Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#13F
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 355
Cash and cash equivalents - reserve fund 5,274
Bank certificates of deposits - reserve fund 1,975
Due from shareholders 387
Due from commercial tenants 123
Other receivables 11
Prepaid real estate taxes -0-
Prepaid expenses 185
Property and equipment - net 25,165
Investment in NCB stock 79
Security deposits held 1,010
Total Assets 34,565
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 597
Capital improvements payable -0-
Abatements payable 825
Maintenance charges received in advance 48
Deferred commercial rent 434
Mortgage payable 28,543
Less: Mortgage costs - net (208)
Security deposits payable 1,010
Total Liabilities 31,250
Shareholders' Equity
Capital stock 785
Additional paid-in capital 49,468
Retained earnings (deficit) (46,938)
Total Shareholders' Equity 3,315
Total Liabilities and Shareholders' Equity 34,565

Statements of Operations

Statements of Operations
Income
Maintenance charges 17,429
Less: Abatements (1,660)
Operating assessments 1,878
Commercial rent 1,612
Transfer fees 309
Laundry income 71
Other income 451
Total Income 20,090
Expenses
Real estate taxes 10,838
Less: Abatements (1,660)
Mortgage interest 1,111
Payroll and related expenses 5,408
Electric and gas 245
Heating 527
Water and sewer 441
Repairs and maintenance 903
Insurance 375
Management fees 449
Professional fees 336
Corporation taxes 106
Office and administration 185
Total Expenses 19,263
Income from Operations 827
Other Items
Capital assessment 3,518
Commercial rent - straight-line adjustment 68
Depreciation (2,055)
Interest - amortization of mortgage costs (33)
Net Income (Loss) 2,324