Apartment Report

Year Ended 2011-12-31

200 East 36 St
#8G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,803
Receivables (Note 3)	2,740
Prepaid expenses (Note 4)	420
Total Current Assets	4,963
Reserve fund (Notes 2 and 5)	5,563
Property and Improvements: (Notes 2 and 6)
Land	21,923
Building	87,692
Building improvements and equipment	20,842
Total	130,457
Less: accumulated depreciation	77,057
Net Property and Improvements	53,400
Other Assets:
Cash - security deposits	663
Unamortized mortgage finance costs (Note 2)	576
Deferred ieasing commissions (Note 2)	184
Total Other Assets	1,423
Total Assets	65,350
Liabilities
Current Liabilities:
Accounts payable	631
Real estate tax abatements	768
Accrued mortgage interest	235
Building improvements payable	165
Advance maintenance	69
Total Current Liabilities	1,868
Long-Term Liabilities:
Mortgage payable (Note 7)	48,027
Security deposits payable	574
Total Long-Term Liabilities	48,602
Total Liabilities	50,470
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	350
Additional paid-in capital	73,158
Accumulated deficit	(58,628)
Total Stackholders' Equity	14,880
Total Liabilities and Stockholders' Equity	65,350

STATEMENTS OF OPERATIONS
Revenues
Maintenance	14,301
Commercial and professional	3,274
Operating assessment	1,440
Electricity charges rebilled	775
Other sharehalder fees	295
Laundry income	44
Total Revenues	20,129
Cost of Operations
Administrative expenses Schedule 1	880
Operating expenses Schedule 2	7,866
Repairs and maintenance Schedule 3	918
Real estate tax	8,209
Interest expense	2,766
Corporation taxes	106
Total Cost of Operations	20,744
Loss from operations before other items and depreciation and amortization	(615)
Interest income	70
Transfer fees (Note 2)	556
Income Before Depreciation and Amortization	11
Depreciation and amortization	(3,381)
Net Loss For The Year	(3,370)