Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#3B
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 208
Cash and cash equivalents - reserve fund 3,094
Bank certificates of deposits - reserve fund 1,159
Due from shareholders 227
Due from commercial tenants 72
Other receivables 7
Prepaid real estate taxes -0-
Prepaid expenses 109
Property and equipment - net 14,763
Investment in NCB stock 46
Security deposits held 593
Total Assets 20,278
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 350
Capital improvements payable -0-
Abatements payable 484
Maintenance charges received in advance 28
Deferred commercial rent 254
Mortgage payable 16,745
Less: Mortgage costs - net (122)
Security deposits payable 593
Total Liabilities 18,333
Shareholders' Equity
Capital stock 461
Additional paid-in capital 29,021
Retained earnings (deficit) (27,537)
Total Shareholders' Equity 1,945
Total Liabilities and Shareholders' Equity 20,278

Statements of Operations

Statements of Operations
Income
Maintenance charges 10,225
Less: Abatements (974)
Operating assessments 1,102
Commercial rent 946
Transfer fees 181
Laundry income 42
Other income 265
Total Income 11,786
Expenses
Real estate taxes 6,358
Less: Abatements (974)
Mortgage interest 652
Payroll and related expenses 3,173
Electric and gas 144
Heating 309
Water and sewer 259
Repairs and maintenance 530
Insurance 220
Management fees 263
Professional fees 197
Corporation taxes 62
Office and administration 109
Total Expenses 11,301
Income from Operations 485
Other Items
Capital assessment 2,064
Commercial rent - straight-line adjustment 40
Depreciation (1,206)
Interest - amortization of mortgage costs (20)
Net Income (Loss) 1,363