Apartment Report

Year Ended 2011-12-31

200 East 36 St
New York
NY 10016

200 East 36th Owners Corp.

Financial Statements

BALANCE SHEETS

Assets
Current Assets:
Cash and cash equivalents 243,979
Receivables (Note 3) 370,896
Prepaid expenses (Note 4) 56,883
Total Current Assets 671,758
Reserve fund (Notes 2 and 5) 752,892
Property and Improvements: (Notes 2 and 6)
Land 2,967,057
Building 11,868,228
Building improvements and equipment 2,820,794
Total 17,656,079
Less: accumulated depreciation 10,428,923
Net Property and Improvements 7,227,156
Other Assets:
Cash - security deposits 89,746
Unamortized mortgage finance costs (Note 2) 77,960
Deferred ieasing commissions (Note 2) 24,902
Total Other Assets 192,608
Total Assets 8,844,414
Liabilities
Current Liabilities:
Accounts payable 85,363
Real estate tax abatements 103,908
Accrued mortgage interest 31,792
Building improvements payable 22,375
Advance maintenance 9,381
Total Current Liabilities 252,819
Long-Term Liabilities:
Mortgage payable (Note 7) 6,500,000
Security deposits payable 77,746
Total Long-Term Liabilities 6,577,746
Total Liabilities 6,830,565
Stockholders’ Equity
Common stock - $4.00 par value, 50,000 shares authorized, 47,364 shares issued and outstanding 47,364
Additional paid-in capital 9,901,249
Accumulated deficit (7,934,764)
Total Stackholders' Equity 2,013,849
Total Liabilities and Stockholders' Equity 8,844,414

STATEMENTS OF OPERATIONS

Revenues
Maintenance 1,935,460
Commercial and professional 443,143
Operating assessment 194,851
Electricity charges rebilled 104,898
Other sharehalder fees 39,919
Laundry income 6,000
Total Revenues 2,724,271
Cost of Operations
Administrative expenses Schedule 1 119,042
Operating expenses Schedule 2 1,064,646
Repairs and maintenance Schedule 3 124,181
Real estate tax 1,110,984
Interest expense 374,328
Corporation taxes 14,332
Total Cost of Operations 2,807,513
Loss from operations before other items and depreciation and amortization (83,242)
Interest income 9,478
Transfer fees (Note 2) 75,264
Income Before Depreciation and Amortization 1,500
Depreciation and amortization (457,608)
Net Loss For The Year (456,108)