Apartment Report

Year Ended 2011-12-31

200 East 36 St
#18D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,421
Receivables (Note 3)	3,680
Prepaid expenses (Note 4)	564
Total Current Assets	6,665
Reserve fund (Notes 2 and 5)	7,470
Property and Improvements: (Notes 2 and 6)
Land	29,439
Building	117,758
Building improvements and equipment	27,988
Total	175,185
Less: accumulated depreciation	103,477
Net Property and Improvements	71,709
Other Assets:
Cash - security deposits	890
Unamortized mortgage finance costs (Note 2)	774
Deferred ieasing commissions (Note 2)	247
Total Other Assets	1,911
Total Assets	87,755
Liabilities
Current Liabilities:
Accounts payable	847
Real estate tax abatements	1,031
Accrued mortgage interest	315
Building improvements payable	222
Advance maintenance	93
Total Current Liabilities	2,508
Long-Term Liabilities:
Mortgage payable (Note 7)	64,494
Security deposits payable	771
Total Long-Term Liabilities	65,265
Total Liabilities	67,774
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	(78,730)
Total Stackholders' Equity	19,982
Total Liabilities and Stockholders' Equity	87,755

STATEMENTS OF OPERATIONS
Revenues
Maintenance	19,204
Commercial and professional	4,397
Operating assessment	1,933
Electricity charges rebilled	1,041
Other sharehalder fees	396
Laundry income	60
Total Revenues	27,030
Cost of Operations
Administrative expenses Schedule 1	1,181
Operating expenses Schedule 2	10,564
Repairs and maintenance Schedule 3	1,232
Real estate tax	11,023
Interest expense	3,714
Corporation taxes	142
Total Cost of Operations	27,856
Loss from operations before other items and depreciation and amortization	(826)
Interest income	94
Transfer fees (Note 2)	747
Income Before Depreciation and Amortization	15
Depreciation and amortization	(4,540)
Net Loss For The Year	(4,526)