Apartment Report

Year Ended 2017-12-31

310 East 49 St
#1A
New York
NY 10017

Balance Sheets
Assets
Current Assets:
Cash and cash equivalents	821
Receivables (Note 3)	174
Prepaid expenses (Note 4)	123
Total Current Assets	1,118
Reserve fund (Notes 2 and 5)	5,266
Property and Improvements: (Notes 2 and 6)
Land	10,985
Building	22,816
Building improvements	18,670
Total	52,471
Less: accumulated depreciation	(32,452)
Net Property and Improvements	20,019
Other Assets:
Investment in NCB stock (Note 2)	145
Unamortized credit line finance costs	63
Utility deposit	4
Total Other Assets	212
Total Assets	26,615
Liabilities
Current Liabilities:
Accounts payable and accrued expenses	266
Real estate tax abatements	507
Mortgage payable - current portion	294
Prepaid maintenance and laundry income	123
Building improvements payable	46
Accrued mortgage interest	44
Total Current Liabilities	1,280
Long-Term Liabilities:
Mortgage payable - net of current portion (Note 7)	14,465
Unamortized mortgage finance costs (Note 2)	(352)
Total Long-Term Debt	14,113
Security deposits payable	200
Total Long-Term Liabilities	14,313
Total Liabilities	15,593
Stockholders’ Equity
Common stock - $1.00 par value, 71,711 shares issued and outstanding	540
Additional paid-in capital	31,161
Accumulated deficit	(20,679)
Total Stockholders’ Equity	11,022
Total Liabilities and Stockholders’ Equity	26,615

OPERATIONS
Revenues
Maintenance	10,089
Operating assessment	1,056
Shareholder and other fees	278
Interest and dividend income	96
Transfer fees (Note 2)	104
Laundry income	61
Total Revenues	11,684
Cost of Operations
Administrative expenses Schedule 1	666
Operating expenses Schedule 2	4,808
Repairs and maintenance Schedule 3	617
Real estate tax	4,834
Mortgage interest	529
Corporation taxes	61
Total Cost of Operations	11,515
(Loss) Income Before Noncash Depreciation, Amortization and Mortgage Finance Interest Costs	169
Noncash depreciation, amortization and mortgage finance interest costs	(1,360)
Net Loss For The Year	(1,191)