Apartment Report

Year Ended 2011-12-31

200 East 36 St
#9G
New York
NY 10016

BALANCE SHEETS
Assets
Current Assets:
Cash and cash equivalents	1,839
Receivables (Note 3)	2,795
Prepaid expenses (Note 4)	429
Total Current Assets	5,063
Reserve fund (Notes 2 and 5)	5,674
Property and Improvements: (Notes 2 and 6)
Land	22,361
Building	89,446
Building improvements and equipment	21,259
Total	133,066
Less: accumulated depreciation	78,598
Net Property and Improvements	54,468
Other Assets:
Cash - security deposits	676
Unamortized mortgage finance costs (Note 2)	588
Deferred ieasing commissions (Note 2)	188
Total Other Assets	1,452
Total Assets	66,657
Liabilities
Current Liabilities:
Accounts payable	643
Real estate tax abatements	783
Accrued mortgage interest	240
Building improvements payable	169
Advance maintenance	71
Total Current Liabilities	1,905
Long-Term Liabilities:
Mortgage payable (Note 7)	48,988
Security deposits payable	586
Total Long-Term Liabilities	49,574
Total Liabilities	51,479
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding	357
Additional paid-in capital	74,622
Accumulated deficit	(59,801)
Total Stackholders' Equity	15,178
Total Liabilities and Stockholders' Equity	66,657

STATEMENTS OF OPERATIONS
Revenues
Maintenance	14,587
Commercial and professional	3,340
Operating assessment	1,469
Electricity charges rebilled	791
Other sharehalder fees	301
Laundry income	45
Total Revenues	20,532
Cost of Operations
Administrative expenses Schedule 1	897
Operating expenses Schedule 2	8,024
Repairs and maintenance Schedule 3	936
Real estate tax	8,373
Interest expense	2,821
Corporation taxes	108
Total Cost of Operations	21,159
Loss from operations before other items and depreciation and amortization	(627)
Interest income	71
Transfer fees (Note 2)	567
Income Before Depreciation and Amortization	11
Depreciation and amortization	(3,449)
Net Loss For The Year	(3,437)