Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#3J
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 391
Cash and cash equivalents - reserve fund 5,808
Bank certificates of deposits - reserve fund 2,175
Due from shareholders 426
Due from commercial tenants 135
Other receivables 12
Prepaid real estate taxes -0-
Prepaid expenses 204
Property and equipment - net 27,715
Investment in NCB stock 87
Security deposits held 1,113
Total Assets 38,067
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 658
Capital improvements payable -0-
Abatements payable 909
Maintenance charges received in advance 53
Deferred commercial rent 478
Mortgage payable 31,435
Less: Mortgage costs - net (229)
Security deposits payable 1,113
Total Liabilities 34,416
Shareholders' Equity
Capital stock 865
Additional paid-in capital 54,481
Retained earnings (deficit) (51,695)
Total Shareholders' Equity 3,651
Total Liabilities and Shareholders' Equity 38,067

Statements of Operations

Statements of Operations
Income
Maintenance charges 19,195
Less: Abatements (1,829)
Operating assessments 2,069
Commercial rent 1,776
Transfer fees 340
Laundry income 79
Other income 497
Total Income 22,126
Expenses
Real estate taxes 11,936
Less: Abatements (1,829)
Mortgage interest 1,224
Payroll and related expenses 5,956
Electric and gas 270
Heating 580
Water and sewer 486
Repairs and maintenance 994
Insurance 413
Management fees 494
Professional fees 370
Corporation taxes 117
Office and administration 204
Total Expenses 21,215
Income from Operations 911
Other Items
Capital assessment 3,874
Commercial rent - straight-line adjustment 75
Depreciation (2,264)
Interest - amortization of mortgage costs (37)
Net Income (Loss) 2,559