Apartment Report

Year Ended 2011-12-31

200 East 36 St
#15B
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,900
Receivables (Note 3)	4,408
Prepaid expenses (Note 4)	676
Total Current Assets	7,984
Reserve fund (Notes 2 and 5)	8,948
Property and Improvements: (Notes 2 and 6)
Land	35,265
Building	141,059
Building improvements and equipment	33,526
Total	209,850
Less: accumulated depreciation	123,952
Net Property and Improvements	85,898
Other Assets:
Cash - security deposits	1,067
Unamortized mortgage finance costs (Note 2)	927
Deferred ieasing commissions (Note 2)	296
Total Other Assets	2,289
Total Assets	105,119
Liabilities
Current Liabilities:
Accounts payable	1,015
Real estate tax abatements	1,235
Accrued mortgage interest	378
Building improvements payable	266
Advance maintenance	111
Total Current Liabilities	3,005
Long-Term Liabilities:
Mortgage payable (Note 7)	77,255
Security deposits payable	924
Total Long-Term Liabilities	78,179
Total Liabilities	81,184
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	(94,308)
Total Stackholders' Equity	23,935
Total Liabilities and Stockholders' Equity	105,119

STATEMENTS OF OPERATIONS
Revenues
Maintenance	23,004
Commercial and professional	5,267
Operating assessment	2,316
Electricity charges rebilled	1,247
Other sharehalder fees	474
Laundry income	71
Total Revenues	32,379
Cost of Operations
Administrative expenses Schedule 1	1,415
Operating expenses Schedule 2	12,654
Repairs and maintenance Schedule 3	1,476
Real estate tax	13,205
Interest expense	4,449
Corporation taxes	170
Total Cost of Operations	33,368
Loss from operations before other items and depreciation and amortization	(989)
Interest income	113
Transfer fees (Note 2)	895
Income Before Depreciation and Amortization	18
Depreciation and amortization	(5,439)
Net Loss For The Year	(5,421)