18-12341-smb Doc 165 Filed 05/22/19 Entered 05/22/19 10:52

UNITED STATES BANKRUPTCY COURTSOUTHERN DISTRICT OF NEW YORK

In re 1141 Realty Owner, LLC, et al., Case No. 18-12341 (SMB) Debtors Reporting Period: April 1, 2019 - April 30, 2019

Federal Tax I.D. # 47-3661804

CORPORATE MONTHLY OPERATING REPORT

File with the Court and submit a copy to the United States Trustee within 20 days after the end of the month and submit a copy of the report to any official committee appointed in the case. (Reports for Rochester and Buffalo Divisions of Western District of New York are due 15 days after the end of the month, as are the reports for Southern District of New York.)

REQUIRED DOCUMENTS Form No. Document Attached

Explanation Attached

Schedule of Cash Receipts and Disbursements MOR-1Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1 (CON'T) Attached Copies of bank statements Attached Cash disbursements journalsStatement of Operations MOR-2Balance Sheet MOR-3Status of Post-petition Taxes MOR-4 Copies of IRS Form 6123 or payment receipt Copies of tax returns filed during reporting periodSummary of Unpaid Post-petition Debts MOR-4 Listing of Aged Accounts PayableAccounts Receivable Reconciliation and Aging MOR-5Taxes Reconciliation and Aging MOR-5Payments to Insiders and Professional MOR-6Post Petition Status of Secured Notes, Leases Payable MOR-6Debtor Questionnaire MOR-7

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

Signature of Debtor /s/ James Katchadurian Date:

Signature of Authorized Individual* /s/ James Katchadurian, as Chief Restructuring Officer Date:

Printed Name of Authorized Individual: James Katchadurian, as Chief Restructuring Officer Date:

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

FORM MOR2/2008

PAGE 1 OF 11

May 22, 2019

18-12341-smb Doc 165 Filed 05/22/19 Entered 05/22/19 10:52:04 Main Document Pg 1 of 26


SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

Amounts reported should be from the debtor’s books and not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the dat倬the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL” column must equal the sum of the four bank account columnsrAttach copies of the bank statements and the cash disbursements journal.The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON’Te

ACCOUNT NUMBER (LAST 4) 114 Realty Owner LLCDIP Acct# 2610

Flatironhotel Operations LLC

DIP OPERATINGAcct# 9229

Flatironhotel Operations LLCDIP PAYROLL

Acct# 9245

Flatironhotel Operations LLCDIP ESCROW

Acct# 9253

CURRENT MONTH ACTUAL

CASH BEGINNING OF MONTH [Note 1] $ 22,846.56 $ 615,243.24 $ 55,058.50 $ 21,366.79 $ 714,515.09 RECEIPTSCASH SALES $ - $ - $ - $ - $ - ACCOUNTS RECEIVABLE - PREPETITION $ - $ - $ - $ - $ - ACCOUNTS RECEIVABLE - POSTPETITION $ 5,711.64 $ 318,603.64 $ - $ - $ 324,315.28 LOANS AND ADVANCES $ - $ - $ - $ - $ - OTHER (ATTACH LIST) $ - $ - $ - $ - $ - RESTRICTED CASH TRANSFER IN (#8885) $ - $ - $ - $ - $ - RESTRICTED CASH TRANSFER IN (Wells Fargo) $ - $ - $ - $ - $ - TRANSFERS (FROM DIP ACCTS) $ - $ - $ 50,000.00 $ 40,000.00 $ 90,000.00 TOTAL RECEIPTS $ 5,711.64 $ 318,603.64 $ 50,000.00 $ 40,000.00 $ 414,315.28 DISBURSEMENTSNET PAYROLL $ - $ - $ 47,427.17 $ - $ 47,427.17 PAYROLL TAXES & WORKERS COMP $ - $ - $ 23,348.67 $ - $ 23,348.67 SALES, USE, & OTHER TAXES $ - $ - $ - $ 16,168.87 $ 16,168.87 INVENTORY PURCHASES $ - $ - $ - $ - $ - SECURED/ RENTAL/ LEASES $ - $ - $ - $ - $ - INSURANCE $ - $ - $ - $ - $ - ADMINISTRATIVE $ - $ - $ - $ - $ - SELLING $ - $ - $ - $ - $ - OTHER PAYMENTS TO VENDORS $ - $ 246,107.49 $ - $ - $ 246,107.49 OUTSIDE SERVICES (HOUSEKEEPING) $ - $ - $ - $ - $ - BANK AND CREDIT-CARD FEES $ - $ 5,055.64 $ - $ - $ 5,055.64 REVENUE MGMT EXPENSE $ - $ - $ - $ - $ - TRANSFERS (TO DIP ACCTS) $ - $ 90,000.00 $ - $ - $ 90,000.00 PROFESSIONAL FEES $ - $ 156,256.69 $ - $ - $ 156,256.69 U.S. TRUSTEE QUARTERLY FEES $ - $ - $ - $ - $ - COURT COSTS $ - $ - $ - $ - $ - TOTAL DISBURSEMENTS $ - $ 497,419.82 $ 70,775.84 $ 16,168.87 $ 584,364.53

NET CASH FLOW $ 5,711.64 $ (178,816.18) $ (20,775.84) $ 23,831.13 $ (170,049.25)(RECEIPTS LESS DISBURSEMENTS) $ - $ -

CASH - END OF MONTH [Note 1] $ 28,558.20 $ 436,427.06 $ 34,282.66 $ 45,197.92 $ 544,465.84 Note 1. Debtor maintained a petty cash balance of $1,500.

