Job #1508: Director of Tax and Finance - NYC (12-17-20)

Job Title

Director of Tax and Finance

Location

New York

Salary

$200,000-$250,000

Job Title: Director of Tax and Finance

 

Job Summary

Leading New York City based real estate investment and development firm seeks a full-time Director of Tax and Finance to join the Corporate Finance Department.

 

Job Responsibilities

The Director of Tax and Finance will report to the CFO, and have the following primary responsibilities:

 

Manage all tax compliance, tax strategic planning, and other tax related activities (60%-70% of time):

  • As the sole internal subject matter expert on tax-related issues, lead the tax planning and compliance for Lightstone and Lightstone-affiliated public Real Estate Investment Trusts (REITs), providing advice to upper management on strategic tax opportunities
  • Prepare analysis and assess the impact of alternative tax strategies
  • Calculate tax gain on sale of assets, spearhead complex Section 1031 like-kind exchanges to defer recognition of gain
  • Identify and mitigate tax risks
  • Monitor multi-year tax projections, using reforecast financials on a quarterly basis, for each of Lightstone’s five REITs to ensure appropriate dividend coverage for taxable income distribution requirements
  • Ensure quarterly and annual REIT compliance tests are satisfied
  • Review and update sub-lease agreements between Taxable REIT Subsidiaries (TRS’s) and hotel fee owners in our REIT portfolios
  • Manage and coordinate tax audits of income tax, sales & use tax, franchise tax, etc.
  • Lead Brownfield tax credit applications, other local tax credit applications, and property tax appeals, as needed
  • Manage relationships with external tax advisors

 

 

Assist in all general finance, treasury, accounting, and FP&A functions, as required (30%-40% of time):

  • Administer Net Asset Value (NAV) calculations for five public non-traded Real Estate Investment Trusts (REITs), coordinating property appraisals with multiple appraisal firms
  • Lead annual appraisal process (and quarterly review) for assets held in a public real estate holding company portfolio listed on the Tel Aviv Stock Exchange (TASE), for IFRS reporting purposes
  • Manage relationships with external real estate appraisal firms
  • Manage cash/liquidity needs across all portfolios
  • Assist in the organization’s annual strategic forecasting and budgeting for five REITs with over $1B invested in multifamily residential, hospitality, outlet shopping mall, and commercial asset classes
  • Assist in the review of property financials compared to prior period actuals and budgets for the current period, while simultaneously analyzing capital market needs, such as equity checks, REIT preferred investments, EB-5 funding, and debt financing
  • Manage several relationships with Joint Venture (JV) partners, including outlet development projects and stabilized assets
  • Calculate internal rate of returns for our joint venture investments to quantify the impact of promote deals and preferred returns with our JV partners
  • Assist in quarterly meetings with Lightstone’s public Board of Directors, ensuring clear and concise preparation of board materials and appropriate disclosure of critical information
  • As part of the CARES Act administered by the Small Business Administration in response to the Covid-19 pandemic, work with external banks to file forgiveness applications for Lightstone’s Paycheck Protection Program (PPP) loans

 


Interested Friends of the Firm members should e-mail resume to seldridge@lightstonegroup.com. Please mention that you are a member of EisnerAmper's Friends of the Firm program. Make sure to include Job #1508 in the subject line and to copy friendsoffirm@eisneramper.com on your email.