Apartment Report

Year Ended 2018-12-31

310 East 49 St
#1A
New York
NY 10017

Balance Sheets
Assets
Current Assets:
Cash and cash equivalents	830

Receivables (Note 3)	197
Prepaid expenses (Note 4)	100
Total Current Assets	1,127

Reserve fund (Notes 2 and 5)	4,898
Property and Improvements: (Notes 2 and 6)
Land	10,985

Building	22,816
Building improvements	18,675
Total	52,476
Less: accumulated depreciation	(33,705)
Net Property and Improvements	18,771
Other Assets:
Investment in NCB stock (Note 2)	96
Unamortized credit line finance costs	56
Utility deposit	4
Total Other Assets	156
Total Assets	24,951
Liabilities
Current Liabilities:
Accounts payable and accrued expenses	276
Real estate tax abatements	431
Mortgage payable - current portion	305
Prepaid maintenance and laundry income	90
Building improvements payable	46
Accrued mortgage interest	43
Total Current Liabilities	1,191
Long-Term Liabilities:
Mortgage payable - net of current portion (Note 7)	14,161

Unamortized mortgage finance costs (Note 2)	(312)
Total Long-Term Debt	13,848
Security deposits payable	207
Total Long-Term Liabilities	14,056
Total Liabilities	15,247

Stockholders’ Equity
Common stock - $1.00 par value, 71,711 shares issued and outstanding	540

Additional paid-in capital	31,161
Accumulated deficit	(21,997)
Total Stockholders’ Equity	9,704

Total Liabilities and Stockholders’ Equity	24,951

OPERATIONS
Revenues
Maintenance	10,492
Operating assessment	1,106
Shareholder and other fees	221
Interest and dividend income	92
Transfer fees (Note 2)	64
Laundry income	61
Total Revenues	12,036
Cost of Operations
Administrative expenses Schedule 1	650
Operating expenses Schedule 2	4,960
Repairs and maintenance Schedule 3	741
Real estate tax	5,120
Mortgage interest	518
Corporation taxes	65
Total Cost of Operations	12,055
(Loss) Income Before Noncash Depreciation, Amortization and Mortgage Finance Interest Costs	(18)
Noncash depreciation, amortization and mortgage finance interest costs	(1,300)
Net Loss For The Year	(1,318)