Apartment Report

Year Ended 2011-12-31

200 East 36 St
#16B
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,946
Receivables (Note 3)	4,479
Prepaid expenses (Note 4)	687
Total Current Assets	8,112
Reserve fund (Notes 2 and 5)	9,091
Property and Improvements: (Notes 2 and 6)
Land	35,828
Building	143,314
Building improvements and equipment	34,062
Total	213,204
Less: accumulated depreciation	125,933
Net Property and Improvements	87,271
Other Assets:
Cash - security deposits	1,084
Unamortized mortgage finance costs (Note 2)	941
Deferred ieasing commissions (Note 2)	301
Total Other Assets	2,326
Total Assets	106,800
Liabilities
Current Liabilities:
Accounts payable	1,031
Real estate tax abatements	1,255
Accrued mortgage interest	384
Building improvements payable	270
Advance maintenance	113
Total Current Liabilities	3,053
Long-Term Liabilities:
Mortgage payable (Note 7)	78,490
Security deposits payable	939
Total Long-Term Liabilities	79,429
Total Liabilities	82,482
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	(95,816)
Total Stackholders' Equity	24,318
Total Liabilities and Stockholders' Equity	106,800

STATEMENTS OF OPERATIONS
Revenues
Maintenance	23,371
Commercial and professional	5,351
Operating assessment	2,353
Electricity charges rebilled	1,267
Other sharehalder fees	482
Laundry income	72
Total Revenues	32,897
Cost of Operations
Administrative expenses Schedule 1	1,437
Operating expenses Schedule 2	12,856
Repairs and maintenance Schedule 3	1,500
Real estate tax	13,416
Interest expense	4,520
Corporation taxes	173
Total Cost of Operations	33,902
Loss from operations before other items and depreciation and amortization	(1,005)
Interest income	114
Transfer fees (Note 2)	909
Income Before Depreciation and Amortization	18
Depreciation and amortization	(5,526)
Net Loss For The Year	(5,508)