OTHER RECEIPTS Oher $ - $ - $ - $ - $ - TOTAL $ - $ - $ - $ - $ -

OTHER DISBURSEMENTS Other Payments to Vendors $ - $ - $ - $ - $ - TOTAL $ - $ - $ - $ - $ -

THE FOLLOWING SECTION MUST BE COMPLETEDDISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)

1141 Realty Owner LLC Flatironhotel Operations LLCTOTAL DISBURSEMENTS $ - $ 584,364.53 LESS: TRANSFERS TO OTHER DEBTOR IN POSSESSION ACCOUNTS $ - $ 90,000.00 PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) $ - $ - TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES $ - $ 494,364.53

FORM MOR-12/2008

PAGE 2 OF 11



BANK RECONCILIATIONSContinuation Sheet for MOR-1A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page. (Bank account numbers may be redacted to last four numbers.)

SIGNATURE BANKFLATIRONHOTEL OPERATIONS LLC

114 Realty Owner LLCDIP Acct# 2610

Flatironhotel Operations LLC

DIP OPERATINGAcct# 9229

Flatironhotel Operations LLCDIP PAYROLL

Acct# 9245

Flatironhotel Operations LLCDIP ESCROW

Acct# 9253

Total

BALANCE PER BOOKS $ 28,558.20 $ 436,427.06 $ 34,282.66 $ 45,197.92 $ 544,465.84

BANK BALANCE(+) DEPOSITS IN TRANSIT (ATTACH LIST) $ - $ - $ - $ - $ - (-) OUTSTANDING CHECKS (ATTACH LIST) : $ - $ 35,683.18 $ - $ - $ 35,683.18 OTHER (ATTACH EXPLANATION) $ - $ - $ - $ - $ -

ADJUSTED BANK BALANCE * $ 28,558.20 $ 472,110.24 $ 34,282.66 $ 45,197.92 $ 580,149.02 *"Adjusted Bank Balance" must equal "Balance per Books"

DEPOSITS IN TRANSIT Date Amount

DIP OPERATING CHECKS OUTSTANDING Ck. # AmountP&W Elevators 2256 $ 1,287.50 CSC 2352 $ 1,123.50 Doyle Security Services 2353 $ 2,645.22 Guest Supply 2354 $ 1,019.07 Janovic Paint & decorating 2355 $ 143.60 Sabre Hospitality Solutions 2356 $ 5,733.96 Siemens Building Technologies, Inc 2358 $ 2,286.32 Simon's Industrial Supply Co. 2359 $ 715.28 Spectrum Enterprise 2360 $ 2,140.68 The Metro Group, Inc. 2361 $ 3,810.63 Windstream Enterprise 2362 $ 536.43 Allstate Sprinkler Corp 2364 $ 898.22 Con Edison Co of N.Y. Inc. 2365 $ 8,990.10 Con Edison Co of N.Y. Inc. 2366 $ 55.44 Con Edison Co of N.Y. Inc. 2367 $ 150.35 Con Edison Co of N.Y. Inc. 2368 $ 453.67 D&W Central Station Fire Alarm Co 2369 $ 75.62 Doyle Security Services 2370 $ 1,322.61 Guest Supply 2371 $ 1,189.79 Simon's Industrial Supply Co. 2373 $ 997.73 TourisMarketing Service Gmbh 2374 $ 107.46

DIP OPERATING TOTAL $ 35,683.18

DIP ESCROW CHECKS OUTSTANDING Ck. # Amount

DIP ESCROW TOTAL $ - OTHER

FORM MOR-1 (CONT.)2/2008

PAGE 3 OF 11



STATEMENT OF OPERATIONS (Income Statement)The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurredregardless of when cash is actually received or paid.

