Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#4D
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 404
Cash and cash equivalents - reserve fund 5,991
Bank certificates of deposits - reserve fund 2,244
Due from shareholders 440
Due from commercial tenants 139
Other receivables 13
Prepaid real estate taxes -0-
Prepaid expenses 211
Property and equipment - net 28,587
Investment in NCB stock 89
Security deposits held 1,148
Total Assets 39,265
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 679
Capital improvements payable -0-
Abatements payable 937
Maintenance charges received in advance 54
Deferred commercial rent 493
Mortgage payable 32,425
Less: Mortgage costs - net (236)
Security deposits payable 1,148
Total Liabilities 35,500
Shareholders' Equity
Capital stock 892
Additional paid-in capital 56,196
Retained earnings (deficit) (53,322)
Total Shareholders' Equity 3,766
Total Liabilities and Shareholders' Equity 39,265

Statements of Operations

Statements of Operations
Income
Maintenance charges 19,800
Less: Abatements (1,886)
Operating assessments 2,134
Commercial rent 1,832
Transfer fees 351
Laundry income 81
Other income 512
Total Income 22,823
Expenses
Real estate taxes 12,311
Less: Abatements (1,886)
Mortgage interest 1,262
Payroll and related expenses 6,143
Electric and gas 278
Heating 599
Water and sewer 501
Repairs and maintenance 1,026
Insurance 426
Management fees 510
Professional fees 381
Corporation taxes 120
Office and administration 210
Total Expenses 21,883
Income from Operations 940
Other Items
Capital assessment 3,996
Commercial rent - straight-line adjustment 77
Depreciation (2,335)
Interest - amortization of mortgage costs (38)
Net Income (Loss) 2,640