Apartment Report

Year Ended 2011-12-31

200 East 36 St
#8D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,060
Receivables (Note 3)	3,132
Prepaid expenses (Note 4)	480
Total Current Assets	5,673
Reserve fund (Notes 2 and 5)	6,358
Property and Improvements: (Notes 2 and 6)
Land	25,055
Building	100,219
Building improvements and equipment	23,820
Total	149,094
Less: accumulated depreciation	88,065
Net Property and Improvements	61,029
Other Assets:
Cash - security deposits	758
Unamortized mortgage finance costs (Note 2)	658
Deferred ieasing commissions (Note 2)	210
Total Other Assets	1,626
Total Assets	74,685
Liabilities
Current Liabilities:
Accounts payable	721
Real estate tax abatements	877
Accrued mortgage interest	268
Building improvements payable	189
Advance maintenance	79
Total Current Liabilities	2,135
Long-Term Liabilities:
Mortgage payable (Note 7)	54,888
Security deposits payable	657
Total Long-Term Liabilities	55,545
Total Liabilities	57,680
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	(67,004)
Total Stackholders' Equity	17,006
Total Liabilities and Stockholders' Equity	74,685

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,344
Commercial and professional	3,742
Operating assessment	1,645
Electricity charges rebilled	886
Other sharehalder fees	337
Laundry income	51
Total Revenues	23,005
Cost of Operations
Administrative expenses Schedule 1	1,005
Operating expenses Schedule 2	8,990
Repairs and maintenance Schedule 3	1,049
Real estate tax	9,382
Interest expense	3,161
Corporation taxes	121
Total Cost of Operations	23,708
Loss from operations before other items and depreciation and amortization	(703)
Interest income	80
Transfer fees (Note 2)	636
Income Before Depreciation and Amortization	13
Depreciation and amortization	(3,864)
Net Loss For The Year	(3,852)