REVENUES 1141 REALTY OWNER LLC FLATIRONHOTEL OPERATIONS LLC

CUMULATIVE -FILING AS OF THE PETITION DATE

Rooms Revenue $ 331,224.39 $ 2,014,447.57 Miscellaneous Income $ 5,711.64 $ 37,304.62 $ 217,755.94 Total Operating Revenue $ 5,711.64 $ 368,529.01 $ 2,232,203.51 OPERATING EXPENSESSalaries & Wages $ - $ 47,427.17 $ 391,554.23 Payroll Taxes & Benefits $ - $ 23,348.67 $ 186,399.80 Cable Television Expense $ - $ 2,140.68 $ 21,244.09 Cleaning Supplies $ - $ 6,423.69 $ 23,154.58 Misc. Expense $ - $ 1,300.74 $ 6,651.72 Promotional Costs $ - $ - $ 14,729.70 Reservation Expense $ - $ - $ 5,951.91 Revenue Mgmt Expense $ - $ 13,733.96 $ 79,364.18 Room Supplies $ - $ 8,575.96 $ 46,157.36 Travel Commissions $ - $ 19,442.20 $ 74,181.07 Long Distance Costs $ - $ 645.78 $ 4,609.24 Contract Services-IT/Phone $ - $ 708.01 $ 8,210.08 Accounting Expense $ - $ 17.69 $ 505.01 Bank Charges $ - $ 125.00 $ 2,577.15 Credit Card Charge-Backs [Note 1] $ - $ - $ 117,555.33 Credit Card Commissions $ - $ 4,930.64 $ 59,301.41 Office Supplies $ - $ 533.64 $ 18,040.06 Security - Contract $ - $ 6,348.53 $ 29,593.43 Building Repairs $ - $ 19,996.95 $ 62,237.97 Contracted Services [Note 2] $ - $ - $ 104,968.25 Elevator Repairs $ - $ - $ 762.13 Kitchen Equipment $ - $ - $ 860.00 Life Safety $ - $ 713.73 $ 16,724.38 Maintenance Contracts $ - $ 3,304.84 $ 25,013.76 Trash Removal $ - $ 680.47 $ 6,124.23 Gas Service $ - $ - $ - Electric Service $ - $ 9,649.56 $ 115,057.31 Water Costs $ - $ - $ 12,797.87 Equipment Leases/Rentals $ - $ - $ - Taxes - Real Estate $ - $ - $ 292,408.04 Taxes - Other $ - $ - $ 6,960.37 Insurance - General $ - $ 13,943.48 $ 79,226.69 Other (attach schedule) $ - $ - $ - Total Operating Expenses Before Depreciation $ - $ 183,991.39 $ 1,858,449.60 Depreciation/Depletion/Amortization $ - $ 101,153.85 $ 826,414.50 Net Profit (Loss) Before Other Income & Expenses $ 5,711.64 $ 83,384 $ (452,660.59)OTHER INCOME AND EXPENSESOther Income (attach schedule) $ - $ - $ 817.60 Interest - Mortgage $ - $ 149,539.00 $ 1,151,349.65 Other Expense $ - $ - $ 44,425.35 Net Profit (Loss) Before Reorganization Items $ 5,711.64 $ (66,155.23) $ (1,647,617.99)REORGANIZATION ITEMS [Note 3]Professional Fees $ - $ 240,462.57 $ 1,152,036.93 U. S. Trustee Quarterly Fees $ - $ - $ 18,238.67 Interest Earned on Accumulated Cash from Chapter 11 $ - $ - $ - Gain (Loss) from Sale of Equipment $ - $ - $ - Other Reorganization Expenses (attach schedule) $ - $ - $ - Total Reorganization Expenses $ - $ - $ 502,125.64 Net Profit (Loss) $ 5,711.64 $ (306,617.80) $ (2,817,893.59)

FORM MOR-22/2008

PAGE 4 OF 11


Note 1. Merchant service charge backs are currently in the dispute process. Amounts are estimated and subject to change.Note 2. Housekeeping services agreement for outsourced labor.Note 3. No provision for income taxes has been reflected.

BREAKDOWN OF “OTHER” CATEGOco

OTHER COSTS

OTHER OPERATIONAL EXPENSES $ - $ - $ - $ - $ - $ -

TOTAL -$ -$ -$

OTHER INCOME $ - $ - $ - $ - $ -

TOTAL $ - $ - $ -

FORM MOR-22/2008

PAGE 5 OF 11


In re 1141 Realty Owner, LLC, et al., Case No. 18-12341 (SMB) Debtor Reporting Period: April 1, 2019 - April 30, 2019

CONSOLIDATED BALANCE SHEETThe Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from post-petition obligations.

ASSETS BOOK VALUE AT END OF CURRENT

REPORTING MONTH

BOOK VALUE AT END OF PRIOR

REPORTING MONTH

BOOK VALUE ON PETITION DATE OR

SCHEDULEDCURRENT ASSETSCash 544,465.84$ 714,515.09$ 7,060.63$ (-) OUTSTANDING CHECKS $ - $ - (7,060.63)$ Petty Cash 1,500.00$ 1,500.00$ 1,500.00$ Restricted Cash - Wells Fargo Lockbox 209,338.77$ $ 209,338.77 293,215.62$ Restricted Cash - Signature Bank Acct # 8885 $ - $ - 125,618.12$ Accounts Receivable 222,909.56$ 127,692.80$ 5,500.12$ Inventories 15,000.00$ 15,000.00$ 15,000.00$ Prepaid Expenses 125,491.36$ 139,434.84$ 51,339.72$ Other Current Assets 11,080.00$ 11,080.00$ -$ TOTAL CURRENT ASSETS 1,129,785.53$ 1,218,561.50$ 492,173.58$ PROPERTY & EQUIPMENTReal Property and Improvements [Note 2] 45,000,000.00$ 45,000,000.00$ 45,000,000.00$ Machinery and Equipment 14,101.68$ 14,101.68$ -$ Furniture, Fixtures and Office Equipment 300,000.00$ 300,000.00$ 300,000.00$ Leasehold Improvements $ - $ - -$ Less: Accumulated Depreciation (812,471.02)$ (711,317.17)$ -$ TOTAL PROPERTY & EQUIPMENT 44,501,630.66$ 44,602,784.51$ 45,300,000.00$ TOTAL ASSETS 45,631,416.20$ 45,821,346.02$ 45,792,173.58$

LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT

REPORTING MONTH


REPORTING MONTH

BOOK VALUE ON PETITION DATE

LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)Accounts Payable 6,727.10$ 9,079.16$ -$ Taxes Payable (refer to FORM MOR-4) 60,288.68$ 31,166.16$ -$ Wages Payable $ - $ - -$ Note Payable $ - $ - -$ Rent / Leases - Building/Equipment $ - $ - -$ DIP Loan (New Money) 2,500,000.00$ 2,500,000.00$ -$ Professional Fees 287,887.91$ 203,682.33$ -$ Other Post-petition Liabilities (Mortgage Interest) $ - $ - -$ TOTAL POST-PETITION LIABILITIES 2,854,903.69$ 2,743,927.65$ -$ LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)Secured Debt 24,139,494.97$ 24,139,494.97$ 24,139,494.97$ Priority Debt 1,375,166.34$ 1,375,166.34$ 1,375,166.34$ Unsecured Debt [Note 3] 2,647,147.16$ 2,647,147.16$ 2,962,301.76$ TOTAL PRE-PETITION LIABILITIES 28,161,808.47$ 28,161,808.47$ 28,476,963.07$ TOTAL LIABILITIES 31,016,712.16$ 30,905,736.12$ 28,476,963.07$ OWNERS' EQUITYMembers' Capital Account $ - $ - $ - Retained Earnings - Pre-Petition $ - $ - -$ Retained Earnings - Post-petition (2,700,506.77)$ (2,399,600.61)$ -$ Adjustments to Owner Equity (attach schedule) 17,315,210.51$ 17,315,210.51$ $ 17,315,210.51 Post-petition Contributions (attach schedule) $ - $ - $ - NET OWNERS’ EQUITYr $ 14,614,703.74 $ 14,915,609.90 $ 17,315,210.51 TOTAL LIABILITIES AND OWNERS' EQUITY $ 45,631,415.90 $ 45,821,346.02 $ 45,792,173.58

Note 1: Value as attributed in Fee Simple Estate as is value calculation. 0.00 - Note 2: This amount includes disputed, contingent and unliquidated amounts.

FORM MOR-32/2008

PAGE 6 OF 11


BALANCE SHEET - continuation sectionASSETS BOOK VALUE AT

END OF CURRENT REPORTING

MONTH


REPORTING MONTH


Other Current Assets

Other Assets

LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT

REPORTING MONTH


Other Post-petition Liabilities

Adjustments to Owner’s Equiti

Post-Petition Contributions

FORM MOR-32/2008

PAGE 7 OF 11



STATUS OF POST-PETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.Attach photocopies of any tax returns filed during the reporting period.

Federal Beginning Tax Amount Withheld and/or Amount Paid Date Paid Check # or EFT Ending Tax

WithholdingFICA-Employee [Note 1] -$ FICA-Employer [Note 1] -$ Unemployment [Note 1] -$ Other: Medicare [Note 1] -$ Total Federal Taxes -$ -$ -$ -$ State and LocalWithholding -$ Sales & Occupancy 31,166.16$ 45,291.39$ 16,168.87$ 4/15/2019 1044 60,288.68$ Unemployment [Note 1]Real Property -$ Personal Property -$ Other:_____________ -$ Total State and Local 31,166.16$ 45,291.39$ 16,168.87$ 60,288.68$

Total Taxes 31,166.16$ 45,291.39$ 16,168.87$ 60,288.68$

Note 1. The payroll is being processed through ADP and the detail reports are available upon request.

SUMMARY OF UNPAID POST-PETITION DEBTS

Attach aged listing of accounts payable.Number of Days Past Due

Current 0-30 31-60 61-90 Over 91 TotalAccounts Payable 6,727.10$ 6,727.10$ Wages Payable -$ Taxes Payable 60,288.68$ 60,288.68$ Rent/Leases-Equipment -$ DIP Loan (New Money) 2,500,000.00$ 2,500,000.00$ Professional Fees 287,887.91$ 287,887.91$ Other: Payments -$ Other:______________ -$ Total Post-petition Debts $ 2,854,903.69 $ - $ - $ - $ - 2,854,903.69$

Explain how and when the Debtor intends to pay any past due post-petition debts.

There are no past due post-petition debts. Flatironhotel expects to timely pay all post-petition invoices.

