Apartment Report

Year Ended 2010-12-31

200 East 36 St
#16G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,785
Receivables (Note 3)	3,124
Prepaid expenses (Note 4)	535
Total Current Assets	5,445
Reserve fund (Notes 2 and 5)	7,262
Property and Improvements: (Notes 2 and 6)
Land	25,431
Building	101,723
Building improvements and equipment	23,557
Total	150,710
Less: accumulated depreciation	85,597
Net Property and Improvements	65,113
Other Assets:
Cash - security deposits	858
Unamortized mortgage finance costs (Note 2)	727
Deferred ieasing commissions (Note 2)	288
Total Other Assets	1,872
Total Assets	79,692
Liabilities
Current Liabilities:
Accounts payable	683
Real estate tax abatements	889
Accrued mortgage interest	272
Building improvements payable	-0-
Advance maintenance	108
Total Current Liabilities	1,953
Long-Term Liabilities:
Mortgage payable (Note 7)	55,712
Security deposits payable	858
Total Long-Term Liabilities	56,569
Total Liabilities	58,522
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	406
Additional paid-in capital	84,864
Accumulated deficit	(64,100)
Total Stackholders' Equity	21,170
Total Liabilities and Stockholders' Equity	79,692

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,088
Commercial and professional	4,130
Operating assessment	1,561
Electricity charges rebilled	963
Other sharehalder fees	313
Laundry income	51
Total Revenues	23,106
Cost of Operations
Administrative expenses Schedule 1	895
Operating expenses Schedule 2	8,874
Repairs and maintenance Schedule 3	911
Real estate tax	9,163
Interest expense	3,208
Corporation taxes	118
Total Cost of Operations	23,168
Loss from operations before other items and depreciation and amortization	(62)
Interest income	97
Transfer fees (Note 2)	53
Income Before Depreciation and Amortization	88
Depreciation and amortization	(3,972)
Net Loss For The Year	(3,885)