Apartment Report

Year Ended 2011-12-31

200 East 36 St
#4D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,895
Receivables (Note 3)	2,881
Prepaid expenses (Note 4)	442
Total Current Assets	5,219
Reserve fund (Notes 2 and 5)	5,849
Property and Improvements: (Notes 2 and 6)
Land	23,050
Building	92,202
Building improvements and equipment	21,914
Total	137,166
Less: accumulated depreciation	81,020
Net Property and Improvements	56,146
Other Assets:
Cash - security deposits	697
Unamortized mortgage finance costs (Note 2)	606
Deferred ieasing commissions (Note 2)	193
Total Other Assets	1,496
Total Assets	68,710
Liabilities
Current Liabilities:
Accounts payable	663
Real estate tax abatements	807
Accrued mortgage interest	247
Building improvements payable	174
Advance maintenance	73
Total Current Liabilities	1,964
Long-Term Liabilities:
Mortgage payable (Note 7)	50,497
Security deposits payable	604
Total Long-Term Liabilities	51,101
Total Liabilities	53,065
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	368
Additional paid-in capital	76,921
Accumulated deficit	(61,644)
Total Stackholders' Equity	15,645
Total Liabilities and Stockholders' Equity	68,710

STATEMENTS OF OPERATIONS
Revenues
Maintenance	15,036
Commercial and professional	3,443
Operating assessment	1,514
Electricity charges rebilled	815
Other sharehalder fees	310
Laundry income	47
Total Revenues	21,164
Cost of Operations
Administrative expenses Schedule 1	925
Operating expenses Schedule 2	8,271
Repairs and maintenance Schedule 3	965
Real estate tax	8,631
Interest expense	2,908
Corporation taxes	111
Total Cost of Operations	21,811
Loss from operations before other items and depreciation and amortization	(647)
Interest income	74
Transfer fees (Note 2)	585
Income Before Depreciation and Amortization	12
Depreciation and amortization	(3,555)
Net Loss For The Year	(3,543)