Apartment Report

Year Ended 2010-12-31

200 East 36 St
#17G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,816
Receivables (Note 3)	3,178
Prepaid expenses (Note 4)	545
Total Current Assets	5,538
Reserve fund (Notes 2 and 5)	7,387
Property and Improvements: (Notes 2 and 6)
Land	25,869
Building	103,476
Building improvements and equipment	23,963
Total	153,308
Less: accumulated depreciation	87,073
Net Property and Improvements	66,235
Other Assets:
Cash - security deposits	872
Unamortized mortgage finance costs (Note 2)	740
Deferred ieasing commissions (Note 2)	293
Total Other Assets	1,905
Total Assets	81,066
Liabilities
Current Liabilities:
Accounts payable	695
Real estate tax abatements	904
Accrued mortgage interest	277
Building improvements payable	-0-
Advance maintenance	110
Total Current Liabilities	1,986
Long-Term Liabilities:
Mortgage payable (Note 7)	56,672
Security deposits payable	872
Total Long-Term Liabilities	57,544
Total Liabilities	59,531
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	413
Additional paid-in capital	86,327
Accumulated deficit	(65,205)
Total Stackholders' Equity	21,535
Total Liabilities and Stockholders' Equity	81,066

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,366
Commercial and professional	4,202
Operating assessment	1,588
Electricity charges rebilled	979
Other sharehalder fees	318
Laundry income	52
Total Revenues	23,505
Cost of Operations
Administrative expenses Schedule 1	910
Operating expenses Schedule 2	9,027
Repairs and maintenance Schedule 3	927
Real estate tax	9,320
Interest expense	3,264
Corporation taxes	120
Total Cost of Operations	23,567
Loss from operations before other items and depreciation and amortization	(63)
Interest income	98
Transfer fees (Note 2)	54
Income Before Depreciation and Amortization	89
Depreciation and amortization	(4,041)
Net Loss For The Year	(3,951)