Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#12A
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 654
Cash and cash equivalents - reserve fund 4,741
Bank certificates of deposits - reserve fund 250
Due from shareholders 209
Due from commercial tenants 160
Other receivables 60
Prepaid real estate taxes 2,834
Prepaid expenses 272
Property and equipment - net 31,736
Investment in NCB stock 99
Security deposits held 1,043
Total Assets 42,059
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 598
Capital improvements payable 1,622
Abatements payable 1,004
Maintenance charges received in advance 212
Deferred commercial rent 633
Mortgage payable 36,002
Less: Mortgage costs - net (304)
Security deposits payable 1,043
Total Liabilities 40,809
Shareholders' Equity
Capital stock 990
Additional paid-in capital 62,396
Retained earnings (deficit) (62,136)
Total Shareholders' Equity 1,250
Total Liabilities and Shareholders' Equity 42,059

Statements of Operations

Statements of Operations
Income
Maintenance charges 21,038
Less: Abatements (1,977)
Operating assessments 2,296
Commercial rent 1,873
Transfer fees 341
Laundry income 90
Other income 630
Total Income 24,292
Expenses
Real estate taxes 13,412
Less: Abatements (1,977)
Mortgage interest 1,402
Payroll and related expenses 6,910
Electric and gas 319
Heating 606
Water and sewer 479
Repairs and maintenance 1,178
Insurance 459
Management fees 549
Professional fees 625
Corporation taxes 140
Office and administration 169
Total Expenses 24,271
Income from Operations 21
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 86
Depreciation (2,471)
Interest - amortization of mortgage costs (42)
Net Income (Loss) (2,407)