Apartment Report

Year Ended 2010-12-31

200 East 36 St
#12D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,900
Receivables (Note 3)	3,324
Prepaid expenses (Note 4)	570
Total Current Assets	5,793
Reserve fund (Notes 2 and 5)	7,727
Property and Improvements: (Notes 2 and 6)
Land	27,059
Building	108,237
Building improvements and equipment	25,065
Total	160,361
Less: accumulated depreciation	91,079
Net Property and Improvements	69,282
Other Assets:
Cash - security deposits	912
Unamortized mortgage finance costs (Note 2)	774
Deferred ieasing commissions (Note 2)	306
Total Other Assets	1,992
Total Assets	84,795
Liabilities
Current Liabilities:
Accounts payable	727
Real estate tax abatements	946
Accrued mortgage interest	290
Building improvements payable	-0-
Advance maintenance	115
Total Current Liabilities	2,078
Long-Term Liabilities:
Mortgage payable (Note 7)	59,279
Security deposits payable	912
Total Long-Term Liabilities	60,192
Total Liabilities	62,269
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	432
Additional paid-in capital	90,298
Accumulated deficit	(68,205)
Total Stackholders' Equity	22,526
Total Liabilities and Stockholders' Equity	84,795

STATEMENTS OF OPERATIONS
Revenues
Maintenance	17,119
Commercial and professional	4,395
Operating assessment	1,661
Electricity charges rebilled	1,024
Other sharehalder fees	333
Laundry income	55
Total Revenues	24,586
Cost of Operations
Administrative expenses Schedule 1	952
Operating expenses Schedule 2	9,442
Repairs and maintenance Schedule 3	969
Real estate tax	9,749
Interest expense	3,414
Corporation taxes	125
Total Cost of Operations	24,652
Loss from operations before other items and depreciation and amortization	(66)
Interest income	103
Transfer fees (Note 2)	56
Income Before Depreciation and Amortization	93
Depreciation and amortization	(4,227)
Net Loss For The Year	(4,133)