Trainee Distressed Asset Management Jobs (NOW HIRING)

We are seeking an Asset Manager to join our New York team and help lead a growing portfolio of distressed real estate assets across multiple asset classes. The role spans rent-regulated and affordable multifamily, office, retail, and mixed-use properties, with exposure to receiverships, lender-directed engagements, and borrower-side workouts.
This is a hands-on role with direct responsibility for property performance, operations, reporting, and asset strategy. In-house counsel supports legal and procedural matters, allowing the Asset Manager to focus on execution.
The portfolio includes NYC multifamily assets ranging from rent-stabilized walk-ups and elevator buildings to larger mixed-rent properties, alongside Manhattan and metro-NY office, retail, and mixed-use assets - many in active receivership or workout. The Asset Manager will own portfolio-level performance across both asset classes, including operations, regulatory matters, capital projects, and business plans.
This role is best suited to a seasoned asset management professional who can lead independently across asset classes and navigate complexity.
Responsibilities
• Develop and execute asset business plans across multifamily and commercial assets, covering operations, capital strategy, stabilization, and transition.
• Drive portfolio performance through reporting, operations, maintenance, and tenant experience.
• Oversee third-party residential and commercial property managers across collections, vacancy, turnover, compliance, and capital execution.
• Lead transitions tied to receiverships and other engagements, including manager changes and onboarding.
• Manage residential leasing and renewals across mixed rent rolls; oversee commercial leasing and renewals on office and retail assets, including coordination with brokers and tenant-improvement work.
• Oversee compliance with rent stabilization, affordable housing programs, and regulatory agreements, including DHCR registrations and recertifications.
• Monitor tax abatements and burn-off timelines, including 421-a, 421-g, and J-51; coordinate tax grievances on commercial assets where appropriate.
• Lead capital projects across both asset classes, including façade work, Local Law 11, DOB and HPD violations, building systems work, and tenant-improvement build-outs.
• Manage receivership execution in state and federal court, including monthly estate property (MEP) reports, court support, opening inventory, final accounting, and coordination with counsel.
• Coordinate receiver borrowing where authorized, including lender draws, Receiver's Certificates, and related reporting.
• Monitor lender compliance, tax and insurance payments, and escrow and operating accounts.
• Support lender clients on pre-foreclosure assessments and workout strategies across multifamily and commercial collateral.
• Review monthly property management reporting against budget and business plan.
• Build and audit cash flow models, sale and refinance scenarios, waterfalls, budgets, and reforecasts.
• Prepare reporting for lenders, courts, investors, and senior leadership, and lead portfolio reviews.
• Create tools and templates that improve visibility and decision-making.
• Support due diligence and smooth asset transitions onto and off the platform.
• Partner across teams to improve processes, documentation, and reporting.
Required
• 5+ years in real estate asset management, workouts, special servicing, or receiverships, with experience across multiple asset classes.
• Direct experience managing NYC rent-stabilized multifamily assets and the impact of rent regulation on operations, leasing, renovations, and underwriting.
• Direct experience managing commercial assets (office, retail, or mixed-use), including lease administration, tenant relations, and TI coordination.
• Operating-class breadth across small walk-ups, larger elevator buildings, mixed rent rolls, and commercial buildings of varying size and tenancy.
• Working knowledge of affordable housing programs and related regulatory compliance.
• Familiarity with NYC tax abatement programs, including 421-a, 421-g, and J-51, and with commercial real estate tax assessment and grievance processes.
• Experience with distressed assets in receivership, pre-foreclosure, or workout environments - across multifamily and commercial.
• Comfort operating in court-supervised environments and working fluently from loan documents, ground leases, regulatory agreements, partnership agreements, commercial leases, and court orders.
• Experience managing construction, violations, and major capital projects under court or regulatory oversight.
• Strong real estate finance knowledge across both multifamily and commercial debt structures.
• Strong analytical and accounting skills, with advanced Excel - including the ability to build templates that other team members can use.
• High independence, sound judgment, and discretion.
• Collaborative style and ability to partner across teams.
• Comfort using modern collaboration and documentation tools.
• Bachelor's degree in Real Estate, Finance, Accounting, or a related field; MBA is a plus.
• Excellent written and verbal communication skills.
• Active use of AI tools (Claude, ChatGPT, Copilot) to accelerate research, synthesis, and reporting, with sound judgment around accuracy and confidentiality.
Preferred
• Experience at a receiver, special servicer, restructuring firm, affordable housing operator, or commercial owner-operator.
• Experience with federal multifamily receiverships, including Fannie Mae or Freddie Mac matters, or with CMBS special-servicing engagements.
• Relationships with major NYC affordable housing lenders, owners, syndicators, or commercial CMBS special servicers.
• Experience with Yardi Voyager, Yardi Affordable, Yardi Commercial, or RealPage OneSite Affordable.
What You'll Bring
You bring ownership, judgment, discretion, and strong communication in complex, fast-moving situations. You also use AI tools thoughtfully while maintaining accuracy and confidentiality.
Strong candidates may come from:
• Affordable housing owners, operators, and developers such as Omni New York, BFC Partners, L+M Development Partners, MDG Design + Construction, BRP Companies, Related Companies, and Related Affordable.
• Commercial owner-operators with NYC office, retail, or mixed-use exposure, such as SL Green, Vornado, RXR, Brookfield, Tishman Speyer, Empire State Realty Trust, Walter & Samuels, or Shorenstein.
• Bank and agency lending platforms such as Wells Fargo, Citi, JPMorgan, Santander, Freddie Mac, or Fannie Mae - multifamily, affordable, or CMBS.
• Multifamily- or commercial-focused REITs, private owners, or institutional investors with NYC exposure.
• Large NYC rental operators with mixed-income portfolios and abatement burn-off experience (e.g., Moinian Group, Glenwood, Stonehenge, Atlantic Development Group, Stellar Management).
We are looking for candidates with strong progression, increasing scope, and sound judgment in complex situations. The strongest candidates will want broader responsibility, exposure to challenging assets, and closer access to leadership.
#ZIP
Pay Range
$120,000-$140,000 USD
Over its 40 year history, Trigild has managed and operated hundreds of commercial properties.
Trigild has expertise in managing a wide array of commercial real estate assets and operating businesses. Trigild leverages its expertise in property management, receivership, fiduciary, operations, consulting, and disposition services under one roof - for maximum service and value. Visit www.Trigild.com.
Our portfolio includes Hotels, Multifamily Complexes, Office Buildings and Hospitality Properties (including restaurants, golf courses, amusement parks).
Additionally, Trigild is the nationally recognized authority on non-performing commercial loans that combines Receivership/Trustee, Management and Disposition services under one roof. That means no coordinating multiple companies, and no duplication of fees. We have the expertise to quickly take control of the assets, maximize operating results, and speed recovery by selling the assets quickly through our national network of industry contacts. .
Whether you are looking for commercial management services or a new level of performance on commercial loan recovery, Trigild can maximize value.
All job offers are contingent on completion of a background check and proof of eligibility to work in the United States.
Trigild does not accept unsolicited resumes from third-party recruiters unless they were contractually engaged by Trigild to provide candidates for a specified opening. Any such employment agency, person or entity that submits an unsolicited resume does so with the acknowledgement and agreement that Trigild will have the right to hire that applicant at its discretion without any fee owed to the submitting employment agency, person or entity. At this time, we are not working with any agencies.