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 $11 billion to finance the creation and preservation of 196,000 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.


President’s Message Video

President & CEO Rafael E. Cestero reflects on a year unlike any other in his Fiscal Year 2020 President’s Message.

CPC Operating Committee

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.

Rafael E. Cestero

President & Chief Executive Officer
Chair, Operating Committee

Sadie McKeown

Executive Vice President
Construction Lending & Initiatives
Vice Chair, Operating Committee

Carolyn Au

Executive Vice President
Chief Operating Officer

John Cannon

President, CPC Mortgage Company

Richard A. Kumro

Executive Vice President
General Counsel & Secretary

David Rothberg

Executive Vice President
Chief Financial Officer

Wanda Chin

Senior Vice President
Chief Credit Officer

Jeff Ely

Senior Vice President

Elizabeth Propp

Senior Vice President
Investments & Acquisitions

William C. Russo

Senior Vice President
Capital Strategies

Jaime Sharrock

Vice President
External Affairs

Field Office and Originations Leadership

Lawrence Hammond

Senior Vice President
Director of ACCESS

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

Robert Riggs

Senior Vice President
Regional Director
New York City & Long Island

Michael Skrebutenas

Senior Vice President
Regional Director
Capital Region, New York

Timothy Deegan

Vice President
Head of Agency Sales and Originations

Andrew D’Agostino

Vice President
Western New York

Board of Directors

Bruce A. Beal, Jr.*

Related Companies

Rafael E. Cestero

President & CEO
The Community Preservation Corporation

Eduardo Diaz-Perez

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

Ingrid Gould Ellen

Faculty Director
NYU Furman Center for Real Estate and Urban Policy

Todd A. Gomez

Senior Vice President
Bank of America

Michael Hegarty

Senior Advisor (Ret.)
CCMP Capital Advisors, LLC

Carol M. Joseph

Real Estate/Legal Consultant

Manuel Menendez, Jr.

Senior Vice President – Multifamily Chief Credit Officer (Ret.)

Fannie Mae

Richard Roberts

Managing Director, Acquisitions
Red Stone Equity Partners, LLC

Gary Rodney


Anders M. Tomson

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

Steven J. Weiss

Cannon Heyman & Weiss, LLP

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 will administer construction loan advances for a book of loans in connection with affordable housing projects financed by CPC and which support CPC’s mission of transforming underserved neighborhoods into thriving and vibrant communities.

For more information, apply here:


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”). The Asset Management Analyst will also identify and mitigate the credit, financial, operational, physical, and market risks impacting the properties collateralizing the Portfolio. Additional responsibilities include supporting the Asset Management team with day‐to‐day risk management activities for the Portfolio, and 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:


The role of the Mortgage Officer is to originate Construction and Permanent Loans on a basis consistent with CPC’s mission. The position is responsible for initial underwriting and analysis for appropriate risk, for actively monitoring projects through construction and conversion, and for identifying and addressing problem loans in both the construction and permanent portfolio originated by the incumbent.

The Mortgage Officer is considered the Subject Matter Expert in on affordable housing mortgage origination in their region and supports management by rendering their advice and recommendations to the leaders of the business. They are also instrumental in the creation and carrying out of management policies and procedures.

For more information, apply here:


Our staff is growing and we are currently recruiting for an Asset Manager to join our team. Although our Asset Managers are based in our office in Chappaqua, NY, we will consider remote applicants for this position.

The Asset Manager will implement the day-to-day risk management activities on the CPC multi-family Agency 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 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.