149-05 79 AVENUE

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interest at 8.5% per annum and provides for monthly interest only payments of $2,140.61, commencing on January 1, 2012 through December 3 1,2015. A balloon payment will be due on January 1,2016. Finance fees in connection with the second mortgage were being amortized over a 10-year period using the straight line method.

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interest at 8.5% per annum and provides for monthly interest only payments of $2,140.61, commencing on January 1, 2012 through December 31,2015. A balloon payment will be due on January 1,2016. Finance fees in connection with the second mortgage were being amortized over a 10-year period using the straight line method.

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for interest st 8.5% per annum and provided for monthly interest only payments of $2,140.61 through December 31, 2015. The loan was paid off with a balloon payment of $1 04,867.24 on January 5,2016. The aggregate annual maturities of long-term debt obligations are as follows: 2018 2019 2020 202 1 Total

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equal monthly payments of principal and interest of $14,322 through August I, 2028. The mortgage bears interest at the rate of 4% per annum, with a balloon payment of remaining principal amount due at the maturity date on August I, 2028. The mortgage is secured by the underlying real estate and improvements. The aggregate annual maturities of long-term debt obligations are as follows: 2019 2020 202 1 2022 2023 Thereafter Total

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equal monthly payments of principal and interest of $14,322 through August 1, 2028. The mortgage bears interest at the rate of 4% per annum, with a balloon payment of remaining principal amount due at the maturity date on August 1, 2028. The mortgage is secured by the underlying real estate and improvements. The aggregate annual maturities of long-term debt obligations are as follows: 2020 $ 55,720 2021 57,990 2022 60,353 2023 62,812 2024 65,371 Thereafter 2,626,839 Total $ 2,929,085 On July 30,2018, an unsecured Line of Credit ("LOP) in the amount of up to $500,000 to be co- terminus with the Mortgage. The interest rate on the LOC will be adjusted daily to the LOC Loan Index plus 1%. The LOC Loan Index is the highest prime rate published in the NY Times each day, but not less than 5.5% nor more than 16%. At December 31,2019 the LOC has not been used. -7-

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ates of America. Our opinion is not modified with respect to that matter. Other Matters Management has omitted the supple~nentary information about future major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Financial Accounting Standards Board, which considers it to be an essential part of financial reporting for placing the basic statements in an appropriate operational, economic, or historical context. Standards promulgated by the American Institute of Certified Public Accountants require such information to also be presented to supplement financial statements. Our opinion on the basic financial statements is not affected by the missing information. Woodbury, New York October 7,2020

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er for the year 201712018 and 201812019. In addition, the same assessment was imposed on the 69 apartments owned by 149-05 79"' Units, LLC. NOTE 5 -FUTURE MAJOR REPAIRS AND REPLACEMENTS The Corporation has iiot conducted a study to determine the remaining useful lives of the components of common property and current estimates of the costs of major repairs and replacements that may be required in the future. Whei~ funds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow, expend monies from the reserve fund, increase maintenance charges, pass special assessments, or delay repairs and replacements until funds are available or any combination of the above. The effect on future maintenance charges to the tenant- shareholders has not been determined at this time. NOTE 6 -MANAGEMENT AGREEMENT On November 15,201 8 the Corporation hired BRG Management LLC as its managing agent for period of a year cominencilig January 1, 201

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for the year 201 512016 and 201 612017. In addition, the same assessment was imposed on the 69 apartments owned by 149-05 79Ih Units, LLC. NOTE 5 -FUTURE MAJOR REPAIRS AND REPLACEMENTS The Corporation has not conducted a study to determine the remaining useful lives of the components of common property and current estimates of the costs of major repairs and replacements that may be required in the future. When funds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow, expend monies from the reserve fund, increase maintenance charges, pass special assessments, or delay repairs and replacements until funds are available or any combination of the above. The effect on future maintenance charges to the tenant- shareholders has not been determined at this time. NOTE 6 "MANAGEMENT AGREEMENT The corporation is party to management agreement with First Management Corp. The agreement with First Management Corp. provides for re

