity employer is a central tenet of our philosophy that shapes who we are and the communities we serve. Our goal is to ensure competitive total compensation that is commensurate with experience, location, and other market benchmarks.

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