Apartment Report

Year Ended 2010-12-31

200 East 36 St
#9D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,794
Receivables (Note 3)	3,139
Prepaid expenses (Note 4)	538
Total Current Assets	5,471
Reserve fund (Notes 2 and 5)	7,298
Property and Improvements: (Notes 2 and 6)
Land	25,556
Building	102,224
Building improvements and equipment	23,673
Total	151,452
Less: accumulated depreciation	86,019
Net Property and Improvements	65,433
Other Assets:
Cash - security deposits	862
Unamortized mortgage finance costs (Note 2)	731
Deferred ieasing commissions (Note 2)	289
Total Other Assets	1,882
Total Assets	80,084
Liabilities
Current Liabilities:
Accounts payable	687
Real estate tax abatements	893
Accrued mortgage interest	274
Building improvements payable	-0-
Advance maintenance	108
Total Current Liabilities	1,962
Long-Term Liabilities:
Mortgage payable (Note 7)	55,986
Security deposits payable	862
Total Long-Term Liabilities	56,848
Total Liabilities	58,810
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	408
Additional paid-in capital	85,282
Accumulated deficit	(64,415)
Total Stackholders' Equity	21,274
Total Liabilities and Stockholders' Equity	80,084

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,168
Commercial and professional	4,151
Operating assessment	1,568
Electricity charges rebilled	968
Other sharehalder fees	314
Laundry income	52
Total Revenues	23,220
Cost of Operations
Administrative expenses Schedule 1	899
Operating expenses Schedule 2	8,918
Repairs and maintenance Schedule 3	915
Real estate tax	9,208
Interest expense	3,224
Corporation taxes	118
Total Cost of Operations	23,282
Loss from operations before other items and depreciation and amortization	(62)
Interest income	97
Transfer fees (Note 2)	53
Income Before Depreciation and Amortization	88
Depreciation and amortization	(3,992)
Net Loss For The Year	(3,904)