Apartment Report

Year Ended 2010-12-31

200 East 36 St
#17F
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,111
Receivables (Note 3)	3,693
Prepaid expenses (Note 4)	633
Total Current Assets	6,437
Reserve fund (Notes 2 and 5)	8,586
Property and Improvements: (Notes 2 and 6)
Land	30,066
Building	120,263
Building improvements and equipment	27,850
Total	178,179
Less: accumulated depreciation	101,199
Net Property and Improvements	76,980
Other Assets:
Cash - security deposits	1,014
Unamortized mortgage finance costs (Note 2)	860
Deferred ieasing commissions (Note 2)	340
Total Other Assets	2,214
Total Assets	94,217
Liabilities
Current Liabilities:
Accounts payable	808
Real estate tax abatements	1,051
Accrued mortgage interest	322
Building improvements payable	-0-
Advance maintenance	128
Total Current Liabilities	2,309
Long-Term Liabilities:
Mortgage payable (Note 7)	65,866
Security deposits payable	1,014
Total Long-Term Liabilities	66,880
Total Liabilities	69,188
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	480
Additional paid-in capital	100,331
Accumulated deficit	(75,783)
Total Stackholders' Equity	25,029
Total Liabilities and Stockholders' Equity	94,217

STATEMENTS OF OPERATIONS
Revenues
Maintenance	19,021
Commercial and professional	4,883
Operating assessment	1,845
Electricity charges rebilled	1,138
Other sharehalder fees	370
Laundry income	61
Total Revenues	27,318
Cost of Operations
Administrative expenses Schedule 1	1,058
Operating expenses Schedule 2	10,491
Repairs and maintenance Schedule 3	1,077
Real estate tax	10,833
Interest expense	3,793
Corporation taxes	139
Total Cost of Operations	27,391
Loss from operations before other items and depreciation and amortization	(73)
Interest income	114
Transfer fees (Note 2)	62
Income Before Depreciation and Amortization	104
Depreciation and amortization	(4,696)
Net Loss For The Year	(4,593)