Apartment Report

Year Ended 2011-12-31

200 East 36 St
#16F
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,689
Receivables (Note 3)	4,087
Prepaid expenses (Note 4)	627
Total Current Assets	7,403
Reserve fund (Notes 2 and 5)	8,297
Property and Improvements: (Notes 2 and 6)
Land	32,697
Building	130,786
Building improvements and equipment	31,085
Total	194,568
Less: accumulated depreciation	114,925
Net Property and Improvements	79,642
Other Assets:
Cash - security deposits	989
Unamortized mortgage finance costs (Note 2)	859
Deferred ieasing commissions (Note 2)	274
Total Other Assets	2,123
Total Assets	97,464
Liabilities
Current Liabilities:
Accounts payable	941
Real estate tax abatements	1,145
Accrued mortgage interest	350
Building improvements payable	247
Advance maintenance	103
Total Current Liabilities	2,786
Long-Term Liabilities:
Mortgage payable (Note 7)	71,629
Security deposits payable	857
Total Long-Term Liabilities	72,486
Total Liabilities	75,272
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	(87,440)
Total Stackholders' Equity	22,192
Total Liabilities and Stockholders' Equity	97,464

STATEMENTS OF OPERATIONS
Revenues
Maintenance	21,329
Commercial and professional	4,883
Operating assessment	2,147
Electricity charges rebilled	1,156
Other sharehalder fees	440
Laundry income	66
Total Revenues	30,021
Cost of Operations
Administrative expenses Schedule 1	1,312
Operating expenses Schedule 2	11,732
Repairs and maintenance Schedule 3	1,368
Real estate tax	12,243
Interest expense	4,125
Corporation taxes	158
Total Cost of Operations	30,938
Loss from operations before other items and depreciation and amortization	(917)
Interest income	104
Transfer fees (Note 2)	829
Income Before Depreciation and Amortization	17
Depreciation and amortization	(5,043)
Net Loss For The Year	(5,026)