Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#11J
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 495
Cash and cash equivalents - reserve fund 7,348
Bank certificates of deposits - reserve fund 2,752
Due from shareholders 539
Due from commercial tenants 171
Other receivables 16
Prepaid real estate taxes -0-
Prepaid expenses 258
Property and equipment - net 35,063
Investment in NCB stock 110
Security deposits held 1,408
Total Assets 48,160
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 832
Capital improvements payable -0-
Abatements payable 1,150
Maintenance charges received in advance 67
Deferred commercial rent 604
Mortgage payable 39,770
Less: Mortgage costs - net (290)
Security deposits payable 1,408
Total Liabilities 43,541
Shareholders' Equity
Capital stock 1,094
Additional paid-in capital 68,926
Retained earnings (deficit) (65,401)
Total Shareholders' Equity 4,619
Total Liabilities and Shareholders' Equity 48,160

Statements of Operations

Statements of Operations
Income
Maintenance charges 24,285
Less: Abatements (2,313)
Operating assessments 2,617
Commercial rent 2,246
Transfer fees 430
Laundry income 99
Other income 628
Total Income 27,992
Expenses
Real estate taxes 15,100
Less: Abatements (2,313)
Mortgage interest 1,548
Payroll and related expenses 7,535
Electric and gas 342
Heating 734
Water and sewer 614
Repairs and maintenance 1,258
Insurance 523
Management fees 625
Professional fees 468
Corporation taxes 148
Office and administration 258
Total Expenses 26,840
Income from Operations 1,152
Other Items
Capital assessment 4,901
Commercial rent - straight-line adjustment 95
Depreciation (2,864)
Interest - amortization of mortgage costs (47)
Net Income (Loss) 3,238