Apartment Report

Year Ended 2011-12-31

200 East 36 St
#10H
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,607
Receivables (Note 3)	2,443
Prepaid expenses (Note 4)	375
Total Current Assets	4,425
Reserve fund (Notes 2 and 5)	4,959
Property and Improvements: (Notes 2 and 6)
Land	19,543
Building	78,171
Building improvements and equipment	18,579
Total	116,293
Less: accumulated depreciation	68,691
Net Property and Improvements	47,602
Other Assets:
Cash - security deposits	591
Unamortized mortgage finance costs (Note 2)	513
Deferred ieasing commissions (Note 2)	164
Total Other Assets	1,269
Total Assets	58,254
Liabilities
Current Liabilities:
Accounts payable	562
Real estate tax abatements	684
Accrued mortgage interest	209
Building improvements payable	147
Advance maintenance	62
Total Current Liabilities	1,665
Long-Term Liabilities:
Mortgage payable (Note 7)	42,813
Security deposits payable	512
Total Long-Term Liabilities	43,325
Total Liabilities	44,990
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	312
Additional paid-in capital	65,215
Accumulated deficit	(52,263)
Total Stackholders' Equity	13,264
Total Liabilities and Stockholders' Equity	58,254

STATEMENTS OF OPERATIONS
Revenues
Maintenance	12,748
Commercial and professional	2,919
Operating assessment	1,283
Electricity charges rebilled	691
Other sharehalder fees	263
Laundry income	40
Total Revenues	17,944
Cost of Operations
Administrative expenses Schedule 1	784
Operating expenses Schedule 2	7,012
Repairs and maintenance Schedule 3	818
Real estate tax	7,318
Interest expense	2,466
Corporation taxes	94
Total Cost of Operations	18,492
Loss from operations before other items and depreciation and amortization	(548)
Interest income	62
Transfer fees (Note 2)	496
Income Before Depreciation and Amortization	10
Depreciation and amortization	(3,014)
Net Loss For The Year	(3,004)