FORM MOR-42/2008

PAGE 8 OF 11



ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

Accounts Receivable Reconciliation AmountTotal Accounts Receivable at the beginning of the reporting period 127,692.80 Plus: Amounts billed during the period 413,820.40 Less: Amounts collected during the period (318,603.64)

Total Accounts Receivable at the end of the reporting period 222,909.56

Accounts Receivable Aging 0-30 Days 31-60 Days 61-90 Days 91+ Days Total0 - 30 days old31 - 60 days old61 - 90 days old91+ days oldTotal Accounts Receivable 222,909.56

Less: Bad Debts (Amount considered uncollectible) 0

Net Accounts Receivable [Note 1] 222,909.56 Note 1. Most of the AR balances are restricted cash in the Wells Fargo DACA account.

TAXES RECONCILIATION AND AGING

Taxes Payable 0-30 Days 31-60 Days 61-90 Days 91+ Days Total0 - 30 days old31 - 60 days old61 - 90 days old91+ days oldTotal Taxes PayableTotal Accounts Payable

FORM MOR-52/2008

PAGE 9 OF 11



PAYMENTS TO INSIDERS AND PROFESSIONALS

Of the total disbursements shown on the Cash Receipts and Disbursements Report (MOR-1) list the amount paid to insiders (as defined in Section 101(31) (A)-(F) of the U.S. Bankruptcy Code) and to professionals. For payments to insiders, identify the type of compensation paid (e.g. Salary, Bonus, Commissions, Insurance, Housing Allowance, Travel, Car Allowance, Etc.). Attach additional sheets if necessary.

INSIDERS

NAMETYPE OF

PAYMENT AMOUNT PAIDTOTAL PAID TO

DATE

TOTAL PAYMENTS TO INSIDERS 0.00 0.00

PROFESSIONALS

NAME

DATE OF COURT ORDER

AUTHORIZING PAYMENT

AMOUNT APPROVED AMOUNT PAID

TOTAL PAID TO DATE

TOTAL INCURRED &

UNPAID*Klestadt Winters Jureller Southard & Stevens, LLP 10/18/2018 57,643.90$ 57,643.90$ 57,643.90$ 14,295.10$ Klestadt Winters Jureller Southard & Stevens, LLP 10/29/2018 34,280.94$ 34,280.94$ 34,280.94$ 8,351.70$ Klestadt Winters Jureller Southard & Stevens, LLP 11/30/2018 16,782.54$ 16,782.54$ 16,782.54$ 4,167.50$ Klestadt Winters Jureller Southard & Stevens, LLP 12/24/2018 17,415.83$ 17,415.83$ 17,415.83$ 4,307.80$ Klestadt Winters Jureller Southard & Stevens, LLP 2/12/2019 11,125.59$ 11,125.59$ 11,125.59$ 2,689.00$ Klestadt Winters Jureller Southard & Stevens, LLP 3/18/2019 31,323.40$ 31,323.40$ 31,323.40$ 7,814.00$ Klestadt Winters Jureller Southard & Stevens, LLP 4/26/2019 29,708.82$ 29,708.82$ 29,708.82$ 7,354.00$

CR3 Partners, LLC 10/18/2018 213,595.00$ 213,595.00$ 213,595.00$ -$ CR3 Partners, LLC 10/29/2018 132,753.71$ 132,753.71$ 132,753.71$ -$ CR3 Partners, LLC 11/30/2018 63,564.67$ 63,564.67$ 63,564.67$ -$ CR3 Partners, LLC 12/24/2018 41,429.65$ 41,429.65$ 41,429.65$ -$ CR3 Partners, LLC 2/12/2019 70,638.23$ 70,638.23$ 70,638.23$ -$ CR3 Partners, LLC 3/18/2019 95,874.03$ 95,874.03$ 95,874.03$ -$ CR3 Partners, LLC 4/26/2019 70,805.67$ 70,805.67$ 70,805.67$ -$

Omni Management Group, Inc. N/A 3,642.26$ 3,642.26$ 3,642.26$ -$ Omni Management Group, Inc. 10/18/2018 14,435.90$ 14,435.90$ 14,435.90$ 539.90$ Omni Management Group, Inc. 10/29/2018 8,789.02$ 8,789.02$ 8,789.02$ 414.60$ Omni Management Group, Inc. 11/30/2018 2,459.72$ 2,459.72$ 2,459.72$ -$ Omni Management Group, Inc. 12/24/2018 1,930.59$ 1,930.59$ 1,930.59$ -$ Omni Management Group, Inc. 2/12/2019 1,041.07$ 1,041.07$ 1,041.07$ -$

Verdolino & Lowey, P.C 10/29/2018 1,806.00$ 1,806.00$ 1,806.00$ 451.50$ Verdolino & Lowey, P.C 12/24/2018 3,624.00$ 3,624.00$ 3,624.00$ 906.00$ Verdolino & Lowey, P.C 2/12/2019 1,537.60$ 1,537.60$ 1,537.60$ 384.40$

