Apartment Report

Year Ended 2017-12-31

310 Lexington Ave
#8D
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 665
Cash and cash equivalents - reserve fund 4,816
Bank certificates of deposits - reserve fund 254
Due from shareholders 212
Due from commercial tenants 163
Other receivables 61
Prepaid real estate taxes 2,879
Prepaid expenses 277
Property and equipment - net 32,240
Investment in NCB stock 101
Security deposits held 1,059
Total Assets 42,726
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 608
Capital improvements payable 1,647
Abatements payable 1,020
Maintenance charges received in advance 215
Deferred commercial rent 643
Mortgage payable 36,573
Less: Mortgage costs - net (309)
Security deposits payable 1,059
Total Liabilities 41,456
Shareholders' Equity
Capital stock 1,006
Additional paid-in capital 63,385
Retained earnings (deficit) (63,122)
Total Shareholders' Equity 1,270
Total Liabilities and Shareholders' Equity 42,726

Statements of Operations

Statements of Operations
Income
Maintenance charges 21,372
Less: Abatements (2,008)
Operating assessments 2,332
Commercial rent 1,903
Transfer fees 347
Laundry income 91
Other income 640
Total Income 24,677
Expenses
Real estate taxes 13,624
Less: Abatements (2,008)
Mortgage interest 1,424
Payroll and related expenses 7,019
Electric and gas 324
Heating 615
Water and sewer 487
Repairs and maintenance 1,197
Insurance 467
Management fees 558
Professional fees 635
Corporation taxes 143
Office and administration 172
Total Expenses 24,656
Income from Operations 21
Other Items
Capital assessment -0-
Commercial rent - straight-line adjustment 87
Depreciation (2,511)
Interest - amortization of mortgage costs (43)
Net Income (Loss) (2,445)