Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#15D
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 658
Cash and cash equivalents - reserve fund 9,774
Bank certificates of deposits - reserve fund 3,661
Due from shareholders 717
Due from commercial tenants 227
Other receivables 21
Prepaid real estate taxes -0-
Prepaid expenses 344
Property and equipment - net 46,639
Investment in NCB stock 146
Security deposits held 1,873
Total Assets 64,060
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 1,107
Capital improvements payable -0-
Abatements payable 1,529
Maintenance charges received in advance 89
Deferred commercial rent 804
Mortgage payable 52,900
Less: Mortgage costs - net (385)
Security deposits payable 1,873
Total Liabilities 57,916
Shareholders' Equity
Capital stock 1,455
Additional paid-in capital 91,681
Retained earnings (deficit) (86,993)
Total Shareholders' Equity 6,143
Total Liabilities and Shareholders' Equity 64,060

Statements of Operations

Statements of Operations
Income
Maintenance charges 32,302
Less: Abatements (3,077)
Operating assessments 3,481
Commercial rent 2,988
Transfer fees 572
Laundry income 132
Other income 836
Total Income 37,234
Expenses
Real estate taxes 20,086
Less: Abatements (3,077)
Mortgage interest 2,060
Payroll and related expenses 10,023
Electric and gas 454
Heating 977
Water and sewer 817
Repairs and maintenance 1,673
Insurance 695
Management fees 832
Professional fees 622
Corporation taxes 196
Office and administration 343
Total Expenses 35,701
Income from Operations 1,533
Other Items
Capital assessment 6,520
Commercial rent - straight-line adjustment 126
Depreciation (3,810)
Interest - amortization of mortgage costs (62)
Net Income (Loss) 4,307