Apartment Report

Year Ended 2010-12-31

200 East 36 St
#17B
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,335
Receivables (Note 3)	4,086
Prepaid expenses (Note 4)	700
Total Current Assets	7,121
Reserve fund (Notes 2 and 5)	9,498
Property and Improvements: (Notes 2 and 6)
Land	33,260
Building	133,041
Building improvements and equipment	30,809
Total	197,111
Less: accumulated depreciation	111,951
Net Property and Improvements	85,160
Other Assets:
Cash - security deposits	1,122
Unamortized mortgage finance costs (Note 2)	951
Deferred ieasing commissions (Note 2)	376
Total Other Assets	2,449
Total Assets	104,227
Liabilities
Current Liabilities:
Accounts payable	894
Real estate tax abatements	1,163
Accrued mortgage interest	356
Building improvements payable	-0-
Advance maintenance	141
Total Current Liabilities	2,554
Long-Term Liabilities:
Mortgage payable (Note 7)	72,864
Security deposits payable	1,122
Total Long-Term Liabilities	73,986
Total Liabilities	76,540
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	531
Additional paid-in capital	110,992
Accumulated deficit	(83,835)
Total Stackholders' Equity	27,688
Total Liabilities and Stockholders' Equity	104,227

STATEMENTS OF OPERATIONS
Revenues
Maintenance	21,042
Commercial and professional	5,402
Operating assessment	2,041
Electricity charges rebilled	1,259
Other sharehalder fees	409
Laundry income	67
Total Revenues	30,220
Cost of Operations
Administrative expenses Schedule 1	1,170
Operating expenses Schedule 2	11,606
Repairs and maintenance Schedule 3	1,191
Real estate tax	11,983
Interest expense	4,196
Corporation taxes	154
Total Cost of Operations	30,301
Loss from operations before other items and depreciation and amortization	(81)
Interest income	126
Transfer fees (Note 2)	69
Income Before Depreciation and Amortization	115
Depreciation and amortization	(5,195)
Net Loss For The Year	(5,080)