Assistant Controller

Position Summary

The Assistant Controller is a key member of the finance and operations team for a privately held urban real estate development company specializing in high-rise multifamily residential projects. The company develops, owns, and operates its assets in partnership with institutional investors and other capital partners.

This position is responsible for supporting the financial oversight of development projects and operating properties throughout their life cycle, including development and construction accounting, property-level accounting, financial reporting, investor reporting, budgeting and forecasting, cash management, and property management oversight.

The Assistant Controller, reporting directly to the VP/Controller, will work closely with company ownership, development and construction teams, property operations, lenders, institutional investors, external accountants, and other business partners. The role requires both strong technical accounting capabilities and a practical understanding of real estate ownership and operations.

Key Responsibilities

Accounting & Financial Reporting

· Oversee and maintain accurate accounting records for development projects, operating properties, and related ownership entities.

· Prepare and review monthly, quarterly, and annual financial statements and supporting schedules.

· Manage the monthly and year-end close processes, including account reconciliations, accruals, journal entries, and financial statement review.

· Maintain appropriate accounting policies, procedures, and internal controls across development and operating entities.

· Coordinate with external accountants and auditors in connection with annual audits, tax reporting, and other financial requirements.

· Monitor intercompany transactions, ownership entities, joint ventures, and property-level accounting activity.

· Support treasury functions, including cash management, bank reconciliations, funding requirements, and cash-flow forecasting.

Real Estate Development & Construction Accounting

· Provide financial oversight for high-rise residential development projects from pre-development through construction, stabilization, and ongoing ownership.

· Track project costs against approved development budgets and identify significant variances.

· Review construction draws, development costs, professional fees, and other project expenditures.

· Coordinate funding requests and capital calls related to development and construction activities.

· Maintain development and construction cost schedules and supporting documentation.

· Work closely with development and construction teams to forecast remaining project costs, cash requirements, and completion estimates.

· Support project capitalization, transition from development to operations, and stabilization of completed assets.

Institutional Investor & Partner Reporting

· Assist in the preparation of accurate and timely financial reporting packages for institutional investors, joint venture partners, lenders, and other stakeholders.

· Maintain reporting in accordance with partnership agreements, investor requirements, loan documents, and established reporting calendars.

· Prepare supporting schedules for capital contributions, distributions, ownership interests, project expenditures, and operating results.

· Assist with capital calls, investor distributions, and related calculations and documentation.

· Respond to financial inquiries and information requests from institutional investors and capital partners.

· Coordinate with ownership and senior management in preparing financial analyses and materials for investor and partner meetings.

· Maintain a high standard of accuracy, transparency, and responsiveness in all external financial reporting.

Property & Asset Management

· Participate in the financial and operational management of the company's residential portfolio following completion and stabilization.

· Oversee property-level financial performance, including revenue, operating expenses, accounts payable, accounts receivable, and cash management.

· Prepare and monitor annual property operating budgets and periodic forecasts.

· Review actual operating performance against budget and identify significant trends and variances.

· Monitor rent collections, occupancy, operating expenses, vendor costs, and other key property performance indicators.

· Coordinate with property managers, leasing teams, vendors, and building personnel as applicable.

· Review and approve property-related invoices and expenditures in accordance with established authority levels.

· Assist with vendor contracts, insurance matters, property taxes, utilities, and other recurring property obligations.

· Support the development and execution of operating and capital improvement plans designed to protect and enhance the long-term value of each asset.

Ownership & Portfolio Management

· Support ownership in evaluating the financial performance of individual assets and the overall real estate portfolio.

· Prepare cash-flow projections, financial models, and other analyses to support ownership decisions.

· Monitor debt service, lender requirements, reserve accounts, and loan covenant compliance.

· Assist with refinancing, recapitalization, acquisition, disposition, and other capital events as required.

· Provide financial information and analysis to support strategic decisions regarding development projects and operating assets.

· Help establish scalable financial and operational processes as the company's portfolio grows.

Qualifications

· Bachelor's degree in Accounting, Finance, Business Administration, or a related field.

· CPA preferred but not required depending upon relevant real estate experience.

· Approximately 5–10 years of progressive accounting and financial management experience, preferably within real estate development, multifamily housing, property management, construction, or a related industry.

· Experience with real estate development and construction accounting strongly preferred.

· Experience preparing financial reports for institutional investors, joint venture partners, lenders, or similar sophisticated stakeholders.

· Understanding of property-level financial statements, development budgets, construction draws, operating budgets, and cash-flow forecasting.

· Familiarity with real estate ownership structures, joint ventures, and multiple legal entities.

· Strong Excel and financial modeling skills; experience with real estate accounting and property management systems preferred, especially RealPage.

· Strong written and verbal communication skills with the ability to communicate financial information effectively to both financial and non-financial stakeholders.

Pay: $100,000.00 - $110,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Employee assistance program
• Employee discount
• Health insurance
• Paid sick time
• Paid time off
• Vision insurance

Experience:

• Finance: 5 years (Preferred)

Work Location: In person

Salary : $100,000 - $110,000