Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#8A
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 398
Cash and cash equivalents - reserve fund 5,907
Bank certificates of deposits - reserve fund 2,212
Due from shareholders 434
Due from commercial tenants 137
Other receivables 12
Prepaid real estate taxes -0-
Prepaid expenses 208
Property and equipment - net 28,184
Investment in NCB stock 88
Security deposits held 1,132
Total Assets 38,712
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 669
Capital improvements payable -0-
Abatements payable 924
Maintenance charges received in advance 54
Deferred commercial rent 486
Mortgage payable 31,968
Less: Mortgage costs - net (233)
Security deposits payable 1,132
Total Liabilities 35,000
Shareholders' Equity
Capital stock 879
Additional paid-in capital 55,404
Retained earnings (deficit) (52,571)
Total Shareholders' Equity 3,713
Total Liabilities and Shareholders' Equity 38,712

Statements of Operations

Statements of Operations
Income
Maintenance charges 19,521
Less: Abatements (1,860)
Operating assessments 2,104
Commercial rent 1,806
Transfer fees 346
Laundry income 80
Other income 505
Total Income 22,501
Expenses
Real estate taxes 12,138
Less: Abatements (1,860)
Mortgage interest 1,245
Payroll and related expenses 6,057
Electric and gas 275
Heating 590
Water and sewer 494
Repairs and maintenance 1,011
Insurance 420
Management fees 503
Professional fees 376
Corporation taxes 119
Office and administration 208
Total Expenses 21,575
Income from Operations 926
Other Items
Capital assessment 3,940
Commercial rent - straight-line adjustment 76
Depreciation (2,302)
Interest - amortization of mortgage costs (37)
Net Income (Loss) 2,603