Apartment Report

Year Ended 2010-12-31

200 East 36 St
#13B
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,693
Receivables (Note 3)	2,962
Prepaid expenses (Note 4)	508
Total Current Assets	5,163
Reserve fund (Notes 2 and 5)	6,887
Property and Improvements: (Notes 2 and 6)
Land	24,115
Building	96,461
Building improvements and equipment	22,338
Total	142,915
Less: accumulated depreciation	81,170
Net Property and Improvements	61,745
Other Assets:
Cash - security deposits	813
Unamortized mortgage finance costs (Note 2)	690
Deferred ieasing commissions (Note 2)	273
Total Other Assets	1,776
Total Assets	75,570
Liabilities
Current Liabilities:
Accounts payable	648
Real estate tax abatements	843
Accrued mortgage interest	258
Building improvements payable	-0-
Advance maintenance	102
Total Current Liabilities	1,852
Long-Term Liabilities:
Mortgage payable (Note 7)	52,830
Security deposits payable	813
Total Long-Term Liabilities	53,643
Total Liabilities	55,495
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	385
Additional paid-in capital	80,474
Accumulated deficit	(60,784)
Total Stackholders' Equity	20,075
Total Liabilities and Stockholders' Equity	75,570

STATEMENTS OF OPERATIONS
Revenues
Maintenance	15,256
Commercial and professional	3,917
Operating assessment	1,480
Electricity charges rebilled	913
Other sharehalder fees	296
Laundry income	49
Total Revenues	21,911
Cost of Operations
Administrative expenses Schedule 1	848
Operating expenses Schedule 2	8,415
Repairs and maintenance Schedule 3	864
Real estate tax	8,689
Interest expense	3,042
Corporation taxes	112
Total Cost of Operations	21,970
Loss from operations before other items and depreciation and amortization	(58)
Interest income	92
Transfer fees (Note 2)	50
Income Before Depreciation and Amortization	83
Depreciation and amortization	(3,767)
Net Loss For The Year	(3,684)