Prestigious Real Estate Property Management firm based in New York City & Westchester seeks a Staff and Senior Real Estate Property Accountant
Job Responsibilities
The Staff Accountant will prepare and maintain financial records to track the organization’s assets, liabilities, profit and loss, tax liabilities, and other related financial activities.
Duties/Responsibilities:
Provide support to the Senior Accountant assigned to the portfolio real estate assets
Prepare monthly workpapers for balance sheet accounts and budget comparison income statements
Maintain the general ledger.
Reconcile bank accounts monthly, verifies deposits, and addresses inquiries from banks.
Reconcile cash disbursement accounts, payroll, customer accounts, and other financial accounts
Calculate monthly management fees.
Provide outside auditors with assistance; gathers necessary account information and documents to perform annual audit.
Prepare financial statements for annual filings with various municipalities.
Maintain knowledge of acceptable accounting practices and procedures.
Perform other related duties as assigned.
Core Competencies
Formal Education Bachelor degree preferred-
Experience 1-3 years
Additional Comments on Knowledge, Education, and Experience
Bachelor’s Degree in Accounting (preferred)
1-3 years of relevant experience (required)
Experience in commercial accounting (preferred)
Excellent verbal and written communication skills.
Excellent organizational skills and attention to detail.
Knowledge of general financial and real estate accounting.
Understanding of and the ability to adhere to generally accepted accounting principles.
Proficient with Microsoft Office Suite and accounting software
Intermediate Yardi skills or similar software (preferred)
Senior Accountant
Job Description
The company is a full-service, privately held commercial and residential real estate investment and development company with a distinguished resume and reputation established over five decades.
For more than 25 years, the company has been designing, building, financing and managing successful medical office and healthcare facilities for some of the New York Metropolitan Area’s largest and most prestigious hospitals and medical practices. Simone specializes in creating custom-designed leading edge healthcare facilities including Ambulatory Surgical Centers, Cancer Treatment Centers, Radiology Centers, Urgicare Centers and Medical Specialty Offices
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 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 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 opex pools within the portfolio.
- Ability to read interpret reporting requirements within the debt covenants of the varied debt facilities within the portfolio and insure 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.
- 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 (ie bank representatives, investors, partners and auditors).
- Special projects as needed.
Other Duties
Required Skills, Education, and Experience
Bachelor degree in Accounting or other business degree with Accounting minor
5+ years of Property Accounting experience
3+ Lease Analysis (preferred)
Yardi Voyager (Preferred)
CPA is a plus
Public Accounting -a plus
Compensation is 125-135K+
Interested candidates contact:
Stan Hamlet
sh@stanhamlet.com
914-953-9028
212-685-4884
