Development Associate (Affordable Housing)

TL;DR

Development Associate (Finance/Real Estate): Managing financial and accounting operations for affordable housing projects with an accent on underwriting, bookkeeping, and budget tracking. Focus on building pro forma financial models, ensuring regulatory compliance (LIHTC), and overseeing project-level financials from inception to stabilization.

Location: Brooklyn, NY - Hybrid (In-office with remote Fridays and limited additional remote days)

Salary: $85,000 – $125,000 annually

Company

A family-owned construction management and development firm focused on multifamily affordable and supportive housing in New York City, Maryland, and Atlanta.

What you will do

• Review and manage property and project-level financials and oversee bookkeeping functions.
• Track construction and pre-development budgets and support accounting for special purpose entities (SPEs).
• Perform underwriting for new acquisitions and build pro forma financial models to evaluate feasibility.
• Analyze key assumptions including rents, expenses, construction costs, and timelines.
• Monitor project budgets and financial performance while coordinating with third-party property managers.
• Implement internal financial reporting processes and project tracking systems.

Requirements

• Bachelor’s degree in Accounting, Finance, Real Estate, or a related field.
• 2–5+ years of experience in accounting, finance, or real estate-related roles.
• Direct experience with LIHTC, tax-exempt bond financing, municipal bonds, and subsidy layering.
• Strong proficiency in financial modeling and pro forma analysis.
• Must be based in or be able to work in Brooklyn, NY.

Culture & Benefits

• Comprehensive Medical, Dental, and Vision Insurance.
• 10 days PTO annually, 13 holidays, and accrued sick leave.
• Participation in the New York City Deferred Compensation Plan (457 and 401k).
• Flexible schedule including remote Fridays and 30 additional remote days per year.