Apartment Report

Year Ended 2010-12-31

200 East 36 St
#18D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,067
Receivables (Note 3)	3,616
Prepaid expenses (Note 4)	620
Total Current Assets	6,303
Reserve fund (Notes 2 and 5)	8,407
Property and Improvements: (Notes 2 and 6)
Land	29,439
Building	117,758
Building improvements and equipment	27,270
Total	174,467
Less: accumulated depreciation	99,091
Net Property and Improvements	75,377
Other Assets:
Cash - security deposits	993
Unamortized mortgage finance costs (Note 2)	842
Deferred ieasing commissions (Note 2)	333
Total Other Assets	2,168
Total Assets	92,254
Liabilities
Current Liabilities:
Accounts payable	791
Real estate tax abatements	1,029
Accrued mortgage interest	315
Building improvements payable	-0-
Advance maintenance	125
Total Current Liabilities	2,260
Long-Term Liabilities:
Mortgage payable (Note 7)	64,494
Security deposits payable	993
Total Long-Term Liabilities	65,486
Total Liabilities	67,747
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	470
Additional paid-in capital	98,241
Accumulated deficit	(74,204)
Total Stackholders' Equity	24,507
Total Liabilities and Stockholders' Equity	92,254

STATEMENTS OF OPERATIONS
Revenues
Maintenance	18,624
Commercial and professional	4,782
Operating assessment	1,807
Electricity charges rebilled	1,115
Other sharehalder fees	362
Laundry income	60
Total Revenues	26,749
Cost of Operations
Administrative expenses Schedule 1	1,036
Operating expenses Schedule 2	10,273
Repairs and maintenance Schedule 3	1,054
Real estate tax	10,607
Interest expense	3,714
Corporation taxes	136
Total Cost of Operations	26,820
Loss from operations before other items and depreciation and amortization	(71)
Interest income	112
Transfer fees (Note 2)	61
Income Before Depreciation and Amortization	101
Depreciation and amortization	(4,598)
Net Loss For The Year	(4,497)