Apartment Report

Year Ended 2010-12-31

200 East 36 St
#13D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,935
Receivables (Note 3)	3,385
Prepaid expenses (Note 4)	580
Total Current Assets	5,901
Reserve fund (Notes 2 and 5)	7,870
Property and Improvements: (Notes 2 and 6)
Land	27,560
Building	110,241
Building improvements and equipment	25,529
Total	163,331
Less: accumulated depreciation	92,766
Net Property and Improvements	70,565
Other Assets:
Cash - security deposits	929
Unamortized mortgage finance costs (Note 2)	788
Deferred ieasing commissions (Note 2)	312
Total Other Assets	2,029
Total Assets	86,365
Liabilities
Current Liabilities:
Accounts payable	741
Real estate tax abatements	963
Accrued mortgage interest	295
Building improvements payable	-0-
Advance maintenance	117
Total Current Liabilities	2,116
Long-Term Liabilities:
Mortgage payable (Note 7)	60,377
Security deposits payable	929
Total Long-Term Liabilities	61,306
Total Liabilities	63,423
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	440
Additional paid-in capital	91,970
Accumulated deficit	(69,468)
Total Stackholders' Equity	22,943
Total Liabilities and Stockholders' Equity	86,365

STATEMENTS OF OPERATIONS
Revenues
Maintenance	17,436
Commercial and professional	4,476
Operating assessment	1,691
Electricity charges rebilled	1,043
Other sharehalder fees	339
Laundry income	56
Total Revenues	25,041
Cost of Operations
Administrative expenses Schedule 1	970
Operating expenses Schedule 2	9,617
Repairs and maintenance Schedule 3	987
Real estate tax	9,930
Interest expense	3,477
Corporation taxes	128
Total Cost of Operations	25,108
Loss from operations before other items and depreciation and amortization	(67)
Interest income	105
Transfer fees (Note 2)	57
Income Before Depreciation and Amortization	95
Depreciation and amortization	(4,305)
Net Loss For The Year	(4,210)