Apartment Report

Year Ended 2010-12-31

200 East 36 St
#16B
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,515
Receivables (Note 3)	4,401
Prepaid expenses (Note 4)	754
Total Current Assets	7,671
Reserve fund (Notes 2 and 5)	10,231
Property and Improvements: (Notes 2 and 6)
Land	35,828
Building	143,314
Building improvements and equipment	33,188
Total	212,330
Less: accumulated depreciation	120,595
Net Property and Improvements	91,735
Other Assets:
Cash - security deposits	1,208
Unamortized mortgage finance costs (Note 2)	1,024
Deferred ieasing commissions (Note 2)	405
Total Other Assets	2,638
Total Assets	112,275
Liabilities
Current Liabilities:
Accounts payable	963
Real estate tax abatements	1,252
Accrued mortgage interest	384
Building improvements payable	-0-
Advance maintenance	152
Total Current Liabilities	2,751
Long-Term Liabilities:
Mortgage payable (Note 7)	78,490
Security deposits payable	1,208
Total Long-Term Liabilities	79,698
Total Liabilities	82,449
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	572
Additional paid-in capital	119,562
Accumulated deficit	(90,308)
Total Stackholders' Equity	29,826
Total Liabilities and Stockholders' Equity	112,275

STATEMENTS OF OPERATIONS
Revenues
Maintenance	22,666
Commercial and professional	5,819
Operating assessment	2,199
Electricity charges rebilled	1,356
Other sharehalder fees	440
Laundry income	72
Total Revenues	32,554
Cost of Operations
Administrative expenses Schedule 1	1,260
Operating expenses Schedule 2	12,502
Repairs and maintenance Schedule 3	1,283
Real estate tax	12,909
Interest expense	4,520
Corporation taxes	166
Total Cost of Operations	32,641
Loss from operations before other items and depreciation and amortization	(87)
Interest income	136
Transfer fees (Note 2)	74
Income Before Depreciation and Amortization	123
Depreciation and amortization	(5,596)
Net Loss For The Year	(5,473)