Apartment Report

Year Ended 2017-12-31

310 East 49 St
#8B
New York
NY 10017

Balance Sheets
Assets
Current Assets:
Cash and cash equivalents	907
Receivables (Note 3)	193
Prepaid expenses (Note 4)	136
Total Current Assets	1,236
Reserve fund (Notes 2 and 5)	5,822
Property and Improvements: (Notes 2 and 6)
Land	12,145
Building	25,224
Building improvements	20,641
Total	58,010
Less: accumulated depreciation	(35,877)
Net Property and Improvements	22,133
Other Assets:
Investment in NCB stock (Note 2)	160
Unamortized credit line finance costs	70
Utility deposit	4
Total Other Assets	235
Total Assets	29,425
Liabilities
Current Liabilities:
Accounts payable and accrued expenses	294
Real estate tax abatements	560
Mortgage payable - current portion	325
Prepaid maintenance and laundry income	135
Building improvements payable	51
Accrued mortgage interest	49
Total Current Liabilities	1,415
Long-Term Liabilities:
Mortgage payable - net of current portion (Note 7)	15,992
Unamortized mortgage finance costs (Note 2)	(389)
Total Long-Term Debt	15,603
Security deposits payable	221
Total Long-Term Liabilities	15,824
Total Liabilities	17,239
Stockholders’ Equity
Common stock - $1.00 par value, 71,711 shares issued and outstanding	597
Additional paid-in capital	34,450
Accumulated deficit	(22,861)
Total Stockholders’ Equity	12,186
Total Liabilities and Stockholders’ Equity	29,425

OPERATIONS
Revenues
Maintenance	11,154
Operating assessment	1,168
Shareholder and other fees	307
Interest and dividend income	106
Transfer fees (Note 2)	115
Laundry income	67
Total Revenues	12,917
Cost of Operations
Administrative expenses Schedule 1	736
Operating expenses Schedule 2	5,316
Repairs and maintenance Schedule 3	682
Real estate tax	5,345
Mortgage interest	584
Corporation taxes	67
Total Cost of Operations	12,731
(Loss) Income Before Noncash Depreciation, Amortization and Mortgage Finance Interest Costs	187
Noncash depreciation, amortization and mortgage finance interest costs	(1,503)
Net Loss For The Year	(1,316)