Leadership

A recognized leader in the community development finance industry, Rafael E. Cestero brings more than 30 years of experience in tackling the most pressing housing challenges cities across the nation are facing. Upon joining The Community Preservation Corporation (CPC) in January of 2012, Mr. Cestero put his extensive background in the public and private sectors to work leading the organization through a significant restructure and capitalization process following the great recession. His work with senior leadership and board of directors led to the company’s return to financial strength and renewed focus on its mission and the expansion of its social impact in New York State and throughout the Northeast. As a AA- S&P rated company, CPC now stands as one of the most financially strong and impactful nonprofit multifamily finance companies in the country. To strengthen CPC as a self-sustaining nonprofit, Mr. Cestero focused on diversifying its capital sources as a means to provide the company with additional flexibility and financial strength to support its growth and mission of creating a positive impact in communities. This included the creation of its Agency lending subsidiary, CPC Mortgage Company, which carries nationally licensed GSE lending products focusing in small balance loans and affordable housing preservation. In 2020 CPC also raised $150 million through its inaugural public offering of sustainability bonds, the largest such bond raise executed by a community development financial institution (CDFI) at the time. That year, the company also became the first real estate nonprofit to achieve carbon neutral operations, demonstrating CPC’s commitment as a leader in advancing sustainability and energy efficiency within the industry. Through its construction lending, Agency lending, and equity investing activities, CPC has provided more than $11 billion to finance over 196,000 units of affordable and workforce housing, and is currently one of the largest CDFIs solely dedicated to multifamily housing finance. Prior to joining CPC, Mr. Cestero was Managing Director at L+M Development Partners, a leading developer of affordable and mixed-income housing committed to fostering diverse communities through its development practices. While there, he led efforts to bring the company’s experience and capacity to the business of preserving New York City’s affordable multifamily housing stock. From February 2009 to April 2011, Mr. Cestero served as Commissioner of the New York City Department of Housing Preservation and Development (HPD), the largest municipal affordable housing development and housing code enforcement agency in the country. He simultaneously served as chairman of the board for the New York City Housing Development Corporation, the nation’s largest municipal Housing Finance Agency. He also served as HPD’s Deputy Commissioner for Development from 2004-2007. During his tenure at HPD, Mr. Cestero helped implement and oversee Mayor Michael R. Bloomberg’s New Housing Marketplace Plan, a multi-billion-dollar initiative to finance the creation and preservation of 165,000 units of affordable housing. He led the creation of a $750 million program to identify and stabilize distressed rental housing, and recast the housing plan in 2010 to focus on preservation in order to take advantage of the market conditions caused by the great recession. He helped launch innovative programs and policies such as the Inclusionary Housing Program, the NYC Acquisition Fund, and led the overhaul of the 421-a tax incentive program. Mr. Cestero’s career in community development began at Enterprise Community Partners (f.k.a. The Enterprise Foundation) in 1990 as a Chief Program Officer where he cut his teeth in affordable housing development, rising through the organization over the course of his 14-year career there. In 2007, Mr. Cestero was named Senior Vice President and Chief Program Officer – a capacity he served in until 2009 and his departure to take over the leadership role at HPD. During that time, he led the program/business unit comprised of all 16 field office locations, national programs, and strategic planning and resource allocation. This included overseeing housing production, income targeting and quality of life measures across the Enterprise network. Mr. Cestero is a regular voice in the media on topics related to housing policy, and has had editorial content published in The Hill, New York Daily News, Crain’s New York, The New York Times, City Limits, and others. He is also frequently asked to collaborate with various government and nonprofit partners on matters pertaining to the creation of housing programs and policies on the local, state, and federal levels – including GSE reform, homelessness, affordable housing, and zoning. Mr. Cestero currently serves on the CPC board of directors, the National Association of Affordable Housing Lenders board of directors/sustaining member, Citizens Housing and Planning Council board of directors, Morgan Stanley advisory board, YMCA real estate committee, NYU Furman Center annual advisory board. A native of Rochester, New York, Mr. Cestero received a Bachelor of Science in Public Policy Analysis from Cornell University, and earned a Master’s Degree in Urban Planning from the University of Illinois at Urbana-Champaign.

