Apartment Report

Year Ended 2010-12-31

200 East 36 St
#15B
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,476
Receivables (Note 3)	4,332
Prepaid expenses (Note 4)	742
Total Current Assets	7,550
Reserve fund (Notes 2 and 5)	10,070
Property and Improvements: (Notes 2 and 6)
Land	35,265
Building	141,059
Building improvements and equipment	32,666
Total	208,990
Less: accumulated depreciation	118,698
Net Property and Improvements	90,292
Other Assets:
Cash - security deposits	1,189
Unamortized mortgage finance costs (Note 2)	1,008
Deferred ieasing commissions (Note 2)	399
Total Other Assets	2,597
Total Assets	110,509
Liabilities
Current Liabilities:
Accounts payable	948
Real estate tax abatements	1,233
Accrued mortgage interest	378
Building improvements payable	-0-
Advance maintenance	150
Total Current Liabilities	2,708
Long-Term Liabilities:
Mortgage payable (Note 7)	77,255
Security deposits payable	1,189
Total Long-Term Liabilities	78,444
Total Liabilities	81,152
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	563
Additional paid-in capital	117,680
Accumulated deficit	(88,887)
Total Stackholders' Equity	29,356
Total Liabilities and Stockholders' Equity	110,509

STATEMENTS OF OPERATIONS
Revenues
Maintenance	22,310
Commercial and professional	5,728
Operating assessment	2,164
Electricity charges rebilled	1,335
Other sharehalder fees	434
Laundry income	71
Total Revenues	32,042
Cost of Operations
Administrative expenses Schedule 1	1,241
Operating expenses Schedule 2	12,305
Repairs and maintenance Schedule 3	1,263
Real estate tax	12,706
Interest expense	4,449
Corporation taxes	163
Total Cost of Operations	32,127
Loss from operations before other items and depreciation and amortization	(85)
Interest income	134
Transfer fees (Note 2)	73
Income Before Depreciation and Amortization	122
Depreciation and amortization	(5,508)
Net Loss For The Year	(5,387)