Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#6J
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 626
Cash and cash equivalents - reserve fund 4,535
Bank certificates of deposits - reserve fund 239
Due from shareholders 200
Due from commercial tenants 153
Other receivables 57
Prepaid real estate taxes 2,712
Prepaid expenses 261
Property and equipment - net 30,361
Investment in NCB stock 95
Security deposits held 998
Total Assets 40,236
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 572
Capital improvements payable 1,551
Abatements payable 960
Maintenance charges received in advance 203
Deferred commercial rent 605
Mortgage payable 34,442
Less: Mortgage costs - net (291)
Security deposits payable 998
Total Liabilities 39,041
Shareholders' Equity
Capital stock 947
Additional paid-in capital 59,692
Retained earnings (deficit) (59,443)
Total Shareholders' Equity 1,196
Total Liabilities and Shareholders' Equity 40,236

Statements of Operations

Statements of Operations
Income
Maintenance charges 20,126
Less: Abatements (1,891)
Operating assessments 2,197
Commercial rent 1,792
Transfer fees 326
Laundry income 86
Other income 603
Total Income 23,239
Expenses
Real estate taxes 12,830
Less: Abatements (1,891)
Mortgage interest 1,341
Payroll and related expenses 6,610
Electric and gas 305
Heating 579
Water and sewer 459
Repairs and maintenance 1,127
Insurance 440
Management fees 526
Professional fees 598
Corporation taxes 134
Office and administration 162
Total Expenses 23,219
Income from Operations 20
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 82
Depreciation (2,364)
Interest - amortization of mortgage costs (40)
Net Income (Loss) (2,303)