Apartment Report

Year Ended 2010-12-31

200 East 36 St
#15C
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,974
Receivables (Note 3)	3,455
Prepaid expenses (Note 4)	592
Total Current Assets	6,021
Reserve fund (Notes 2 and 5)	8,031
Property and Improvements: (Notes 2 and 6)
Land	28,124
Building	112,496
Building improvements and equipment	26,052
Total	166,672
Less: accumulated depreciation	94,663
Net Property and Improvements	72,009
Other Assets:
Cash - security deposits	948
Unamortized mortgage finance costs (Note 2)	804
Deferred ieasing commissions (Note 2)	318
Total Other Assets	2,071
Total Assets	88,132
Liabilities
Current Liabilities:
Accounts payable	756
Real estate tax abatements	983
Accrued mortgage interest	301
Building improvements payable	-0-
Advance maintenance	119
Total Current Liabilities	2,159
Long-Term Liabilities:
Mortgage payable (Note 7)	61,612
Security deposits payable	948
Total Long-Term Liabilities	62,560
Total Liabilities	64,720
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	449
Additional paid-in capital	93,852
Accumulated deficit	(70,888)
Total Stackholders' Equity	23,412
Total Liabilities and Stockholders' Equity	88,132

STATEMENTS OF OPERATIONS
Revenues
Maintenance	17,792
Commercial and professional	4,568
Operating assessment	1,726
Electricity charges rebilled	1,065
Other sharehalder fees	346
Laundry income	57
Total Revenues	25,554
Cost of Operations
Administrative expenses Schedule 1	989
Operating expenses Schedule 2	9,814
Repairs and maintenance Schedule 3	1,007
Real estate tax	10,133
Interest expense	3,548
Corporation taxes	130
Total Cost of Operations	25,622
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	(4,393)
Net Loss For The Year	(4,296)