Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#2A
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 334
Cash and cash equivalents - reserve fund 4,965
Bank certificates of deposits - reserve fund 1,859
Due from shareholders 364
Due from commercial tenants 115
Other receivables 10
Prepaid real estate taxes -0-
Prepaid expenses 174
Property and equipment - net 23,688
Investment in NCB stock 74
Security deposits held 951
Total Assets 32,537
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 562
Capital improvements payable -0-
Abatements payable 777
Maintenance charges received in advance 45
Deferred commercial rent 408
Mortgage payable 26,869
Less: Mortgage costs - net (196)
Security deposits payable 951
Total Liabilities 29,416
Shareholders' Equity
Capital stock 739
Additional paid-in capital 46,566
Retained earnings (deficit) (44,185)
Total Shareholders' Equity 3,120
Total Liabilities and Shareholders' Equity 32,537

Statements of Operations

Statements of Operations
Income
Maintenance charges 16,407
Less: Abatements (1,563)
Operating assessments 1,768
Commercial rent 1,518
Transfer fees 291
Laundry income 67
Other income 425
Total Income 18,912
Expenses
Real estate taxes 10,202
Less: Abatements (1,563)
Mortgage interest 1,046
Payroll and related expenses 5,091
Electric and gas 231
Heating 496
Water and sewer 415
Repairs and maintenance 850
Insurance 353
Management fees 422
Professional fees 316
Corporation taxes 100
Office and administration 174
Total Expenses 18,133
Income from Operations 779
Other Items
Capital assessment 3,311
Commercial rent - straight-line adjustment 64
Depreciation (1,935)
Interest - amortization of mortgage costs (32)
Net Income (Loss) 2,188