Apartment Report

Year Ended 2010-12-31

200 East 36 St
#16F
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,295
Receivables (Note 3)	4,016
Prepaid expenses (Note 4)	688
Total Current Assets	7,000
Reserve fund (Notes 2 and 5)	9,337
Property and Improvements: (Notes 2 and 6)
Land	32,697
Building	130,786
Building improvements and equipment	30,287
Total	193,770
Less: accumulated depreciation	110,054
Net Property and Improvements	83,716
Other Assets:
Cash - security deposits	1,103
Unamortized mortgage finance costs (Note 2)	935
Deferred ieasing commissions (Note 2)	370
Total Other Assets	2,407
Total Assets	102,461
Liabilities
Current Liabilities:
Accounts payable	879
Real estate tax abatements	1,143
Accrued mortgage interest	350
Building improvements payable	-0-
Advance maintenance	139
Total Current Liabilities	2,511
Long-Term Liabilities:
Mortgage payable (Note 7)	71,629
Security deposits payable	1,103
Total Long-Term Liabilities	72,732
Total Liabilities	75,242
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	522
Additional paid-in capital	109,110
Accumulated deficit	(82,414)
Total Stackholders' Equity	27,219
Total Liabilities and Stockholders' Equity	102,461

STATEMENTS OF OPERATIONS
Revenues
Maintenance	20,685
Commercial and professional	5,311
Operating assessment	2,007
Electricity charges rebilled	1,238
Other sharehalder fees	402
Laundry income	66
Total Revenues	29,708
Cost of Operations
Administrative expenses Schedule 1	1,150
Operating expenses Schedule 2	11,409
Repairs and maintenance Schedule 3	1,171
Real estate tax	11,780
Interest expense	4,125
Corporation taxes	151
Total Cost of Operations	29,787
Loss from operations before other items and depreciation and amortization	(79)
Interest income	124
Transfer fees (Note 2)	68
Income Before Depreciation and Amortization	113
Depreciation and amortization	(5,107)
Net Loss For The Year	(4,994)