Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#6F
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 284
Cash and cash equivalents - reserve fund 4,219
Bank certificates of deposits - reserve fund 1,580
Due from shareholders 310
Due from commercial tenants 98
Other receivables 9
Prepaid real estate taxes -0-
Prepaid expenses 148
Property and equipment - net 20,132
Investment in NCB stock 63
Security deposits held 808
Total Assets 27,652
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 478
Capital improvements payable -0-
Abatements payable 660
Maintenance charges received in advance 38
Deferred commercial rent 347
Mortgage payable 22,834
Less: Mortgage costs - net (166)
Security deposits payable 808
Total Liabilities 25,000
Shareholders' Equity
Capital stock 628
Additional paid-in capital 39,575
Retained earnings (deficit) (37,551)
Total Shareholders' Equity 2,652
Total Liabilities and Shareholders' Equity 27,652

Statements of Operations

Statements of Operations
Income
Maintenance charges 13,943
Less: Abatements (1,328)
Operating assessments 1,503
Commercial rent 1,290
Transfer fees 247
Laundry income 57
Other income 361
Total Income 16,072
Expenses
Real estate taxes 8,670
Less: Abatements (1,328)
Mortgage interest 889
Payroll and related expenses 4,326
Electric and gas 196
Heating 422
Water and sewer 353
Repairs and maintenance 722
Insurance 300
Management fees 359
Professional fees 269
Corporation taxes 85
Office and administration 148
Total Expenses 15,411
Income from Operations 662
Other Items
Capital assessment 2,814
Commercial rent - straight-line adjustment 54
Depreciation (1,644)
Interest - amortization of mortgage costs (27)
Net Income (Loss) 1,859