Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#5F
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 402
Cash and cash equivalents - reserve fund 2,911
Bank certificates of deposits - reserve fund 154
Due from shareholders 128
Due from commercial tenants 98
Other receivables 37
Prepaid real estate taxes 1,741
Prepaid expenses 167
Property and equipment - net 19,491
Investment in NCB stock 61
Security deposits held 640
Total Assets 25,831
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 367
Capital improvements payable 996
Abatements payable 616
Maintenance charges received in advance 130
Deferred commercial rent 389
Mortgage payable 22,111
Less: Mortgage costs - net (187)
Security deposits payable 640
Total Liabilities 25,064
Shareholders' Equity
Capital stock 608
Additional paid-in capital 38,321
Retained earnings (deficit) (38,162)
Total Shareholders' Equity 768
Total Liabilities and Shareholders' Equity 25,831

Statements of Operations

Statements of Operations
Income
Maintenance charges 12,921
Less: Abatements (1,214)
Operating assessments 1,410
Commercial rent 1,150
Transfer fees 210
Laundry income 55
Other income 387
Total Income 14,919
Expenses
Real estate taxes 8,237
Less: Abatements (1,214)
Mortgage interest 861
Payroll and related expenses 4,244
Electric and gas 196
Heating 372
Water and sewer 294
Repairs and maintenance 723
Insurance 282
Management fees 337
Professional fees 384
Corporation taxes 86
Office and administration 104
Total Expenses 14,906
Income from Operations 13
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 53
Depreciation (1,518)
Interest - amortization of mortgage costs (26)
Net Income (Loss) (1,478)