Apartment Report

Year Ended 2011-12-31

200 East 36 St
#5G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,695
Receivables (Note 3)	2,576
Prepaid expenses (Note 4)	395
Total Current Assets	4,666
Reserve fund (Notes 2 and 5)	5,229
Property and Improvements: (Notes 2 and 6)
Land	20,608
Building	82,430
Building improvements and equipment	19,592
Total	122,630
Less: accumulated depreciation	72,434
Net Property and Improvements	50,196
Other Assets:
Cash - security deposits	623
Unamortized mortgage finance costs (Note 2)	541
Deferred ieasing commissions (Note 2)	173
Total Other Assets	1,338
Total Assets	61,429
Liabilities
Current Liabilities:
Accounts payable	593
Real estate tax abatements	722
Accrued mortgage interest	221
Building improvements payable	155
Advance maintenance	65
Total Current Liabilities	1,756
Long-Term Liabilities:
Mortgage payable (Note 7)	45,146
Security deposits payable	540
Total Long-Term Liabilities	45,686
Total Liabilities	47,441
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	329
Additional paid-in capital	68,769
Accumulated deficit	(55,111)
Total Stackholders' Equity	13,987
Total Liabilities and Stockholders' Equity	61,429

STATEMENTS OF OPERATIONS
Revenues
Maintenance	13,443
Commercial and professional	3,078
Operating assessment	1,353
Electricity charges rebilled	729
Other sharehalder fees	277
Laundry income	42
Total Revenues	18,921
Cost of Operations
Administrative expenses Schedule 1	827
Operating expenses Schedule 2	7,394
Repairs and maintenance Schedule 3	862
Real estate tax	7,716
Interest expense	2,600
Corporation taxes	100
Total Cost of Operations	19,499
Loss from operations before other items and depreciation and amortization	(578)
Interest income	66
Transfer fees (Note 2)	523
Income Before Depreciation and Amortization	10
Depreciation and amortization	(3,178)
Net Loss For The Year	(3,168)