Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#10D
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 482
Cash and cash equivalents - reserve fund 7,151
Bank certificates of deposits - reserve fund 2,678
Due from shareholders 525
Due from commercial tenants 166
Other receivables 15
Prepaid real estate taxes -0-
Prepaid expenses 251
Property and equipment - net 34,123
Investment in NCB stock 107
Security deposits held 1,370
Total Assets 46,870
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 810
Capital improvements payable -0-
Abatements payable 1,119
Maintenance charges received in advance 65
Deferred commercial rent 588
Mortgage payable 38,704
Less: Mortgage costs - net (282)
Security deposits payable 1,370
Total Liabilities 42,375
Shareholders' Equity
Capital stock 1,064
Additional paid-in capital 67,079
Retained earnings (deficit) (63,649)
Total Shareholders' Equity 4,495
Total Liabilities and Shareholders' Equity 46,870

Statements of Operations

Statements of Operations
Income
Maintenance charges 23,634
Less: Abatements (2,251)
Operating assessments 2,547
Commercial rent 2,186
Transfer fees 418
Laundry income 97
Other income 612
Total Income 27,242
Expenses
Real estate taxes 14,696
Less: Abatements (2,251)
Mortgage interest 1,507
Payroll and related expenses 7,333
Electric and gas 332
Heating 715
Water and sewer 598
Repairs and maintenance 1,224
Insurance 509
Management fees 608
Professional fees 455
Corporation taxes 144
Office and administration 251
Total Expenses 26,121
Income from Operations 1,122
Other Items
Capital assessment 4,770
Commercial rent - straight-line adjustment 92
Depreciation (2,787)
Interest - amortization of mortgage costs (45)
Net Income (Loss) 3,151