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

The Community Preservation Corporation (CPC) was launched in 1974 through a joint agreement between the City of New York and its leading commercial banks to restore and rebuild New York’s aging neighborhoods. In the more than 40 years since we have evolved and expanded our reach to become a consistent source of capital to underserved housing markets throughout New York City and in communities across the state.

CPC has financed more than 193,000 units of multifamily housing to date. With more than $10 billion in public and private investments, our work has helped revitalize countless neighborhoods and provided quality housing for low-, moderate- and middle-income families, senior citizens, and individuals with disabilities.

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.

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President’s Message

For more than forty years CPC has been providing innovative and flexible lending solutions to help meet the demand for stable, quality housing in cities and neighborhoods across New York State. Since our inception in 1974, we have leveraged more than $10 billion to fund the creation or preservation of approximately 193,000 residential units.

We believe that housing is central to transforming underserved neighborhoods into thriving, vibrant communities. We believe this because we have seen it happen in countless communities across the state.

As a nonprofit affordable housing and community revitalization company, CPC holds a unique position within the industry. Throughout our history, during times of economic crisis and disinvestment when the risk involved in lending kept many out of struggling and underserved neighborhoods, CPC was there as a consistent and stable source of capital. Our presence has been a catalyst for bringing new partners and sources of public and private funding together to help rebuild, strengthen, and stabilize neighborhoods from the Bronx and Harlem to New Rochelle, Downtown Syracuse and Buffalo, and countless others across the State.

It was this commitment to aiding underserved communities, our loyalty to borrowers, integrity and accountability, and attention to detail that built the foundation of our more than four decades of work, drove our turnaround, and is the foundation of the CPC brand.

Over the past few years CPC has transformed from a company in the midst of a turnaround to a fully capitalized, financially strong, mission-driven organization. We have accomplished this by paying homage to our past and recommitting to our core values while strategically pursuing opportunities to expand our tool box with new products and investment opportunities.

We are investing in the places and projects where we can be the most effective in revitalizing underserved neighborhoods, and we have returned to our central business of addressing the acute gap in the market for lending products tailored to the needs of small multifamily building owners. Once again, the diversity of our portfolio of loans is representative of the diversity of the neighborhoods we serve.

Whether the project is downtown revitalization, adaptive reuse, supportive housing, the acquisition and rehabilitation of distressed property, or the preservation of affordable housing; our years of experience and deep relationships with key government and private sector partners gives CPC the ability to maximize the potential of our customers’ multifamily projects and their impact on communities.

For many of our long-time customers, CPC was the lender of choice for their first project or their most challenging deal. It is our culture of trust and respect and our dedication to advancing the vision of our partners that allows us to grow and succeed together. With a renewed focus and a great team in place, I am confident that CPC will continue to bring value to our partners and to be a positive force in communities across New York State and the region for years to come.

 

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
Originations Director

Michael DeWitt

SVP, Regional Director
Western New York

Jeff Ely

Senior Vice President, Administration

Thomas McGrath

Senior Vice President, Director of Upstate Revitalization

Doug Olcott

SVP, Regional Director
Hudson Valley, New York

Nicholas V. Petragnani, Jr.

SVP, Regional Director
Central New York

Elizabeth Propp

Senior Vice President
Investments & Acquisitions

Robert Riggs

SVP, Regional Director
New York City & Long Island

William C. Russo

Senior Vice President, Capital Strategies

Michael Skrebutenas

SVP, Regional Director
Capital Region, New York

Jaime Sharrock

Vice President, Strategic Initiatives & External Affairs


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 Portfolio Administrator in the Servicing Team will provide loan administration and servicing for a portfolio of loans, while providing superior customer service to both internal and external customers.

For more information, apply here:

Apply

The Manager of Sustainability Programs will be responsible for overseeing CPC’s sustainability initiatives and practices. The incumbent will develop these programs under the direction of the Chief Operating Officer and others, and will be responsible for working with the origination and equity staff, borrowers and external partners to advocate for and implement sustainability measures in our projects and advance CPC’s Sustainability profile in the industry.

For more information, apply here:

Apply

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.