Property Accountant

A growing Real Estate developer based in Queens is seeking an experienced property accountant to handle all aspects of commercial property management accounting. The Property Accountant will be responsible for cash management, accounts payable, accounts receivable, real estate taxes, and mortgage payments. Ideally, the Property Accountant has experience with NNN leases.

RESPONSIBILITIES:

• Prepare monthly/quarterly/annual financial reports for managed properties.
• Ensure all accounts payable and accounts receivable are completed in an accurate and timely manner.
• Monitor cash daily to ensure that all transactions are properly recorded and adequately funded for upcoming cash requirements.
• Prepare monthly bank reconciliations.
• Record monthly principal, escrow, and interest payments based on loan statements and ensure that balances are reconciled.
• Prepare monthly tenant billings, including the preparation of true-up of CAM and real estate taxes.
• Monitor major recurring expenses such as payment of utilities and real estate taxes.
• Calculate monthly distributions and/or preferred return payments to investors.
• Assist with financial statement preparation and year-end audit and tax work papers for outside accountants.
• Prepare and file Real Property Income and Expense ("RPIE") statements for NYC jurisdictions.
• Effectively communicate with other departments to ensure all accounting matters are properly addressed.
• Assist with special projects as needed.

REQUIREMENTS:

• 5+ years of accounting experience in the real estate industry,
• Experience in US GAAP, such as bank reconciliations and general ledger, including journal entries.
• Strong knowledge of Excel is required.
• Experience with Yardi is preferred.
• Must be organized, hands-on and detail-oriented with strong interpersonal and communication skills.

The Fair market Assumption for this role's base salary is between $100,000 and $120,000 annually.

The above salary range represents Cobalt's good faith and reasonable estimate of the possible base compensation range at the time of posting and is one part of the total rewards package this client provides to employees.

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