Mount Sinai Health System
Senior Manager, Real Estate Services Lease Accounting -Housing And Transportatio
Mount Sinai Health System, New York, New York, us, 10261
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Pay found in job post Retrieved from the description.
Base pay range $86,772.00/yr - $130,159.00/yr
Description Senior Manager, Real Estate Services Lease Accounting – Housing And Transportation Administration Real Estate – Mount Sinai Health System – Full Time – Days
This position handles Contract Review and Administration, Financial Lease Administration, Financial Due Diligence, Financial Audit/Reporting and Special Projects. Mainly responsible for the oversight of the accounting and reporting related to Real Estate Services’ lease transactions, including managing staff and system resources to ensure team goals are achieved. This visible role oversees the lease management, tenancy audit and payment processes relating to all the Hospital’s operating leases.
Responsibilities
CONTRACT REVIEW AND ADMINISTRATION
Review and analyze all lease/sublease contracts, estoppel and outside vendor contracts and work proposals. Extract relevant financial terms of the contracts.
Review and approve invoices for services rendered by Landlord and/or vendors to ensure that costs match the scope of work outlined in the contract.
Managing the financial aspects of the contract, including monitoring performance/compliance, handling disputes, and addressing/resolving issues.
FINANCIAL LEASE ADMINISTRATION
Lease Abstraction: Manage the extraction of key information and financial data from the lease agreement into Lease Analysis/Abstract and summarize the most essential clauses defining the commercial/legal/functional terms of the transaction.
Database Management: Oversee database management of real estate portfolio (in Excel and Visual Lease software) and ensure an accurate and up-to-date real time database system. Interface with the acquisition and disposition group to obtain information necessary to properly account for all leases.
Rent Processing: Provide management supervision of lease accountants’ lease payment processing of MSHS real estate portfolio to ensure that charges for lease expenses, real estate taxes, CAM and Operating Expense charges are accurate in accordance with the terms of the leases.
Accounting & Budgeting: Oversight of month‑end closing processes related to leases including journal entry and reconciliation review. Coordinate preparation of budgets and projections for lease‑related expenses.
Lease Audit: Perform periodic (monthly/annual) landlord statements’ reconciliation of rent, real estate tax calculations, CAM and OPEX charges and resolve lease related errors and discrepancies.
FINANCIAL DUE DILIGENCE
Assist in reviewing financial data, real estate tax liabilities, utilities and penalties for possible violations whenever there are acquisitions/dispositions or refinancing of properties.
Provide analytical accounting support to real estate and divisional finance relating to lease scenarios and structures.
FINANCIAL AUDIT / FINANCIAL REPORTING AND SPECIAL PROJECTS
Work closely with internal and external auditors to meet audit requirements during interim and year‑end audits. Prepare reports, schedules and analysis as required.
Support the RES Department on additional real estate management and financial reporting responsibilities and ad‑hoc reporting for special projects and senior management requests related to leases.
STAFF SUPERVISION/PERFORMANCE EVALUATION
Train, coach, prioritize workflows and review day‑to‑day work of Lease Accountants. Provide performance feedback and perform annual staff evaluations.
Qualifications
Bachelor’s Degree in Accounting required.
CPA (preferred).
5 years minimum accounting experience in financial reporting with knowledge of Real Estate Accounting and at least 4 years minimum experience in managing role.
Equal Opportunity Employer The Mount Sinai Health System is an equal opportunity employer, complying with all applicable federal civil rights laws. We do not discriminate, exclude, or treat individuals differently based on race, color, national origin, age, religion, disability, sex, sexual orientation, gender, veteran status, or any other characteristic protected by law. We are deeply committed to fostering an environment where all faculty, staff, students, trainees, patients, visitors, and the communities we serve feel respected and supported.
Compensation The Mount Sinai Health System (MSHS) provides salary ranges that comply with the New York City Law on Salary Transparency in Job Advertisements. The salary range for the role is $86,772 - $130,159 Annually. Actual salaries depend on a variety of factors, including experience, education, and operational need. The salary range or contractual rate listed does not include bonuses/incentive, differential pay or other forms of compensation or benefits.
