Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#3A
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 344
Cash and cash equivalents - reserve fund 5,105
Bank certificates of deposits - reserve fund 1,912
Due from shareholders 375
Due from commercial tenants 119
Other receivables 11
Prepaid real estate taxes -0-
Prepaid expenses 179
Property and equipment - net 24,359
Investment in NCB stock 76
Security deposits held 978
Total Assets 33,458
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 578
Capital improvements payable -0-
Abatements payable 799
Maintenance charges received in advance 46
Deferred commercial rent 420
Mortgage payable 27,630
Less: Mortgage costs - net (201)
Security deposits payable 978
Total Liabilities 30,250
Shareholders' Equity
Capital stock 760
Additional paid-in capital 47,885
Retained earnings (deficit) (45,436)
Total Shareholders' Equity 3,209
Total Liabilities and Shareholders' Equity 33,458

Statements of Operations

Statements of Operations
Income
Maintenance charges 16,871
Less: Abatements (1,607)
Operating assessments 1,818
Commercial rent 1,561
Transfer fees 299
Laundry income 69
Other income 437
Total Income 19,447
Expenses
Real estate taxes 10,491
Less: Abatements (1,607)
Mortgage interest 1,076
Payroll and related expenses 5,235
Electric and gas 237
Heating 510
Water and sewer 427
Repairs and maintenance 874
Insurance 363
Management fees 434
Professional fees 325
Corporation taxes 102
Office and administration 179
Total Expenses 18,647
Income from Operations 801
Other Items
Capital assessment 3,405
Commercial rent - straight-line adjustment 66
Depreciation (1,990)
Interest - amortization of mortgage costs (32)
Net Income (Loss) 2,250