Apartment Report

Year Ended 2011-12-31

200 East 36 St
#12C
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,669
Receivables (Note 3)	2,537
Prepaid expenses (Note 4)	389
Total Current Assets	4,595
Reserve fund (Notes 2 and 5)	5,150
Property and Improvements: (Notes 2 and 6)
Land	20,294
Building	81,178
Building improvements and equipment	19,294
Total	120,766
Less: accumulated depreciation	71,333
Net Property and Improvements	49,433
Other Assets:
Cash - security deposits	614
Unamortized mortgage finance costs (Note 2)	533
Deferred ieasing commissions (Note 2)	170
Total Other Assets	1,317
Total Assets	60,495
Liabilities
Current Liabilities:
Accounts payable	584
Real estate tax abatements	711
Accrued mortgage interest	217
Building improvements payable	153
Advance maintenance	64
Total Current Liabilities	1,729
Long-Term Liabilities:
Mortgage payable (Note 7)	44,459
Security deposits payable	532
Total Long-Term Liabilities	44,991
Total Liabilities	46,720
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	324
Additional paid-in capital	67,724
Accumulated deficit	(54,273)
Total Stackholders' Equity	13,775
Total Liabilities and Stockholders' Equity	60,495

STATEMENTS OF OPERATIONS
Revenues
Maintenance	13,238
Commercial and professional	3,031
Operating assessment	1,333
Electricity charges rebilled	717
Other sharehalder fees	273
Laundry income	41
Total Revenues	18,634
Cost of Operations
Administrative expenses Schedule 1	814
Operating expenses Schedule 2	7,282
Repairs and maintenance Schedule 3	849
Real estate tax	7,599
Interest expense	2,560
Corporation taxes	98
Total Cost of Operations	19,203
Loss from operations before other items and depreciation and amortization	(569)
Interest income	65
Transfer fees (Note 2)	515
Income Before Depreciation and Amortization	10
Depreciation and amortization	(3,130)
Net Loss For The Year	(3,120)