Apartment Report

Year Ended 2011-12-31

200 East 36 St
#14D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,307
Receivables (Note 3)	3,508
Prepaid expenses (Note 4)	538
Total Current Assets	6,353
Reserve fund (Notes 2 and 5)	7,121
Property and Improvements: (Notes 2 and 6)
Land	28,061
Building	112,246
Building improvements and equipment	26,678
Total	166,985
Less: accumulated depreciation	98,633
Net Property and Improvements	68,352
Other Assets:
Cash - security deposits	849
Unamortized mortgage finance costs (Note 2)	737
Deferred ieasing commissions (Note 2)	236
Total Other Assets	1,822
Total Assets	83,647
Liabilities
Current Liabilities:
Accounts payable	807
Real estate tax abatements	983
Accrued mortgage interest	301
Building improvements payable	212
Advance maintenance	89
Total Current Liabilities	2,391
Long-Term Liabilities:
Mortgage payable (Note 7)	61,475
Security deposits payable	735
Total Long-Term Liabilities	62,210
Total Liabilities	64,601
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	(75,044)
Total Stackholders' Equity	19,046
Total Liabilities and Stockholders' Equity	83,647

STATEMENTS OF OPERATIONS
Revenues
Maintenance	18,305
Commercial and professional	4,191
Operating assessment	1,843
Electricity charges rebilled	992
Other sharehalder fees	378
Laundry income	57
Total Revenues	25,765
Cost of Operations
Administrative expenses Schedule 1	1,126
Operating expenses Schedule 2	10,069
Repairs and maintenance Schedule 3	1,174
Real estate tax	10,507
Interest expense	3,540
Corporation taxes	136
Total Cost of Operations	26,553
Loss from operations before other items and depreciation and amortization	(787)
Interest income	90
Transfer fees (Note 2)	712
Income Before Depreciation and Amortization	14
Depreciation and amortization	(4,328)
Net Loss For The Year	(4,314)