Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#12D
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 508
Cash and cash equivalents - reserve fund 7,545
Bank certificates of deposits - reserve fund 2,826
Due from shareholders 554
Due from commercial tenants 175
Other receivables 16
Prepaid real estate taxes -0-
Prepaid expenses 265
Property and equipment - net 36,002
Investment in NCB stock 113
Security deposits held 1,446
Total Assets 49,450
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 855
Capital improvements payable -0-
Abatements payable 1,181
Maintenance charges received in advance 69
Deferred commercial rent 620
Mortgage payable 40,836
Less: Mortgage costs - net (297)
Security deposits payable 1,446
Total Liabilities 44,708
Shareholders' Equity
Capital stock 1,123
Additional paid-in capital 70,772
Retained earnings (deficit) (67,153)
Total Shareholders' Equity 4,742
Total Liabilities and Shareholders' Equity 49,450

Statements of Operations

Statements of Operations
Income
Maintenance charges 24,935
Less: Abatements (2,375)
Operating assessments 2,687
Commercial rent 2,307
Transfer fees 442
Laundry income 102
Other income 645
Total Income 28,743
Expenses
Real estate taxes 15,505
Less: Abatements (2,375)
Mortgage interest 1,590
Payroll and related expenses 7,737
Electric and gas 351
Heating 754
Water and sewer 631
Repairs and maintenance 1,292
Insurance 537
Management fees 642
Professional fees 480
Corporation taxes 151
Office and administration 265
Total Expenses 27,559
Income from Operations 1,183
Other Items
Capital assessment 5,033
Commercial rent - straight-line adjustment 97
Depreciation (2,941)
Interest - amortization of mortgage costs (48)
Net Income (Loss) 3,325