Apartment Report

Year Ended 2011-12-31

200 East 36 St
#17F
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,472
Receivables (Note 3)	3,758
Prepaid expenses (Note 4)	576
Total Current Assets	6,807
Reserve fund (Notes 2 and 5)	7,629
Property and Improvements: (Notes 2 and 6)
Land	30,066
Building	120,263
Building improvements and equipment	28,584
Total	178,913
Less: accumulated depreciation	105,678
Net Property and Improvements	73,234
Other Assets:
Cash - security deposits	909
Unamortized mortgage finance costs (Note 2)	790
Deferred ieasing commissions (Note 2)	252
Total Other Assets	1,952
Total Assets	89,622
Liabilities
Current Liabilities:
Accounts payable	865
Real estate tax abatements	1,053
Accrued mortgage interest	322
Building improvements payable	227
Advance maintenance	95
Total Current Liabilities	2,562
Long-Term Liabilities:
Mortgage payable (Note 7)	65,866
Security deposits payable	788
Total Long-Term Liabilities	66,654
Total Liabilities	69,216
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	(80,405)
Total Stackholders' Equity	20,407
Total Liabilities and Stockholders' Equity	89,622

STATEMENTS OF OPERATIONS
Revenues
Maintenance	19,612
Commercial and professional	4,490
Operating assessment	1,974
Electricity charges rebilled	1,063
Other sharehalder fees	405
Laundry income	61
Total Revenues	27,606
Cost of Operations
Administrative expenses Schedule 1	1,206
Operating expenses Schedule 2	10,788
Repairs and maintenance Schedule 3	1,258
Real estate tax	11,258
Interest expense	3,793
Corporation taxes	145
Total Cost of Operations	28,449
Loss from operations before other items and depreciation and amortization	(844)
Interest income	96
Transfer fees (Note 2)	763
Income Before Depreciation and Amortization	15
Depreciation and amortization	(4,637)
Net Loss For The Year	(4,622)