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r for the year 201512016 and 2016l2017. In addition, the same assessment was imposed on the 69 apartments owned by 149-05 79"' Units, LLC. NOTE 5 - FUTURE MAJOR REPAIRS AM) REPLACEMENTS The Corporation has not conducted a study to determine tlie remaining useful lives of the components of common property and current estimates of tlie costs of major repairs and replacements that may be required in the future. When funds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow, expend monies from the reserve hnd, increase maintenance charges, pass special assessments, or delay repairs and replacements until funds are available or any combination of the above. The effect on future maintenance charges to the tenant- shareholders bas not been determined at this time. NOTE 6 - MANAGEMENT AGREEMENT The corporation is party lo management agreement with First Management Corp. The agreement with First Management Corp. provides for

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ion for both mortgages is as follows: 2013 $ 93,639 2014 102,525 2015 112,254 2016 122,906 2017 155,880 Thereafter 805,874 $1.3P2418 NOTE 4 - FUTURE MAJOR REPAIRS AND REPLACEMENTS The Corporation has not conducted a study to determine the remaining useful lives of the components of common property and current estimates of the costs of major repairs and replacements that may be required in the future. When funds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow, expend monies from the resenre fund, increase maintenance charges, pass special assessments, or delay repairs and replacements until funds are available or any combination of the above. The effect on future maintenance charges to the tenant-shareholders has not been determined at this time. NOTE 5 - MANAGEMENT AGREEMENT On December 1, 2004, the corporation hired First Managenlent Corp. as the managing agent. The agreement with First Management Corp. p

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n for both mortgages is as follows: 2014 $ 102,525 2015 112,254 2016 122,906 2017 155,880 2018 170,766 Thereafter 621.524 $L285_?355 NOTE 4 - FUTURE MAJOR REPAIRS AND REPLACEMENTS The Corporation has not conducted a study to determine the remaining useful lives of the components of common property and current estimates of the costs of major repairs and replacements that may be required in the future. When funds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow, expend monies from the resenre fund, increase maintenance charges, pass special assessments, or delay repairs and replacements until funds are available or any combination of the above. The effect on future maintenance charges to the tenant-shareholders has not been determined at this time. NOTE 5 - MANAGEMENT AGREEMENT On December 1, 2004, the corporation hired First Management Corp. as the managing agent. The agreement with First Management Corp, pr

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R 31,2014 r\N1) 2013 (INCOME TAX BASIS) NOTE 3 - MORTGAGES PAYABLE (continued) Mortgage a~nortization for both inortgages is as ibllows: NOTE 4 - FUTURE MAJOR REPAIRS AND REPLACEMENTS The Corporatio~~ has not conducted a study to deter~ni~~e the rernai~iing ~lseful lives of tlie colnponents of comlnon property and current estimates of the costs of major repairs and replacements tliat [nay be required in tlie future. When filnds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow. expend moc~ies from the reserve rund, increase inaintenance charges, pass special assessmellts, or delay repairs and replace~nents until f1111ds are av;rilable or any co~nbination of the above. The effect on future ri~aintcnance cliargcs to the tena~it-sliareliolders lins trot been determined at this time. NOTE 5 - MANAGEMENT AGREEMENT On Dece~nber 1, 2004, the corporation hired First Manage~nent Corp. as the ~nanaging agent. Tl~e agreeti

