POSITION SUMMARYThe 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.
RESPONSIBILITIES- 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
WHAT SUCCESS LOOKS LIKE- 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
REQUIRED SKILLS / ABILITIES- 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
EDUCATION & EXPERIENCE- BA/BS degree in Accounting
- Minimum of four years accounting experience; public accounting preferred
- Real estate experience; multifamily experience is preferred
PHYSICAL REQUIREMENTS- Prolonged periods of sitting at a desk and working on a computer
- Must be able to lift up to 15 pounds at times
WHAT YOU CAN EXPECT- At ESRT, like our tenants, our employees come from everywhere. We foster a collaborative work environment that captures top talent and cultivates the best ideas. As a Great Place to Work® Certified employer, we are committed to maintaining our positive work culture where employees are engaged and can grow and develop. In addition, ESRT employees embody our Company Culture & Success Factors -
- Adaptable - you are a self-starter who's able to quickly digest and execute new processes to work both collaboratively and independently
- Dynamic - you are solutions-oriented, aim to improve processes and implement efficiency, and offer insightful feedback to improve ESRT
- Dependable - you take a strong sense of ownership and accountability over your work
- Passionate - you keep up with industry trends and are excited about the potential to propel the industry forward with a "roll-up-your-sleeves" attitude
- Curious - you consistently look for new ways to work smarter, not just harder
- Ethical - you treat others with respect, act with integrity in how you perform your work, and embrace our collaborative culture
- Positive - you possess a service-oriented attitude with excellent follow through
BENEFITS- Competitive base salary and bonus
- Health/Dental/Vision insurance
- Company sponsored Life, AD&D, STD (with Salary Continuation), and LTD Insurance
- Voluntary Enhanced LTD Program
- Voluntary Hospital, Accident, and Cancer Programs
- 401(k) with 100% match up to 5%
- Paid parental leave
- Pre-tax transit accounts
- Employee Assistance Program for emotional, financial, and legal support
WELL-BEING- Generous paid time off
- Flex Summer Fridays
- Employee engagement programs
- Volunteer time off
- Continuing education
- Complimentary Empire State Building Observatory access
- Complimentary gym membership and other wellness benefits
- Employee Discount Programs
$110,000 - $125,000 a year
