Apartment Report

Year Ended 2011-12-31

200 East 36 St
#18A
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,678
Receivables (Note 3)	4,072
Prepaid expenses (Note 4)	624
Total Current Assets	7,374
Reserve fund (Notes 2 and 5)	8,265
Property and Improvements: (Notes 2 and 6)
Land	32,571
Building	130,285
Building improvements and equipment	30,966
Total	193,822
Less: accumulated depreciation	114,485
Net Property and Improvements	79,337
Other Assets:
Cash - security deposits	985
Unamortized mortgage finance costs (Note 2)	856
Deferred ieasing commissions (Note 2)	273
Total Other Assets	2,114
Total Assets	97,091
Liabilities
Current Liabilities:
Accounts payable	937
Real estate tax abatements	1,141
Accrued mortgage interest	349
Building improvements payable	246
Advance maintenance	103
Total Current Liabilities	2,775
Long-Term Liabilities:
Mortgage payable (Note 7)	71,355
Security deposits payable	853
Total Long-Term Liabilities	72,208
Total Liabilities	74,984
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	520
Additional paid-in capital	108,692
Accumulated deficit	(87,105)
Total Stackholders' Equity	22,107
Total Liabilities and Stockholders' Equity	97,091

STATEMENTS OF OPERATIONS
Revenues
Maintenance	21,247
Commercial and professional	4,865
Operating assessment	2,139
Electricity charges rebilled	1,152
Other sharehalder fees	438
Laundry income	66
Total Revenues	29,906
Cost of Operations
Administrative expenses Schedule 1	1,307
Operating expenses Schedule 2	11,687
Repairs and maintenance Schedule 3	1,363
Real estate tax	12,196
Interest expense	4,109
Corporation taxes	157
Total Cost of Operations	30,820
Loss from operations before other items and depreciation and amortization	(914)
Interest income	104
Transfer fees (Note 2)	826
Income Before Depreciation and Amortization	16
Depreciation and amortization	(5,023)
Net Loss For The Year	(5,007)