Apartment Report

Year Ended 2011-12-31

200 East 36 St
#10G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,875
Receivables (Note 3)	2,850
Prepaid expenses (Note 4)	437
Total Current Assets	5,162
Reserve fund (Notes 2 and 5)	5,785
Property and Improvements: (Notes 2 and 6)
Land	22,800
Building	91,200
Building improvements and equipment	21,676
Total	135,675
Less: accumulated depreciation	80,139
Net Property and Improvements	55,536
Other Assets:
Cash - security deposits	690
Unamortized mortgage finance costs (Note 2)	599
Deferred ieasing commissions (Note 2)	191
Total Other Assets	1,480
Total Assets	67,964
Liabilities
Current Liabilities:
Accounts payable	656
Real estate tax abatements	798
Accrued mortgage interest	244
Building improvements payable	172
Advance maintenance	72
Total Current Liabilities	1,943
Long-Term Liabilities:
Mortgage payable (Note 7)	49,948
Security deposits payable	597
Total Long-Term Liabilities	50,546
Total Liabilities	52,488
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	364
Additional paid-in capital	76,085
Accumulated deficit	(60,974)
Total Stackholders' Equity	15,475
Total Liabilities and Stockholders' Equity	67,964

STATEMENTS OF OPERATIONS
Revenues
Maintenance	14,873
Commercial and professional	3,405
Operating assessment	1,497
Electricity charges rebilled	806
Other sharehalder fees	307
Laundry income	46
Total Revenues	20,934
Cost of Operations
Administrative expenses Schedule 1	915
Operating expenses Schedule 2	8,181
Repairs and maintenance Schedule 3	954
Real estate tax	8,537
Interest expense	2,876
Corporation taxes	110
Total Cost of Operations	21,574
Loss from operations before other items and depreciation and amortization	(640)
Interest income	73
Transfer fees (Note 2)	578
Income Before Depreciation and Amortization	12
Depreciation and amortization	(3,516)
Net Loss For The Year	(3,505)