Apartment Report

Year Ended 2017-12-31

310 East 49 St
#4F
New York
NY 10017

Balance Sheets
Assets
Current Assets:
Cash and cash equivalents	898
Receivables (Note 3)	191
Prepaid expenses (Note 4)	135
Total Current Assets	1,224
Reserve fund (Notes 2 and 5)	5,763
Property and Improvements: (Notes 2 and 6)
Land	12,023
Building	24,970
Building improvements	20,433
Total	57,427
Less: accumulated depreciation	(35,516)
Net Property and Improvements	21,910
Other Assets:
Investment in NCB stock (Note 2)	159
Unamortized credit line finance costs	69
Utility deposit	4
Total Other Assets	232
Total Assets	29,129
Liabilities
Current Liabilities:
Accounts payable and accrued expenses	291
Real estate tax abatements	555
Mortgage payable - current portion	322
Prepaid maintenance and laundry income	134
Building improvements payable	51
Accrued mortgage interest	48
Total Current Liabilities	1,401
Long-Term Liabilities:
Mortgage payable - net of current portion (Note 7)	15,832
Unamortized mortgage finance costs (Note 2)	(385)
Total Long-Term Debt	15,446
Security deposits payable	219
Total Long-Term Liabilities	15,665
Total Liabilities	17,066
Stockholders’ Equity
Common stock - $1.00 par value, 71,711 shares issued and outstanding	591
Additional paid-in capital	34,104
Accumulated deficit	(22,631)
Total Stockholders’ Equity	12,063
Total Liabilities and Stockholders’ Equity	29,129

OPERATIONS
Revenues
Maintenance	11,042
Operating assessment	1,156
Shareholder and other fees	304
Interest and dividend income	105
Transfer fees (Note 2)	114
Laundry income	67
Total Revenues	12,787
Cost of Operations
Administrative expenses Schedule 1	729
Operating expenses Schedule 2	5,262
Repairs and maintenance Schedule 3	675
Real estate tax	5,291
Mortgage interest	578
Corporation taxes	67
Total Cost of Operations	12,603
(Loss) Income Before Noncash Depreciation, Amortization and Mortgage Finance Interest Costs	185
Noncash depreciation, amortization and mortgage finance interest costs	(1,488)
Net Loss For The Year	(1,303)