Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#14D
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 1,172
Cash and cash equivalents - reserve fund 8,494
Bank certificates of deposits - reserve fund 448
Due from shareholders 374
Due from commercial tenants 287
Other receivables 108
Prepaid real estate taxes 5,079
Prepaid expenses 488
Property and equipment - net 56,864
Investment in NCB stock 178
Security deposits held 1,868
Total Assets 75,360
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 1,072
Capital improvements payable 2,906
Abatements payable 1,798
Maintenance charges received in advance 380
Deferred commercial rent 1,134
Mortgage payable 64,507
Less: Mortgage costs - net (545)
Security deposits payable 1,868
Total Liabilities 73,120
Shareholders' Equity
Capital stock 1,774
Additional paid-in capital 111,798
Retained earnings (deficit) (111,333)
Total Shareholders' Equity 2,239
Total Liabilities and Shareholders' Equity 75,360

Statements of Operations

Statements of Operations
Income
Maintenance charges 37,695
Less: Abatements (3,542)
Operating assessments 4,114
Commercial rent 3,356
Transfer fees 611
Laundry income 161
Other income 1,129
Total Income 43,525
Expenses
Real estate taxes 24,030
Less: Abatements (3,542)
Mortgage interest 2,511
Payroll and related expenses 12,380
Electric and gas 571
Heating 1,085
Water and sewer 859
Repairs and maintenance 2,111
Insurance 823
Management fees 985
Professional fees 1,120
Corporation taxes 252
Office and administration 303
Total Expenses 43,488
Income from Operations 37
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 154
Depreciation (4,428)
Interest - amortization of mortgage costs (76)
Net Income (Loss) (4,313)