Apartment Report

Year Ended 2011-12-31

200 East 36 St
#12D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,225
Receivables (Note 3)	3,383
Prepaid expenses (Note 4)	519
Total Current Assets	6,126
Reserve fund (Notes 2 and 5)	6,866
Property and Improvements: (Notes 2 and 6)
Land	27,059
Building	108,237
Building improvements and equipment	25,725
Total	161,021
Less: accumulated depreciation	95,111
Net Property and Improvements	65,911
Other Assets:
Cash - security deposits	818
Unamortized mortgage finance costs (Note 2)	711
Deferred ieasing commissions (Note 2)	227
Total Other Assets	1,757
Total Assets	80,660
Liabilities
Current Liabilities:
Accounts payable	779
Real estate tax abatements	948
Accrued mortgage interest	290
Building improvements payable	204
Advance maintenance	86
Total Current Liabilities	2,306
Long-Term Liabilities:
Mortgage payable (Note 7)	59,279
Security deposits payable	709
Total Long-Term Liabilities	59,988
Total Liabilities	62,294
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	(72,364)
Total Stackholders' Equity	18,366
Total Liabilities and Stockholders' Equity	80,660

STATEMENTS OF OPERATIONS
Revenues
Maintenance	17,651
Commercial and professional	4,041
Operating assessment	1,777
Electricity charges rebilled	957
Other sharehalder fees	364
Laundry income	55
Total Revenues	24,845
Cost of Operations
Administrative expenses Schedule 1	1,086
Operating expenses Schedule 2	9,709
Repairs and maintenance Schedule 3	1,133
Real estate tax	10,132
Interest expense	3,414
Corporation taxes	131
Total Cost of Operations	25,604
Loss from operations before other items and depreciation and amortization	(759)
Interest income	86
Transfer fees (Note 2)	686
Income Before Depreciation and Amortization	14
Depreciation and amortization	(4,173)
Net Loss For The Year	(4,160)