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Senior Property Accountant

New York, New York 10022

Post Date: 05/17/2018 Job ID: 3632 Industry: Property Accountant, Senior Property Accountant Pay Rate: 85,000

Property Accountant

Overview

The Property Accountant will be responsible for all accounting and financial reporting and analysis pertaining to a designated portfolio of commercial properties.  The Property Accountant will report to the firm’ s Sr. Property Accountant and 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 the candidate significant opportunities for future advancement and increased responsibility as the Company grows.

Billings and Accounts Receivable
  • Responsible for all tenant rent billings and collections, including CAM, Real Estate Tax and insurance billings including related periodic reconciliations for tenants
  • Full responsibility for the collection of all property related accounts receivable, including direct contact with tenants to resolve any outstanding issues; working closing with property management and legal teams to take appropriate actions to collect AR; participate in weekly delinquency meeting with the Property management team to present the status of outstanding AR amounts

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. 
  • Review / Input New Leases; Maintain Rent Roll (Accuracy & Completeness)

Financial Reporting and Compliance
  • Responsible for the preparation of cash basis financial statements for each property, including the preparation and posting of all required month-end journal entries and reconciliations, including the following:
    • Bank reconciliations
    • Recording Management fees
    • Reconciliation of outstanding debt to bank statements
    • Capitalization of costs in accordance with IRS guidelines
    • Maintain fixed asset ledgers and rollforward of capital accounts
  • Responsible for all compliance related matters pertaining to the portfolio, including
    • 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

Acquisitions and Dispositions
  • Responsible for on-boarding new acquisitions including MRI set up; Rent / Roll - Input of Existing Leases; Initial Billing Set Up; responsible for review of prorations within closing settlement statement and preparation of opening balance sheet entry
  • Responsible for assisting in the analysis of properties that are marketed for sale

Qualifications/Requirements
  • Bachelor’ s degree in Accounting
  • 5-6 years of accounting experience with 3-5 years of direct Property Accounting experience; experience with retail and residential properties a plus
  • Experience within fast paced, deal-oriented organizations
  • Very Strong communication and interpersonal skills with ability to directly work with Executives / Department Heads to enforce appropriate policies and procedures
  • Attention to detail and proactive approach to identifying and independently resolving issues a must
  • Experience with MRI and Nexus desirable or demonstrate competency in equivalent systems.  Proficient in word, excel and PowerPoint

David Rosenblatt


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