Investment & Development Property Accountant

About the Opportunity

Our client is a vertically integrated investment, development, and management platform, They are actively looking to hire an experienced Property Accountant to join their team in Manhattan for a contract assignment. The Property Accountant in this role will be responsible for all accounting and financial reporting and analysis pertaining to a designated portfolio of commercial properties. The individual will work closely with the members of the property management, development, acquisition and leasing teams to ensure transactions pertaining to their properties are accurately recorded and effectively reported to Executive Management. This position offers a unique opportunity to work within a fast-growing organization that will allow for significant opportunities for future advancement and increased responsibility as the Company grows.

The pay range for this position is $35 to $47 per hour. Actual compensation offered to the successful candidate may vary from posted hiring range based upon geographic location, work experience, education, and/or skill level, among other things. Details about eligibility for bonus compensation (if applicable) will be finalized at the time of offer.

 

Job Responsibilities

  • Prepare cash basis financial statements for each property, including the preparation and posting of all required month-end journal entries and reconciliations
  • Bank Reconciliations
    • Reconciliation of outstanding debt to bank statements
    • Maintain fixed asset ledgers and roll forward of capital accounts
    • Prepare monthly property workpapers for review by Sr Property Accountant and Controller
  • State Monthly Tax Filings
    • Debt Compliance Reporting Requirements
    • Responsible for detailed monthly Financial Statement Review / Budget to Actual Analysis; working closely with individual Property Managers to identify and explain material budget variances
  • Oversee Billings and Accounts Receivable
    • Working closing with AR / Billing coordinator to ensure all tenant base rent, CAM, Real Estate Tax and insurance billings are issued and recorded in a timely fashion
    • Perform monthly / quarterly reconciliations to ensure all appropriate charges have been billed to tenants
    • Oversee the collection of all property related accounts receivable to ensure tenant payments are received and recorded in a timely fashion
  • Accounts Payable – Operating Expenses, Development Expenses and Debt Service Payments
    • Responsible for review of all property related expenses through Nexus; work closely with property managers to determine whether expenses are within budget / document and communicate material budget variances
    • Responsible for the timely payment of all debt service payments
    • Preparing detailed broker commission analysis / approval based on terms of commission agreement
  • Real Estate Tax Review / Analysis
    • Detailed review of property real estate tax expenses prior to payment
    • Work directly with tax advisors on preparing reassessment filings; prepare full analysis of all reassessment proposals received from taxing authorities
  • New Leasing Activity
    • Prepare new lease analysis to determine appropriate CAM and RET reimbursement % for all new leases, assessing overall impact to the overall recoverability of property expenses at the property.

 

Job Requirements

  • 2-4+ years of Property Accounting experience; experience with both commercial retail and residential properties a plus
  • Very strong communication and interpersonal skills with ability to directly work with Executives / Department Heads to enforce appropriate policies and procedures
  • Experience with MRI and Nexus desirable or demonstrate competency in equivalent systems
  • Proficiency in Microsoft Excel

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