| 350 Bleecker Street | |||||||
| Operating Results as of 8/31/00 | |||||||
| Unaudited: Based on Managing Agent's financial statements | |||||||
| Month of August | Eight Months (Jan-Aug) | ||||||
| Act O/(U) | Act O/(U) | ||||||
| Actual | Budget | Budget | Actual | Budget | Budget | ||
| INCOME | |||||||
| 14,333 | 7,167 | 7,167 | Commercial Rent | 57,333 | 57,333 | 0 | |
| - | 1,667 | (1,667) | Additional Commercial Rent | 18,974 | 13,333 | 5,641 | |
| 1,073 | 1,083 | (11) | Laundry Income | 1,237 | 8,667 | (7,430) | |
| 41 | 417 | (376) | Interest Income | 290 | 3,333 | (3,043) | |
| - | - | Dividend Income | 6,185 | - | 6,185 | ||
| - | 108 | (108) | National Co-op Bank Dividend | 2,287 | 867 | 1,420 | |
| - | 2,083 | (2,083) | 2% Transfer Fees | 30,420 | 16,667 | 13,753 | |
| - | 208 | (208) | Sublet Fees | 1,265 | 1,667 | (402) | |
| - | 17 | (17) | Late Fees @ $50 | 100 | 133 | (33) | |
| - | - | - | Bike Room Fees | 455 | 1,400 | (945) | |
| - | - | Storage Locker Fees | 10,000 | - | 10,000 | ||
| - | 9,128 | (9,128) | Assessment (53 cents x 17,222) | - | 73,021 | (73,021) | |
| 92,242 | 80,082 | 12,159 | Maintenance Fees ($4.65) | 594,496 | 640,658 | (46,162) | |
| 107,688 | 101,960 | 5,728 | Total Income | 723,043 | 817,079 | (94,037) | |
| EXPENSES | |||||||
| 250 | - | 250 | Real Estate Tax | 70,476 | 147,500 | (77,024) | |
| (188) | 167 | (354) | NYS Franchise Tax | 48 | 1,333 | (1,285) | |
| - | 167 | (167) | NY Corporate Tax | 274 | 1,333 | (1,059) | |
| - | - | - | Loan Interest (6% to AM+G) | - | 2,000 | (2,000) | |
| 44,277 | 24,403 | 19,874 | Mortgage Interest + Principal | 177,605 | 195,223 | (17,618) | |
| 44,339 | 24,736 | 19,603 | Total Taxes + Interest | 248,403 | 347,389 | (98,986) | |
| 994 | 292 | 703 | Gas for Cooking | 7,888 | 2,333 | 5,555 | |
| 2,147 | 1,500 | 647 | Electricity | 17,374 | 12,000 | 5,374 | |
| - | 667 | (667) | Gas for Hot Water (Summer) | 1,482 | 2,667 | (1,184) | |
| - | - | - | Gas for Steam Heat | 5,329 | 14,000 | (8,671) | |
| 60 | 50 | 10 | Cable TV | 414 | 400 | 14 | |
| 15,088 | 1,667 | 13,422 | Water + Sewer | 26,465 | 13,333 | 13,132 | |
| 18,290 | 4,175 | 14,115 | Total Utilities | 58,953 | 44,733 | 14,220 | |
| 1,800 | 2,917 | (1,117) | Insurance | 26,929 | 23,333 | 3,596 | |
| 4,083 | 4,125 | (42) | Management Fees (Ken Newman) | 32,667 | 33,000 | (333) | |
| - | 2,083 | (2,083) | Legal (excluding certiorari) | 15,986 | 16,667 | (681) | |
| - | - | - | Legal (Garage Lease) | 17,540 | - | 17,540 | |
| 583 | 667 | (83) | Accounting | 8,737 | 5,333 | 3,403 | |
| 142 | 83 | 59 | Phone | 633 | 667 | (33) | |
| 380 | 200 | 180 | Postage & Stationery | 1,116 | 1,600 | (484) | |
