Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#14D
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 803
Cash and cash equivalents - reserve fund 11,919
Bank certificates of deposits - reserve fund 4,464
Due from shareholders 875
Due from commercial tenants 277
Other receivables 25
Prepaid real estate taxes -0-
Prepaid expenses 419
Property and equipment - net 56,872
Investment in NCB stock 178
Security deposits held 2,284
Total Assets 78,116
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 1,350
Capital improvements payable -0-
Abatements payable 1,865
Maintenance charges received in advance 108
Deferred commercial rent 980
Mortgage payable 64,507
Less: Mortgage costs - net (470)
Security deposits payable 2,284
Total Liabilities 70,625
Shareholders' Equity
Capital stock 1,774
Additional paid-in capital 111,798
Retained earnings (deficit) (106,081)
Total Shareholders' Equity 7,491
Total Liabilities and Shareholders' Equity 78,116

Statements of Operations

Statements of Operations
Income
Maintenance charges 39,390
Less: Abatements (3,752)
Operating assessments 4,245
Commercial rent 3,644
Transfer fees 697
Laundry income 161
Other income 1,019
Total Income 45,404
Expenses
Real estate taxes 24,493
Less: Abatements (3,752)
Mortgage interest 2,511
Payroll and related expenses 12,222
Electric and gas 554
Heating 1,191
Water and sewer 996
Repairs and maintenance 2,041
Insurance 848
Management fees 1,014
Professional fees 759
Corporation taxes 239
Office and administration 419
Total Expenses 43,535
Income from Operations 1,869
Other Items
Capital assessment 7,950
Commercial rent - straight-line adjustment 154
Depreciation (4,645)
Interest - amortization of mortgage costs (76)
Net Income (Loss) 5,252