Uncommon expertise, unmatched impact.

Our Mission

At CPC, we believe that housing is central to transforming underserved neighborhoods into thriving and vibrant communities. That’s what we’re about: providing innovative capital solutions, fresh thinking, and a collaborative approach to the often complex challenges that owners and developers of multifamily housing face.

Our Approach

As a leading nonprofit affordable housing and community revitalization finance company, we utilize our deep, strategic relationships with government agencies, local community groups, banks, and other lenders to create customized loan opportunities for our customers. As a trusted partner in your success, we work hand-in-hand with you to help maximize the potential of your multifamily project and its impact on the community.

Our Story

CPC was formed in 1974 as a direct response to the is­sues of property abandonment and blight that New York City was facing at the time. Each year, between 20,000 and 30,000 rental units were being lost in to abandonment, fire, or demolition, and the City was taking ownership of hundreds of buildings through foreclosure and forfeiture.

In response to a 1972-73 study conducted by the New York City Clearing House, an association of com­mercial banks, and the banking community, led by David Rockefeller, stepped up with a pro­posal to address the problem. Perhaps, focusing a small amount of pooled capital on a few neighborhoods-namely Crown Heights in Brooklyn and Washington Heights in Manhattan—would improve building quality and people’s living conditions, and help pre­vent the blight in surrounding neighborhoods from de­stabilizing them. CPC was founded in 1974 to be a self-sustaining vehicle, a departure from many non­profits, which rely on regular injections of charita­ble support.

Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $10.5 billion to finance the creation and preservation of 193,000 units of quality housing in neighborhoods across New York State and beyond.

Our Values

At CPC, our values define who we are as an organization and guide the way we work with our partners, within our communities, and with each other.

  • We have a deep commitment to our mission. We work hard to create the best outcomes for our customers and communities, and we have fun doing it.
  • We respect, trust and empathize with others. We are supportive and responsive and value different perspectives. While we are diverse in backgrounds and skills, we are united by our values and our passion for bringing capital to underserved communities.
  • We strive for excellence in everything we do and aim to add measurable value to neighborhoods, customers, and the industry. We go the extra mile to find the right solution and deliver on our commitments.
  • We believe in accountability and operate with the highest standards of integrity and transparency. We communicate openly and honestly with our partners and each other.
  • We embrace collaboration. The connections we foster with our colleagues, customers, government partners, and other like-minded organizations are crucial to improving housing quality and making a positive impact on the physical, social, and economic infrastructure of communities.

Meet our team.

Connect

President’s Message Video

President & CEO Rafael E. Cestero reflects on a record-breaking Fiscal Year 2018, thanks the partners who help CPC breathe new life and economic opportunity into underserved communities, and looks toward a robust and successful future.

Executive Team

At CPC, the expertise of our team makes the difference, time and time again.


Rafael E. Cestero

President
Chief Executive Officer

Sadie McKeown

Executive Vice President
Chief Operating Officer

Richard A. Kumro

Executive Vice President
General Counsel & Secretary

David Rothberg

Executive Vice President
Chief Financial Officer

Carolyn Au

Senior Vice President
Director of Portfolio Services

Wanda Chin

Senior Vice President
Chief Credit Officer

Richard Conley

Senior Vice President
Agency Production

Andrew D’Agostino

Vice President
Western New York

Timothy Deegan

Vice President
Agency Sales and Originations

Jeff Ely

Senior Vice President
Administration

Thomas McGrath

Senior Vice President
Director of Upstate Revitalization

Doug Olcott

Senior Vice President
Regional Director
Hudson Valley, New York

Nicholas V. Petragnani, Jr.

Senior Vice President
Regional Director
Central New York

Elizabeth Propp

Senior Vice President
Investments & Acquisitions

William C. Russo

Senior Vice President
Capital Strategies

Robert Riggs

Senior Vice President
Regional Director
New York City & Long Island

Jaime Sharrock

Vice President
Strategic Initiatives & External Affairs

Michael Skrebutenas

Senior Vice President
Regional Director
Capital Region, New York


Board of Directors



Eduardo Diaz-Perez

Managing Director and Global Head of Real Estate and Asset Finance
Credit Suisse

Steven J. Weiss

Partner
Cannon Heyman & Weiss, LLP

Bruce A. Beal, Jr.*

President
Related Companies

Gary Rodney

Chairman
CREA, LLC.

Rafael E. Cestero

President & Chief Executive Officer
The Community Preservation Corporation

Todd A. Gomez

Senior Vice President
Bank of America

Ingrid Gould Ellen

Faculty Director
NYU Furman Center for Real Estate and Urban Policy

Carol M. Joseph

Real Estate/Legal Consultant

Richard Roberts

Managing Director, Acquisitions
Red Stone Equity Partners, LLC

Anders M. Tomson

CEO and President, Chemung Canal Trust Company
President, Capital Bank

Alan Wiener*

Managing Director
Wells Fargo Multi-family Capital

*CPC Resources Board Members

Make a career out of making a difference.

Make a career out of making a difference.

Careers at CPC


The Administrative Assistant will provide professional administrative support for CPC Mortgage Company.

For more information, apply here:

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The VP, Manager of Freddie Mac SBL Underwriting will serve as central point of contact for CPC with Freddie Mac to facilitate deal flow during the underwriting process. Incumbent will work with Mortgage Officers, Freddie Mac and other appropriate parties on evaluation and processing of viable loan applications and manage a team in underwriting all loans.

For more information, apply here:

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The VP, Loan Servicing will manage the loan servicing team and monitor all functions related to loan servicing of CPC’s Multifamily Portfolios. The VP, Loan Servicing will also oversee: booking of new loans onto the CPC loan servicing system, application of loan payments in accordance with loan documents, tracking of key loan data and ensuring the input of all data to the system is accurate and complete. In addition to, the VP, Loan Servicing will respond to information requests internally and externally, as required. Additional responsibilities will ensure that the department follows the firms and all Investors policies and procedures related to loan servicing.

The VP, Loan Servicing will also make recommendations and develop strategies for the future growth of this department, as well as designing and implementing process controls that assist with internal and external audit reviews.

For more information, apply here:

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The Underwriting Analyst will support agency Underwriters and VP, Chief Underwriter with submissions for Fannie Mae and Freddie Mac loan products, including but not limited to: conventional and affordable multifamily and small balance loans.

For more information, apply here:

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Under moderate supervision, the Underwriter will work closely with the Underwriter Manager underwriting new loan originations for Fannie Mae/Freddie Mac. The Underwriter will also perform evaluation of proposed Agency loans for credit risk; obtain deal approvals from CPC credit committee and respective Agency.

For more information, apply here:

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The Asset Manager will implement the day-to-day risk management activities on the CPC loan portfolio. The Asset Manager will also identify and mitigate the credit, financial, operational, physical and market risks impacting the properties collateralizing the loans within the portfolio. Additional responsibilities include working with CPC team members, borrowers; guarantors; local, state and federal government agencies; developers; owners; managers; Fannie Mae; Freddie Mac; FHA and other industry groups to preserve the value of the housing financed by the mortgage loans.

For more information, apply here

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The Sustainability Intern will perform regular research and data analysis and assist in the development and administration of CPC’s Strategic Initiatives and Sustainability Programs.

For more information, apply here:

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CPC has offices throughout NY State, and opportunities may become available for Mortgage Officers, Assistant Mortgage Officers, as well as support & clerical staff. If you have any questions, please contact Brenda Barnaby, Human Resources at 646-822-9327.

The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status. CPC supports equal opportunity employment and understands that EEO is the law.