| 119 | 100 | 19 | Printing | 2,639 | 800 | 1,839 | |
| 30 | 83 | (53) | Licenses, permits, violations | 1,413 | 667 | 746 | |
| - | 667 | (667) | Office expenses | 909 | 5,333 | (4,425) | |
| 53 | 54 | (1) | Bank Charges | 361 | 433 | (72) | |
| - | 83 | (83) | Dues & Subscriptions | 548 | 667 | (119) | |
| - | 25 | (25) | Internet Site | 150 | 200 | (50) | |
| 770 | - | 770 | Miscellaneous | 1,046 | - | 1,046 | |
| - | 83 | (83) | Security System | - | 667 | (667) | |
| 7,962 | 11,171 | (3,209) | Total Administrative | 110,672 | 89,367 | 21,305 | |
| 11,564 | 13,750 | (2,186) | Payroll | 96,565 | 110,000 | (13,435) | |
| 3,096 | 1,083 | 2,013 | FICA Taxes | 4,055 | 8,667 | (4,612) | |
| 1,568 | 1,417 | 151 | Medical | 17,849 | 11,333 | 6,516 | |
| 16,228 | 16,250 | (22) | Total Labor | 118,469 | 130,000 | (11,531) | |
| - | 1,000 | (1,000) | Boiler, Plumbing, A/C | 13,583 | 8,000 | 5,583 | |
| - | 208 | (208) | Architect and Engineer | 1,115 | 1,667 | (551) | |
| - | 833 | (833) | Janitorial Supplies | 1,069 | 6,667 | (5,598) | |
| 281 | - | 281 | Building Supplies | 4,847 | - | 4,847 | |
| 677 | 883 | (207) | Elevator | 7,575 | 7,067 | 508 | |
| - | 208 | (208) | Electrician | - | 1,667 | (1,667) | |
| - | 667 | (667) | Windows | 2,274 | 5,333 | (3,059) | |
| - | 100 | (100) | Intercom + Doors | - | 800 | (800) | |
| 1,038 | - | 1,038 | Landscaping | 4,576 | 1,200 | 3,376 | |
| 379 | 383 | (4) | Exterminator | 2,652 | 3,067 | (415) | |
| - | 83 | (83) | Exercise Room | - | 667 | (667) | |
| 600 | - | 600 | Repairs/Maintenance/Other | 3,305 | - | 3,305 | |
| - | 83 | (83) | Painting, Carpet | 223 | 667 | (444) | |
| 2,974 | 4,450 | (1,476) | Total Maintenance / Repairs | 41,221 | 36,800 | 4,421 | |
| - | 1,250 | (1,250) | Contingency Fund | - | 10,000 | (10,000) | |
| Construction / Capital | |||||||
| - | - | - | AM+G (Formerly M+G) | - | 210,000 | (210,000) | |
| - | 1,667 | (1,667) | AM+G Contingency | - | 13,333 | (13,333) | |
| - | - | - | Planter Landscaping | - | 20,000 | (20,000) | |
| - | - | - | Painting Zolotone | - | 20,000 | (20,000) | |
| - | 500 | (500) | Engineering | - | 4,000 | (4,000) | |
| - | - | - | Exercise Equipment | - | 3,000 | (3,000) | |
| - | 2,167 | (2,167) | Total Construction/Capital | - | 270,333 | (270,333) | |
| 89,793 | 64,199 | 25,594 | Total Expense: | 577,718 | 928,623 | (350,905) | |
| ( Including Contingency) | |||||||
| $ 17,895 | $ 37,761 | $ (19,866) | Income Less Expense | $ 145,325 | $ (111,543) | $ 256,868 | |
| Cash Reserve | $ 308,657 | ||||||
Copyright © 2010
350 Bleecker Street Apartment Corp.
All rights reserved.