Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#7H
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 436
Cash and cash equivalents - reserve fund 3,157
Bank certificates of deposits - reserve fund 167
Due from shareholders 139
Due from commercial tenants 107
Other receivables 40
Prepaid real estate taxes 1,888
Prepaid expenses 181
Property and equipment - net 21,135
Investment in NCB stock 66
Security deposits held 694
Total Assets 28,010
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 398
Capital improvements payable 1,080
Abatements payable 668
Maintenance charges received in advance 141
Deferred commercial rent 421
Mortgage payable 23,976
Less: Mortgage costs - net (203)
Security deposits payable 694
Total Liabilities 27,178
Shareholders' Equity
Capital stock 659
Additional paid-in capital 41,553
Retained earnings (deficit) (41,380)
Total Shareholders' Equity 832
Total Liabilities and Shareholders' Equity 28,010

Statements of Operations

Statements of Operations
Income
Maintenance charges 14,011
Less: Abatements (1,317)
Operating assessments 1,529
Commercial rent 1,247
Transfer fees 227
Laundry income 60
Other income 420
Total Income 16,177
Expenses
Real estate taxes 8,932
Less: Abatements (1,317)
Mortgage interest 933
Payroll and related expenses 4,602
Electric and gas 212
Heating 403
Water and sewer 319
Repairs and maintenance 784
Insurance 306
Management fees 366
Professional fees 416
Corporation taxes 94
Office and administration 113
Total Expenses 16,164
Income from Operations 14
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 57
Depreciation (1,646)
Interest - amortization of mortgage costs (28)
Net Income (Loss) (1,603)