Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#13J
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 761
Cash and cash equivalents - reserve fund 5,512
Bank certificates of deposits - reserve fund 291
Due from shareholders 243
Due from commercial tenants 186
Other receivables 70
Prepaid real estate taxes 3,296
Prepaid expenses 317
Property and equipment - net 36,903
Investment in NCB stock 115
Security deposits held 1,213
Total Assets 48,906
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 696
Capital improvements payable 1,886
Abatements payable 1,167
Maintenance charges received in advance 247
Deferred commercial rent 736
Mortgage payable 41,863
Less: Mortgage costs - net (354)
Security deposits payable 1,213
Total Liabilities 47,453
Shareholders' Equity
Capital stock 1,151
Additional paid-in capital 72,553
Retained earnings (deficit) (72,252)
Total Shareholders' Equity 1,453
Total Liabilities and Shareholders' Equity 48,906

Statements of Operations

Statements of Operations
Income
Maintenance charges 24,463
Less: Abatements (2,299)
Operating assessments 2,670
Commercial rent 2,178
Transfer fees 397
Laundry income 105
Other income 733
Total Income 28,246
Expenses
Real estate taxes 15,595
Less: Abatements (2,299)
Mortgage interest 1,630
Payroll and related expenses 8,034
Electric and gas 370
Heating 704
Water and sewer 557
Repairs and maintenance 1,370
Insurance 534
Management fees 639
Professional fees 727
Corporation taxes 163
Office and administration 197
Total Expenses 28,222
Income from Operations 24
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 100
Depreciation (2,874)
Interest - amortization of mortgage costs (49)
Net Income (Loss) (2,799)