Sadie McKeown is the President of The Community Preservation Corporation. In this capacity she leads the development and implementation of CPC’s growth strategy and oversees all of the company’s field offices, initiatives, and its equity and impact investing platforms. Sadie also works closely with the president of CPC Mortgage Company, CPC’s Agency mortgage lending subsidiary, to align all of the company’s products and tools under the overall CPC brand. Prior to her taking on the role of President in January 2022, she served as Executive Vice President and Head of Construction Lending and Initiatives where she led the company’s construction lending activities including the operation of its six New York field offices and its numerous initiatives. Sadie started her career at CPC as a Mortgage Originator in 1992, and later served as Senior Vice President and Director of Lending in CPC’s Hudson Valley Regional Office. During that time, she led the company’s Downtown Main Street initiatives, collaborating with municipalities and community stakeholders to help revitalize cities like Beacon, NY that had been struggling to recover from decades of economic disinvestment. In 2009, Sadie helped create the company’s Green Financing Initiative, the precursor to what would eventually become CPC’s comprehensive sustainability practice. In 2011 she was elevated to SVP, Director of Originations where she assumed responsibility for the lending activities of all of the company’s field offices. As EVP, Chief Operating Officer, a position she held from 2012-2019, Sadie oversaw all aspects of the company’s operations while still leading its construction lending and sustainability platforms. She also drove the development and launch of CPC’s Agency lending subsidiary, CPC Mortgage Company LLC, a full-service operation focusing on Freddie Mac, Fannie Mae, and HUD/FHA lending products. Throughout her career, Sadie has been a fierce advocate for moving the real estate industry and built environment towards carbon neutrality. Sadie has worked hard to have CPC and other lenders to focus on addressing energy performance, efficiency and decarbonization as a part of the first mortgage process.  She has overseen the development of numerous guides, tools, and case studies to help lenders, owners, and developers understand the benefits of energy efficient construction and retrofits; including CPC’s “Underwriting Efficiency Handbook” and its companion guide titled “Financing High-Performance” which focus on guiding lenders and developers through the underwriting efficiency methodology for both retrofit and new construction projects. Sadie also led CPC’s partnership with New York City Department of Housing Preservation and Development (HPD) and private partners on a Passive House study that aimed to demystify the economics and environmental benefits of Passive House. The ongoing study is collecting cost and performance data for passive house projects in the Northeast United States. Sadie currently sits on the boards of the New York State Housing Finance Agency, New York State Energy Research and Development Authority (NYSERDA), and New York City Energy Efficiency Corporation (NYCEEC), as well as on the New York State Climate Action Council’s Energy Efficiency and Housing Advisory Panel and the NYSERDA Technical Advisory Group for the Electrification Roadmap. She is a frequent guest on panel discussions related to sustainability in the built environment, as well as multifamily and affordable housing issues. She has contributed editorial content to publications such as Crain’s New York Business and The Business Journals. Sadie earned her Master’s Degree in Human Services Administration with a concentration in Housing from Cornell University. She received her Bachelor’s Degree in Communications from Fordham University.

As president of CPC Mortgage Company, Nicole Ferreira leads the nation’s only nonprofit-owned Agency mortgage lender bringing social impact and a nonprofit mission to the mortgage lending industry. This innovative model leverages the unique expertise of its owners, the Community Preservation Corporation, Cinnaire, and National Equity Fund, with the goal of bringing flexible capital to communities to expand and preserve affordable and workforce housing. It is the only nonprofit-owned mortgage lender offering a suite of Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) multifamily finance products. Ferreira joined CPC Mortgage Company having built an impressive track record of success in leadership positions across the housing and community development industry. Most recently, she served as Executive Vice President of Development at Beacon Communities where she oversaw the development and preservation of affordable housing throughout New York and Connecticut. Ferreira has also served as Senior Vice President of Multifamily Finance and Development at New York State Homes and Community Renewal (HCR), where she oversaw all HFA multifamily lending and debt issuance. Before joining HCR, she was Executive Vice President for Real Estate Development at the New York City Housing Authority (NYCHA), where she closed one of the largest public housing revitalization transactions in the country, and led the team responsible for creating the 10-year strategic plan to repair NYCHA’s aging building stock and stabilize the agency’s finances. Ferreira serves on the board of directors of the New York Housing Conference and is a member of the Association of Latino Professionals for America (ALPFA). She is an adjunct professor at the Pratt Institute’s Graduate School of Real Estate in Brooklyn, NY and has also taught graduate classes at NYU Schack Institute of Real Estate and Columbia University’s School of International and Public Affairs. She received a B.A. in political science and government from NYU and a master’s in real estate development from NYU. Nicole has a love of the outdoors and can often be found traveling to hike/bike/paddle with her wife and dogs in their camper van. However, skiing is her favorite outdoor pastime and she cherishes spending time with friends and family in the mountains.

