Apartment Report

Year Ended 2011-12-31

225 East 36 St
New York
NY 10016

221 East 36th Owners Corporation

Financial Statements

Balance Sheets

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

Statements of Income

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)