Apartment Report

Year Ended 2011-12-31

200 East 36 St
#11G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,911
Receivables (Note 3)	2,905
Prepaid expenses (Note 4)	446
Total Current Assets	5,261
Reserve fund (Notes 2 and 5)	5,897
Property and Improvements: (Notes 2 and 6)
Land	23,238
Building	92,953
Building improvements and equipment	22,093
Total	138,285
Less: accumulated depreciation	81,681
Net Property and Improvements	56,604
Other Assets:
Cash - security deposits	703
Unamortized mortgage finance costs (Note 2)	611
Deferred ieasing commissions (Note 2)	195
Total Other Assets	1,509
Total Assets	69,271
Liabilities
Current Liabilities:
Accounts payable	669
Real estate tax abatements	814
Accrued mortgage interest	249
Building improvements payable	175
Advance maintenance	73
Total Current Liabilities	1,980
Long-Term Liabilities:
Mortgage payable (Note 7)	50,909
Security deposits payable	609
Total Long-Term Liabilities	51,518
Total Liabilities	53,498
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	371
Additional paid-in capital	77,548
Accumulated deficit	(62,146)
Total Stackholders' Equity	15,773
Total Liabilities and Stockholders' Equity	69,271

STATEMENTS OF OPERATIONS
Revenues
Maintenance	15,159
Commercial and professional	3,471
Operating assessment	1,526
Electricity charges rebilled	822
Other sharehalder fees	313
Laundry income	47
Total Revenues	21,337
Cost of Operations
Administrative expenses Schedule 1	932
Operating expenses Schedule 2	8,338
Repairs and maintenance Schedule 3	973
Real estate tax	8,701
Interest expense	2,932
Corporation taxes	112
Total Cost of Operations	21,989
Loss from operations before other items and depreciation and amortization	(652)
Interest income	74
Transfer fees (Note 2)	589
Income Before Depreciation and Amortization	12
Depreciation and amortization	(3,584)
Net Loss For The Year	(3,572)