Apartment Report

Year Ended 2010-12-31

200 East 36 St
#11D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,864
Receivables (Note 3)	3,262
Prepaid expenses (Note 4)	559
Total Current Assets	5,686
Reserve fund (Notes 2 and 5)	7,584
Property and Improvements: (Notes 2 and 6)
Land	26,558
Building	106,233
Building improvements and equipment	24,601
Total	157,392
Less: accumulated depreciation	89,392
Net Property and Improvements	67,999
Other Assets:
Cash - security deposits	896
Unamortized mortgage finance costs (Note 2)	759
Deferred ieasing commissions (Note 2)	301
Total Other Assets	1,955
Total Assets	83,225
Liabilities
Current Liabilities:
Accounts payable	714
Real estate tax abatements	928
Accrued mortgage interest	285
Building improvements payable	-0-
Advance maintenance	113
Total Current Liabilities	2,039
Long-Term Liabilities:
Mortgage payable (Note 7)	58,182
Security deposits payable	896
Total Long-Term Liabilities	59,077
Total Liabilities	61,116
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	424
Additional paid-in capital	88,626
Accumulated deficit	(66,941)
Total Stackholders' Equity	22,109
Total Liabilities and Stockholders' Equity	83,225

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,802
Commercial and professional	4,314
Operating assessment	1,630
Electricity charges rebilled	1,006
Other sharehalder fees	326
Laundry income	54
Total Revenues	24,131
Cost of Operations
Administrative expenses Schedule 1	934
Operating expenses Schedule 2	9,267
Repairs and maintenance Schedule 3	951
Real estate tax	9,569
Interest expense	3,351
Corporation taxes	123
Total Cost of Operations	24,195
Loss from operations before other items and depreciation and amortization	(64)
Interest income	101
Transfer fees (Note 2)	55
Income Before Depreciation and Amortization	92
Depreciation and amortization	(4,148)
Net Loss For The Year	(4,057)