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zittion for both mortgages is as follows: 2016 $ 226,954 2017 155,880 2018 170,766 2019 187.072 2020 176,628 Thereafter 122.897 awm- NOTE 4 - FUTURE MAJOR REPAIRS AND REI'LACEMEKTS The Corporatio~i has no1 corltlt~ctetl a stt~tly to tletermi~ie the reniaitiil~g ttseft11 lives of the conipo~ieiits of common propetty alitl current esti~i~atcs of the costs of iiiajor relxtirs and replacc~nents tlial ~ii;?). be required it1 tlie fithire. \Ylic~i funds are required to ~iicct future needs for mqior repairs and rcplace~netits, the Corporatiot~ has the riglit to borrow, expend ~no~iies from the reserve fti~id, increase iiiai~ite~ia~ice Jiarges, pass special assesstiie~its, or tlelay repairs mid replncetnet~ts until fb~~ltls are availnble or aoy co~ilbi~ialioa of (he abo\~e. Tlie effect on future inaintenance cliarges to the leoanl-sl1areho1del.s has not bee11 tletcr~iiil~etl at this tiriic. NOTE 5 - MANAGEMENT AGREEMICNT On Deceinber 1, 2004, the corporntioli liiretl First iv

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6 \\,as paitl 011 Ja~i\~riry 5,2016), the outstatlding balance ofthe real estate taxes, and add $67,000 to the Bniltli~tg Reserve FIIII~. NOTE 5 - FUTURE MAJOR REPAIRS AND REPLACEMENTS 'I'lle Corporati011 has not co~~ductetl a stud)! to tleter~ni~le the remail~illg usefi~l lives of ~lte coml)oitc~tts of cotnmon property and current estiltlates of the costs of major repairs and repl;rcemcnls that may be required in the future. \\'hen fillltls are required to Ineel f~lture needs for major repairs illid replace~~te~ls, llie Corl~ovatio~~ lias 111~ rigltt to bol-rot\', espelttl molties from the rcscrve ~IIII~, illcrease III~~II~CII~IIC~ charges, pass spccial assess~t~ents, or tlelity repairs and replacente~lts ~111til SIIII~S are nvi~ilable or a11p co~nbiontion of tlle above. Tlte efl'cct on future ~naintetlance cltarges to llie tenant-shareholclers ltas iiot beel, tlctern~i~ted at this time. The corporatio~i is parly lo titan;~gc~~~e~it agreclltellt \\,ill1 Fils1 h'lanage~i~en

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149-05 Owners Corp. uses for income tax purposes, as described in Note 2. Other Matters Management has omitted the supplementary information about future major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented 10 supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Financial Accounting Standards Board, which considers it to be an essential part of financial reporting for placing the basic statements in an appropriate operational, economic, or historical context. Standards promulgated by the American Institute of Certified Public Accountants require such information to also be presented to supplement financial statements. Our opinion on the basic financial statements is not affected by the missing information. Basis of account in^ We draw attention to Note 2 of the financial statements, which describes the basi

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149-05 OWNERS CORP. (A COOPERATIVE HOUSING CORPORATION) NOTES TO FINANCIAL STATEMENTS (INCOME TAX BASIS) DECEMBER 31,2019 AND 2018 NOTE 4 -SPECIAL ASSESSMENT - CO-OP ABATEMENT On March 18 and November 11, 2019 , the Board of Directors voted for a special assessment of $4.52 and $4.42 per share. This special assessment was used to offset the tax benefit credit due to each eligible shareholder for the year 201712018 and 201812019. In addition, the same assessment was imposed on the 69 apartments owned by 149-05 79"' Units, LLC. NOTE 5 -FUTURE MAJOR REPAIRS AND REPLACEMENTS The Corporation has iiot conducted a study to determine the remaining useful lives of the components of common property and current estimates of the costs of major repairs and replacements that may be required in the future. Whei~ funds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow, expend monies from the reserve fund, increase maintenance c

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149-05 OWNERS CORP. NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31,2018 AND 2017 (TAX BASIS) NOTE 4 -SPECIAL ASSESSMENT - CO-OP ABATEMENT On August 29, 2017, the Board of Directors voted for a special assessment of $4.29 and $4.52 per share, effective October 1,201 7. This special assessment was used to offset the tax benefit credit due to each eligible shareholder for the year 201 512016 and 201 612017. In addition, the same assessment was imposed on the 69 apartments owned by 149-05 79Ih Units, LLC. NOTE 5 -FUTURE MAJOR REPAIRS AND REPLACEMENTS The Corporation has not conducted a study to determine the remaining useful lives of the components of common property and current estimates of the costs of major repairs and replacements that may be required in the future. When funds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow, expend monies from the reserve fund, increase maintenance charges, pass