David Rothberg is Executive Vice President and Chief Financial Officer for CPC. In this role he oversees the company’s Finance Department, including Investor Reporting, Accounting, Treasury Operations, and corporate finance responsibilities. In addition, CPC’s credit function reports to David, who is largely responsible for managing the risk associated with the company’s lending portfolio. As a member of CPC’s Operating Committee, David partners with senior leadership to oversee CPC’s strategic investment and capital allocation decisions. He provides expertise and strategic guidance to several Board Committees in areas related to capital allocation, risk, and the annual audit. In addition, David serves as a voting member on CPC’s Credit Committee and Investment Committee. Prior to joining the company in 2012 as Senior Vice President, Financial Planning and Analysis, David worked for CPC as a consultant with the Capstone Advisory Group. He played an instrumental role in assisting the company with its restructuring during Credit Agreement negotiations, the development of its business plan, and ultimate recapitalization. In his former role as a Director at the Capstone Advisory Group, Mr. Rothberg was responsible for providing financial restructuring advisory services to the company’s clients. While there, he represented creditors and creditors’ committees including secured lenders, banks, financial institutions, lender groups, bondholders and unsecured creditors, as well as debtors through the bankruptcy process. During a nine-year career with The CIT Group, Mr. Rothberg served in numerous positions including Vice President, Business Development Officer and Vice President, Underwriter within the National Restructuring Group, as well as Assistant Vice President, Portfolio Manager – Underwriter within the Business Capital / Loan Purchasing and Commercial Services groups. Mr. Rothberg earned his Bachelor of Arts in Economics from Duke University.

Erin Burns-Maine is CPC’s Chief of Staff, Vice President of Policy and Advocacy. In this role, Erin works directly with the company’s CEO to provide oversight and guidance on priority projects and strategic initiatives and serves as a liaison to management, staff and other key partners. Erin is also responsible for crafting the company’s policy agenda and working with a diverse set of stakeholders to advance CPC’s pro-housing and neighborhood-based policy priorities at the city, state and federal levels. Prior to joining CPC, Erin served as Senior Director, Policy and External Affairs at the New York City Housing Authority (NYCHA), the nation’s largest public housing authority which serves more than 400,000 New Yorkers at 236 properties throughout the five boroughs. While at NYCHA Erin was responsible for directing the Housing Authority’s Federal Affairs agenda, setting budget and legislative priorities, analyzing regulatory changes, and managing partnerships with the New York Congressional Delegation, the U.S. Department of Housing and Urban Development (HUD), federal advocacy and trade organizations and local elected officials and partner agencies. Her work also included assembling strategic teams to advance priorities which have included NYCHA’s preservation plan, criminal justice policy and child welfare partnerships, and tracking rulemaking related to immigration. In addition to her work at NYCHA, Erin has held a number of positions where policy and housing intersect. She has served as the Director of State Policy for the Corporation for Supportive Housing (CSH), identifying and advancing policy priorities in 43 states. While at CSH, she also provided technical assistance on better alignment of public systems to serve the most vulnerable individuals, youth, and families in New York and New Jersey. Erin began her career working in housing and community development at the Women’s Housing and Economic Development Corporation and the Central Massachusetts Housing Alliance. Erin holds a Bachelor of Arts in Sociology and Master of Arts in Community Development and Planning from Clark University, and completed the Fellowship for Emerging Leaders in Public Service at New York University’s Wagner School of Public Service.

Lawrence Hammond is Senior Vice President, Director of ACCESS. In this capacity, Lawrence is working closely with CPC’s leadership team and Board of Directors to operationalize and manage a $20 million pool of funds which will focus on making investments in low-income communities and creating opportunities to empower minority real estate entrepreneurs across New York State and the region. Mr. Hammond joined CPC as Vice President and Mortgage Officer in the New York City Originations Office in 2015, after more than 30 years with various financial institutions inclusive of Popular Community Bank, Bank of New York Mellon, and JP Morgan Chase Bank. At CPC, he has distinguished himself as an expert in affordable housing and multifamily finance, working with borrowers on some of their most challenging projects. As an ordained minister, Mr. Hammond has also focused on building relationships with, and advising faith-based organizations who are interested in developing housing as part of their mission to serve the community. Mr. Hammond earned a Doctorate of Ministry and Masters of Divinity from New York Theological Seminary and a Bachelor of Science from Long Island University Brooklyn campus. He serves as chair of the Board of Trustees for New York Theological Seminary.

