| Assets | |
| Cash | 247,160 |
| Cash - Reserve Fund | 1,273,600 |
| Accounts Receivable | 100,377 |
| Prepaid Expenses | 41,176 |
| Property and Equipment - Net | 6,969,682 |
| Investment in NCB Stock | -0- |
| Mortgage Costs - Net | 49,442 |
| Security Deposits Held | 194,753 |
| Total Assets | 8,876,190 |
| Liabilities and Shareholders' Equity | |
| Liabilities | |
| Accounts Payable and Accrued Expenses | 161,293 |
| Capital Improvements Payable | 79,075 |
| Abatements Payable | 161,518 |
| Maintenance Charges Received in Advance | 40,586 |
| Mortgage Payable | 4,489,950 |
| Security Deposits Payable | 220,726 |
| Total Liabilities | 5,153,148 |
| Shareholders' Equity | |
| Capital Stock | 251,328 |
| Additional Paid in Capital | 15,765,497 |
| Retained Earnings (Deficit) | (12,293,783) |
| Total Shareholders' Equity | 3,723,042 |
| Total Liabilities and Shareholders' Equity | 8,876,190 |
| Income | |
| Maintenance Charges | 3,798,696 |
| Less: Abatements | (325,641) |
| Less: Mortgage Amortization | (316,980) |
| Operating Assessments | 299,450 |
| Commercial Rent | 142,142 |
| Interest Income | 12,916 |
| Laundry Income | 44,400 |
| Storage Fees | 33,910 |
| Sublet Fees | 14,440 |
| Other Income | 26,125 |
| Total Income | 3,729,458 |
| Expenses | |
| Real Estate Taxes | 1,754,813 |
| Less: Abatements | (325,641) |
| Mortgage Interest | 388,384 |
| Payroll and Related Expenses | 771,917 |
| Electric and Gas | 107,726 |
| Steam | 411,246 |
| Water and Sewer | 105,643 |
| Repairs and Maintenance | 188,104 |
| Insurance | 72,300 |
| Management Fees | 85,000 |
| Professional Fees | 39,424 |
| Corporation Taxes | 26,163 |
| Office and Administration | 22,891 |
| Total Expenses | 3,647,970 |
| Income From Operations | 81,488 |
| Other Items | |
| Mortgage Prepayment Penalty | -0- |
| Depreciation and Amortization | (140,853) |
| Net Income (Loss) | (59,365) |