Sr. Multifamily Property Accountant

COMPANY SUMMARY

Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT’s flagship Empire State Building, the “World's Most Famous Building,” features its iconic Observatory that was declared the #1 Attraction in the World – and the #1 Attraction in the U.S. for the third consecutive year – in Tripadvisor’s 2024 Travelers’ Choice Awards: Best of the Best Things to Do. The Company is the recognized leader in energy efficiency and indoor environmental quality. As of September 30, 2024, ESRT’s portfolio is comprised of approximately 7.8 million rentable square feet of office space, 0.7 million rentable square feet of retail space and 732 residential units.  More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, TikTok, X, and LinkedIn.

The dedicated team at ESRT is a collection of diverse individuals with a shared passion for excellence and a keen eye toward future growth. Headquartered in New York City, we harness the energy of the city in everything we do. We care for one another, work hard, and have a lot of fun doing it! We are Certified™ as a Great Place to Work® by the global authority, Great Place to Work®, on workplace culture, employee experience, and leadership behaviors. We prioritize and invest in the health and wellness of employees to attract, develop, and retain top-tier talent. ESRT values continuous employee development and encourages colleagues to excel in their roles and adapt to emerging business needs. From our crown jewel, The Empire State Building, to incredible buildings modernized for the 21st century, to outstanding customer service, and our decade-long leadership position in sustainability and energy efficient portfolio that is 100% fully powered by renewable wind electricity, we take pride in our work. ESRT seeks an equally passionate colleague to join the team, understand the vision and help achieve that vision.

POSITION SUMMARY 

Empire State Realty Trust (ESRT) is seeking support for the Multifamily Accounting Manager. The Sr. Multifamily Property Accountant reports to the Multifamily Accounting Manager and is responsible for the day-to-day review of property accounting for ESRT residential properties.

• Review and update monthly financial workpapers from our third-party portfolio manager who handles the day-to-day accounting for multi-family properties
• Upload our third-party portfolio manager ’s data file in ESRT’s Yardi
• Confirm mapping between our third-party portfolio managers and ESRT’s G/L is complete and accurate
• Confirm expenditures are accurately expensed or capitalized per ESRT’s policy
• Confirm revenues and expenses are coded to the correct G/L
• Confirm fixed assets were added to the Depreciation Expense schedule accurately, including verifying building group classification, cost basis, placed-in-service date, and recovery period in accordance with ESRT’s policy
• Reconcile fixed asset account balances against the Depreciation Expense schedule and document and resolve variances
• Review/complete monthly bank reconciliations
• Confirm mortgage payment including interest rate swap activity, was recorded accurately
• Confirm escrow account balances on trial balance tie to lender’s activity
• Reconcile various subledger (A/R, A/P, Security Deposit) balances against the trial balance
• Review/re-calculate certain G/L accounts including Allowance for Bad Debt, Prepaid Taxes, Prepaid Insurance, Prepaid Other, and Management Fee
• Review cash deposits against bank activity
• Document questions to our third-party portfolio manager and follow-up on the same through resolution
• Prepare and enter journal entries for certain ESRT transactions, including ESG expense accruals, cap ex accruals, and G/L reclasses. Coordinate with other ESRT teams, such as Design & Construction and the ESG team, to complete such accruals.
• Review cash balances and cash needs for the applicable property to fund, as needed, operating expenses, construction projects, and mortgage payments
• Provide fixed asset information to our third-party portfolio manager monthly for inclusion in the Depreciation Expense schedule, including placed-in-service date and recovery periods in accordance with ESRT’s policy. Coordinate with ESRT Design & Construction and operations teams to obtain such information.
• 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 review of monthly books and taking ownership over review process
• Build and maintain relationships with third-party accountants and 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
• Real estate experience, multifamily experience is preferred

• Prolonged periods of sitting at a desk and working on a computer
• Must be able to lift up to 15 pounds at times

• At ESRT, like our tenants, our employees come from everywhere. We foster a richly diverse work environment that captures top talent and cultivates the best ideas. By focusing on inclusion and celebrating our differences, we create even greater value — in business practices, relationships, and employee engagement. As an Equal Opportunity Employer, we are committed to maintaining a diverse, inclusive, and equitable work environment where our employees can thrive. 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 and embrace and contribute to a culture of diversity and inclusion
• Positive – you possess a service-oriented attitude with excellent follow through

• 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

• 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

ESRT is an affirmative action and 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 on the basis of race, religion, color, creed, national origin, sex, sexual orientation, gender identity or expression, 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. Accommodations are available for applicants with disabilities