Monique Jefferson is an expert in human capital management with an instinct for determining the impact of organizational change, particularly on marginalized groups. She is a results-oriented, proven human resources executive with over 20 years of global experience in the financial services, legal, Insurance, media, non-profit and professional services industries. She provides strategic input and guidance to leadership teams to drive growth, ensuring alignment of organizational objectives with human capital considerations while maintaining a strong focus on diversity, equity and inclusion. Monique has led regional and global teams to deliver value-add human capital solutions to c-suite executives. Her primary areas of expertise include talent and performance management, compensation, leadership development, diversity, equity, inclusion & belonging, talent acquisition, executive coaching, cultural change, employee engagement, training, employee and labor relations. Monique currently serves as Chief People Officer of Community Preservation Corporation (CPC) (a Community Development Financial Institution (CDFI) within the multifamily affordable housing sector) where she develops the human resources strategic plan and builds a culture that will enable CPC to attract, engage, grow and retain a high performing, diverse workforce. Monique previously served as the Chief Human Resources Officer of New York Public Radio, the second largest public media company in the U.S., where she led a culture transformation and implemented the first Race Equity Action plan for the organization. She has also served as the Head of HR for Business Services across the Americas region and head of the global HR business partner function for Hogan Lovells, an AmLaw 25 international law firm. Additionally, Monique was Vice President of Human Resources and senior HR business partner at New York Life Insurance Company. As a Senior HR Business Partner, she led a team that provided HR client support to all corporate functions and was the strategic HR advisor to 5 executive management committee members including the enterprise CFO, General Counsel, Chief Risk officer, Chief Compliance Officer and Chief Actuary. Prior to joining New York Life Insurance in 2009, Ms. Jefferson spent over seven years with Merrill Lynch in the Global Markets & Investment Banking division. In 2008, Ms. Jefferson was promoted to Director of human resources where she was the senior HR relationship manager for Investment Banking covering the domestic offices, Latin America, Canada and the Financial Institutions group globally. Before going to Merrill Lynch, Monique worked at Bristol Myers Squibb pharmaceuticals as a sales staffing specialist and manager of leadership development. In 1998, Ms. Jefferson also worked at PricewaterhouseCoopers as a resource manager where she handled the internal mobility and career development of associates and interns within the assurance practice. Ms. Jefferson began her career as a financial auditor in the New York office of Ernst & Young LLP. Ms. Jefferson is a certified Senior Professional in Human Resources (SPHR & SHRM-SCP) and was an instructor at the New York Institute of Technology, where she taught the SHRM learning system course for the PHR/SPHR exam. She is also an executive coach and is certified in The Leadership Circle Profile. Ms. Jefferson graduated from Bentley University with a Bachelor of Science in Accounting and holds a Master of Science in Human Resources Management from the New School University. Ms. Jefferson is a recipient of the Harlem YMCA Black Achievers in Industry recognition, The Network Journal’s 40 under 40 and 25 Influential Black Women in Business awards, Get5 HR Hero award for outstanding volunteerism, EMpower Ethnic Minority top 100 executives, and Crain’s New York HR Notable. She is an active member of the Society for Human Resource Management (SHRM), the Brooklyn chapter of The Links, Incorporated, board member and past President of the CALIBR Global Leadership Network, past board member of the National Association of African Americans in Human Resources (NAAAHR) greater NY chapter and is a member of the New School alumni advisory council. Additionally, Ms. Jefferson has served on the board of trustees for the Lefferts Gardens Charter School, where she was board chair from 2011 – 2013.

Tell Metzger is Senior Vice President, Equity Investments. In this role, he leads CPC’s equity investing platform including the sourcing, evaluation, and management of deals in accordance with the company’s investment objectives. CPC’s equity investing platform seeks to invest alongside like-minded partners to promote responsible, long-term ownership of multifamily buildings to ensure that they will remain as financially strong and physically sound homes for their tenants. Before joining CPC, Metzger was the Managing Director of Market-Rate and Mixed-Income Housing at L+M Development Partners where he founded and managed a team that oversaw the development of more than $2 billion of new-construction, mixed-use properties in and around New York City. He was also responsible for managing relationships with New York City and State agencies, lenders, equity providers, and partners. From 2005-2015, Metzger served as Senior Project Manager at L+M, where he directed the development of 700 units in mixed-use, affordable, and mixed-income rentals, condominiums, and townhouses. Metzger received his Master’s degree in City Planning from the Massachusetts Institute of Technology, and his Bachelor’s degree in Psychology and History from Brown University.

