Apartment Report

Year Ended 2010-12-31

200 East 36 St
#15G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	3,979
Receivables (Note 3)	6,963
Prepaid expenses (Note 4)	1,193
Total Current Assets	12,136
Reserve fund (Notes 2 and 5)	16,188
Property and Improvements: (Notes 2 and 6)
Land	56,687
Building	226,746
Building improvements and equipment	52,509
Total	335,942
Less: accumulated depreciation	190,802
Net Property and Improvements	145,140
Other Assets:
Cash - security deposits	1,912
Unamortized mortgage finance costs (Note 2)	1,621
Deferred ieasing commissions (Note 2)	641
Total Other Assets	4,174
Total Assets	177,638
Liabilities
Current Liabilities:
Accounts payable	1,523
Real estate tax abatements	1,981
Accrued mortgage interest	607
Building improvements payable	-0-
Advance maintenance	241
Total Current Liabilities	4,353
Long-Term Liabilities:
Mortgage payable (Note 7)	124,185
Security deposits payable	1,912
Total Long-Term Liabilities	126,096
Total Liabilities	130,449
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	905
Additional paid-in capital	189,167
Accumulated deficit	(142,882)
Total Stackholders' Equity	47,189
Total Liabilities and Stockholders' Equity	177,638

STATEMENTS OF OPERATIONS
Revenues
Maintenance	35,862
Commercial and professional	9,207
Operating assessment	3,479
Electricity charges rebilled	2,146
Other sharehalder fees	697
Laundry income	115
Total Revenues	51,505
Cost of Operations
Administrative expenses Schedule 1	1,994
Operating expenses Schedule 2	19,780
Repairs and maintenance Schedule 3	2,030
Real estate tax	20,424
Interest expense	7,152
Corporation taxes	263
Total Cost of Operations	51,643
Loss from operations before other items and depreciation and amortization	(137)
Interest income	215
Transfer fees (Note 2)	117
Income Before Depreciation and Amortization	195
Depreciation and amortization	(8,854)
Net Loss For The Year	(8,659)