Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#14C
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 439
Cash and cash equivalents - reserve fund 3,182
Bank certificates of deposits - reserve fund 168
Due from shareholders 140
Due from commercial tenants 107
Other receivables 40
Prepaid real estate taxes 1,903
Prepaid expenses 183
Property and equipment - net 21,303
Investment in NCB stock 67
Security deposits held 700
Total Assets 28,232
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 402
Capital improvements payable 1,089
Abatements payable 674
Maintenance charges received in advance 142
Deferred commercial rent 425
Mortgage payable 24,166
Less: Mortgage costs - net (204)
Security deposits payable 700
Total Liabilities 27,393
Shareholders' Equity
Capital stock 665
Additional paid-in capital 41,883
Retained earnings (deficit) (41,709)
Total Shareholders' Equity 839
Total Liabilities and Shareholders' Equity 28,232

Statements of Operations

Statements of Operations
Income
Maintenance charges 14,122
Less: Abatements (1,327)
Operating assessments 1,541
Commercial rent 1,257
Transfer fees 229
Laundry income 60
Other income 423
Total Income 16,306
Expenses
Real estate taxes 9,003
Less: Abatements (1,327)
Mortgage interest 941
Payroll and related expenses 4,638
Electric and gas 214
Heating 407
Water and sewer 322
Repairs and maintenance 791
Insurance 308
Management fees 369
Professional fees 420
Corporation taxes 94
Office and administration 114
Total Expenses 16,292
Income from Operations 14
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 58
Depreciation (1,659)
Interest - amortization of mortgage costs (28)
Net Income (Loss) (1,616)