Apartment Report

Year Ended 2011-12-31

200 East 36 St
#15G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	4,661
Receivables (Note 3)	7,086
Prepaid expenses (Note 4)	1,087
Total Current Assets	12,834
Reserve fund (Notes 2 and 5)	14,384
Property and Improvements: (Notes 2 and 6)
Land	56,687
Building	226,746
Building improvements and equipment	53,892
Total	337,325
Less: accumulated depreciation	199,248
Net Property and Improvements	138,077
Other Assets:
Cash - security deposits	1,715
Unamortized mortgage finance costs (Note 2)	1,489
Deferred ieasing commissions (Note 2)	476
Total Other Assets	3,680
Total Assets	168,975
Liabilities
Current Liabilities:
Accounts payable	1,631
Real estate tax abatements	1,985
Accrued mortgage interest	607
Building improvements payable	427
Advance maintenance	179
Total Current Liabilities	4,830
Long-Term Liabilities:
Mortgage payable (Note 7)	124,185
Security deposits payable	1,485
Total Long-Term Liabilities	125,670
Total Liabilities	130,500
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	(151,596)
Total Stackholders' Equity	38,475
Total Liabilities and Stockholders' Equity	168,975

STATEMENTS OF OPERATIONS
Revenues
Maintenance	36,978
Commercial and professional	8,466
Operating assessment	3,723
Electricity charges rebilled	2,004
Other sharehalder fees	763
Laundry income	115
Total Revenues	52,048
Cost of Operations
Administrative expenses Schedule 1	2,274
Operating expenses Schedule 2	20,340
Repairs and maintenance Schedule 3	2,373
Real estate tax	21,226
Interest expense	7,152
Corporation taxes	274
Total Cost of Operations	53,638
Loss from operations before other items and depreciation and amortization	(1,590)
Interest income	181
Transfer fees (Note 2)	1,438
Income Before Depreciation and Amortization	29
Depreciation and amortization	(8,743)
Net Loss For The Year	(8,714)