Apartment Report

Year Ended 2010-12-31

200 East 36 St
#19A
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,878
Receivables (Note 3)	3,285
Prepaid expenses (Note 4)	563
Total Current Assets	5,726
Reserve fund (Notes 2 and 5)	7,638
Property and Improvements: (Notes 2 and 6)
Land	26,746
Building	106,984
Building improvements and equipment	24,775
Total	158,505
Less: accumulated depreciation	90,025
Net Property and Improvements	68,480
Other Assets:
Cash - security deposits	902
Unamortized mortgage finance costs (Note 2)	765
Deferred ieasing commissions (Note 2)	303
Total Other Assets	1,969
Total Assets	83,814
Liabilities
Current Liabilities:
Accounts payable	719
Real estate tax abatements	935
Accrued mortgage interest	287
Building improvements payable	-0-
Advance maintenance	114
Total Current Liabilities	2,054
Long-Term Liabilities:
Mortgage payable (Note 7)	58,593
Security deposits payable	902
Total Long-Term Liabilities	59,495
Total Liabilities	61,549
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	427
Additional paid-in capital	89,253
Accumulated deficit	(67,415)
Total Stackholders' Equity	22,265
Total Liabilities and Stockholders' Equity	83,814

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,921
Commercial and professional	4,344
Operating assessment	1,641
Electricity charges rebilled	1,013
Other sharehalder fees	329
Laundry income	54
Total Revenues	24,301
Cost of Operations
Administrative expenses Schedule 1	941
Operating expenses Schedule 2	9,333
Repairs and maintenance Schedule 3	958
Real estate tax	9,636
Interest expense	3,374
Corporation taxes	124
Total Cost of Operations	24,366
Loss from operations before other items and depreciation and amortization	(65)
Interest income	102
Transfer fees (Note 2)	55
Income Before Depreciation and Amortization	92
Depreciation and amortization	(4,178)
Net Loss For The Year	(4,085)