Apartment Report

Year Ended 2011-12-31

200 East 36 St
#3D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,854
Receivables (Note 3)	2,819
Prepaid expenses (Note 4)	432
Total Current Assets	5,105
Reserve fund (Notes 2 and 5)	5,722
Property and Improvements: (Notes 2 and 6)
Land	22,549
Building	90,197
Building improvements and equipment	21,438
Total	134,185
Less: accumulated depreciation	79,259
Net Property and Improvements	54,926
Other Assets:
Cash - security deposits	682
Unamortized mortgage finance costs (Note 2)	592
Deferred ieasing commissions (Note 2)	189
Total Other Assets	1,464
Total Assets	67,217
Liabilities
Current Liabilities:
Accounts payable	649
Real estate tax abatements	790
Accrued mortgage interest	242
Building improvements payable	170
Advance maintenance	71
Total Current Liabilities	1,921
Long-Term Liabilities:
Mortgage payable (Note 7)	49,399
Security deposits payable	591
Total Long-Term Liabilities	49,990
Total Liabilities	51,912
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	360
Additional paid-in capital	75,249
Accumulated deficit	(60,303)
Total Stackholders' Equity	15,305
Total Liabilities and Stockholders' Equity	67,217

STATEMENTS OF OPERATIONS
Revenues
Maintenance	14,709
Commercial and professional	3,368
Operating assessment	1,481
Electricity charges rebilled	797
Other sharehalder fees	303
Laundry income	46
Total Revenues	20,704
Cost of Operations
Administrative expenses Schedule 1	905
Operating expenses Schedule 2	8,091
Repairs and maintenance Schedule 3	944
Real estate tax	8,443
Interest expense	2,845
Corporation taxes	109
Total Cost of Operations	21,337
Loss from operations before other items and depreciation and amortization	(633)
Interest income	72
Transfer fees (Note 2)	572
Income Before Depreciation and Amortization	11
Depreciation and amortization	(3,478)
Net Loss For The Year	(3,466)