Apartment Report

Year Ended 2011-12-31

200 East 36 St
#13C
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,700
Receivables (Note 3)	2,584
Prepaid expenses (Note 4)	396
Total Current Assets	4,680
Reserve fund (Notes 2 and 5)	5,245
Property and Improvements: (Notes 2 and 6)
Land	20,670
Building	82,681
Building improvements and equipment	19,651
Total	123,003
Less: accumulated depreciation	72,654
Net Property and Improvements	50,349
Other Assets:
Cash - security deposits	625
Unamortized mortgage finance costs (Note 2)	543
Deferred ieasing commissions (Note 2)	173
Total Other Assets	1,342
Total Assets	61,615
Liabilities
Current Liabilities:
Accounts payable	595
Real estate tax abatements	724
Accrued mortgage interest	221
Building improvements payable	156
Advance maintenance	65
Total Current Liabilities	1,761
Long-Term Liabilities:
Mortgage payable (Note 7)	45,283
Security deposits payable	542
Total Long-Term Liabilities	45,824
Total Liabilities	47,586
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	330
Additional paid-in capital	68,978
Accumulated deficit	(55,278)
Total Stackholders' Equity	14,030
Total Liabilities and Stockholders' Equity	61,615

STATEMENTS OF OPERATIONS
Revenues
Maintenance	13,484
Commercial and professional	3,087
Operating assessment	1,357
Electricity charges rebilled	731
Other sharehalder fees	278
Laundry income	42
Total Revenues	18,979
Cost of Operations
Administrative expenses Schedule 1	829
Operating expenses Schedule 2	7,417
Repairs and maintenance Schedule 3	865
Real estate tax	7,740
Interest expense	2,608
Corporation taxes	100
Total Cost of Operations	19,559
Loss from operations before other items and depreciation and amortization	(580)
Interest income	66
Transfer fees (Note 2)	524
Income Before Depreciation and Amortization	10
Depreciation and amortization	(3,188)
Net Loss For The Year	(3,178)