Apartment Report

Year Ended 2011-12-31

240 East 55 St
New York
NY 10022

240 East 55th Tenents Corp.

Financial Statements

COMPARATIVE STATEMENTS OF INCOME

Income
Common charges, including special assessment 1,441,356
Less:
Cooperative abatement (89,394)
STAR and senior citizen refunds (8,285)
Common charges, net 1,343,677
Laundry 9,900
Sublet fees 39,026
Misc 8,599
Interest 1,903
Total income 1,403,105
Operating expenses
Real estate taxes 566,777
Less:
Cooperative abatement (89,394)
STAR and senior citizen refunds (8,285)
Real estate taxes, net 469,098
Water and sewer 34,168
Interest, including prepayment penalty 225,647
Management fees 32,200
Payroll, payroll tax and employee benefits 286,945
Insurance 49,662
Gas and electric 25,670
Fuel 122,389
Office and administrative 9,312
Repairs and maintenance 87,676
Legal and professional fees 10,555
Total operating expenses 1,353,322
Income (loss) before depreciation, amortization and income taxes 49,783
Depreciation and amortization 64,894
Provision for income taxes 6,708
Net income (loss) (21,819)