Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#5H
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 409
Cash and cash equivalents - reserve fund 2,962
Bank certificates of deposits - reserve fund 156
Due from shareholders 131
Due from commercial tenants 100
Other receivables 37
Prepaid real estate taxes 1,771
Prepaid expenses 170
Property and equipment - net 19,827
Investment in NCB stock 62
Security deposits held 651
Total Assets 26,276
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 374
Capital improvements payable 1,013
Abatements payable 627
Maintenance charges received in advance 133
Deferred commercial rent 395
Mortgage payable 22,492
Less: Mortgage costs - net (190)
Security deposits payable 651
Total Liabilities 25,495
Shareholders' Equity
Capital stock 619
Additional paid-in capital 38,981
Retained earnings (deficit) (38,819)
Total Shareholders' Equity 781
Total Liabilities and Shareholders' Equity 26,276

Statements of Operations

Statements of Operations
Income
Maintenance charges 13,143
Less: Abatements (1,235)
Operating assessments 1,434
Commercial rent 1,170
Transfer fees 213
Laundry income 56
Other income 394
Total Income 15,176
Expenses
Real estate taxes 8,379
Less: Abatements (1,235)
Mortgage interest 876
Payroll and related expenses 4,317
Electric and gas 199
Heating 378
Water and sewer 299
Repairs and maintenance 736
Insurance 287
Management fees 343
Professional fees 391
Corporation taxes 88
Office and administration 106
Total Expenses 15,163
Income from Operations 13
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 54
Depreciation (1,544)
Interest - amortization of mortgage costs (26)
Net Income (Loss) (1,504)