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Get AI-powered advice on this job and more exclusive features.
Pay found in job post Retrieved from the description.
Base pay range $86,772.00/yr - $130,159.00/yr
Description Senior Manager, Real Estate Services Lease Accounting – Housing And Transportation Administration Real Estate – Mount Sinai Health System – Full Time – Days
This position handles Contract Review and Administration, Financial Lease Administration, Financial Due Diligence, Financial Audit/Reporting and Special Projects. Mainly responsible for the oversight of the accounting and reporting related to Real Estate Services’ lease transactions, including managing staff and system resources to ensure team goals are achieved. This visible role oversees the lease management, tenancy audit and payment processes relating to all the Hospital’s operating leases.
Responsibilities
CONTRACT REVIEW AND ADMINISTRATION
Review and analyze all lease/sublease contracts, estoppel and outside vendor contracts and work proposals. Extract relevant financial terms of the contracts.
Review and approve invoices for services rendered by Landlord and/or vendors to ensure that costs match the scope of work outlined in the contract.
Managing the financial aspects of the contract, including monitoring performance/compliance, handling disputes, and addressing/resolving issues.
FINANCIAL LEASE ADMINISTRATION
Lease Abstraction: Manage the extraction of key information and financial data from the lease agreement into Lease Analysis/Abstract and summarize the most essential clauses defining the commercial/legal/functional terms of the transaction.
Database Management: Oversee database management of real estate portfolio (in Excel and Visual Lease software) and ensure an accurate and up-to-date real time database system. Interface with the acquisition and disposition group to obtain information necessary to properly account for all leases.
Rent Processing: Provide management supervision of lease accountants’ lease payment processing of MSHS real estate portfolio to ensure that charges for lease expenses, real estate taxes, CAM and Operating Expense charges are accurate in accordance with the terms of the leases.
Accounting & Budgeting: Oversight of month‑end closing processes related to leases including journal entry and reconciliation review. Coordinate preparation of budgets and projections for lease‑related expenses.
Lease Audit: Perform periodic (monthly/annual) landlord statements’ reconciliation of rent, real estate tax calculations, CAM and OPEX charges and resolve lease related errors and discrepancies.
FINANCIAL DUE DILIGENCE
Assist in reviewing financial data, real estate tax liabilities, utilities and penalties for possible violations whenever there are acquisitions/dispositions or refinancing of properties.
Provide analytical accounting support to real estate and divisional finance relating to lease scenarios and structures.
FINANCIAL AUDIT / FINANCIAL REPORTING AND SPECIAL PROJECTS
Work closely with internal and external auditors to meet audit requirements during interim and year‑end audits. Prepare reports, schedules and analysis as required.
Support the RES Department on additional real estate management and financial reporting responsibilities and ad‑hoc reporting for special projects and senior management requests related to leases.
STAFF SUPERVISION/PERFORMANCE EVALUATION
Train, coach, prioritize workflows and review day‑to‑day work of Lease Accountants. Provide performance feedback and perform annual staff evaluations.
Qualifications
Bachelor’s Degree in Accounting required.
CPA (preferred).
5 years minimum accounting experience in financial reporting with knowledge of Real Estate Accounting and at least 4 years minimum experience in managing role.
Equal Opportunity Employer The Mount Sinai Health System is an equal opportunity employer, complying with all applicable federal civil rights laws. We do not discriminate, exclude, or treat individuals differently based on race, color, national origin, age, religion, disability, sex, sexual orientation, gender, veteran status, or any other characteristic protected by law. We are deeply committed to fostering an environment where all faculty, staff, students, trainees, patients, visitors, and the communities we serve feel respected and supported.
Compensation The Mount Sinai Health System (MSHS) provides salary ranges that comply with the New York City Law on Salary Transparency in Job Advertisements. The salary range for the role is $86,772 - $130,159 Annually. Actual salaries depend on a variety of factors, including experience, education, and operational need. The salary range or contractual rate listed does not include bonuses/incentive, differential pay or other forms of compensation or benefits.
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