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149-05 OWNERS CORP. NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31,2017 AND 2016 (TAX BASIS) NOTE 4 - SPECIAL ASSESSMENT - CO-OP ABATEMENT On August 29,, 2017, the Board of Directors voted for a special assessment of $4.29 and $4.52 per share, effective October 1, 2017. This special assessment was used to offset the tax benefit credit due to each eligible shareholder for the year 201512016 and 2016l2017. In addition, the same assessment was imposed on the 69 apartments owned by 149-05 79"' Units, LLC. NOTE 5 - FUTURE MAJOR REPAIRS AM) REPLACEMENTS The Corporation has not conducted a study to determine tlie remaining useful lives of the components of common property and current estimates of tlie costs of major repairs and replacements that may be required in the future. When funds are required to meet future needs for major repairs and replacements, the Corporation has the right to borrow, expend monies from the reserve hnd, increase maintenance charges, pas

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e for the release of Apartments as they are sold upon payment of a specified release price. VIII. The Corporation advised that it levied a one-time special assessment of $4.444 per share in August 2020 to offset the cooperative real estate tax abatement for the 2019120 fiscal year. This assessment, however, was offset for those resident shareholders who were eligible for cooperative real estate tax abatement credits from the City of New York. Holder's portion of this assessment was approximately $46,053, and was paid in August, 2020. IX. According to the 2019 Financial Statements, on July 30, 2018 the Corporation obtained a mortgage in the amount of $3,000,000 from National Cooperative Bank ("NCB). According to the said financials, the mortgage requires equal monthly payments of $14,322, applied first to interest at 4% per annum. The loan matures on August 1,2028. Additionally, according 2019 Financial Statements, on July 30, 2018 the Corporation obtained an unsecured Line

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MENTS OF RJ!NCNUES, EXPENSES, AND ACCUMULATED DEFICIT (INCOME TAX BASIS) FOR THE YEARS ENDED DECEMBER 31,2012 AND 2011 REVENUES Maintenance fees Special assessment Special assessment - co-op abatement Parking Concession Miscellaneous income Total revenues EXPENSES Mortgage interest Real estate taxes Payroll Payroll taxes Union costs Insurance Fuel Utilities Water charges Repairs, supplies and maintenance Management fee Professional fees General Corporation taxes Telephone Total expenses before depreciation Excess of revenues over expenses before depreciation and amortization Depreciation and amortization expense Excess of revenues over expenses Deficit - beginning of year Deficit - end of year See notes to financial statements. -3-

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or major repairs and replacements, the Corporation has the right to borrow, expend monies from the resenre fund, increase maintenance charges, pass special assessments, or delay repairs and replacements until funds are available or any combination of the above. The effect on future maintenance charges to the tenant-shareholders has not been determined at this time. NOTE 5 - MANAGEMENT AGREEMENT On December 1, 2004, the corporation hired First Managenlent Corp. as the managing agent. The agreement with First Management Corp. provides for rendering services including hiring and discharging employees and billing and collection of maintenance charges. Management fees totalled $34,200 in 2012 and 201 1. NOTE 6 - UNION AGREEMENT The Corporation has a pension plan covering all employees under a union-sponsored plan, governed by a collective bargaining agreement. Pension expense for 2012 and 2011 was $1 1,856 and $15,013, respectively. NOTE 7 - CORPORATION TAXES Franchise and Ge

