Apartment Report

Year Ended 2017-12-31

310 East 49 St
#5H
New York
NY 10017

Balance Sheets
Assets
Current Assets:
Cash and cash equivalents	897
Receivables (Note 3)	190
Prepaid expenses (Note 4)	135
Total Current Assets	1,222
Reserve fund (Notes 2 and 5)	5,753
Property and Improvements: (Notes 2 and 6)
Land	12,002
Building	24,928
Building improvements	20,399
Total	57,329
Less: accumulated depreciation	(35,456)
Net Property and Improvements	21,873
Other Assets:
Investment in NCB stock (Note 2)	158
Unamortized credit line finance costs	69
Utility deposit	4
Total Other Assets	232
Total Assets	29,080
Liabilities
Current Liabilities:
Accounts payable and accrued expenses	290
Real estate tax abatements	554
Mortgage payable - current portion	322
Prepaid maintenance and laundry income	134
Building improvements payable	50
Accrued mortgage interest	48
Total Current Liabilities	1,398
Long-Term Liabilities:
Mortgage payable - net of current portion (Note 7)	15,805
Unamortized mortgage finance costs (Note 2)	(385)
Total Long-Term Debt	15,420
Security deposits payable	218
Total Long-Term Liabilities	15,639
Total Liabilities	17,037
Stockholders’ Equity
Common stock - $1.00 par value, 71,711 shares issued and outstanding	590
Additional paid-in capital	34,046
Accumulated deficit	(22,593)
Total Stockholders’ Equity	12,043
Total Liabilities and Stockholders’ Equity	29,080

OPERATIONS
Revenues
Maintenance	11,023
Operating assessment	1,154
Shareholder and other fees	303
Interest and dividend income	105
Transfer fees (Note 2)	114
Laundry income	67
Total Revenues	12,766
Cost of Operations
Administrative expenses Schedule 1	728
Operating expenses Schedule 2	5,253
Repairs and maintenance Schedule 3	674
Real estate tax	5,282
Mortgage interest	578
Corporation taxes	67
Total Cost of Operations	12,581
(Loss) Income Before Noncash Depreciation, Amortization and Mortgage Finance Interest Costs	185
Noncash depreciation, amortization and mortgage finance interest costs	(1,485)
Net Loss For The Year	(1,301)