Apartment Report

Year Ended 2011-12-31

200 East 36 St
#15F
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,647
Receivables (Note 3)	4,025
Prepaid expenses (Note 4)	617
Total Current Assets	7,289
Reserve fund (Notes 2 and 5)	8,170
Property and Improvements: (Notes 2 and 6)
Land	32,195
Building	128,782
Building improvements and equipment	30,608
Total	191,586
Less: accumulated depreciation	113,164
Net Property and Improvements	78,422
Other Assets:
Cash - security deposits	974
Unamortized mortgage finance costs (Note 2)	846
Deferred ieasing commissions (Note 2)	270
Total Other Assets	2,090
Total Assets	95,971
Liabilities
Current Liabilities:
Accounts payable	926
Real estate tax abatements	1,128
Accrued mortgage interest	345
Building improvements payable	243
Advance maintenance	102
Total Current Liabilities	2,743
Long-Term Liabilities:
Mortgage payable (Note 7)	70,531
Security deposits payable	844
Total Long-Term Liabilities	71,375
Total Liabilities	74,118
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	514
Additional paid-in capital	107,438
Accumulated deficit	(86,100)
Total Stackholders' Equity	21,852
Total Liabilities and Stockholders' Equity	95,971

STATEMENTS OF OPERATIONS
Revenues
Maintenance	21,002
Commercial and professional	4,809
Operating assessment	2,114
Electricity charges rebilled	1,138
Other sharehalder fees	433
Laundry income	65
Total Revenues	29,561
Cost of Operations
Administrative expenses Schedule 1	1,292
Operating expenses Schedule 2	11,552
Repairs and maintenance Schedule 3	1,347
Real estate tax	12,055
Interest expense	4,062
Corporation taxes	156
Total Cost of Operations	30,464
Loss from operations before other items and depreciation and amortization	(903)
Interest income	103
Transfer fees (Note 2)	817
Income Before Depreciation and Amortization	16
Depreciation and amortization	(4,965)
Net Loss For The Year	(4,949)