Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#6J
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 429
Cash and cash equivalents - reserve fund 6,364
Bank certificates of deposits - reserve fund 2,383
Due from shareholders 467
Due from commercial tenants 148
Other receivables 13
Prepaid real estate taxes -0-
Prepaid expenses 224
Property and equipment - net 30,365
Investment in NCB stock 95
Security deposits held 1,219
Total Assets 41,708
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 721
Capital improvements payable -0-
Abatements payable 996
Maintenance charges received in advance 58
Deferred commercial rent 523
Mortgage payable 34,442
Less: Mortgage costs - net (251)
Security deposits payable 1,219
Total Liabilities 37,708
Shareholders' Equity
Capital stock 947
Additional paid-in capital 59,692
Retained earnings (deficit) (56,639)
Total Shareholders' Equity 4,000
Total Liabilities and Shareholders' Equity 41,708

Statements of Operations

Statements of Operations
Income
Maintenance charges 21,031
Less: Abatements (2,003)
Operating assessments 2,266
Commercial rent 1,946
Transfer fees 372
Laundry income 86
Other income 544
Total Income 24,242
Expenses
Real estate taxes 13,077
Less: Abatements (2,003)
Mortgage interest 1,341
Payroll and related expenses 6,526
Electric and gas 296
Heating 636
Water and sewer 532
Repairs and maintenance 1,090
Insurance 453
Management fees 541
Professional fees 405
Corporation taxes 128
Office and administration 224
Total Expenses 23,244
Income from Operations 998
Other Items
Capital assessment 4,245
Commercial rent - straight-line adjustment 82
Depreciation (2,480)
Interest - amortization of mortgage costs (40)
Net Income (Loss) 2,804