Vice President, Accounting

Company Overview

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone’s over $9 billion portfolio currently includes over 12 million square feet of industrial, life sciences, and commercial properties, over 30,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

Position Overview

Lightstone currently owns and manages large portfolios of properties across multiple real estate asset classes. The Vice President of Accounting is responsible for overseeing all accounting and reporting-related aspects for the Company’s commercial real estate holdings; consisting of properties located throughout the United States within the hospitality, retail, industrial and life sciences sectors. Significant experience overseeing the accounting function for a large diversified portfolio of commercial properties; leading and managing a diverse group of accounting professionals; effectively multi-tasking and prioritizing assigned duties and responsibilities in order to meet challenging deadlines; excellent oral and written communication skills; and attention to detail are amongst the required qualifications.

This position is full-time and exempt. The Vice President of Accounting will be based at the Company’s Lakewood, New Jersey office. This position may require occasional travel and reports to the Company’s Senior Vice President & Chief Accounting Officer.

Essential Functions

The Vice President of Accounting will primarily oversee the Company’s portfolio of commercial real estate properties and is responsible for the following functions:

• Oversee and manage day-to-day activities of accounting staff. Instruct, train and develop personnel.
• Oversee and review monthly, quarterly and annual accounting “close” processes for lease administration function and property accounting function for all commercial properties.
• Research, analyze and document the appropriate accounting treatment for complex transactions as well as significant and unusual items; including newly issued accounting pronouncements, revenue recognition of significant and/or unusual commercial lease terms, investments/acquisitions, dispositions, financings, joint ventures, etc.
• Review, evaluate and document internal controls over processing of both routine and nonroutine transactions.
• Assist with preparation and review of all requisite SEC filings and Israeli Securities Agency filings.
• Assist with investor relations.
• Assist with preparation and review of income tax accruals and filings.
• Assist with preparation and review of REIT compliance calculations.
• Liaise with and provide extensive support to the Company’s Commercial Asset Managers and their respective teams.
• Participate in the review/preparation of annual budgets and periodic forecasts.
• Participate in the review/preparation of lender reporting and joint venture reporting packages.
• Possess strong understanding of the operations functions of Commercial properties.
• Participate in the preparation/review of variance analyses for Commercial properties.
• Participate in quarterly reviews and annual audits.
• Assist in “due diligence” for acquisitions, dispositions, financings and other transactions.
• Support and liaise with other accounting personnel, internal and external Property Managers, Joint Venture Partners, lenders and other Lightstone personnel, including the Executive team.
• Other duties and responsibilities, including special projects as assigned.
  
  
  

Qualifications

• Significant, minimum of 15 years, progressive experience in commercial real estate; with a comprehensive understanding of all facets of accounting and financial reporting related to hospitality, retail, industrial and office properties.
• Bachelor degree or equivalent in accounting, finance, business and/or similar field is required.
• Public accounting experience and/or CPA designation is required.
• Public company/fund experience is required.
• Investor relations experience is required.
• REIT experience is required.
• Extensive managerial/supervisory experience is required.
• Excellent communication skills are required. Must be able to effectively present to and interact with both internal and external personnel.
• Strong computer skills are required, including advanced proficiency in MS Office applications, particularly Excel.
• Comprehensive understanding of US GAAP accounting and IFRS accounting is required.
• Extensive experience with MRI, Yardi and/or other commercial real estate accounting software systems is required.
• Experience with reading, abstracting and understanding commercial leases, organizational & operating agreements and loan agreements is required.
• Must be well-organized with the ability to excel in a dynamic work environment.
• Must have a strong work ethic with the ability to work independently and manage team.
• Must be able to multi-task and manage a challenging workload while consistently meeting stringent deadlines.