Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#11B
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 272
Cash and cash equivalents - reserve fund 4,043
Bank certificates of deposits - reserve fund 1,514
Due from shareholders 297
Due from commercial tenants 94
Other receivables 9
Prepaid real estate taxes -0-
Prepaid expenses 142
Property and equipment - net 19,293
Investment in NCB stock 60
Security deposits held 775
Total Assets 26,499
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 458
Capital improvements payable -0-
Abatements payable 633
Maintenance charges received in advance 37
Deferred commercial rent 332
Mortgage payable 21,883
Less: Mortgage costs - net (159)
Security deposits payable 775
Total Liabilities 23,958
Shareholders' Equity
Capital stock 602
Additional paid-in capital 37,926
Retained earnings (deficit) (35,986)
Total Shareholders' Equity 2,541
Total Liabilities and Shareholders' Equity 26,499

Statements of Operations

Statements of Operations
Income
Maintenance charges 13,362
Less: Abatements (1,273)
Operating assessments 1,440
Commercial rent 1,236
Transfer fees 237
Laundry income 55
Other income 346
Total Income 15,403
Expenses
Real estate taxes 8,309
Less: Abatements (1,273)
Mortgage interest 852
Payroll and related expenses 4,146
Electric and gas 188
Heating 404
Water and sewer 338
Repairs and maintenance 692
Insurance 288
Management fees 344
Professional fees 257
Corporation taxes 81
Office and administration 142
Total Expenses 14,768
Income from Operations 634
Other Items
Capital assessment 2,697
Commercial rent - straight-line adjustment 52
Depreciation (1,576)
Interest - amortization of mortgage costs (26)
Net Income (Loss) 1,782