The lobby at Lofts Two22, a 70-unit luxury apartment building in Bayonne built by LanTree Developments
By Joshua Burd
LanTree Developments has hired a veteran industry executive to help manage its growing construction pipeline of multifamily projects.
The Lakewood-based developer on Tuesday announced the addition of Jay McDermott as vice president of construction management. In the new role, he will provide expert technical oversight for all projects in the LanTree portfolio, working closely with construction management firms and subcontractors to ensure quality work and helping the firm meet its financial goals and objectives.
Additionally, he will look to improve operating performance and develop a strategic growth plan for the organization, according to a news release. He will be closely involved in business planning, budget preparation, forecasting and financial analysis.
“We are thrilled to have Jay join our growing team here at LanTree, where we take an entrepreneurial approach to modern community building,” said Raphael Mandelbaum, principal of LanTree Developments. “He brings a wealth of knowledge from his impressive professional background, and we are eager to have him make an impact on our effort to transform underutilized land into prosperous community assets.”
McDermott spent 30 years with K. Hovnanian Enterprises, where he most recently served as area president and oversaw the development of 1,100 homes with total revenue of more than $775 million. During his tenure with the homebuilder, he was responsible for the management of more than 30 associates and oversaw a portfolio that included a 278-unit condominium high-rise in West New York.
“I’m extremely excited to embark on this next chapter of my career,” McDermott said. “I have witnessed LanTree’s rapid growth, and I’m thrilled to join a company that has become a driving force for smart development in New Jersey. The company’s ability to execute multifamily projects of varying degrees of complexity and scope will allow me to put to full use the experience and knowledge that I have gained over the years.”