Silverman Acampora N/A 6,096.58$ 6,096.58$ 6,096.58$ -$ Silverman Acampora N/A 33,009.79$ 33,009.79$ 33,009.79$ -$ Silverman Acampora N/A 16,769.50$ 16,769.50$ 16,769.50$ -$ Silverman Acampora N/A 29,935.27$ 29,935.27$ 29,935.27$ -$ Silverman Acampora N/A 40,317.00$ 40,317.00$ 40,317.00$ -$ Silverman Acampora N/A 15,425.50$ 15,425.50$ 15,425.50$ -$

TOTAL PAYMENTS TO PROFESSIONALS 1,067,761.78$ 1,067,761.78$ 1,067,761.78$ 51,675.50$ * INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED

POST-PETITION STATUS OF SECURED NOTES, LEASES PAYABLEAND ADEQUATE PROTECTION PAYMENTS

NAME OF CREDITORSCHEDULED MONTHLY

PAYMENT DUE

AMOUNT PAID DURING MONTH

TOTAL UNPAID POST-PETITION

Wilmington Trust, N.A. 149,539.00$ 149,539.00$ -$

TOTAL PAYMENTS 149,539.00$ -$

NAME OF CREDITORSCHEDULED MONTHLY

PAYMENT DUE

AMOUNT PAID DURING MONTH

TOTAL UNPAID POST-PETITION

Wilmington Trust, N.A. 149,539.00$ -$ 149,539.00$

TOTAL PAYMENTS -$ 149,539.00$

FORM MOR-6 (Report)2/2008

PAGE 10 OF 11



DEBTOR QUESTIONNAIRE

Must be completed each month. If the answer to any of the questions is “Yes”, provide a detailed explanation of each item. Attach additional sheets if necessar�� Yes No Explanation

1 Have any assets been sold or transferred outside the normal course of business this reporting period? x x2 Have any funds been disbursed from any account other than a debtor in possession account this reporting

x x

3 Is the Debtor delinquent in the timely filing of any post-petition tax returns? x x4 Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or

has the debtor received notice of expiration or cancellation of such policies? x x

5 Is the Debtor delinquent in paying any insurance premium payment? x x6 Have any payments been made on pre-petition liabilities this reporting period? x x7 Are any post petition receivables (accounts, notes or loans) due from related parties? x x8 Are any post petition payroll taxes past due? x x9 Are any post petition State or Federal income taxes past due? x x

10 Are any post petition real estate taxes past due? x x11 Are any other post petition taxes past due? x x12 Have any pre-petition taxes been paid during this reporting period? x x13 Are any amounts owed to post petition creditors delinquent? x x14 Are any wage payments past due? x x15 Have any post petition loans been been received by the Debtor from any party? x x16 Is the Debtor delinquent in paying any U.S. Trustee fees? x x17 Is the Debtor delinquent with any court ordered payments to attorneys or other professionals? x x18 Have the owners or shareholders received any compensation outside of the normal course of business? x x

FORM MOR-72/2008

PAGE 11 OF 11


Statement PeriodFrom April 01, 2019To April 30, 2019Page 1 of 7

PRIVATE CLIENT GROUP 311950 THIRD AVENUENEW YORK, NY 10022JOHN D. GONZALEZ(646) 822-1501

FLATIRONHOTEL OPERATIONS LLC DIP 9-311CASE NUMBER 18-12341-SMBOPERATING ACCOUNT9 W 26TH STREETNEW YORK NY 10010 999 See Back for Important Information

Primary Account: XXXXXX9229 54

AVOID BUSINESS E-MAIL FINANCIAL FRAUD! PLEASE VISIT THE "PRIVACY & SECURITY"SECTION LOCATED UNDER THE "ABOUT US" HEADING AT WWW.SIGNATURENY.COM. SELECT"BUSINESS E-MAIL COMPROMISE" TO READ THE RECENT NEWS FROM THE FEDERALBUREAU OF INVESTIGATION REGARDING FRAUD TARGETING BUSINESSES, INCLUDINGGUIDANCE ON WHAT YOU CAN DO TO REDUCE YOUR RISK OF BECOMING A VICTIM.SIGNATURE BANK BELIEVES THAT THIS IS IMPORTANT NEWS TO SHARE WITH OURCLIENTS. WE ARE MAKING IT AVAILABLE TO YOU FOR YOUR INFORMATION AND ANYACTION THAT YOU MAY CONSIDER APPROPRIATE.

Signature Relationship Summary Opening Bal. Closing Bal.

