Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#12B
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 282
Cash and cash equivalents - reserve fund 4,184
Bank certificates of deposits - reserve fund 1,567
Due from shareholders 307
Due from commercial tenants 97
Other receivables 9
Prepaid real estate taxes -0-
Prepaid expenses 147
Property and equipment - net 19,964
Investment in NCB stock 62
Security deposits held 802
Total Assets 27,421
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 474
Capital improvements payable -0-
Abatements payable 655
Maintenance charges received in advance 38
Deferred commercial rent 344
Mortgage payable 22,644
Less: Mortgage costs - net (165)
Security deposits payable 802
Total Liabilities 24,791
Shareholders' Equity
Capital stock 623
Additional paid-in capital 39,245
Retained earnings (deficit) (37,238)
Total Shareholders' Equity 2,630
Total Liabilities and Shareholders' Equity 27,421

Statements of Operations

Statements of Operations
Income
Maintenance charges 13,827
Less: Abatements (1,317)
Operating assessments 1,490
Commercial rent 1,279
Transfer fees 245
Laundry income 57
Other income 358
Total Income 15,938
Expenses
Real estate taxes 8,598
Less: Abatements (1,317)
Mortgage interest 882
Payroll and related expenses 4,290
Electric and gas 194
Heating 418
Water and sewer 350
Repairs and maintenance 716
Insurance 298
Management fees 356
Professional fees 266
Corporation taxes 84
Office and administration 147
Total Expenses 15,282
Income from Operations 656
Other Items
Capital assessment 2,791
Commercial rent - straight-line adjustment 54
Depreciation (1,631)
Interest - amortization of mortgage costs (27)
Net Income (Loss) 1,844