Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#13E
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 360
Cash and cash equivalents - reserve fund 5,344
Bank certificates of deposits - reserve fund 2,001
Due from shareholders 392
Due from commercial tenants 124
Other receivables 11
Prepaid real estate taxes -0-
Prepaid expenses 188
Property and equipment - net 25,500
Investment in NCB stock 80
Security deposits held 1,024
Total Assets 35,025
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 605
Capital improvements payable -0-
Abatements payable 836
Maintenance charges received in advance 49
Deferred commercial rent 439
Mortgage payable 28,924
Less: Mortgage costs - net (211)
Security deposits payable 1,024
Total Liabilities 31,666
Shareholders' Equity
Capital stock 795
Additional paid-in capital 50,128
Retained earnings (deficit) (47,564)
Total Shareholders' Equity 3,359
Total Liabilities and Shareholders' Equity 35,025

Statements of Operations

Statements of Operations
Income
Maintenance charges 17,662
Less: Abatements (1,682)
Operating assessments 1,903
Commercial rent 1,634
Transfer fees 313
Laundry income 72
Other income 457
Total Income 20,358
Expenses
Real estate taxes 10,982
Less: Abatements (1,682)
Mortgage interest 1,126
Payroll and related expenses 5,480
Electric and gas 248
Heating 534
Water and sewer 447
Repairs and maintenance 915
Insurance 380
Management fees 455
Professional fees 340
Corporation taxes 107
Office and administration 188
Total Expenses 19,520
Income from Operations 838
Other Items
Capital assessment 3,565
Commercial rent - straight-line adjustment 69
Depreciation (2,083)
Interest - amortization of mortgage costs (34)
Net Income (Loss) 2,355