Apartment Report

Year Ended 2011-12-31

200 East 36 St
#13B
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,983
Receivables (Note 3)	3,015
Prepaid expenses (Note 4)	462
Total Current Assets	5,460
Reserve fund (Notes 2 and 5)	6,119
Property and Improvements: (Notes 2 and 6)
Land	24,115
Building	96,461
Building improvements and equipment	22,927
Total	143,503
Less: accumulated depreciation	84,763
Net Property and Improvements	58,740
Other Assets:
Cash - security deposits	729
Unamortized mortgage finance costs (Note 2)	634
Deferred ieasing commissions (Note 2)	202
Total Other Assets	1,565
Total Assets	71,885
Liabilities
Current Liabilities:
Accounts payable	694
Real estate tax abatements	845
Accrued mortgage interest	258
Building improvements payable	182
Advance maintenance	76
Total Current Liabilities	2,055
Long-Term Liabilities:
Mortgage payable (Note 7)	52,830
Security deposits payable	632
Total Long-Term Liabilities	53,462
Total Liabilities	55,517
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	(64,491)
Total Stackholders' Equity	16,368
Total Liabilities and Stockholders' Equity	71,885

STATEMENTS OF OPERATIONS
Revenues
Maintenance	15,731
Commercial and professional	3,602
Operating assessment	1,584
Electricity charges rebilled	853
Other sharehalder fees	324
Laundry income	49
Total Revenues	22,142
Cost of Operations
Administrative expenses Schedule 1	968
Operating expenses Schedule 2	8,653
Repairs and maintenance Schedule 3	1,009
Real estate tax	9,030
Interest expense	3,042
Corporation taxes	116
Total Cost of Operations	22,819
Loss from operations before other items and depreciation and amortization	(677)
Interest income	77
Transfer fees (Note 2)	612
Income Before Depreciation and Amortization	12
Depreciation and amortization	(3,719)
Net Loss For The Year	(3,707)