Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#9A
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 411
Cash and cash equivalents - reserve fund 6,097
Bank certificates of deposits - reserve fund 2,283
Due from shareholders 448
Due from commercial tenants 142
Other receivables 13
Prepaid real estate taxes -0-
Prepaid expenses 214
Property and equipment - net 29,090
Investment in NCB stock 91
Security deposits held 1,168
Total Assets 39,957
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 691
Capital improvements payable -0-
Abatements payable 954
Maintenance charges received in advance 55
Deferred commercial rent 501
Mortgage payable 32,996
Less: Mortgage costs - net (240)
Security deposits payable 1,168
Total Liabilities 36,125
Shareholders' Equity
Capital stock 907
Additional paid-in capital 57,185
Retained earnings (deficit) (54,261)
Total Shareholders' Equity 3,832
Total Liabilities and Shareholders' Equity 39,957

Statements of Operations

Statements of Operations
Income
Maintenance charges 20,148
Less: Abatements (1,919)
Operating assessments 2,171
Commercial rent 1,864
Transfer fees 357
Laundry income 82
Other income 521
Total Income 23,224
Expenses
Real estate taxes 12,528
Less: Abatements (1,919)
Mortgage interest 1,285
Payroll and related expenses 6,252
Electric and gas 283
Heating 609
Water and sewer 510
Repairs and maintenance 1,044
Insurance 434
Management fees 519
Professional fees 388
Corporation taxes 122
Office and administration 214
Total Expenses 22,268
Income from Operations 956
Other Items
Capital assessment 4,067
Commercial rent - straight-line adjustment 79
Depreciation (2,376)
Interest - amortization of mortgage costs (39)
Net Income (Loss) 2,687