Lakewood-based LanTree Developments, a vertically integrated developer of thoughtfully designed multifamily communities in urban locales throughout New York and New Jersey, has hired industry veteran Jay McDermott as vice president of construction management.
In his new role, McDermott will provide expert technical oversight for all projects in the LanTree portfolio, working closely with construction management firms and subcontractors to ensure the high quality of work that the company has come to be known for.
Additionally, McDermott will play an instrumental role in ensuring that LanTree meets all of its financial goals and objectives, while increasing operating performance and developing a strategic growth plan for the organization. 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’s extensive resume includes a 30-year career with K. Hovnanian Enterprises, where he most recently served as area president, and oversaw the development of 1,100 homes with total revenue in excess of $775 million. During his tenure at K. Hovnanian, McDermott was responsible for the management of over 30 associates, and oversaw a diverse portfolio that included a 278-unit condominium high-rise in West New York, New Jersey.
“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.”
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