Apartment Report

Year Ended 2011-12-31

200 East 36 St
#6D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,978
Receivables (Note 3)	3,007
Prepaid expenses (Note 4)	461
Total Current Assets	5,446
Reserve fund (Notes 2 and 5)	6,103
Property and Improvements: (Notes 2 and 6)
Land	24,053
Building	96,211
Building improvements and equipment	22,867
Total	143,130
Less: accumulated depreciation	84,543
Net Property and Improvements	58,587
Other Assets:
Cash - security deposits	728
Unamortized mortgage finance costs (Note 2)	632
Deferred ieasing commissions (Note 2)	202
Total Other Assets	1,561
Total Assets	71,698
Liabilities
Current Liabilities:
Accounts payable	692
Real estate tax abatements	842
Accrued mortgage interest	258
Building improvements payable	181
Advance maintenance	76
Total Current Liabilities	2,049
Long-Term Liabilities:
Mortgage payable (Note 7)	52,693
Security deposits payable	630
Total Long-Term Liabilities	53,323
Total Liabilities	55,372
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	384
Additional paid-in capital	80,265
Accumulated deficit	(64,324)
Total Stackholders' Equity	16,325
Total Liabilities and Stockholders' Equity	71,698

STATEMENTS OF OPERATIONS
Revenues
Maintenance	15,690
Commercial and professional	3,592
Operating assessment	1,580
Electricity charges rebilled	850
Other sharehalder fees	324
Laundry income	49
Total Revenues	22,084
Cost of Operations
Administrative expenses Schedule 1	965
Operating expenses Schedule 2	8,631
Repairs and maintenance Schedule 3	1,007
Real estate tax	9,006
Interest expense	3,035
Corporation taxes	116
Total Cost of Operations	22,759
Loss from operations before other items and depreciation and amortization	(675)
Interest income	77
Transfer fees (Note 2)	610
Income Before Depreciation and Amortization	12
Depreciation and amortization	(3,710)
Net Loss For The Year	(3,697)