Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#11H
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 338
Cash and cash equivalents - reserve fund 5,014
Bank certificates of deposits - reserve fund 1,878
Due from shareholders 368
Due from commercial tenants 117
Other receivables 11
Prepaid real estate taxes -0-
Prepaid expenses 176
Property and equipment - net 23,923
Investment in NCB stock 75
Security deposits held 961
Total Assets 32,859
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 568
Capital improvements payable -0-
Abatements payable 785
Maintenance charges received in advance 46
Deferred commercial rent 412
Mortgage payable 27,135
Less: Mortgage costs - net (198)
Security deposits payable 961
Total Liabilities 29,708
Shareholders' Equity
Capital stock 746
Additional paid-in capital 47,028
Retained earnings (deficit) (44,623)
Total Shareholders' Equity 3,151
Total Liabilities and Shareholders' Equity 32,859

Statements of Operations

Statements of Operations
Income
Maintenance charges 16,569
Less: Abatements (1,578)
Operating assessments 1,786
Commercial rent 1,533
Transfer fees 293
Laundry income 68
Other income 429
Total Income 19,099
Expenses
Real estate taxes 10,303
Less: Abatements (1,578)
Mortgage interest 1,056
Payroll and related expenses 5,141
Electric and gas 233
Heating 501
Water and sewer 419
Repairs and maintenance 858
Insurance 357
Management fees 427
Professional fees 319
Corporation taxes 101
Office and administration 176
Total Expenses 18,313
Income from Operations 786
Other Items
Capital assessment 3,344
Commercial rent - straight-line adjustment 65
Depreciation (1,954)
Interest - amortization of mortgage costs (32)
Net Income (Loss) 2,209