Apartment Report

Year Ended 2011-12-31

200 East 36 St
#17G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,127
Receivables (Note 3)	3,234
Prepaid expenses (Note 4)	496
Total Current Assets	5,857
Reserve fund (Notes 2 and 5)	6,564
Property and Improvements: (Notes 2 and 6)
Land	25,869
Building	103,476
Building improvements and equipment	24,594
Total	153,940
Less: accumulated depreciation	90,928
Net Property and Improvements	63,012
Other Assets:
Cash - security deposits	782
Unamortized mortgage finance costs (Note 2)	680
Deferred ieasing commissions (Note 2)	217
Total Other Assets	1,679
Total Assets	77,113
Liabilities
Current Liabilities:
Accounts payable	744
Real estate tax abatements	906
Accrued mortgage interest	277
Building improvements payable	195
Advance maintenance	82
Total Current Liabilities	2,204
Long-Term Liabilities:
Mortgage payable (Note 7)	56,672
Security deposits payable	678
Total Long-Term Liabilities	57,350
Total Liabilities	59,554
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	(69,181)
Total Stackholders' Equity	17,558
Total Liabilities and Stockholders' Equity	77,113

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,875
Commercial and professional	3,864
Operating assessment	1,699
Electricity charges rebilled	915
Other sharehalder fees	348
Laundry income	52
Total Revenues	23,752
Cost of Operations
Administrative expenses Schedule 1	1,038
Operating expenses Schedule 2	9,282
Repairs and maintenance Schedule 3	1,083
Real estate tax	9,686
Interest expense	3,264
Corporation taxes	125
Total Cost of Operations	24,478
Loss from operations before other items and depreciation and amortization	(726)
Interest income	83
Transfer fees (Note 2)	656
Income Before Depreciation and Amortization	13
Depreciation and amortization	(3,990)
Net Loss For The Year	(3,977)