BANK DEPOSIT ACCOUNTS XXXXXX9229 BANKRUPTCY CHECKING 650,991.04 472,110.24

RELATIONSHIP TOTAL 472,110.24






BANKRUPTCY CHECKING XXXXXX9229

Summary

Previous Balance as of April 01, 2019 650,991.04 57 Credits 318,603.64 68 Debits 497,484.44

Ending Balance as of April 30, 2019 472,110.24

Deposits and Other CreditsApr 01 ACH DEPOSIT ck/ref no. 98209 147.57

AMERICAN EXPRESS SETTLEMENT 1314838335Apr 01 ACH DEPOSIT ck/ref no. 98481 688.47

BANKCARD MTOT DEP 518993320142714Apr 01 ACH DEPOSIT ck/ref no. 113747 4,456.36

AMERICAN EXPRESS SETTLEMENT 1314838335Apr 01 ACH DEPOSIT ck/ref no. 21126 5,108.32

TRAVELSCAPE, LLC 1002421955 1002421955.1664ISA 00 00 ZZ EXPDORAPRISA 00 00 ZZ EXPDORAPRD ZZ BOFAECSUSO 190329 0950014FLATIRON HOTEL O

Apr 01 ACH DEPOSIT ck/ref no. 102093 10,967.52 BANKCARD MTOT DEP 518993320142714

Apr 02 ACH DEPOSIT ck/ref no. 242906 571.15 AMERICAN EXPRESS SETTLEMENT 1314838335


Apr 02 DEPOSIT 1,314.20 Apr 03 ACH DEPOSIT ck/ref no. 362587 1,088.85


BANKCARD MTOT DEP 518993320142714Apr 04 ACH DEPOSIT ck/ref no. 479601 639.03

AMERICAN EXPRESS SETTLEMENT 1314838335







Apr 05 ACH DEPOSIT ck/ref no. 677647 1,495.23 AMERICAN EXPRESS SETTLEMENT 1314838335


















BANKCARD MTOT DEP 518993320142714

























BANKCARD MTOT DEP 518993320142714












Withdrawals and Other DebitsApr 02 AUTOMATED PAYMENT ck/ref no. 199155 4,930.64

BANKCARD MTOT DISC 518993320142714Apr 04 10,000.00 ONLINE TRANSFER DR ONLINE

XFR TO: XXXXXX9253Apr 10 OUTGOING WIRE XFER 149,539.00

REF# 20190410B6B7261F002106TO: REAM AS TRUSTEE FOR VARIOUS ABA: 121000248BANK: WELLS FARGO NA ACCT# 5077594011216OBI: RE:(LOAN NUMBER: 300571303)OBI:OBI:

Apr 10 10,000.00 ONLINE TRANSFER DR ONLINE XFR TO: XXXXXX9253




Apr 25 AUTOMATED PAYMENT ck/ref no. 2372741 50.00 SHIFT4-DEBITS 042519IMP C179520000980090

Apr 26 OUTGOING WIRE XFER 29,708.82 REF# 20190426B6B7261F001547TO: KLESTADT WINTERS JURELLER SOUTHARD ABA: 026013576BANK: SIGNATURE BANK ACCT# 1500879854






Date DescriptionApr 26 OUTGOING WIRE XFER 55,742.20

REF# 20190426B6B7261F001558TO: SILVERMAN ACAMPORA LLP ABA: 026009593BANK: BK AMER NYC ACCT# 483006956157

Apr 26 OUTGOING WIRE XFER 70,805.67 REF# 20190426B6B7261F001565TO: CR3 PARTNERS LLC ABA: 062005690BANK: REGIONS BK ACCT# 0233259046

Apr 26 WIRE TRANSFER FEE 25.00 REF# 20190426B6B7261F001547TO: KLESTADT WINTERS JURELLER SOUTHARD ABA: 026013576BANK: SIGNATURE BANK ACCT# 1500879854

Apr 26 WIRE TRANSFER FEE 25.00 REF# 20190426B6B7261F001558TO: SILVERMAN ACAMPORA LLP ABA: 026009593BANK: BK AMER NYC ACCT# 483006956157

Apr 26 WIRE TRANSFER FEE 25.00 REF# 20190426B6B7261F001565TO: CR3 PARTNERS LLC ABA: 062005690BANK: REGIONS BK ACCT# 0233259046

Checks by Serial NumberApr 23 2249 362.55 Apr 10 2305 326.60Apr 08 2287 * 206.43 Apr 03 2306 166.56Apr 08 2290 * 1,058.99 Apr 11 2307 1,132.30Apr 08 2291 2,318.41 Apr 12 2308 294.83Apr 15 2292 580.17 Apr 12 2309 75.62Apr 03 2293 300.00 Apr 11 2310 680.47Apr 10 2294 517.16 Apr 11 2311 1,322.61Apr 10 2295 1,842.22 Apr 11 2312 240.00Apr 10 2296 3,625.54 Apr 16 2313 2,203.28Apr 10 2297 10,550.37 Apr 12 2314 4,000.00Apr 10 2298 965.56 Apr 12 2315 4,420.97Apr 11 2299 265.48 Apr 08 2316 761.85Apr 11 2300 676.09 Apr 08 2317 452.37Apr 08 2301 792.67 Apr 11 2318 762.13Apr 09 2302 98.93 Apr 12 2319 1,182.16Apr 12 2303 9,656.57 Apr 12 2320 645.78Apr 03 2304 150.00 Apr 12 2321 171.58