Malini Nayar joined CPC in April 2022 as SVP, Chief Credit Officer.  In this capacity, she is responsible for credit review and approval of CPC’s loans and for the overall quality of the loan portfolio.  Prior to joining CPC, Malini served as the Chief Credit Officer at Local Initiatives Support Corporation (LISC), overseeing credit, closing and portfolio management of LISC’s on-balance sheet loan portfolio.  At LISC, Ms. Nayar also structured and stood up off-balance sheet vehicles combining private and public capital to support outside-the-credit-box loan products, supported originations and led efforts to make LISC’s credit policy more equitable.  Malini has nearly two decades of experience in the Community Development Financial Institution industry, having held positions at Enterprise Community Loan Fund, Inc., Nonprofit Finance Fund and Seedco (TruFund) where she was responsible for lending to affordable housing projects, charter schools, community health centers and small businesses. Ms. Nayar has a Master’s degree in Public Policy and Management from Carnegie Mellon University, Pittsburgh and a BA in Finance from Bangalore University in India.

Jaime Sharrock is Senior Vice President of Strategic Communications and Community Engagement at CPC.  In this role she oversees strategic communications, external affairs, philanthropy, volunteering, public policy, and government relations. Ms. Sharrock also works closely with the Executive Team to develop and implement organizational priorities in support of CPC’s mission and business plan. In 2020, Jaime led the development and launch of CPC Connections, the company’s platform for corporate giving, knowledge sharing, and fostering staff connections to the CPC mission and the communities it serves.   Ms. Sharrock has also overseen various strategic initiatives including the company’s Disaster Recovery and Sustainability programs. Ms. Sharrock joined CPC in 2012 as Chief of Staff to the President and CEO, where she worked on a broad array of the company’s operational issues. She also served as Deputy Chief of Staff to the Commissioner at the New York City Department of Housing Preservation and Development, worked at Enterprise Community Partners, and was a Development Analyst at the Jersey City Housing Authority. Ms. Sharrock holds a Master’s Degree in Urban Planning from New York University and a Bachelor’s Degree from Providence College.

Doug Olcott is Senior Vice President and Director of Lending of CPC’s Hudson Valley Region office. In this capacity, he oversees the lending process from origination through underwriting, construction supervision, and conversion to permanent financing. Mr. Olcott has been with CPC for nearly 20 years and previously served as Senior Vice President and Mortgage Officer.  In that role, he focused on mid to large construction and permanent transactions. Specifically, he focused on neighborhood and community development initiatives, working with private developers, not-for-profits, and government agencies to develop financing packages for local projects in the Hudson Valley region. Prior to joining CPC, Mr. Olcott was the Community Development Director for Orange County, one of CPC’s public partners in the region. Before that, he worked at the New York City Department of Housing Preservation and Development (HPD) in the agency’s Bronx office. Mr. Olcott earned a Master’s degree in Urban Planning from Columbia University and his undergraduate degree from Colgate University.

Robert Riggs is Senior Vice President and Regional Director of CPC’s New York City Originations division where he is responsible for the company’s lending operations throughout New York City and Long Island. In this capacity he oversees the lending process from origination through underwriting, construction supervision, and conversion to permanent financing. Mr. Riggs works hand-in-hand with numerous mission-driven partners at the state and local levels as well as non-profit organizations that contribute to the financing of affordable housing loans. Mr. Riggs joined CPC in 2000 as a Mortgage Officer for the Brooklyn Region, where he originated $250 million in the financing of affordable housing. In 2006, Mr. Riggs opened a new CPC office in Trenton, and in 2008 became the company’s Brooklyn Regional Director. Prior to joining CPC, Mr. Riggs spent four years at the Federal Reserve Bank of New York analyzing strategies for private lending and investment in urban communities. Mr. Riggs earned a Master’s degree in Urban Planning from Columbia University and a Bachelor of Arts in Architecture from Princeton University.

Nicholas V. Petragnani, Jr. is CPC’s Director of Upstate Revitalization. Previously, he served as Regional Director of CPC’s Central New York office in Syracuse . In this role, Mr. Petragnani focused on the financing of new and existing multifamily rental housing, and new or redeveloped for-sale housing targeted to both low and moderate income and conventional markets.  In 2009 he assumed the role of Regional Director for CPC’s Western New York regional operations where he is responsible for overseeing all lending activities. Upon joining CPC in 2003, Mr. Petragnani focused on efforts to revitalize Downtown Syracuse. Considered a high-risk venture at the time, he partnered with the City to develop a former factory site into a market-rate project featuring loft rental apartments. This innovative effort helped drive investment in the area and spurred the creation of other attractive and affordable residential developments in Downtown Syracuse. Before joining CPC, Mr. Petragnani was a Director in the Economic and Community Development Division of Fiscal Advisor & Marketing, Inc.  He also served as Vice President of the Community Initiatives Development Corporation (CIDC), and from 1994 to 1996 was the Assistant Director for Business Retention for the City of Syracuse’s Office of Economic Development. Mr. Petragnani earned a Bachelor’s degree in Business Administration from St. Bonaventure University.