Apartment Report

Year Ended 2010-12-31

200 East 36 St
#8D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,759
Receivables (Note 3)	3,078
Prepaid expenses (Note 4)	528
Total Current Assets	5,364
Reserve fund (Notes 2 and 5)	7,155
Property and Improvements: (Notes 2 and 6)
Land	25,055
Building	100,219
Building improvements and equipment	23,209
Total	148,483
Less: accumulated depreciation	84,333
Net Property and Improvements	64,150
Other Assets:
Cash - security deposits	845
Unamortized mortgage finance costs (Note 2)	716
Deferred ieasing commissions (Note 2)	284
Total Other Assets	1,845
Total Assets	78,514
Liabilities
Current Liabilities:
Accounts payable	673
Real estate tax abatements	876
Accrued mortgage interest	268
Building improvements payable	-0-
Advance maintenance	106
Total Current Liabilities	1,924
Long-Term Liabilities:
Mortgage payable (Note 7)	54,888
Security deposits payable	845
Total Long-Term Liabilities	55,733
Total Liabilities	57,657
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	400
Additional paid-in capital	83,610
Accumulated deficit	(63,152)
Total Stackholders' Equity	20,857
Total Liabilities and Stockholders' Equity	78,514

STATEMENTS OF OPERATIONS
Revenues
Maintenance	15,851
Commercial and professional	4,069
Operating assessment	1,538
Electricity charges rebilled	949
Other sharehalder fees	308
Laundry income	51
Total Revenues	22,765
Cost of Operations
Administrative expenses Schedule 1	881
Operating expenses Schedule 2	8,743
Repairs and maintenance Schedule 3	897
Real estate tax	9,027
Interest expense	3,161
Corporation taxes	116
Total Cost of Operations	22,826
Loss from operations before other items and depreciation and amortization	(61)
Interest income	95
Transfer fees (Note 2)	52
Income Before Depreciation and Amortization	86
Depreciation and amortization	(3,913)
Net Loss For The Year	(3,827)