Date Serial Nbr Amount Date Serial Nbr AmountApr 12 2322 62.50 Apr 17 2346 17.69Apr 12 2323 213.65 Apr 16 2347 119.76Apr 17 2338 * 562.49 Apr 12 2348 500.00Apr 15 2339 13,949.76 Apr 17 2349 1,247.54Apr 15 2340 5,000.00 Apr 15 2350 8,900.00Apr 16 2341 1,261.12 Apr 12 2351 985.59Apr 16 2342 1,058.09 Apr 30 2357 * 800.00Apr 16 2343 5,090.15 Apr 30 2363 * 1,232.89Apr 17 2344 2,191.76 Apr 30 2372 * 400.00Apr 16 2345 33.64 Apr 30 2375 * 200.23

* Indicates break in check sequence

Daily BalancesMar 31 650,991.04 Apr 16 549,222.85Apr 01 672,359.28 Apr 17 491,287.51Apr 02 682,214.21 Apr 18 511,182.04Apr 03 684,826.19 Apr 19 515,976.19Apr 04 680,310.52 Apr 22 551,462.62Apr 05 685,276.76 Apr 23 556,306.26Apr 08 709,839.35 Apr 24 570,184.15Apr 09 726,505.71 Apr 25 574,488.91Apr 10 559,603.00 Apr 26 431,743.09Apr 11 560,225.84 Apr 29 462,676.56Apr 12 541,594.93 Apr 30 472,110.24Apr 15 546,772.54




FLATIRONHOTEL OPERATIONS LLC DIP 8-311CASE NUMBER 18-12341-SMBPAYROLL ACCOUNT9 W 26TH STNEW YORK NY 10010 999 See Back for Important Information












Summary

Previous Balance as of April 01, 2019 55,058.50 1 Credits 50,000.00

17 Debits 70,775.84 Ending Balance as of April 30, 2019 34,282.66

Deposits and Other CreditsApr 17 ONLINE TRANSFER CR 50,000.00

ONLINE XFR FROM: XXXXXX9229

Withdrawals and Other DebitsApr 03 OUTGOING WIRE XFER 10,422.32

REF# 20190403B6B7261F001634TO: ADP CLIENT TRUST ABA: 021000021BANK: JPMORGAN CHASE ACCT# 192835673

Apr 04 OUTGOING WIRE XFER 307.36 REF# 20190404B6B7261F000213TO: ADP CLIENT TRUST ABA: 021000021BANK: JPMORGAN CHASE ACCT# 192835673


Apr 04 OUTGOING WIRE XFER 5,731.01 REF# 20190404B6B7261F000183TO: ADP CLIENT TRUST ABA: 021000021BANK: JPMORGAN CHASE ACCT# 192835681

Apr 05 AUTOMATED PAYMENT ck/ref no. 521522 227.62 ADP PAYROLL FEES ADP - FEES 2R2VR 8872977

Apr 10 OUTGOING WIRE XFER 11,525.46 REF# 20190410B6B7261F001657TO: ADP CLIENT TRUST ABA: 021000021






Date DescriptionBANK: JPMORGAN CHASE ACCT# 192835673

















Daily BalancesMar 31 55,058.50 Apr 17 58,725.28Apr 03 44,636.18 Apr 18 53,271.08Apr 04 37,903.18 Apr 19 53,035.96Apr 05 37,675.56 Apr 24 40,598.87Apr 10 26,150.10 Apr 25 34,679.78Apr 11 20,907.72 Apr 26 34,282.66Apr 12 20,676.35




FLATIRONHOTEL OPERATIONS LLC DIP 9-311CASE NUMBER 18-12341-SMBESCROW ACCOUNT9 W 26TH STNEW YORK NY 10010 999 See Back for Important Information









FLATIRONHOTEL OPERATIONS LLC DIP 9-311CASE NUMBER 18-12341-SMBESCROW ACCOUNT9 W 26TH STNEW YORK NY 10010 999 See Back for Important Information



Summary

Previous Balance as of April 01, 2019 21,366.79 4 Credits 40,000.00 1 Debits 16,168.87


Deposits and Other CreditsApr 04 10,000.00 ONLINE TRANSFER CR

ONLINE XFR FROM: XXXXXX9229Apr 10 10,000.00 ONLINE TRANSFER CR



ONLINE XFR FROM: XXXXXX9229

Checks by Serial NumberApr 11 1044 16,168.87

Daily BalancesMar 31 21,366.79 Apr 11 25,197.92Apr 04 31,366.79 Apr 17 35,197.92Apr 10 41,366.79 Apr 23 45,197.92




1141 REALTY OWNER LLC DIP 8-311CASE NUMBER 18 12341 SMB9 W 26TH STNEW YORK NY 10010 999

See Back for Important Information









1141 REALTY OWNER LLC DIP 8-311CASE NUMBER 18 12341 SMB9 W 26TH STNEW YORK NY 10010 999

See Back for Important Information



Summary

Previous Balance as of April 01, 2019 22,846.56 1 Credits 5,711.64


Deposits and Other CreditsApr 02 DEPOSIT ref# 5,711.64

Daily BalancesMar 31 22,846.56 Apr 02 28,558.20


Documents

18-12341-smb Doc 165 Filed 05/22/19 Entered 05/22/19 10:52