Address
Form of workClient is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail and residential properties in the New York Metro area.
The privately held company owns and manages an extensive portfolio of properties including multi-building office campuses, medical office buildings, industrial/flex space and retail centers. The company's portfolio includes more than 120 commercial properties totaling over 7 million square feet.
Client also develops a wide range of residential properties including high-end luxury estate homes, high-rise condominiums and restored Manhattan townhouses.
COMP RANGE: 115,000 - 125,000 USD
Location: Westchester, NY
Key Responsibilities
Property Accounting Level
Performs all aspects of financial management for assigned properties
Prepares weekly (or daily if necessary) cash reporting as well as cash forecasting
Prepares yearly budgets (and uploads onto the Yardi system)
Prepares and coordinates, with outside accountants, year-end tax return preparation and tax workpapers including review of tax return prepared by accountants prior to release
Prepares and coordinates, with outside accountants, year-end income tax basis Audits which include workpapers and financial statement review for applicable entities
Reviews loan agreements related to properties to ensure compliance with all financial reporting and reserve requirements
Prepares monthly and/or quarterly financial reporting for submission to bank as per loan agreements for applicable entities
Prepares annual state and local reports including RPIEs, TC201s, TC309s, etc. for applicable entities
Prepares JE adjustments for property acquisitions and dispositions
Prepares monthly mortgage journal entries and ensures that proper funding is available
Performs account reconciliation of various accounts including AR, AP and equity on a monthly basis
Maintain yearly fixed asset schedules for building improvements, tenant improvements, etc.
Prepares (and/or) reviews monthly bank reconciliations to ensure that transactions are properly recorded
Reviews and signs off on all Accounts Payable invoices related to assigned properties
Reviews collection issues with Property Manager
Reviews monthly billing statements including tenant bill backs and signs off on variance report
Calculates estimated and actual year end CAM and real estate tax escalation billings
Reviews new leases / updates in Yardi and maintains both excel and Yardi rent roll
Reviews and confirms all management fee and commission calculations related to assigned properties
Upper-level Management / Accounting responsibilities
To assure that all aspects of the accounting function e.g., daily postings: receivables and payables disciplines; internal reports, tickler systems and follow-ups; coordination with CPA firm etc. are pre-formed in a timely, most efficient, and fully satisfactory manner.
Manage the preparation of periodic operating, GAAP, Accrual and TAX basis financial statements.
General Ledger maintenance up to and including maintaining balance sheet work papers for all entities.
Cause financial data from tenant leases or lease abstracts to be entered into the accounting system.
Coordinate with senior management of the company to assure that all revenue-enhancement and expense-reduction opportunities related to tenant leases are exercised.
Ability to interpret lease clauses in commercial leases of various complexity and length and build initially build CAM and RE TAX work-papers that properly account for various apex pools within the portfolio.
Ability to read interpret reporting requirements within the debt covenants of the varied debt facilities within the portfolio and ensure that we are in compliance.
Coordinate and interface with outside auditors, liaison with banking staff.
Cross train in all job functions of the junior staff and be sufficiently knowledgeable in all functions to be able to function in the job (if and when) necessary.
Finalizing, proofing and distributing all tax returns as part of a team of people (i.e. Controller, outside auditors, affiliated senior financial staff.)
Be familiarized with the various partnership / ownership structures of the portfolios entities and proof out the equity accounts.
Ability to prepare monthly cash flow projections and draft level budgets for further review and comment.
Effective cash management.
Effective financial modeling and interpretation to various outside interested parties (i.e. bank representatives, investors, partners and auditors).
Special projects as needed.
Assist in the on-going maintenance of the Policy and Procedures of the Property Accounting Department.
Other Duties
- This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities and activities may change or new ones may be assigned at any time with or without notice.
Required Skills, Education, and Experience
Bachelor degree in Accounting or other business degree with Accounting minor
7+ years of Property Accounting experience
3+ CAM required
3+ Lease Analysis Required
Yardi Voyager (Preferred)
CPA is a plus
Public Accounting (Preferred)
Reports to: Assistant Controller
Supervisory responsibilities: None
Work environment: Office Environment
Hours: 9AM to 6PM, with 1 hour for lunch
