Apartment Report

Year Ended 2011-12-31

200 East 36 St
#14C
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,731
Receivables (Note 3)	2,631
Prepaid expenses (Note 4)	403
Total Current Assets	4,765
Reserve fund (Notes 2 and 5)	5,340
Property and Improvements: (Notes 2 and 6)
Land	21,046
Building	84,184
Building improvements and equipment	20,009
Total	125,239
Less: accumulated depreciation	73,975
Net Property and Improvements	51,264
Other Assets:
Cash - security deposits	637
Unamortized mortgage finance costs (Note 2)	553
Deferred ieasing commissions (Note 2)	177
Total Other Assets	1,366
Total Assets	62,736
Liabilities
Current Liabilities:
Accounts payable	606
Real estate tax abatements	737
Accrued mortgage interest	226
Building improvements payable	159
Advance maintenance	67
Total Current Liabilities	1,793
Long-Term Liabilities:
Mortgage payable (Note 7)	46,106
Security deposits payable	551
Total Long-Term Liabilities	46,658
Total Liabilities	48,451
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	336
Additional paid-in capital	70,232
Accumulated deficit	(56,283)
Total Stackholders' Equity	14,285
Total Liabilities and Stockholders' Equity	62,736

STATEMENTS OF OPERATIONS
Revenues
Maintenance	13,729
Commercial and professional	3,143
Operating assessment	1,382
Electricity charges rebilled	744
Other sharehalder fees	283
Laundry income	43
Total Revenues	19,324
Cost of Operations
Administrative expenses Schedule 1	844
Operating expenses Schedule 2	7,552
Repairs and maintenance Schedule 3	881
Real estate tax	7,880
Interest expense	2,655
Corporation taxes	102
Total Cost of Operations	19,914
Loss from operations before other items and depreciation and amortization	(590)
Interest income	67
Transfer fees (Note 2)	534
Income Before Depreciation and Amortization	11
Depreciation and amortization	(3,246)
Net Loss For The Year	(3,235)