Apartment Report

Year Ended 2018-12-31

310 East 49 St
#1E
New York
NY 10017

Balance Sheets
Assets
Current Assets:
Cash and cash equivalents	861

Receivables (Note 3)	204
Prepaid expenses (Note 4)	103
Total Current Assets	1,168

Reserve fund (Notes 2 and 5)	5,079
Property and Improvements: (Notes 2 and 6)
Land	11,392

Building	23,661
Building improvements	19,366
Total	54,419
Less: accumulated depreciation	(34,953)
Net Property and Improvements	19,466
Other Assets:
Investment in NCB stock (Note 2)	99
Unamortized credit line finance costs	58
Utility deposit	4
Total Other Assets	162
Total Assets	25,875
Liabilities
Current Liabilities:
Accounts payable and accrued expenses	286
Real estate tax abatements	447
Mortgage payable - current portion	316
Prepaid maintenance and laundry income	93
Building improvements payable	48
Accrued mortgage interest	45
Total Current Liabilities	1,235
Long-Term Liabilities:
Mortgage payable - net of current portion (Note 7)	14,685

Unamortized mortgage finance costs (Note 2)	(324)
Total Long-Term Debt	14,361
Security deposits payable	215
Total Long-Term Liabilities	14,576
Total Liabilities	15,812

Stockholders’ Equity
Common stock - $1.00 par value, 71,711 shares issued and outstanding	560

Additional paid-in capital	32,315
Accumulated deficit	(22,812)
Total Stockholders’ Equity	10,064

Total Liabilities and Stockholders’ Equity	25,875

OPERATIONS
Revenues
Maintenance	10,881
Operating assessment	1,147
Shareholder and other fees	229
Interest and dividend income	96
Transfer fees (Note 2)	67
Laundry income	63
Total Revenues	12,482
Cost of Operations
Administrative expenses Schedule 1	674
Operating expenses Schedule 2	5,144
Repairs and maintenance Schedule 3	769
Real estate tax	5,310
Mortgage interest	538
Corporation taxes	67
Total Cost of Operations	12,501
(Loss) Income Before Noncash Depreciation, Amortization and Mortgage Finance Interest Costs	(19)
Noncash depreciation, amortization and mortgage finance interest costs	(1,348)
Net Loss For The Year	(1,367)