Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#10A
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 618
Cash and cash equivalents - reserve fund 4,475
Bank certificates of deposits - reserve fund 236
Due from shareholders 197
Due from commercial tenants 151
Other receivables 57
Prepaid real estate taxes 2,676
Prepaid expenses 257
Property and equipment - net 29,958
Investment in NCB stock 94
Security deposits held 984
Total Assets 39,703
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 565
Capital improvements payable 1,531
Abatements payable 948
Maintenance charges received in advance 200
Deferred commercial rent 597
Mortgage payable 33,985
Less: Mortgage costs - net (287)
Security deposits payable 984
Total Liabilities 38,523
Shareholders' Equity
Capital stock 935
Additional paid-in capital 58,900
Retained earnings (deficit) (58,655)
Total Shareholders' Equity 1,180
Total Liabilities and Shareholders' Equity 39,703

Statements of Operations

Statements of Operations
Income
Maintenance charges 19,860
Less: Abatements (1,866)
Operating assessments 2,167
Commercial rent 1,768
Transfer fees 322
Laundry income 85
Other income 595
Total Income 22,931
Expenses
Real estate taxes 12,660
Less: Abatements (1,866)
Mortgage interest 1,323
Payroll and related expenses 6,522
Electric and gas 301
Heating 572
Water and sewer 452
Repairs and maintenance 1,112
Insurance 434
Management fees 519
Professional fees 590
Corporation taxes 133
Office and administration 160
Total Expenses 22,911
Income from Operations 20
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 81
Depreciation (2,333)
Interest - amortization of mortgage costs (40)
Net Income (Loss) (2,272)