Apartment Report

Year Ended 2011-12-31

200 East 36 St
#5D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,937
Receivables (Note 3)	2,944
Prepaid expenses (Note 4)	452
Total Current Assets	5,332
Reserve fund (Notes 2 and 5)	5,976
Property and Improvements: (Notes 2 and 6)
Land	23,552
Building	94,206
Building improvements and equipment	22,391
Total	140,148
Less: accumulated depreciation	82,781
Net Property and Improvements	57,367
Other Assets:
Cash - security deposits	712
Unamortized mortgage finance costs (Note 2)	619
Deferred ieasing commissions (Note 2)	198
Total Other Assets	1,529
Total Assets	70,204
Liabilities
Current Liabilities:
Accounts payable	678
Real estate tax abatements	825
Accrued mortgage interest	252
Building improvements payable	178
Advance maintenance	74
Total Current Liabilities	2,007
Long-Term Liabilities:
Mortgage payable (Note 7)	51,595
Security deposits payable	617
Total Long-Term Liabilities	52,212
Total Liabilities	54,219
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	376
Additional paid-in capital	78,593
Accumulated deficit	(62,984)
Total Stackholders' Equity	15,985
Total Liabilities and Stockholders' Equity	70,204

STATEMENTS OF OPERATIONS
Revenues
Maintenance	15,363
Commercial and professional	3,518
Operating assessment	1,547
Electricity charges rebilled	833
Other sharehalder fees	317
Laundry income	48
Total Revenues	21,624
Cost of Operations
Administrative expenses Schedule 1	945
Operating expenses Schedule 2	8,451
Repairs and maintenance Schedule 3	986
Real estate tax	8,819
Interest expense	2,971
Corporation taxes	114
Total Cost of Operations	22,285
Loss from operations before other items and depreciation and amortization	(661)
Interest income	75
Transfer fees (Note 2)	597
Income Before Depreciation and Amortization	12
Depreciation and amortization	(3,632)
Net Loss For The Year	(3,620)