Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#7B
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 237
Cash and cash equivalents - reserve fund 3,516
Bank certificates of deposits - reserve fund 1,317
Due from shareholders 258
Due from commercial tenants 82
Other receivables 7
Prepaid real estate taxes -0-
Prepaid expenses 124
Property and equipment - net 16,776
Investment in NCB stock 52
Security deposits held 674
Total Assets 23,043
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 398
Capital improvements payable -0-
Abatements payable 550
Maintenance charges received in advance 32
Deferred commercial rent 289
Mortgage payable 19,029
Less: Mortgage costs - net (139)
Security deposits payable 674
Total Liabilities 20,833
Shareholders' Equity
Capital stock 523
Additional paid-in capital 32,979
Retained earnings (deficit) (31,292)
Total Shareholders' Equity 2,210
Total Liabilities and Shareholders' Equity 23,043

Statements of Operations

Statements of Operations
Income
Maintenance charges 11,619
Less: Abatements (1,107)
Operating assessments 1,252
Commercial rent 1,075
Transfer fees 206
Laundry income 48
Other income 301
Total Income 13,394
Expenses
Real estate taxes 7,225
Less: Abatements (1,107)
Mortgage interest 741
Payroll and related expenses 3,605
Electric and gas 163
Heating 351
Water and sewer 294
Repairs and maintenance 602
Insurance 250
Management fees 299
Professional fees 224
Corporation taxes 71
Office and administration 124
Total Expenses 12,842
Income from Operations 551
Other Items
Capital assessment 2,345
Commercial rent - straight-line adjustment 45
Depreciation (1,370)
Interest - amortization of mortgage costs (22)
Net Income (Loss) 1,549