Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#5C
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 223
Cash and cash equivalents - reserve fund 3,305
Bank certificates of deposits - reserve fund 1,238
Due from shareholders 243
Due from commercial tenants 77
Other receivables 7
Prepaid real estate taxes -0-
Prepaid expenses 116
Property and equipment - net 15,770
Investment in NCB stock 49
Security deposits held 633
Total Assets 21,660
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 374
Capital improvements payable -0-
Abatements payable 517
Maintenance charges received in advance 30
Deferred commercial rent 272
Mortgage payable 17,887
Less: Mortgage costs - net (130)
Security deposits payable 633
Total Liabilities 19,583
Shareholders' Equity
Capital stock 492
Additional paid-in capital 31,000
Retained earnings (deficit) (29,415)
Total Shareholders' Equity 2,077
Total Liabilities and Shareholders' Equity 21,660

Statements of Operations

Statements of Operations
Income
Maintenance charges 10,922
Less: Abatements (1,040)
Operating assessments 1,177
Commercial rent 1,010
Transfer fees 193
Laundry income 45
Other income 283
Total Income 12,590
Expenses
Real estate taxes 6,792
Less: Abatements (1,040)
Mortgage interest 696
Payroll and related expenses 3,389
Electric and gas 154
Heating 330
Water and sewer 276
Repairs and maintenance 566
Insurance 235
Management fees 281
Professional fees 210
Corporation taxes 66
Office and administration 116
Total Expenses 12,072
Income from Operations 518
Other Items
Capital assessment 2,204
Commercial rent - straight-line adjustment 43
Depreciation (1,288)
Interest - amortization of mortgage costs (21)
Net Income (Loss) 1,456