Apartment Report

Year Ended 2011-12-31

200 East 36 St
#7G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,767
Receivables (Note 3)	2,686
Prepaid expenses (Note 4)	412
Total Current Assets	4,864
Reserve fund (Notes 2 and 5)	5,452
Property and Improvements: (Notes 2 and 6)
Land	21,485
Building	85,938
Building improvements and equipment	20,425
Total	127,848
Less: accumulated depreciation	75,516
Net Property and Improvements	52,332
Other Assets:
Cash - security deposits	650
Unamortized mortgage finance costs (Note 2)	565
Deferred ieasing commissions (Note 2)	180
Total Other Assets	1,395
Total Assets	64,043
Liabilities
Current Liabilities:
Accounts payable	618
Real estate tax abatements	752
Accrued mortgage interest	230
Building improvements payable	162
Advance maintenance	68
Total Current Liabilities	1,831
Long-Term Liabilities:
Mortgage payable (Note 7)	47,067
Security deposits payable	563
Total Long-Term Liabilities	47,630
Total Liabilities	49,460
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	343
Additional paid-in capital	71,695
Accumulated deficit	(57,456)
Total Stackholders' Equity	14,582
Total Liabilities and Stockholders' Equity	64,043

STATEMENTS OF OPERATIONS
Revenues
Maintenance	14,015
Commercial and professional	3,209
Operating assessment	1,411
Electricity charges rebilled	760
Other sharehalder fees	289
Laundry income	43
Total Revenues	19,727
Cost of Operations
Administrative expenses Schedule 1	862
Operating expenses Schedule 2	7,709
Repairs and maintenance Schedule 3	899
Real estate tax	8,045
Interest expense	2,711
Corporation taxes	104
Total Cost of Operations	20,329
Loss from operations before other items and depreciation and amortization	(603)
Interest income	69
Transfer fees (Note 2)	545
Income Before Depreciation and Amortization	11
Depreciation and amortization	(3,314)
Net Loss For The Year	(3,303)