Apartment Report

Year Ended 2011-12-31

200 East 36 St
#11D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,184
Receivables (Note 3)	3,320
Prepaid expenses (Note 4)	509
Total Current Assets	6,013
Reserve fund (Notes 2 and 5)	6,739
Property and Improvements: (Notes 2 and 6)
Land	26,558
Building	106,233
Building improvements and equipment	25,249
Total	158,040
Less: accumulated depreciation	93,349
Net Property and Improvements	64,690
Other Assets:
Cash - security deposits	803
Unamortized mortgage finance costs (Note 2)	698
Deferred ieasing commissions (Note 2)	223
Total Other Assets	1,724
Total Assets	79,166
Liabilities
Current Liabilities:
Accounts payable	764
Real estate tax abatements	930
Accrued mortgage interest	285
Building improvements payable	200
Advance maintenance	84
Total Current Liabilities	2,263
Long-Term Liabilities:
Mortgage payable (Note 7)	58,182
Security deposits payable	696
Total Long-Term Liabilities	58,877
Total Liabilities	61,140
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	(71,024)
Total Stackholders' Equity	18,026
Total Liabilities and Stockholders' Equity	79,166

STATEMENTS OF OPERATIONS
Revenues
Maintenance	17,324
Commercial and professional	3,967
Operating assessment	1,744
Electricity charges rebilled	939
Other sharehalder fees	357
Laundry income	54
Total Revenues	24,385
Cost of Operations
Administrative expenses Schedule 1	1,066
Operating expenses Schedule 2	9,530
Repairs and maintenance Schedule 3	1,112
Real estate tax	9,944
Interest expense	3,351
Corporation taxes	128
Total Cost of Operations	25,130
Loss from operations before other items and depreciation and amortization	(745)
Interest income	85
Transfer fees (Note 2)	674
Income Before Depreciation and Amortization	13
Depreciation and amortization	(4,096)
Net Loss For The Year	(4,083)