Managing Director, Real Estate Lending

This position is at NY Green Bank, a division of NYSERDA. NY Green Bank is a specialized investment fund dedicated to bridging financial gaps and mobilizing private capital to advance the build-out of clean energy and renewable infrastructure in New York State. NY Green Bank collaborates with the private sector to transform financing markets and develops transaction structures and methodologies that overcome typical clean energy investment barriers, serving as replicable models for other capital providers.

About the Role

The Managing Director, Real Estate Lending will help lead NY Green Bank’s community development real estate lending program, expanding opportunities to support clean energy and building decarbonization projects, including those that serve disadvantaged communities (DACs), overcome investment barriers, and advance the state’s environmental justice goals.

Reporting to the Managing Director and Head of NY Green Bank’s Community Development Investment Group, this senior position will own the full investment lifecycle—from origination through portfolio management—within a team that includes VPs, Associates, and/or Analysts. The role requires close collaboration with other NY Green Bank teams, including Investment and Portfolio Management, Business Development & Innovation, Risk & Compliance, Legal & Regulatory Affairs, Finance & Operations, and Strategy, Impact & Communications.

This is a senior transaction execution and portfolio management role requiring substantial experience originating, underwriting, structuring, closing, and managing commercial real estate debt transactions. The position is based in New York City and may require 10% - 20% travel.

Responsibilities

• Originate, underwrite, structure, negotiate, close, and monitor commercial and residential real estate debt transactions, including affordable multifamily housing, community facilities, and other community development projects.
• Design and implement innovative financing structures that overcome barriers in DACs and attract private sector capital.
• Build and maintain co-financing relationships with commercial banks, community development financial institutions (CDFIs), affordable housing lenders, public agencies, developers, sponsors, and mission-driven lending organizations.
• Lead preparation of comprehensive credit memoranda and manage transaction teams to present, defend, and obtain approval for transactions before NY Green Bank's Investment and Risk Committee.
• Serve as the primary deal lead responsible for coordinating borrowers, counsel, co-lenders, consultants, public agencies, and internal stakeholders through closing.
• Track investment performance, enforce covenant compliance, and manage risk mitigation for existing loans.
• Stay abreast of industry trends, regulatory changes, and best practices in renewable energy real estate, community development finance, and renewable energy.
• Cultivate relationships with sponsors and other stakeholders to source new business aligned with NY Green Bank’s mission.
• Mentor and develop a team including VPs, Associates, and/or Analysts; foster a collaborative, high-performance culture across NY Green Bank teams.

Requirements

• Bachelor's degree and at least 10 years of progressively responsible experience originating, underwriting, structuring, closing, and managing commercial real estate debt transactions, including meaningful experience in affordable housing finance, community development lending, community facilities finance, and related lending disciplines.
• Minimum of 5 years of experience in a supervisory role coaching senior and junior staff, managing multiple concurrent projects, and driving deals to closing under tight deadlines.
• Demonstrated experience leading transactions from initial sourcing through closing and ongoing portfolio management.
• Experience structuring and closing commercial real estate debt transactions, including affordable housing and community development financings utilizing LIHTC, NMTC, HTC, C-PACE financing, public subsidies, or comparable credit enhancement programs.
• Experience originating transactions and developing relationships with borrowers, developers, sponsors, CDFIs, commercial lenders, and public-sector financing partners.
• Experience presenting and defending credit recommendations before credit committees, investment committees, loan committees, or similar decision-making bodies.
• Extensive experience with financial modeling; ability to oversee rigorous due diligence and sensitivity analyses.
• Excellent written and oral communication; comfortable presenting complex concepts to credit committees.
• Self-starter with a “closer” mindset, high work ethic, and adaptability to a fast-moving environment.
• Ability to collaborate across multiple teams to achieve collective goals and targets.

Preferred Qualifications

• Master of Business Administration (MBA) with at least 10 years of experience in commercial real estate lending, affordable housing finance, and community facility lending (underwriting, cashflow modeling, transaction execution, restructurings), including 5 years of supervisory experience.
• Experience leveraging Low Income Housing Tax Credits (LIHTC), New Markets Tax Credits (NMTC), Opportunity Zone credits, Commercial Property-Assessed Clean Energy (C-PACE) financing, and other state and local incentive and subsidy programs.
• Familiarity with New York State affordable housing programs, New York City affordable housing programs, housing finance agencies, community development finance, and New York regulatory environments.