Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#4G
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 267
Cash and cash equivalents - reserve fund 3,966
Bank certificates of deposits - reserve fund 1,485
Due from shareholders 291
Due from commercial tenants 92
Other receivables 8
Prepaid real estate taxes -0-
Prepaid expenses 139
Property and equipment - net 18,924
Investment in NCB stock 59
Security deposits held 760
Total Assets 25,993
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 449
Capital improvements payable -0-
Abatements payable 621
Maintenance charges received in advance 36
Deferred commercial rent 326
Mortgage payable 21,464
Less: Mortgage costs - net (156)
Security deposits payable 760
Total Liabilities 23,500
Shareholders' Equity
Capital stock 590
Additional paid-in capital 37,200
Retained earnings (deficit) (35,298)
Total Shareholders' Equity 2,493
Total Liabilities and Shareholders' Equity 25,993

Statements of Operations

Statements of Operations
Income
Maintenance charges 13,107
Less: Abatements (1,249)
Operating assessments 1,412
Commercial rent 1,212
Transfer fees 232
Laundry income 54
Other income 339
Total Income 15,108
Expenses
Real estate taxes 8,150
Less: Abatements (1,249)
Mortgage interest 836
Payroll and related expenses 4,067
Electric and gas 184
Heating 396
Water and sewer 332
Repairs and maintenance 679
Insurance 282
Management fees 337
Professional fees 253
Corporation taxes 80
Office and administration 139
Total Expenses 14,486
Income from Operations 622
Other Items
Capital assessment 2,645
Commercial rent - straight-line adjustment 51
Depreciation (1,546)
Interest - amortization of mortgage costs (25)
Net Income (Loss) 1,748