Apartment Report

Year Ended 2011-12-31

200 East 36 St
#16G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,091
Receivables (Note 3)	3,179
Prepaid expenses (Note 4)	488
Total Current Assets	5,758
Reserve fund (Notes 2 and 5)	6,453
Property and Improvements: (Notes 2 and 6)
Land	25,431
Building	101,723
Building improvements and equipment	24,177
Total	151,330
Less: accumulated depreciation	89,386
Net Property and Improvements	61,944
Other Assets:
Cash - security deposits	769
Unamortized mortgage finance costs (Note 2)	668
Deferred ieasing commissions (Note 2)	213
Total Other Assets	1,651
Total Assets	75,806
Liabilities
Current Liabilities:
Accounts payable	732
Real estate tax abatements	891
Accrued mortgage interest	272
Building improvements payable	192
Advance maintenance	80
Total Current Liabilities	2,167
Long-Term Liabilities:
Mortgage payable (Note 7)	55,712
Security deposits payable	666
Total Long-Term Liabilities	56,378
Total Liabilities	58,545
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	(68,009)
Total Stackholders' Equity	17,261
Total Liabilities and Stockholders' Equity	75,806

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,589
Commercial and professional	3,798
Operating assessment	1,670
Electricity charges rebilled	899
Other sharehalder fees	342
Laundry income	51
Total Revenues	23,350
Cost of Operations
Administrative expenses Schedule 1	1,020
Operating expenses Schedule 2	9,125
Repairs and maintenance Schedule 3	1,064
Real estate tax	9,522
Interest expense	3,208
Corporation taxes	123
Total Cost of Operations	24,063
Loss from operations before other items and depreciation and amortization	(713)
Interest income	81
Transfer fees (Note 2)	645
Income Before Depreciation and Amortization	13
Depreciation and amortization	(3,922)
Net Loss For The Year	(3,909)