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ax benefits with respect to such cany forwards have been provided for after applying a valuation allowance equal to such future benefits. NOTE 8 - SPECIAL ASSESSMENT - CO-OP ABATEMENT During August 2012, the Corporation imposed a Special Assessment amounting to $3.00 per share, or a total of $67,803. For all shareholders on record as of January 1, 2012 who expected to receive a co-op abatement, the Corporation offset the anticipated refund against the assessment. In addition, the same assessment was imposed on the 69 apartments owned by 149-05 79" Units, LLC. NOTE 9 - SPECIAL ASSESSMENT -FUEL AND ACCOUNTS PAYABLE During October 2011, the Corporation imposed a special assessment for fuel and accounts payable amounting to $15.00 per share, or a total of $339,015. The same assessment was imposed on the 69 apartments owned by 149-05 79th Units, LLC. No special assessment was imposed in 2012. NOTE 10 - SUBSEQUENT EVENTS Management has evaluated subsequent events through March

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TEMENTS OF =VENUES, EXPENSES, AND ACCUMULATED DEFICIT (INCOME TAX BASIS) FOR THE YEARS ENDED DECEMBER 31,2013 AND 2012 REVENUES Maintenance fees Special assessment - co-op abatement Parking Concession Miscellaneous income Total revenues EXPENSES Mortgage interest Real estate taxes Payroll Payroll taxes Union costs Insurance Fuel Utilities Water charges Repairs, supplies and maintenance Management fee Professional fees General Corporation taxes Telephone Total expenses before depreciation Excess of expenses over revenues before depreciation and amortization Depreciation and amortization expense Excess of expenses over revenues Deficit - beginning of year Deficit - end of year See notes to financial statements. -3 -

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or major repairs and replacements, the Corporation has the right to borrow, expend monies from the resenre fund, increase maintenance charges, pass special assessments, or delay repairs and replacements until funds are available or any combination of the above. The effect on future maintenance charges to the tenant-shareholders has not been determined at this time. NOTE 5 - MANAGEMENT AGREEMENT On December 1, 2004, the corporation hired First Management Corp. as the managing agent. The agreement with First Management Corp, provides for rendering services including hiring and discharging employees and billing and collection of maintenance charges. Management fees totalled $34,200 in 2013 and 2012. NOTE 6 - UNION AGREEMENT The Corporation has a pension plan covering all employees under a union-sponsored plan, governed by a collective bargaining agreement. Pension expense for 2013 and 2012 was $12,704 and $11,856, respectively. NOTE 7 - CORPORATION TAXES Franchise and Gener

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ax benefits with respect to such cany forwards have been provided for after applying a valuation allowance equal to such future benefits. NOTE 8 - SPECIAL ASSESSMENT - CO-OP ABATEMENT During August 2013, the Corporation imposed a Special Assessment amounting to $3.50 per share, or a total of $79,104. For all shareholders on record as of January 1, 2012 who expected to receive a co-op abatement, the Corporation offset the anticipated refund against the assessment. In addition, the same assessment was imposed on the 69 apartments owned by 149-05 79Ih Units, LLC. NOTE 9 - SUBSEQUENT EVENTS Management has evaluated subsequent events through February 26, 2014, the date these financial statements were available to be issued, and determined that there are no items to disclose.

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SES, ANI) ACCUMUI,,tTEI> I)EFICIT (INCOME TAX ISASIS) FOR THE YEARS ENDED 1)ECEMDER 31,2014 AND 2013 ICEVENUES Maintenance Sees IZental iticome Special assessment - co-op abatement Parking Concession Miscellat~eous iticotiie Total revenues EXPENSES Mortgage ititcrest Ileal cstatc tases Payrol l Payroll taxes lJtiioti costs I~isurance Fuel Utilities Water charges Repairs, supplies and maintenance Matlagetne~~t fee ProSessiotlal l'ccs General Corporation taxes Telephone Total expenses before depreciation Excess of revenue over expenses before depreciation and amortizatiot~ Depreciation atid atnortization expense I:scess nt'expet1ses over reve~~~us [)elicit - begin~~irlg of' year Deficit - elid of ycar See tloles lo Iiti;~llcial slatetnrlits. -3-

