Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#14F
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 1,822
Cash and cash equivalents - reserve fund 13,199
Bank certificates of deposits - reserve fund 696
Due from shareholders 582
Due from commercial tenants 446
Other receivables 167
Prepaid real estate taxes 7,892
Prepaid expenses 759
Property and equipment - net 88,365
Investment in NCB stock 276
Security deposits held 2,904
Total Assets 117,107
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 1,666
Capital improvements payable 4,515
Abatements payable 2,795
Maintenance charges received in advance 591
Deferred commercial rent 1,762
Mortgage payable 100,243
Less: Mortgage costs - net (848)
Security deposits payable 2,904
Total Liabilities 113,628
Shareholders' Equity
Capital stock 2,757
Additional paid-in capital 173,732
Retained earnings (deficit) (173,010)
Total Shareholders' Equity 3,480
Total Liabilities and Shareholders' Equity 117,107

Statements of Operations

Statements of Operations
Income
Maintenance charges 58,578
Less: Abatements (5,505)
Operating assessments 6,393
Commercial rent 5,215
Transfer fees 950
Laundry income 251
Other income 1,755
Total Income 67,637
Expenses
Real estate taxes 37,343
Less: Abatements (5,505)
Mortgage interest 3,903
Payroll and related expenses 19,239
Electric and gas 887
Heating 1,686
Water and sewer 1,334
Repairs and maintenance 3,280
Insurance 1,279
Management fees 1,530
Professional fees 1,741
Corporation taxes 391
Office and administration 471
Total Expenses 67,579
Income from Operations 58
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 239
Depreciation (6,881)
Interest - amortization of mortgage costs (118)
Net Income (Loss) (6,702)