Apartment Report

Year Ended 2010-12-31

200 East 36 St
#12G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,662
Receivables (Note 3)	2,908
Prepaid expenses (Note 4)	498
Total Current Assets	5,069
Reserve fund (Notes 2 and 5)	6,761
Property and Improvements: (Notes 2 and 6)
Land	23,677
Building	94,707
Building improvements and equipment	21,932
Total	140,316
Less: accumulated depreciation	79,694
Net Property and Improvements	60,622
Other Assets:
Cash - security deposits	798
Unamortized mortgage finance costs (Note 2)	677
Deferred ieasing commissions (Note 2)	268
Total Other Assets	1,743
Total Assets	74,196
Liabilities
Current Liabilities:
Accounts payable	636
Real estate tax abatements	828
Accrued mortgage interest	254
Building improvements payable	-0-
Advance maintenance	101
Total Current Liabilities	1,818
Long-Term Liabilities:
Mortgage payable (Note 7)	51,869
Security deposits payable	798
Total Long-Term Liabilities	52,668
Total Liabilities	54,486
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	378
Additional paid-in capital	79,011
Accumulated deficit	(59,679)
Total Stackholders' Equity	19,710
Total Liabilities and Stockholders' Equity	74,196

STATEMENTS OF OPERATIONS
Revenues
Maintenance	14,979
Commercial and professional	3,846
Operating assessment	1,453
Electricity charges rebilled	896
Other sharehalder fees	291
Laundry income	48
Total Revenues	21,513
Cost of Operations
Administrative expenses Schedule 1	833
Operating expenses Schedule 2	8,262
Repairs and maintenance Schedule 3	848
Real estate tax	8,531
Interest expense	2,987
Corporation taxes	110
Total Cost of Operations	21,570
Loss from operations before other items and depreciation and amortization	(57)
Interest income	90
Transfer fees (Note 2)	49
Income Before Depreciation and Amortization	82
Depreciation and amortization	(3,698)
Net Loss For The Year	(3,617)