Apartment Report

Year Ended 2010-12-31

200 East 36 St
#14D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,970
Receivables (Note 3)	3,447
Prepaid expenses (Note 4)	591
Total Current Assets	6,008
Reserve fund (Notes 2 and 5)	8,013
Property and Improvements: (Notes 2 and 6)
Land	28,061
Building	112,246
Building improvements and equipment	25,994
Total	166,301
Less: accumulated depreciation	94,452
Net Property and Improvements	71,848
Other Assets:
Cash - security deposits	946
Unamortized mortgage finance costs (Note 2)	802
Deferred ieasing commissions (Note 2)	318
Total Other Assets	2,066
Total Assets	87,936
Liabilities
Current Liabilities:
Accounts payable	754
Real estate tax abatements	981
Accrued mortgage interest	301
Building improvements payable	-0-
Advance maintenance	119
Total Current Liabilities	2,155
Long-Term Liabilities:
Mortgage payable (Note 7)	61,475
Security deposits payable	946
Total Long-Term Liabilities	62,421
Total Liabilities	64,576
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	448
Additional paid-in capital	93,643
Accumulated deficit	(70,731)
Total Stackholders' Equity	23,360
Total Liabilities and Stockholders' Equity	87,936

STATEMENTS OF OPERATIONS
Revenues
Maintenance	17,753
Commercial and professional	4,558
Operating assessment	1,722
Electricity charges rebilled	1,062
Other sharehalder fees	345
Laundry income	57
Total Revenues	25,497
Cost of Operations
Administrative expenses Schedule 1	987
Operating expenses Schedule 2	9,792
Repairs and maintenance Schedule 3	1,005
Real estate tax	10,110
Interest expense	3,540
Corporation taxes	130
Total Cost of Operations	25,565
Loss from operations before other items and depreciation and amortization	(68)
Interest income	107
Transfer fees (Note 2)	58
Income Before Depreciation and Amortization	97
Depreciation and amortization	(4,383)
Net Loss For The Year	(4,286)