Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#6A
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 548
Cash and cash equivalents - reserve fund 3,974
Bank certificates of deposits - reserve fund 210
Due from shareholders 175
Due from commercial tenants 134
Other receivables 50
Prepaid real estate taxes 2,376
Prepaid expenses 228
Property and equipment - net 26,603
Investment in NCB stock 83
Security deposits held 874
Total Assets 35,257
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 502
Capital improvements payable 1,359
Abatements payable 841
Maintenance charges received in advance 178
Deferred commercial rent 531
Mortgage payable 30,180
Less: Mortgage costs - net (255)
Security deposits payable 874
Total Liabilities 34,209
Shareholders' Equity
Capital stock 830
Additional paid-in capital 52,304
Retained earnings (deficit) (52,087)
Total Shareholders' Equity 1,048
Total Liabilities and Shareholders' Equity 35,257

Statements of Operations

Statements of Operations
Income
Maintenance charges 17,636
Less: Abatements (1,657)
Operating assessments 1,925
Commercial rent 1,570
Transfer fees 286
Laundry income 75
Other income 528
Total Income 20,363
Expenses
Real estate taxes 11,242
Less: Abatements (1,657)
Mortgage interest 1,175
Payroll and related expenses 5,792
Electric and gas 267
Heating 508
Water and sewer 402
Repairs and maintenance 987
Insurance 385
Management fees 461
Professional fees 524
Corporation taxes 118
Office and administration 142
Total Expenses 20,346
Income from Operations 17
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 72
Depreciation (2,072)
Interest - amortization of mortgage costs (35)
Net Income (Loss) (2,018)