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enefits will1 respect to sucll carry forwards have been provided for after applying a valuatiot~ allowance equal to such future benefits, NOTE 8 - SPECIAL ASSESSMENT - CO-OP ABATEMENT During September 2014, the Corporation imposed a Special Asscsslnetit amoutlti11g to $10.00 per share. or a total of $226,010. For all sllareliolders 011 record as of Jalluary 1, 2013 who expected to receive a co-op abate~ncnt, tlle Corporatio~i ofrset the anticipated refund against the assessment. In addition, the same assesslncnt was imposed on the 69 apalllnents owned by 149-05 79'" Units, LLC. NOTE 9 - LITIGATION Tile Corporatio~l is currently i~l\,ol\,etl in one case wltich is in its preli~ninary pli:~se for breach of contract involving the buildieg l~cati~rg systetn. Managcmcnt belicvcs tlicre is no inerit to the clai~il i~nd i~ite~lds to vigorously ilcfc~id a11 clai~ns. It is too early to esti~nate any potc~itial liability ;tt this ti~nc. NOTE 10 - SUBSEQUEN'I EVENTS ivlil~lage~nent

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li respect to si~cli cariy for\\,ards llavc bee11 provitled for altcr applying a valt~atio~i allowa~icc eqoal lo srtcli future be~lcfits. NOTE 8 - SPECIAL ASSESSMENT- CO-OP ABA'I'EMICNT 011 Nove~~lber 30,2015, tlre Corporation i~nposed a Special Assess~nelrt amou~ltirlg to $25.00 per share, or a total of $565,025. The specin1 assess~ilc~tt will be usetl to pay off tlre second inortgage ($104,867.26 \\'as ),nit1 OII Jan11a1.y 5, 20 16), thc oulsla~idi~ig bnla~icc of the real estate taxes, alrtl odd $67,000 to the Brtiltling Rescrvc Fr~~rtl. Also on No\'ember 30, 201 5, the Boartl of Directors has votetl for a spcci;tl assessllrcllt ol' $3.85 per share, efl'eclive Ja~ll~i~ry 1,201 6. This spcciill :issess~iic~~l \\,ill bc orfset by tlre ti~x berlcfit cretlil clue lo eitcl? cligible sllarel~ol(ler i'or tlre year 201412015. 111 iitltlitio~i, the same nssessrnclit was imposetl on the 69 apartmolls ownctl by 149-05 79"' Units, L1.C. NOTE9 - LITIGATION The Corporatio~l is cur~.c

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s of long-term debt obligiltioils are as follo\\~s: 2017 $ 155,880 2018 170,766 2019 187,072 2020 176,628 202 1 122.898 Total U.1332A NOTE 4 - SPECIAL ASSESSMENT - CO-OP ABATERIENT 011 Novcmber 30, 2015, the Board of Directors \jotcd for s special assesslilellt of $3.85 per share, effective Jalloary 1, 2016. This special assess~~~e~tt was used to oHset thc tax benefit credit clue lo each eligible sl~arcl~oltler for tltc year 201412015. 111 addilio~t, the sa111e assessnie~it \\,as i~nposetl OII the 69 apa~t~iicnts o\\,lietl by 149-05 79"' Units, LLC. On November 30, 2015, tlie Corporatiol~ i~nposetl a Sl~ecial Assess~ite~lt a~nounti~ig lo $25.00 per sllare, or a total of $565,025. The special assessnleltt \\,as usetl lo pay off the seco~~tl morlgage ($104,867.26 \\,as paitl 011 Ja~i\~riry 5,2016), the outstatlding balance ofthe real estate taxes, and add $67,000 to the Bniltli~tg Reserve FIIII~. NOTE 5 - FUTURE MAJOR REPAIRS AND REPLACEMENTS 'I'lle Corporati011 has not

