Apartment Report

Year Ended 2011-12-31

200 East 36 St
#10D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,143
Receivables (Note 3)	3,257
Prepaid expenses (Note 4)	500
Total Current Assets	5,899
Reserve fund (Notes 2 and 5)	6,612
Property and Improvements: (Notes 2 and 6)
Land	26,057
Building	104,228
Building improvements and equipment	24,773
Total	155,058
Less: accumulated depreciation	91,588
Net Property and Improvements	63,470
Other Assets:
Cash - security deposits	788
Unamortized mortgage finance costs (Note 2)	685
Deferred ieasing commissions (Note 2)	219
Total Other Assets	1,692
Total Assets	77,673
Liabilities
Current Liabilities:
Accounts payable	750
Real estate tax abatements	913
Accrued mortgage interest	279
Building improvements payable	196
Advance maintenance	82
Total Current Liabilities	2,220
Long-Term Liabilities:
Mortgage payable (Note 7)	57,084
Security deposits payable	683
Total Long-Term Liabilities	57,767
Total Liabilities	59,987
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	(69,684)
Total Stackholders' Equity	17,686
Total Liabilities and Stockholders' Equity	77,673

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,997
Commercial and professional	3,892
Operating assessment	1,711
Electricity charges rebilled	921
Other sharehalder fees	351
Laundry income	53
Total Revenues	23,925
Cost of Operations
Administrative expenses Schedule 1	1,045
Operating expenses Schedule 2	9,350
Repairs and maintenance Schedule 3	1,091
Real estate tax	9,757
Interest expense	3,287
Corporation taxes	126
Total Cost of Operations	24,656
Loss from operations before other items and depreciation and amortization	(731)
Interest income	83
Transfer fees (Note 2)	661
Income Before Depreciation and Amortization	13
Depreciation and amortization	(4,019)
Net Loss For The Year	(4,006)