Apartment Report

Year Ended 2011-12-31

200 East 36 St
#14G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,019
Receivables (Note 3)	3,069
Prepaid expenses (Note 4)	471
Total Current Assets	5,559
Reserve fund (Notes 2 and 5)	6,231
Property and Improvements: (Notes 2 and 6)
Land	24,554
Building	98,215
Building improvements and equipment	23,343
Total	146,112
Less: accumulated depreciation	86,304
Net Property and Improvements	59,808
Other Assets:
Cash - security deposits	743
Unamortized mortgage finance costs (Note 2)	645
Deferred ieasing commissions (Note 2)	206
Total Other Assets	1,594
Total Assets	73,192
Liabilities
Current Liabilities:
Accounts payable	706
Real estate tax abatements	860
Accrued mortgage interest	263
Building improvements payable	185
Advance maintenance	78
Total Current Liabilities	2,092
Long-Term Liabilities:
Mortgage payable (Note 7)	53,790
Security deposits payable	643
Total Long-Term Liabilities	54,434
Total Liabilities	56,526
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	392
Additional paid-in capital	81,937
Accumulated deficit	(65,664)
Total Stackholders' Equity	16,666
Total Liabilities and Stockholders' Equity	73,192

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,017
Commercial and professional	3,667
Operating assessment	1,612
Electricity charges rebilled	868
Other sharehalder fees	330
Laundry income	50
Total Revenues	22,545
Cost of Operations
Administrative expenses Schedule 1	985
Operating expenses Schedule 2	8,810
Repairs and maintenance Schedule 3	1,028
Real estate tax	9,194
Interest expense	3,098
Corporation taxes	119
Total Cost of Operations	23,233
Loss from operations before other items and depreciation and amortization	(689)
Interest income	78
Transfer fees (Note 2)	623
Income Before Depreciation and Amortization	12
Depreciation and amortization	(3,787)
Net Loss For The Year	(3,775)