Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#10G
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 323
Cash and cash equivalents - reserve fund 4,789
Bank certificates of deposits - reserve fund 1,793
Due from shareholders 352
Due from commercial tenants 111
Other receivables 10
Prepaid real estate taxes -0-
Prepaid expenses 168
Property and equipment - net 22,850
Investment in NCB stock 71
Security deposits held 917
Total Assets 31,385
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 542
Capital improvements payable -0-
Abatements payable 749
Maintenance charges received in advance 43
Deferred commercial rent 394
Mortgage payable 25,917
Less: Mortgage costs - net (189)
Security deposits payable 917
Total Liabilities 28,375
Shareholders' Equity
Capital stock 713
Additional paid-in capital 44,917
Retained earnings (deficit) (42,620)
Total Shareholders' Equity 3,010
Total Liabilities and Shareholders' Equity 31,385

Statements of Operations

Statements of Operations
Income
Maintenance charges 15,826
Less: Abatements (1,508)
Operating assessments 1,705
Commercial rent 1,464
Transfer fees 280
Laundry income 65
Other income 409
Total Income 18,242
Expenses
Real estate taxes 9,840
Less: Abatements (1,508)
Mortgage interest 1,009
Payroll and related expenses 4,910
Electric and gas 223
Heating 479
Water and sewer 400
Repairs and maintenance 820
Insurance 341
Management fees 407
Professional fees 305
Corporation taxes 96
Office and administration 168
Total Expenses 17,491
Income from Operations 751
Other Items
Capital assessment 3,194
Commercial rent - straight-line adjustment 62
Depreciation (1,866)
Interest - amortization of mortgage costs (30)
Net Income (Loss) 2,110