Apartment Report

Year Ended 2011-12-31

200 East 36 St
#19C
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,571
Receivables (Note 3)	2,388
Prepaid expenses (Note 4)	366
Total Current Assets	4,325
Reserve fund (Notes 2 and 5)	4,848
Property and Improvements: (Notes 2 and 6)
Land	19,104
Building	76,417
Building improvements and equipment	18,163
Total	113,684
Less: accumulated depreciation	67,150
Net Property and Improvements	46,534
Other Assets:
Cash - security deposits	578
Unamortized mortgage finance costs (Note 2)	502
Deferred ieasing commissions (Note 2)	160
Total Other Assets	1,240
Total Assets	56,948
Liabilities
Current Liabilities:
Accounts payable	550
Real estate tax abatements	669
Accrued mortgage interest	205
Building improvements payable	144
Advance maintenance	60
Total Current Liabilities	1,628
Long-Term Liabilities:
Mortgage payable (Note 7)	41,852
Security deposits payable	501
Total Long-Term Liabilities	42,353
Total Liabilities	43,981
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	305
Additional paid-in capital	63,752
Accumulated deficit	(51,090)
Total Stackholders' Equity	12,967
Total Liabilities and Stockholders' Equity	56,948

STATEMENTS OF OPERATIONS
Revenues
Maintenance	12,462
Commercial and professional	2,853
Operating assessment	1,255
Electricity charges rebilled	675
Other sharehalder fees	257
Laundry income	39
Total Revenues	17,541
Cost of Operations
Administrative expenses Schedule 1	766
Operating expenses Schedule 2	6,855
Repairs and maintenance Schedule 3	800
Real estate tax	7,153
Interest expense	2,410
Corporation taxes	92
Total Cost of Operations	18,077
Loss from operations before other items and depreciation and amortization	(536)
Interest income	61
Transfer fees (Note 2)	485
Income Before Depreciation and Amortization	10
Depreciation and amortization	(2,946)
Net Loss For The Year	(2,937)