Apartment Report

Year Ended 2011-12-31

200 East 36 St
#13D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,266
Receivables (Note 3)	3,445
Prepaid expenses (Note 4)	528
Total Current Assets	6,240
Reserve fund (Notes 2 and 5)	6,993
Property and Improvements: (Notes 2 and 6)
Land	27,560
Building	110,241
Building improvements and equipment	26,202
Total	164,003
Less: accumulated depreciation	96,872
Net Property and Improvements	67,131
Other Assets:
Cash - security deposits	834
Unamortized mortgage finance costs (Note 2)	724
Deferred ieasing commissions (Note 2)	231
Total Other Assets	1,789
Total Assets	82,154
Liabilities
Current Liabilities:
Accounts payable	793
Real estate tax abatements	965
Accrued mortgage interest	295
Building improvements payable	208
Advance maintenance	87
Total Current Liabilities	2,348
Long-Term Liabilities:
Mortgage payable (Note 7)	60,377
Security deposits payable	722
Total Long-Term Liabilities	61,099
Total Liabilities	63,448
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	(73,704)
Total Stackholders' Equity	18,706
Total Liabilities and Stockholders' Equity	82,154

STATEMENTS OF OPERATIONS
Revenues
Maintenance	17,978
Commercial and professional	4,116
Operating assessment	1,810
Electricity charges rebilled	974
Other sharehalder fees	371
Laundry income	56
Total Revenues	25,305
Cost of Operations
Administrative expenses Schedule 1	1,106
Operating expenses Schedule 2	9,889
Repairs and maintenance Schedule 3	1,153
Real estate tax	10,320
Interest expense	3,477
Corporation taxes	133
Total Cost of Operations	26,078
Loss from operations before other items and depreciation and amortization	(773)
Interest income	88
Transfer fees (Note 2)	699
Income Before Depreciation and Amortization	14
Depreciation and amortization	(4,251)
Net Loss For The Year	(4,237)