Real Estate Project
Resume:
JAMES N. WALSH RPA
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Pleasantville, New York
***********@*****.***
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Property Manager/Controller- Commercial RE
Professional Profile:
. 15 years experience in building management specializing in
construction and renovation project management
. Innovative cost reduction initiatives attained by bidding and
benchmarking services implemented through application of strong
negotiation skills.
. GAAP Accounting for Commercial Properties In NYC and other
Central Business Districts
. Strong financial & analytical skills applied to analysis of
complex commercial leases with multiple modifications of space
rent and recoveries acting as consultant to attorneys as to
leases renewals. Analysis of Seller provided Argus models for
purchase decisions. Creation of Lease decision grids using Pro-
Calc
. Professional budget management skills from annual budget
creation though variance analysis. Analysis of CAM charges,
estimates and adjustments.
. Project accounting professional and financial analyst for major
developers and financial controller for 40 Broad Street, 600
Third Ave., 195 Broadway, Park 80 West., 425 Lexington Ave. 475
Fifth Avenue and 584 Broadway.
. Career initiated as internal audit professional for Combustion
Engineering (ABB) traveled to audit locations across US and
Europe.
Computer Skills: Argus, Pro-Calc, Yardi, MRI, Skyline, Microsoft Excel,
Project & Access, Data Base Mgmt
Experience:
Zamir Equities - CFO for Commercial Property Investment Group
12/07- 8/10
40 Broad St (Setai Condo), RBC Liberty Life Center, SC; Terrell Mill, GA;
GAAP Accounting for 200M mixed use (Condo, Office, Retail)
redevelopment project.
Real Estate Project Accounting, Budgeting, Building Operations Mgmt &
Construction Accounting including compliance with Loan Documents and
review and approval of Loan Draw Schedules.
Review and supervision of Financial Accounting for real estate projects
managed by outside managers, Review/approval of Budgets, Capital
Improvements & OpEx calculations actual and estimates by outside
property managers.
Insurance professional pursued insurance carrier and accomplished
$140,000 return of premium by challenging basis of coverage during
transition from builders risk to permanent insurance.
Implementation of Yardi Voyager 6 to self-manage outside managed
properties.
Hines Interests - Senior Project Accountant
12/05- 12/06
425 Lexington Avenue / HINES CORE FUND
GAAP Financial accounting for real estate projects, including Operating
Expense calculations with varying Exclusions and varying Allowed
Capital Amortization, FASB 13 Revenue calculations including rent
straightlining, FASB 141 purchase price allocations and amortization.
Annual Plan and Operating and Capital Budget, Monthly closings and
schedules and variance analysis.
CBRE Accounting Services - Senior Project Accountant 12/04-
12/05
GAAP Financial accounting for real estate projects which included 300
Third Ave.; 195 Broadway; Park 80 West, NJ; 660 Madison Ave and 470
Vanderbilt, Brooklyn, lease analysis, calculation of operating and real
estate escalations and all closing. Analysis of complex lease
provisions for large tenant renegotiations.(L3 at 300 Third Ave).
Clients included L&L Holding, The Carlyle Group, and GE Asset
Management.
475 Fifth Avenue Limited Partnership/ CRIF I, LP, New York, NY
6/97 - 12/04
Originally recruited as owner's representative. Reviewed and value
engineered major projects. Promoted to building manager with full
responsibilities for all aspects of property management for 475 Fifth
Avenue, a 270,000 sq ft office and retail property at 41st Street.
. Controlled build-outs by outside general contractors thru timely site
inspections and in-depth reading and understanding of lease provisions
relating to lease work-letter provisions.
. Took consistently strong defensible positions for benefit of landlord
during build-out phase of each lease, including timing issues
regarding work, payments and document production
. Professional Construction Management of Tenant build-to-suit by
Landlord. In-depth knowledge of the construction process for all
construction types: base building, office interior fit-outs & exterior
renovation.
. Effectively managed and prepared draws for refinancing repair &
replacement reserves, all construction deadlines met.
> Accomplishments:
. Managed multiple construction projects base-building and new space
construction and renovation saving all general contractor and
construction management fees.
. Initiated and managed value-engineering and rebidding of major base-
building hot water heating system installation with savings of
$300,000.
. Initiated and managed code-review and re-engineering of sprinkler
installation project leading to combined sprinkler/standpipe
modification with savings of $500,000.
> MAJOR RENOVATIONS INCLUDED: Exterior Renovation --- Window
Replacement --- Elevator Modernization --- Elevator Access Control
System ---Electrical Service and Riser Replacement--- Addressable Fire
Alarm---New Roof---Sprinkler System---Water Tanks---All new Roof
Drainage---Main Building Sewer Lines---New Fire Exit From Building
Basement---New Electrical Breaker Panels
. Major exterior renovation of the upper portion of building included
new copper roof, rebuild of abandoned roof drainage. Replacement of
masonry corners, spandrels, and window lintels after repair and
waterproofing.
. Elevator modernization eliminated degraded DC/DC generators replaced
with open standard digital controllers and AC/DC drives (old
controllers were proprietary). Allows bidding by additional
maintenance companies. Cured noise and vibration problems to allow
leasing of floors adjacent to machine rooms. Installed elevator card
access system. Sold old controllers back to Elevator Company.
. Removal of DC electrical service and replacement with new AC
switchgear to add capacity. Removal and replacement of multiple
electrical risers replaced electrical risers and reduced risers that
feed multiple floors providing modern power requirements for new full
floor tenant build-outs. Replaced all electric distribution panels on
all floors.
. Installed addressable fire alarm system, converted building from
'Advisory E' to 'Modified E status'. Enclosed and added staircase to
bring building up to new code for basement change of use from
"storage" to "retail use".
584 Broadway Associates / AMEV / Fortis, New York, NY 9/89 -
5/97
Controller for joint venture, took over supervision of capital
improvements and tenant improvements, property management and then
onsite/leasing for the property.
> Accomplishments:
. Responsible for GAAP financial reporting thru audit for 226,000 square
foot office building converted from loft building in So Ho
. Supervised and bid major capital improvements leading to large savings
and developed expertise in various disciplines. Projects pursued in
highly occupied building while maintaining good tenant relations.Prior
Employers included: Olympia & York and Cadillac Fairview
Education:
Iona College BBA Accounting
RPA-Real Property Administrator Program - BOMA
NYU School of Continuing Education - real estate courses
Passed all parts NYS CPA exam
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