Apartment Report

Year Ended 2018-12-31

310 Lexington Ave
#PHB
New York
NY 10016

310 Lexington Owners Corp.

Financial Statements

Balance Sheets

Balance Sheets
Assets
Cash - operating 876
Cash and cash equivalents - reserve fund 13,009
Bank certificates of deposits - reserve fund 4,872
Due from shareholders 955
Due from commercial tenants 303
Other receivables 27
Prepaid real estate taxes -0-
Prepaid expenses 457
Property and equipment - net 62,073
Investment in NCB stock 194
Security deposits held 2,492
Total Assets 85,259
Liabilities and Shareholders' Equity
Liabilities
Accounts payable and accrued expenses 1,474
Capital improvements payable -0-
Abatements payable 2,036
Maintenance charges received in advance 118
Deferred commercial rent 1,070
Mortgage payable 70,406
Less: Mortgage costs - net (513)
Security deposits payable 2,492
Total Liabilities 77,083
Shareholders' Equity
Capital stock 1,936
Additional paid-in capital 122,022
Retained earnings (deficit) (115,781)
Total Shareholders' Equity 8,176
Total Liabilities and Shareholders' Equity 85,259

Statements of Operations

Statements of Operations
Income
Maintenance charges 42,992
Less: Abatements (4,095)
Operating assessments 4,633
Commercial rent 3,977
Transfer fees 761
Laundry income 176
Other income 1,112
Total Income 49,556
Expenses
Real estate taxes 26,733
Less: Abatements (4,095)
Mortgage interest 2,741
Payroll and related expenses 13,340
Electric and gas 605
Heating 1,300
Water and sewer 1,088
Repairs and maintenance 2,227
Insurance 925
Management fees 1,107
Professional fees 828
Corporation taxes 261
Office and administration 457
Total Expenses 47,516
Income from Operations 2,040
Other Items
Capital assessment 8,677
Commercial rent - straight-line adjustment 168
Depreciation (5,070)
Interest - amortization of mortgage costs (83)
Net Income (Loss) 5,732