Apartment Report

Year Ended 2011-12-31

200 East 36 St
#17B
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,735
Receivables (Note 3)	4,158
Prepaid expenses (Note 4)	638
Total Current Assets	7,530
Reserve fund (Notes 2 and 5)	8,440
Property and Improvements: (Notes 2 and 6)
Land	33,260
Building	133,041
Building improvements and equipment	31,621
Total	197,922
Less: accumulated depreciation	116,907
Net Property and Improvements	81,015
Other Assets:
Cash - security deposits	1,006
Unamortized mortgage finance costs (Note 2)	874
Deferred ieasing commissions (Note 2)	279
Total Other Assets	2,159
Total Assets	99,145
Liabilities
Current Liabilities:
Accounts payable	957
Real estate tax abatements	1,165
Accrued mortgage interest	356
Building improvements payable	251
Advance maintenance	105
Total Current Liabilities	2,834
Long-Term Liabilities:
Mortgage payable (Note 7)	72,864
Security deposits payable	872
Total Long-Term Liabilities	73,736
Total Liabilities	76,570
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	(88,948)
Total Stackholders' Equity	22,575
Total Liabilities and Stockholders' Equity	99,145

STATEMENTS OF OPERATIONS
Revenues
Maintenance	21,696
Commercial and professional	4,968
Operating assessment	2,184
Electricity charges rebilled	1,176
Other sharehalder fees	447
Laundry income	67
Total Revenues	30,539
Cost of Operations
Administrative expenses Schedule 1	1,334
Operating expenses Schedule 2	11,935
Repairs and maintenance Schedule 3	1,392
Real estate tax	12,454
Interest expense	4,196
Corporation taxes	161
Total Cost of Operations	31,472
Loss from operations before other items and depreciation and amortization	(933)
Interest income	106
Transfer fees (Note 2)	844
Income Before Depreciation and Amortization	17
Depreciation and amortization	(5,130)
Net Loss For The Year	(5,113)