Apartment Report

Year Ended 2010-12-31

200 East 36 St
#10D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,829
Receivables (Note 3)	3,201
Prepaid expenses (Note 4)	549
Total Current Assets	5,579
Reserve fund (Notes 2 and 5)	7,441
Property and Improvements: (Notes 2 and 6)
Land	26,057
Building	104,228
Building improvements and equipment	24,137
Total	154,422
Less: accumulated depreciation	87,706
Net Property and Improvements	66,716
Other Assets:
Cash - security deposits	879
Unamortized mortgage finance costs (Note 2)	745
Deferred ieasing commissions (Note 2)	295
Total Other Assets	1,919
Total Assets	81,655
Liabilities
Current Liabilities:
Accounts payable	700
Real estate tax abatements	911
Accrued mortgage interest	279
Building improvements payable	-0-
Advance maintenance	111
Total Current Liabilities	2,001
Long-Term Liabilities:
Mortgage payable (Note 7)	57,084
Security deposits payable	879
Total Long-Term Liabilities	57,962
Total Liabilities	59,963
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	416
Additional paid-in capital	86,954
Accumulated deficit	(65,678)
Total Stackholders' Equity	21,691
Total Liabilities and Stockholders' Equity	81,655

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,485
Commercial and professional	4,232
Operating assessment	1,599
Electricity charges rebilled	987
Other sharehalder fees	320
Laundry income	53
Total Revenues	23,675
Cost of Operations
Administrative expenses Schedule 1	917
Operating expenses Schedule 2	9,092
Repairs and maintenance Schedule 3	933
Real estate tax	9,388
Interest expense	3,287
Corporation taxes	121
Total Cost of Operations	23,739
Loss from operations before other items and depreciation and amortization	(63)
Interest income	99
Transfer fees (Note 2)	54
Income Before Depreciation and Amortization	90
Depreciation and amortization	(4,070)
Net Loss For The Year	(3,980)