Apartment Report

Year Ended 2011-12-31

200 East 36 St
#2D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,813
Receivables (Note 3)	2,756
Prepaid expenses (Note 4)	423
Total Current Assets	4,992
Reserve fund (Notes 2 and 5)	5,595
Property and Improvements: (Notes 2 and 6)
Land	22,048
Building	88,193
Building improvements and equipment	20,961
Total	131,203
Less: accumulated depreciation	77,498
Net Property and Improvements	53,705
Other Assets:
Cash - security deposits	667
Unamortized mortgage finance costs (Note 2)	579
Deferred ieasing commissions (Note 2)	185
Total Other Assets	1,431
Total Assets	65,723
Liabilities
Current Liabilities:
Accounts payable	634
Real estate tax abatements	772
Accrued mortgage interest	236
Building improvements payable	166
Advance maintenance	70
Total Current Liabilities	1,879
Long-Term Liabilities:
Mortgage payable (Note 7)	48,302
Security deposits payable	578
Total Long-Term Liabilities	48,879
Total Liabilities	50,758
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	352
Additional paid-in capital	73,576
Accumulated deficit	(58,963)
Total Stackholders' Equity	14,965
Total Liabilities and Stockholders' Equity	65,723

STATEMENTS OF OPERATIONS
Revenues
Maintenance	14,382
Commercial and professional	3,293
Operating assessment	1,448
Electricity charges rebilled	779
Other sharehalder fees	297
Laundry income	45
Total Revenues	20,244
Cost of Operations
Administrative expenses Schedule 1	885
Operating expenses Schedule 2	7,911
Repairs and maintenance Schedule 3	923
Real estate tax	8,256
Interest expense	2,782
Corporation taxes	107
Total Cost of Operations	20,863
Loss from operations before other items and depreciation and amortization	(619)
Interest income	70
Transfer fees (Note 2)	559
Income Before Depreciation and Amortization	11
Depreciation and amortization	(3,400)
Net Loss For The Year	(3,389)