Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#15B
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 450
Cash and cash equivalents - reserve fund 3,257
Bank certificates of deposits - reserve fund 172
Due from shareholders 144
Due from commercial tenants 110
Other receivables 41
Prepaid real estate taxes 1,948
Prepaid expenses 187
Property and equipment - net 21,806
Investment in NCB stock 68
Security deposits held 717
Total Assets 28,899
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 411
Capital improvements payable 1,114
Abatements payable 690
Maintenance charges received in advance 146
Deferred commercial rent 435
Mortgage payable 24,737
Less: Mortgage costs - net (209)
Security deposits payable 717
Total Liabilities 28,040
Shareholders' Equity
Capital stock 680
Additional paid-in capital 42,872
Retained earnings (deficit) (42,694)
Total Shareholders' Equity 859
Total Liabilities and Shareholders' Equity 28,899

Statements of Operations

Statements of Operations
Income
Maintenance charges 14,455
Less: Abatements (1,358)
Operating assessments 1,578
Commercial rent 1,287
Transfer fees 234
Laundry income 62
Other income 433
Total Income 16,691
Expenses
Real estate taxes 9,215
Less: Abatements (1,358)
Mortgage interest 963
Payroll and related expenses 4,748
Electric and gas 219
Heating 416
Water and sewer 329
Repairs and maintenance 809
Insurance 316
Management fees 378
Professional fees 430
Corporation taxes 97
Office and administration 116
Total Expenses 16,677
Income from Operations 14
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 59
Depreciation (1,698)
Interest - amortization of mortgage costs (29)
Net Income (Loss) (1,654)