Apartment Report

Year Ended 2011-12-31

200 East 36 St
#11H
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,622
Receivables (Note 3)	2,466
Prepaid expenses (Note 4)	378
Total Current Assets	4,467
Reserve fund (Notes 2 and 5)	5,007
Property and Improvements: (Notes 2 and 6)
Land	19,731
Building	78,923
Building improvements and equipment	18,758
Total	117,411
Less: accumulated depreciation	69,351
Net Property and Improvements	48,060
Other Assets:
Cash - security deposits	597
Unamortized mortgage finance costs (Note 2)	518
Deferred ieasing commissions (Note 2)	166
Total Other Assets	1,281
Total Assets	58,815
Liabilities
Current Liabilities:
Accounts payable	568
Real estate tax abatements	691
Accrued mortgage interest	211
Building improvements payable	149
Advance maintenance	62
Total Current Liabilities	1,681
Long-Term Liabilities:
Mortgage payable (Note 7)	43,224
Security deposits payable	517
Total Long-Term Liabilities	43,741
Total Liabilities	45,423
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	315
Additional paid-in capital	65,843
Accumulated deficit	(52,766)
Total Stackholders' Equity	13,392
Total Liabilities and Stockholders' Equity	58,815

STATEMENTS OF OPERATIONS
Revenues
Maintenance	12,871
Commercial and professional	2,947
Operating assessment	1,296
Electricity charges rebilled	698
Other sharehalder fees	265
Laundry income	40
Total Revenues	18,116
Cost of Operations
Administrative expenses Schedule 1	792
Operating expenses Schedule 2	7,080
Repairs and maintenance Schedule 3	826
Real estate tax	7,388
Interest expense	2,489
Corporation taxes	95
Total Cost of Operations	18,670
Loss from operations before other items and depreciation and amortization	(554)
Interest income	63
Transfer fees (Note 2)	500
Income Before Depreciation and Amortization	10
Depreciation and amortization	(3,043)
Net Loss For The Year	(3,033)