Real Estate Private Equity - Senior Property Accountant
C&C Apartment Management LLC, established in 2004, manages the day to day operations of over 13,000 affordable housing residential dwelling units across nearly 350 multi-family properties throughout the country with the highest concentration of properties located in New York City and the tri-state area. Currently, the C&C portfolio is comprised of affordable market rate, mixed market rate, full tax credit/affordable properties as well as commercial asset classes. We pride ourselves in providing a full breadth of management services to improve and enhance a property’s revenue, cost control measures, maintenance, financial reporting, and resident relations. C&C is recognized as an industry leader in regards to the management and operation of real estate.
C&C also has responsibility for managing most of the Company’s commercial assets, which are primarily composed of retail spaces and parking garages. We currently provide management oversight for over 3,500 total parking spaces, as well as storage and bicycle rooms.
C&C is the management subsidiary of L+M Development Partners Inc. Since 1984, L+M has been a pioneer in mixed-income, market-rate and mixed use developments that revive and transform neighborhoods. L+M is responsible for more than $7 billion in development, construction and investment and has acquired, built or preserved more than 22,000 high quality residential units in New York’s tri-state area, the west coast and gulf coast regions. L+M Development Partners’ mission is to develop, build, and manage innovative, quality housing with integrity while improving communities and transforming neighborhoods where we work. We are a double bottom line Company, where our success is measured not only in financial returns but also by the positive impact we make.
C&C primarily serves as steward of the Company’s assets across a broad portfolio of varying economic conditions and requirements. It’s ‘clients’ consist of both internal asset management/ownership and external joint-venture partners. In addition, the highly-regulated nature of approximately 80% of the portfolio means that various tax credit investors, housing financing agencies are involved in oversight.
- Develop annual budgets with possible reforecasts during the year in conjunction with property manager, and asset manager.
- Prepare, review and analyze monthly property financial statements for accuracy and completeness.
- Review and analyze monthly financials statements and trial balances prepared by third party property managers for accuracy and completeness.
- Serve as a trusted information resource and liaison to asset management, investment partners, and acquisitions team.
- Assist asset manager with detailed financial analyses.
- Explain budget variances and answer asset manager / investor questions.
- Prepare and post monthly and year-end journal entries.
- Prepare, review and analyze all monthly schedules supporting the Balance Sheet and Income Statement, including accumulated depreciation, mortgage amortization schedules in accordance with loan agreements, accrued expenses, aged receivables, aged payables and deferred revenue.
- Prepare income statements and also keep records of transactions and their entry in the computerized accounting databases, including Yardi and reports developed in Excel or other software programs.
- Classify and maintain financial files and records, according to the year and ensure that they are stored in an appropriate record retention format.
- Reconcile payable accounts, receivable accounts and prepare or review journal summaries.
- Coordinate annual financial audits and work closely with external auditors to ensure timely and successful complete.
- Post external auditor’s year end journal entries and reconcile beginning year general ledger balances.
- Review coding of general ledger accounts at least once quarterly.
- Review of AR schedule and corresponding allowance account. Prepare write-offs quarterly.
- Analyze escrow and reserve account to determine appropriateness of amounts. Coordinate with lenders on reserve draws and funding.
- Reconcile and track tenant security accounts.
- Review tenant leases/rent roll and escalations. Prepare chargebacks as allowed in lease.
- Review cash reserves on a monthly basis and advise asset manager of any issues and concerns as needed.
- Recording and maintenance capital expenditures, depreciation, and equity contributions/distributions.
Knowledge, Skills, and Abilities:
- Requirements: BA in accounting, CPA a plus
- 5-10 years of experience in real estate accounting
- Keen interest in private real estate investment and property management and an entrepreneurial mindset
- Proven strong work ethic and ability to work independently and within a team
- Excellent attention to detail, organization skills and ability to prioritize multiple tasks
- Professional written and oral communication skills
- Desire to learn and grow professionally
- Must have a thorough knowledge of Yardi, Excel and other software required for execution of the referenced duties
This position will divide its time and efforts between the parent company L&M and the subsidiary C&C.Submit Resume
AR Staff Accountant
Position: AR Staff Accountant
Direct Report: AR Manager
Indirect Report: CFO
Overall Responsibility: All aspects of security deposits; collections, posting and reconciliation.
Assist in other areas of the AR Dept.
Areas of Responsibility and Job Requirements:
- Process security deposit refunds or apply security deposit to arrears and/or transfer security deposit funds to the operating account.
- Security deposit reconciliation and transfer security deposit payments from operating account to security deposit account.
- Open/close new bank accounts as required.
- Open/close new bank accounts as required.
- Respond to tenant billing inquiry and be able to return tenants and condo owner telephone calls on a daily basis.
- Highly detailed oriented.
- Ability to work in a fast paced environment with minimal supervision from manager to accomplish objectives.
- Ability to work cooperatively and collaboratively with all levels of employees and management.
- Knowledge of Excel, MS word and general computer skills are required.
- Yardi is plus.
- Associates in accounting (2+ Years of Accounting Experience)
- BA Accounting (No Experience Needed)
Years of Industry Experience Required: