Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#3H
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 264
Cash and cash equivalents - reserve fund 3,917
Bank certificates of deposits - reserve fund 1,467
Due from shareholders 288
Due from commercial tenants 91
Other receivables 8
Prepaid real estate taxes -0-
Prepaid expenses 138
Property and equipment - net 18,689
Investment in NCB stock 58
Security deposits held 750
Total Assets 25,670
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 444
Capital improvements payable -0-
Abatements payable 613
Maintenance charges received in advance 36
Deferred commercial rent 322
Mortgage payable 21,198
Less: Mortgage costs - net (154)
Security deposits payable 750
Total Liabilities 23,208
Shareholders' Equity
Capital stock 583
Additional paid-in capital 36,738
Retained earnings (deficit) (34,860)
Total Shareholders' Equity 2,462
Total Liabilities and Shareholders' Equity 25,670

Statements of Operations

Statements of Operations
Income
Maintenance charges 12,944
Less: Abatements (1,233)
Operating assessments 1,395
Commercial rent 1,197
Transfer fees 229
Laundry income 53
Other income 335
Total Income 14,920
Expenses
Real estate taxes 8,049
Less: Abatements (1,233)
Mortgage interest 825
Payroll and related expenses 4,016
Electric and gas 182
Heating 391
Water and sewer 327
Repairs and maintenance 671
Insurance 279
Management fees 333
Professional fees 249
Corporation taxes 79
Office and administration 138
Total Expenses 14,306
Income from Operations 614
Other Items
Capital assessment 2,613
Commercial rent - straight-line adjustment 51
Depreciation (1,527)
Interest - amortization of mortgage costs (25)
Net Income (Loss) 1,726