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.
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.
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 $11.9 billion to finance the creation and preservation of more than 220,000 units of quality housing in neighborhoods across New York State and beyond.
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.
CEO Rafael E. Cestero looks back on CPC’s biggest year yet in his Fiscal Year 2021 Annual Report Message:
The CPC Operating Committee is the primary internal management body responsible for driving CPC’s business objectives and strategic direction in support of our mission. This Committee works in close collaboration with the Board of Directors to establish organizational priorities and identify ways to expand CPC’s impact in communities.
CPC Board Chair
Managing Director
Wells Fargo Multi-family Capital
CPC Board Vice Chair
Managing Director, Acquisitions
Red Stone Equity Partners, LLC
President
Related Companies
Managing Director and Global Head of Real Estate and Asset Finance
Credit Suisse
Faculty Director
NYU Furman Center for Real Estate and Urban Policy
Senior Vice President
Bank of America
Senior Advisor (Ret.)
CCMP Capital Advisors, LLC
Real Estate/Legal Consultant
Senior Vice President – Multifamily Chief Credit Officer (Ret.)
Fannie Mae
Managing Director, Affordable Housing Acquisitions & Development
Tishman Speyer
CEO and President, Chemung Canal Trust Company
President, Capital Bank
Partner
Cannon Heyman & Weiss, LLP
The Construction Portfolio Manager manages a portfolio of affordable housing and mixed-use real estate loans; projects are located through the New York City metropolitan area, the Hudson Valley and upstate New York. The individual will be responsible for tracking and reporting on construction progress, approving construction funding, analyzing budgets, and monitoring leasing status. This person will identify risks which may delay repayment and play a proactive role in developing solutions to resolve issues.
For more information, apply here:
The Recruiter will be responsible for driving recruitment – from sourcing to offers – for a variety of positions at all levels across the business and maintain reports on the recruitment life cycle. This person will participate in various Human Resources departmental projects, as necessary.
For more information, apply here:
The Associate, Lending and Programs will support the VP, Lending and Programs with the administration of programs on behalf of NY State Homes & Community Renewal. This person will manage projects related to the growth of CPC’s construction lending platform. They will act as liaison between the Office of the President and Field Offices / Mortgage Officers and CPC Mortgage Company, on matters pertaining to lending and balance sheet initiatives.
They will also manage enterprise-wide projects including: researching industry best practices related to individual projects, developing deadline-driven project plans, assigning responsibilities, and attending project-related meetings to monitor progress, as well as provide ongoing updates regarding the status of all projects within scope of responsibility.
For more information, apply here:
The Closings Analyst will work alongside CPC’s team of field offices to execute real estate construction closings for projects that support CPC’s mission of transforming underserved neighborhoods into thriving and vibrant communities.
For more information, apply here:
The Communications Coordinator will be responsible for assisting in the day-to day operations of the External Affairs Department. The Communications Coordinator will support event coordination, the development of new and existing marketing initiatives, and brand consistency, both internally and externally.
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The Policy Associate will play a key role in advancing CPC’s unique perspective on key local, state and federal policy priorities and maintaining our role as an industry leader in affordable housing. This person will work closely with the Vice President of Policy and the Office of the CEO to develop key relationships with elected representatives and government agency leaders. They will also provide research, data analysis, and policy recommendations to support CPC’s policy and advocacy efforts.
For more information, apply here:
CPC’s Equity Investment group invests CPC’s own capital into affordable, workforce, and transformational housing developments. CPC’s investments are mission-aligned and are structured to generate appropriate returns – while also supporting the growth and success of our partners. Our investments are sometimes made directly into properties or portfolios of properties, and sometimes made indirectly into development companies or funds.
While CPC is not typically the primary operating partner, we closely manage all of our investments. The Asset Manager will track and monitor investments while participating in both tactical and strategic activities. This flexible and dynamic role supports our existing asset management platform, and will have the opportunity to grow into increasing responsibilities. The role is ideal for a developing professional eager to engage with the development, construction, financial, governmental, legal, interpersonal, and operational aspects of the real estate industry.
For more information, apply here:
The Senior Analyst will work closely with and assist the Vice President, Director of Servicing in the management of the Agency and Permanent Servicing portfolios, including assisting in the designing of processes and procedures for compliance with secondary market requirements as well as the development of industry best practices.
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The Asset Management Analyst will support the Asset Management team, which protects the value of the collateral for CPC serviced, multi-family loan portfolio (“Portfolio”). This person will identify and mitigate the credit, financial, operational, physical, and market risks impacting the properties collateralizing the Portfolio. They will support the Asset Management team with day‐to‐day risk management activities for the Portfolio. They will be responsible for organizing, administering and supporting the team’s activities with borrowers; guarantors; local, state and federal government agencies; developers; owners; managers; agency lending partners; and other industry groups to preserve the value of the multi-family housing financed by the mortgage loans.
For more information, apply here:
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.
