Apartment Report

Year Ended 2010-12-31

200 East 36 St
#18E
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,287
Receivables (Note 3)	4,001
Prepaid expenses (Note 4)	686
Total Current Assets	6,973
Reserve fund (Notes 2 and 5)	9,301
Property and Improvements: (Notes 2 and 6)
Land	32,571
Building	130,285
Building improvements and equipment	30,171
Total	193,028
Less: accumulated depreciation	109,632
Net Property and Improvements	83,395
Other Assets:
Cash - security deposits	1,098
Unamortized mortgage finance costs (Note 2)	931
Deferred ieasing commissions (Note 2)	369
Total Other Assets	2,398
Total Assets	102,068
Liabilities
Current Liabilities:
Accounts payable	875
Real estate tax abatements	1,139
Accrued mortgage interest	349
Building improvements payable	-0-
Advance maintenance	138
Total Current Liabilities	2,501
Long-Term Liabilities:
Mortgage payable (Note 7)	71,355
Security deposits payable	1,098
Total Long-Term Liabilities	72,453
Total Liabilities	74,954
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	(82,098)
Total Stackholders' Equity	27,114
Total Liabilities and Stockholders' Equity	102,068

STATEMENTS OF OPERATIONS
Revenues
Maintenance	20,606
Commercial and professional	5,290
Operating assessment	1,999
Electricity charges rebilled	1,233
Other sharehalder fees	400
Laundry income	66
Total Revenues	29,594
Cost of Operations
Administrative expenses Schedule 1	1,146
Operating expenses Schedule 2	11,365
Repairs and maintenance Schedule 3	1,167
Real estate tax	11,735
Interest expense	4,109
Corporation taxes	151
Total Cost of Operations	29,673
Loss from operations before other items and depreciation and amortization	(79)
Interest income	124
Transfer fees (Note 2)	68
Income Before Depreciation and Amortization	112
Depreciation and amortization	(5,087)
Net Loss For The Year	(4,975)