Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#12J
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 742
Cash and cash equivalents - reserve fund 5,377
Bank certificates of deposits - reserve fund 284
Due from shareholders 237
Due from commercial tenants 182
Other receivables 68
Prepaid real estate taxes 3,215
Prepaid expenses 309
Property and equipment - net 35,997
Investment in NCB stock 113
Security deposits held 1,183
Total Assets 47,706
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 679
Capital improvements payable 1,839
Abatements payable 1,138
Maintenance charges received in advance 241
Deferred commercial rent 718
Mortgage payable 40,836
Less: Mortgage costs - net (345)
Security deposits payable 1,183
Total Liabilities 46,288
Shareholders' Equity
Capital stock 1,123
Additional paid-in capital 70,772
Retained earnings (deficit) (70,478)
Total Shareholders' Equity 1,417
Total Liabilities and Shareholders' Equity 47,706

Statements of Operations

Statements of Operations
Income
Maintenance charges 23,863
Less: Abatements (2,242)
Operating assessments 2,604
Commercial rent 2,124
Transfer fees 387
Laundry income 102
Other income 715
Total Income 27,553
Expenses
Real estate taxes 15,212
Less: Abatements (2,242)
Mortgage interest 1,590
Payroll and related expenses 7,837
Electric and gas 361
Heating 687
Water and sewer 544
Repairs and maintenance 1,336
Insurance 521
Management fees 623
Professional fees 709
Corporation taxes 159
Office and administration 192
Total Expenses 27,529
Income from Operations 23
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 97
Depreciation (2,803)
Interest - amortization of mortgage costs (48)
Net Income (Loss) (2,730)