Apartment Report

Year Ended 2012-12-31

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 1,233,218
Less:
Cooperative abatement (90,722)
STAR and senior citizen refunds (8,788)
Common charges, net 1,133,708
Laundry 9,075
Sublet fees 45,877
Misc 11,651
Interest 596
Total income 1,200,907
Operating expenses
Real estate taxes 570,883
Less:
Cooperative abatement (90,722)
STAR and senior citizen refunds (8,788)
Real estate taxes, net 471,373
Water and sewer 46,854
Interest, including prepayment penalty 270,177
Management fees 34,800
Payroll, payroll tax and employee benefits 295,261
Insurance 50,031
Gas and electric 25,541
Fuel 108,222
Office and administrative 11,679
Repairs and maintenance 59,374
Legal and professional fees 16,461
Total operating expenses 1,389,773
Income (loss) before depreciation, amortization and income taxes (188,866)
Depreciation and amortization 74,900
Provision for income taxes 7,522
Net income (loss) (271,288)