Sr. Multifamily Property Accountant

 

 

 

The Sr. Multifamily Property Accountant will support the accounting and financial reporting functions for the multifamily residential portfolio. This role will report to the Multifamily Accounting Manager and is responsible for the full-cycle property accounting process, including month-end close, financial reporting, account reconciliations, budgeting support, lender reporting, and audit preparation.

The ideal candidate will possess strong technical accounting knowledge, a collaborative approach to working with property management teams, and the ability to analyze financial results to ensure the accuracy and integrity of property-level financial reporting. This position plays a key role in maintaining compliance with company policies, lender requirements, and regulatory reporting obligations while contributing to process improvements and special projects across the multifamily portfolio.

• Responsible for month-end close/reconciliation of Accounts Receivable, Accounts Payable and other sub-ledgers.
• Review expense coding and amounts to determine accuracy and provide guidance to property management.
• Prepare monthly internal/external reports.
• Create and determine correct monthly journal entries including period-end accruals and reserves.
• Review management operating expense/contract accruals and provide guidance when necessary.
• Prepare utility accruals (determine method and provide support calculations).
• Meet with property managers to discuss and determine proper accounting treatments for operating activities and fixed assets.
• Calculate bad debt provisions and determine if adjustment is necessary for month-end close. 
• Calculate and prepare proper intercompany transfers of funds.
• Perform account reconciliations, roll forwards, and prepare supporting schedules. 
• Confirm expenditures are accurately expensed or capitalized per ESRT’s policy.
• Complete monthly bank reconciliations.
• Record mortgage payment including interest rate swap activity and confirm escrow account balances on trial balance tie to lender’s activity.
• Review cash balances and cash needs for the applicable property to fund, as needed, operating expenses, construction projects, and mortgage payments.
• Provide support/explanations for annual property audits.
• Prepare annual governmental filings, including the TC201 and RPIE.
• Assist in various quarterly ESRT consolidated reporting functions, including answering variance questions and verifying fixed asset additions and disposals.
• Assist in the preparation of draw requests for submission to lender.
• Prepare reporting packages to comply with lender reporting requirements.
• Review annual budgets from an accounting perspective, including ensuring expenditures are coded to the correct G/L and comparing budget to historical.
• Provide support for sales tax audits.
• Assist with properties outside of the REIT that ESRT manages.
• Lead and participate with ad-hoc projects.

• Timely close of monthly books and taking ownership over your workpapers
• Build and maintain relationships with property managers
• Develop full understanding of performance of assigned properties, including non- financial aspects
• Provide recommendations to address accounting issues at property

• Proficient in accounting systems, Yardi Systems is a plus
• Proficient in Microsoft Office, with strong skills in Excel
• Strong communication skills
• Strong analytical skills
• Certifications such as CPA or CMA a plus

• BA/BS degree in Accounting
• Minimum of four years accounting experience; public accounting preferred
• Real estate experience; multifamily experience is preferred

ESRT is an equal opportunity employer and is committed to providing a workplace free from harassment and discrimination. We celebrate the unique differences of our employees because they drive curiosity, innovation, and the success of our business. We do not discriminate based on race, religion, color, creed, national origin, sex, sexual orientation, gender identity or expression, reproductive choices, age, marital status, veteran status, disability status, pregnancy, parental status, caregiver status, genetic information, political affiliation, or any other status protected by the laws or regulations in the locations where we operate. This policy applies to all aspects of employment, including hiring, promotion, demotion, compensation, training, working conditions, transfer, job assignments, benefits, layoff, and termination. Reasonable accommodations that do not create an undue hardship for the Company are available for applicants and employees with disabilities or sincerely held religious beliefs.