Apartment Report

Year Ended 2011-12-31

200 East 36 St
#19E
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,199
Receivables (Note 3)	3,343
Prepaid expenses (Note 4)	513
Total Current Assets	6,055
Reserve fund (Notes 2 and 5)	6,787
Property and Improvements: (Notes 2 and 6)
Land	26,746
Building	106,984
Building improvements and equipment	25,428
Total	159,158
Less: accumulated depreciation	94,010
Net Property and Improvements	65,148
Other Assets:
Cash - security deposits	809
Unamortized mortgage finance costs (Note 2)	703
Deferred ieasing commissions (Note 2)	224
Total Other Assets	1,736
Total Assets	79,727
Liabilities
Current Liabilities:
Accounts payable	769
Real estate tax abatements	937
Accrued mortgage interest	287
Building improvements payable	202
Advance maintenance	85
Total Current Liabilities	2,279
Long-Term Liabilities:
Mortgage payable (Note 7)	58,593
Security deposits payable	701
Total Long-Term Liabilities	59,294
Total Liabilities	61,573
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	(71,527)
Total Stackholders' Equity	18,154
Total Liabilities and Stockholders' Equity	79,727

STATEMENTS OF OPERATIONS
Revenues
Maintenance	17,447
Commercial and professional	3,995
Operating assessment	1,756
Electricity charges rebilled	946
Other sharehalder fees	360
Laundry income	54
Total Revenues	24,557
Cost of Operations
Administrative expenses Schedule 1	1,073
Operating expenses Schedule 2	9,597
Repairs and maintenance Schedule 3	1,119
Real estate tax	10,015
Interest expense	3,374
Corporation taxes	129
Total Cost of Operations	25,308
Loss from operations before other items and depreciation and amortization	(750)
Interest income	85
Transfer fees (Note 2)	678
Income Before Depreciation and Amortization	14
Depreciation and amortization	(4,125)
Net Loss For The Year	(4,112)