Senior Property Accountant

Atlas Search; New York (NY); On-site; USD 85,000 - 120,000; Full time

Job summary

Atlas Search, a well-established New York City-based REIT, seeks a Senior Property Accountant to lead full-cycle accounting for a portfolio of multifamily properties. You will oversee monthly close, prepare property-level financials, perform reconciliations, and collaborate with property management and corporate teams.

The ideal candidate has 3+ years of property accounting experience, strong GAAP knowledge, and excels in accuracy and deadlines.

Qualifications

• Bachelor's degree in Accounting, Finance, or a related field.
• 3+ years of property accounting experience or public accounting with real estate clients.
• Experience with full accounting cycle for multiple real estate properties.
• Strong understanding of U.S. GAAP and real estate accounting principles.
• Experience with monthly close, financial statement preparation, reconciliations, and variance analysis.

Responsibilities

• Manage monthly, quarterly, and annual close for an assigned portfolio of multifamily properties.
• Prepare and review property-level income statements, balance sheets, cash flow statements, and schedules.
• Record and review journal entries, including accruals, prepaid expenses, depreciation, and amortization.
• Perform reconciliations of bank, balance sheet, and general ledger; resolve discrepancies.
• Review rental income, tenant charges, concessions, delinquencies, and bad debt.
• Reconcile tenant ledgers and property management reports to the GL.
• Review accounts payable and ensure operating expenses are recorded in correct periods.
• Account for real estate taxes, insurance, utilities, repairs and maintenance, payroll-related expenses, and management fees.
• Track capital expenditures, fixed assets, and capital projects.
• Prepare monthly variance analyses against budget and prior periods.
• Collaborate with property managers to investigate unusual activity and ensure accurate reporting.
• Assist with annual budgets, forecasts, and reforecasting.
• Review and reconcile security deposits, prepaid rents, and tenant balances.
• Support year-end audit schedules and auditor requests.
• Assist with corporate reporting and REIT-related accounting requirements.
• Coordinate with third-party managers to ensure timely financial information.
• Identify opportunities to improve accounting processes, reporting, and controls across the portfolio.
• Assist with acquisitions, dispositions, refinancing activities, and other projects.

Skills

Property accounting

Excel skills

Analytical skills

Communication skills

Education

Bachelor's degree in Accounting/Finance

Job description

A well-established, New York City-based REIT focused on the ownership and operation of a diversified portfolio of multifamily residential properties. The firm is seeking a Senior Property Accountant to join its growing accounting team and support the financial reporting and accounting operations of its multifamily portfolio.

This is an excellent opportunity for a real estate accounting professional to join a sophisticated investment platform and gain exposure to a significant portfolio of multifamily assets.

Position Overview

The Senior Property Accountant will be responsible for the full-cycle accounting and financial reporting for an assigned portfolio of multifamily properties. This individual will oversee monthly close activities, prepare property-level financial statements, perform account reconciliations, and work closely with property management, asset management, and corporate accounting teams.

The ideal candidate will have strong multifamily property accounting experience and a solid understanding of property-level revenue, operating expenses, capital expenditures, and real estate accounting.

Key Responsibilities

• Manage the monthly, quarterly, and annual accounting close for an assigned portfolio of multifamily properties.
• Prepare and review property-level income statements, balance sheets, cash flow statements, and supporting schedules.
• Record and review journal entries, including accruals, prepaid expenses, amortization, depreciation, and other property-level transactions.
• Perform monthly bank, balance sheet, and general ledger reconciliations and resolve discrepancies.
• Review rental income, tenant charges, concessions, delinquencies, bad debt, and other residential property revenue.
• Reconcile tenant ledgers and property management reports to the general ledger.
• Review accounts payable and ensure property operating expenses are accurately recorded in the appropriate accounting periods.
• Account for real estate taxes, insurance, utilities, repairs and maintenance, payroll-related property expenses, management fees, and other operating costs.
• Track and account for capital expenditures, fixed assets, and capital projects.
• Review property-level financial results and prepare monthly variance analyses against budget and prior periods.
• Partner with property managers to investigate unusual revenue and expense activity and ensure accurate reporting.
• Assist with annual property budgets, forecasts, and reforecasting activities.
• Review and reconcile security deposits, prepaid rents, accounts receivable, and other tenant-related balances.
• Support the preparation of year-end audit schedules and respond to auditor requests.
• Assist with quarterly and annual corporate reporting and REIT-related accounting requirements.
• Coordinate with third-party property managers and accounting service providers to ensure timely and accurate financial information.
• Identify opportunities to improve accounting processes, reporting, and controls across the multifamily portfolio.
• Assist with acquisitions, dispositions, refinancing activities, and other special projects as needed.

Qualifications

• Bachelor's degree in Accounting, Finance, or a related field.
• 3+ years of property accounting experience or public accounting experince with real estate clients.
• Preference for multifamily residential experience.
• Experience with the full accounting cycle for multiple real estate properties.
• Strong understanding of U.S. GAAP and real estate accounting principles.
• Experience with monthly close, financial statement preparation, reconciliations, and variance analysis.
• Strong Excel skills, including pivot tables, VLOOKUP/XLOOKUP, and other financial reporting functions.
• Experience working directly with property managers and operational teams.
• Strong analytical and problem-solving skills with excellent attention to detail.
• Ability to manage multiple properties and deadlines in a fast-paced environment.
• Excellent written and verbal communication skills.