Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#10A
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 423
Cash and cash equivalents - reserve fund 6,279
Bank certificates of deposits - reserve fund 2,352
Due from shareholders 461
Due from commercial tenants 146
Other receivables 13
Prepaid real estate taxes -0-
Prepaid expenses 221
Property and equipment - net 29,963
Investment in NCB stock 94
Security deposits held 1,203
Total Assets 41,155
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 711
Capital improvements payable -0-
Abatements payable 983
Maintenance charges received in advance 57
Deferred commercial rent 516
Mortgage payable 33,985
Less: Mortgage costs - net (248)
Security deposits payable 1,203
Total Liabilities 37,208
Shareholders' Equity
Capital stock 935
Additional paid-in capital 58,900
Retained earnings (deficit) (55,888)
Total Shareholders' Equity 3,947
Total Liabilities and Shareholders' Equity 41,155

Statements of Operations

Statements of Operations
Income
Maintenance charges 20,752
Less: Abatements (1,977)
Operating assessments 2,236
Commercial rent 1,920
Transfer fees 367
Laundry income 85
Other income 537
Total Income 23,921
Expenses
Real estate taxes 12,904
Less: Abatements (1,977)
Mortgage interest 1,323
Payroll and related expenses 6,439
Electric and gas 292
Heating 628
Water and sewer 525
Repairs and maintenance 1,075
Insurance 447
Management fees 534
Professional fees 400
Corporation taxes 126
Office and administration 221
Total Expenses 22,936
Income from Operations 985
Other Items
Capital assessment 4,189
Commercial rent - straight-line adjustment 81
Depreciation (2,447)
Interest - amortization of mortgage costs (40)
Net Income (Loss) 2,767