Apartment Report

Year Ended 2011-12-31

200 East 36 St
#9D
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	2,101
Receivables (Note 3)	3,195
Prepaid expenses (Note 4)	490
Total Current Assets	5,786
Reserve fund (Notes 2 and 5)	6,485
Property and Improvements: (Notes 2 and 6)
Land	25,556
Building	102,224
Building improvements and equipment	24,296
Total	152,076
Less: accumulated depreciation	89,827
Net Property and Improvements	62,249
Other Assets:
Cash - security deposits	773
Unamortized mortgage finance costs (Note 2)	671
Deferred ieasing commissions (Note 2)	214
Total Other Assets	1,659
Total Assets	76,179
Liabilities
Current Liabilities:
Accounts payable	735
Real estate tax abatements	895
Accrued mortgage interest	274
Building improvements payable	193
Advance maintenance	81
Total Current Liabilities	2,178
Long-Term Liabilities:
Mortgage payable (Note 7)	55,986
Security deposits payable	670
Total Long-Term Liabilities	56,656
Total Liabilities	58,833
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	(68,344)
Total Stackholders' Equity	17,346
Total Liabilities and Stockholders' Equity	76,179

STATEMENTS OF OPERATIONS
Revenues
Maintenance	16,671
Commercial and professional	3,817
Operating assessment	1,678
Electricity charges rebilled	904
Other sharehalder fees	344
Laundry income	52
Total Revenues	23,465
Cost of Operations
Administrative expenses Schedule 1	1,025
Operating expenses Schedule 2	9,170
Repairs and maintenance Schedule 3	1,070
Real estate tax	9,569
Interest expense	3,224
Corporation taxes	123
Total Cost of Operations	24,182
Loss from operations before other items and depreciation and amortization	(717)
Interest income	82
Transfer fees (Note 2)	648
Income Before Depreciation and Amortization	13
Depreciation and amortization	(3,941)
Net Loss For The Year	(3,929)