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CUMULATED DEFICIT (TAX BASIS) For the Years Ended December 3 1, 2017 2016 Maintenance fees $ 1,371,127 $ 1,371,127 Rental income 32,397 12,794 Special assessment - co-op abatement 194,649 87,036 park in^ 50.400 5 1 .600 - Miscellaneous income Total revenues Expenses Mortgage interest Real estate taxes Payroll Payroll taxes Union costs Insurance Fuel Utilities Water Charges Repairs, supplies and maintenance Management fee Professional fees General Corporation taxes Telephone Total expenses before depreciation Excess of revenues over expenses before depreciation and amortization Depreciation and amortization expense (122,698) (121,053) Excess of revenues over expenses 11 1,662 39,016 Accumulated Deficit - beginning of year (2,679,655) (2,718,671) Accumulated Deficit - end of year % (2,567,993) % (2,679,655) See independent auditor's report and notes to financial statements. -4-

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ATEMENTS OF REVENUES AND EXPENSES AND CHANGES IN ACCUMULATED DEFICIT (TAX BASIS) For the Years Ended Revenues Maintenance charges Rental income Special assessment - co-op abatement Parking Miscellaneous income Total revenues Expenses Mortgage interest Real estate taxes Payroll Payroll taxes Union costs Insurance Fuel Utilities Water Charges Repairs, supplies and maintenance Management fee Professional fees General Corporation taxes December 3 1, 2018 2017 Telephone 477 2,097 Total expenses before depreciation 1,487,695 1,424,699 Excess of expenses over revenues before depreciation and amortization Depreciation and amoiTization expense (153,967) (122,698) Excess of (expenses over revenues) revenues over expenses from operations Prepayment penalty for refinancing old lnortgage 68,984 Excess of (expenses over revenues) revenues over expenses (248,805) 1 11,662 Accumulated Deficit - beginning of year (2,567,993) (2,679,655) Accumulated Deficit - end of

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UWENUES AND EXPENSES AND CHANGES IN ACCUMULATED DEFICIT For the Years Ended December 3 1, 2019 2018 Revenues Maintenance charges Rental income Special assessment - co-op abatement Parking Interest and dividends Miscellaneous income Total revenues Expenses Mortgage interest Real estate taxes Payroll Payroll taxes Union costs Insurance Fuel Utilities Water Charges Repairs, supplies and maintenance Mai~agement fee Professional fees General and administrative Corporation taxes Telephone Total expenses before depreciation Net income (loss) before depreciation and amortization 205,673 (25,854) Depreciation and amortization expense (133,452) (1 53,967) Excess of revenues over expenses (expenses over revenues) from operatiolls 72,221 (179,821) Prepayment penalty for refinancing old mortgage 68,984 Net inco~ne (loss) 72,221 (248,805) Accumulated Deficit - beginning of year (2,816,798) (2,567,993) Accum~~lated Deficit - end of year $ (2,744,577) $ (2,816,798)

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114,260 114,260 114,260 114.260 114,260 114.260 114,260 114.260 114.260 114,260 114.260 114.260 1.371.124 Other Income 40506 ASSESSMENT- WE 40515 FLIP TAX INCOME 40518 RENTAL INCOME FROM COOP UNITS 40590 SUBLEASE CHARGE 40600 PARKING INCOME 40680 GARAGE DOOR OPENER 41000 WASHING MACHINES 41010 STORAGE BINS 42000 INTEREST INCOME 42500 OTHER INCOME Total Other Income Total Revenue 136,993 137,493 136,993 136,993 136.993 136,993 136.993 137.493 136.993 136.993 136.993 137.993 1.645.921 Operating Expenses Payroll Expenses Payroll 50100 PAYROLL 11.833 11,833 11.833 11.633 11,833 11,833 11.633 11.833 11.833 11,833 11.833 11.833 142.000 Payroll Taxes and Benefits 50076 EMPLOYERS OASDI 1,000 1,000 1.000 1,000 1.000 1,000 1.000 1,000 1,000 1.000 1,000 1,000 12.000 50700 WORKERS'COMPENSATION 542 542 542 542 542 542 542 542 542 542 542 542 6.500 51000 UNION HEALTH FUND 1.170 1.170 1.170 1.170 1,170 1.170 1,170 1.170 1,170 1.170 1.170 1,170 14,040 Total Payroll Taxes and Ben